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Phi Kappa Psi FY2021 filing

Lexington, VAUnknown exempt organizationEIN 23-7386398Revenue $551K in FY2021

On file with the IRSC/O Swisher Johnson Po Box 1489 · Lexington, VA

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College fraternity house corporation

Mission: Form 990 Part I, line 1

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $74K a year · 13% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.2 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$3K
0.5% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$551K
Spent
$402K
To programs
0%
Net assets
$568K
By yearFY2021–FY2024
Revenue
$551K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$551K
FY2022$614K
FY2023$597K
FY2024$586K
Expenses
$402K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$402K
FY2022$500K
FY2023$605K
FY2024$545K
Net assets
$568K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$568K
FY2022$587K
FY2023$589K
FY2024$676K

From the FY2021 Form 990 (year ending July 2021) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Brandon Allred
Assistant Tr
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Jj Smith
Treasurer
$0Pt VII · Sec A
See Phi Kappa Psi executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides housing and support for college fraternity members.

Questions for Phi Kappa Psi

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Provide room and board, supervision, and alumni contacts for undergraduate members of a local chapter of a national fraternal organization on the campus of an educational institution

Pt IX · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$551K
Ln 12
Fees for servicesLn 2g$536K
Investment incomeLn 3$15K
Money outPt IX
$402K
Ln 25
Owns and owesPt X
$568K
net assets · Ln 32
Cash and savingsLn 1–2$39K
Total assetsLn 16$571K
LiabilitiesLn 26$3K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$536K
Investment incomeLn 3$15K
Gains on assetsLn 7$12K
Total revenueLn 12$551K
Assets in detailPt X, end of year
CashLn 1$33K
SavingsLn 2$5K
Cash and savings togetherLn 1–2$39K
InvestmentsLn 11–13$411K
Other assetsLn 15$121K
Total assetsLn 16$571K
LiabilitiesLn 26$3K
Net assetsLn 32$568K
OperationsPt I, VI
EmployeesI 53
Fiscal year endsHeaderJuly
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$25K$39K
InvestmentsLn 11–13$312K$411K
Total assetsLn 16$337K$571K
LiabilitiesLn 26$2K$3K
Net assetsLn 32$335K$568K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$98K
Payroll taxesLn 10$8K
Accounting feesLn 11c$3K
InsuranceLn 23$1K
Other expenses (24a–d)Ln 24$291K
All other expensesLn 24e$528
Total functional expensesLn 25$402K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $586K$545K$41K$676K 990 PDF
FY2023 $597K$605K−$8K$589K 990 PDF
FY2022 $614K$500K$114K$587K 990 PDF
FY2021 Viewing $551K$402K$149K$568K 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $550,683 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $515,563$535,542
I-10 Investment incomePrior year $15,121$15,141
I-11 Other revenue$0
I-12 Total revenuePrior year $530,684$550,683
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $100,686$106,174
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $411,709$295,781
I-18 Total expensesPrior year $512,395$401,955
I-19 Revenue less expensesPrior year $18,289$148,728
Part VI · Governance 3 of 3 board members independent, 2 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $550,683 across 4 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $535,542$535,542
VIII-3 Investment incomeUnrelated business $3,385$3,385
VIII-7 Net gain or loss on sales of assetsExcluded from tax $11,756$11,756
VIII-12 Total revenueRelated to mission $535,542 · Unrelated business $3,385 · Excluded from tax $11,756$550,683
Part IX · Statement of functional expenses $401,955 across 6 lines filed
IX-7 Other salaries and wages$98,370
IX-10 Payroll taxes$7,804
IX-11c Accounting fees$3,127
IX-23 Insurance$1,232
IX-24 Other expenses (24a–d)$290,894
IX-24e All other expenses$528
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$401,955
Part X · Balance sheet $570,689 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $24,359$33,465
X-2 Savings and temporary cash investmentsStart of year $756$5,282
X-11 Publicly traded securitiesStart of year $312,133$411,229
X-15 Other assets$120,713
X-16 Total assetsStart of year $337,248$570,689
X-25 Other liabilitiesStart of year $2,215$2,962
X-26 Total liabilitiesStart of year $2,215$2,962
X-27 Net assets without donor restrictionsStart of year $315,033$547,727
X-28 Net assets with donor restrictionsStart of year $20,000$20,000
X-32 Total net assets or fund balancesStart of year $335,033$567,727
X-33 Total liabilities and net assetsStart of year $337,248$570,689
Part XI · Reconciliation of net assets $567,727 net assets at year end
XI-1 Total revenue$550,683
XI-2 Total expenses$401,955
XI-3 Revenue less expenses$148,728
XI-4 Net assets at start of year$335,033
XI-9 Other changes in net assets$83,966
XI-10 Net assets at end of year$567,727

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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