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Phi Kappa Psi FY2023 filing

Lexington, VAUnknown exempt organizationEIN 23-7386398Revenue $597K in FY2023

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

FY2023 · 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: 1.0 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$916
0.2% 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
$597K
-3% vs prior year
Spent
$605K
To programs
0%
Net assets
$589K
By yearFY2021–FY2024
Revenue
$597K
FY2023▼ -3%
Tap a bar for its year
Revenue by fiscal year
FY2021$551K
FY2022$614K
FY2023$597K
FY2024$586K
Expenses
$605K
FY2023▲ +21%
Tap a bar for its year
Expenses by fiscal year
FY2021$402K
FY2022$500K
FY2023$605K
FY2024$545K
Net assets
$589K
FY2023+0.3%
Tap a bar for its year
Net assets by fiscal year
FY2021$568K
FY2022$587K
FY2023$589K
FY2024$676K

From the FY2023 Form 990 (year ending July 2023) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 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

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Robert Allan
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$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 · FY2022
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 FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$597K
Ln 12
Fees for servicesLn 2g$574K
Investment incomeLn 3$20K
Other incomeLn 4–11$3K
Money outPt IX
$605K
Ln 25
Owns and owesPt X
$589K
net assets · Ln 32
Cash and savingsLn 1–2$51K
Total assetsLn 16$590K
LiabilitiesLn 26$916
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$574K
Investment incomeLn 3$20K
Other incomeLn 4–11$3K
Gains on assetsLn 7$16K
Total revenueLn 12$597K
Assets in detailPt X, end of year
CashLn 1$45K
SavingsLn 2$6K
Cash and savings togetherLn 1–2$51K
InvestmentsLn 11–13$380K
Other assetsLn 15$159K
Total assetsLn 16$590K
LiabilitiesLn 26$916
Net assetsLn 32$589K
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 FY23End FY23
Cash and savingsLn 1–2$53K$51K
InvestmentsLn 11–13$351K$380K
Total assetsLn 16$589K$590K
LiabilitiesLn 26$2K$916
Net assetsLn 32$587K$589K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$108K
Payroll taxesLn 10$8K
Accounting feesLn 11c$5K
InsuranceLn 23$28K
Other expenses (24a–d)Ln 24$456K
All other expensesLn 24e$18
Total functional expensesLn 25$605K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $586K$545K$41K$676K 990 PDF
FY2023 Viewing $597K$605K−$8K$589K 990 PDF
FY2022 $614K$500K$114K$587K 990 PDF
FY2021 $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 FY2023 990 (6 parts)
Part I · Summary $596,569 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $579,543$573,828
I-10 Investment incomePrior year $34,442$20,138
I-11 Other revenue$2,603
I-12 Total revenuePrior year $613,985$596,569
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $104,895$116,129
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $394,865$488,519
I-18 Total expensesPrior year $499,760$604,648
I-19 Revenue less expensesPrior year $114,225−$8,079
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 $596,569 across 5 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $573,828$573,828
VIII-3 Investment incomeUnrelated business $4,153$4,153
VIII-7 Net gain or loss on sales of assetsExcluded from tax $15,985$15,985
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $2,603$2,603
VIII-12 Total revenueRelated to mission $576,431 · Unrelated business $4,153 · Excluded from tax $15,985$596,569
Part IX · Statement of functional expenses $604,648 across 6 lines filed
IX-7 Other salaries and wages$107,730
IX-10 Payroll taxes$8,399
IX-11c Accounting fees$5,331
IX-23 Insurance$27,528
IX-24 Other expenses (24a–d)$455,642
IX-24e All other expenses$18
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$604,648
Part X · Balance sheet $589,578 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $47,585$45,023
X-2 Savings and temporary cash investmentsStart of year $5,293$5,500
X-11 Publicly traded securitiesStart of year $350,687$380,355
X-15 Other assetsStart of year $185,685$158,700
X-16 Total assetsStart of year $589,250$589,578
X-25 Other liabilitiesStart of year $2,263$916
X-26 Total liabilitiesStart of year $2,263$916
X-27 Net assets without donor restrictionsStart of year $566,987$568,662
X-28 Net assets with donor restrictionsStart of year $20,000$20,000
X-32 Total net assets or fund balancesStart of year $586,987$588,662
X-33 Total liabilities and net assetsStart of year $589,250$589,578
Part XI · Reconciliation of net assets $588,662 net assets at year end
XI-1 Total revenue$596,569
XI-2 Total expenses$604,648
XI-3 Revenue less expenses−$8,079
XI-4 Net assets at start of year$586,987
XI-5 Net unrealized gains (losses) on investments$9,754
XI-10 Net assets at end of year$588,662

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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