Phi Kappa Tau-Omicron Chapter FY2023 filing

State College, PAUnknown exempt organizationEIN 24-0689435Revenue $364K in FY2023

On file with the IRSPo Box905 · State College, PA

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The organization is a social fraternity located at the university Park Campus of the Pennsylvania State University, that provides housing and food service for its members.

Mission: Form 990 Part I, line 1

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 4
filings with a surplus
Average surplus $2K a year · under 1% 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
<1 mo
of spending, in cash
Concern: 0.4 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 50 voting members
Concern: none of 50 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$364K
+12% vs prior year
Spent
$359K
To programs
0%
Net assets
$11K
By yearFY2021–FY2025
Revenue
$364K
FY2023▲ +12%
Tap a bar for its year
Revenue by fiscal year
FY2021$182K
FY2022$327K
FY2023$364K
FY2024$352K
FY2025$359K
Expenses
$359K
FY2023▲ +10%
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022$326K
FY2023$359K
FY2024$354K
FY2025$354K
Net assets
$11K
FY2023▲ +90%
Tap a bar for its year
Net assets by fiscal year
FY2021$5K
FY2022$6K
FY2023$11K
FY2024$9K
FY2025$13K

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

990 PDF Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025.

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
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice-President
$0Pt VII · Sec A
See Phi Kappa Tau-Omicron Chapter 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 food services for university students.

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Provided by the organization

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1 program · $359K · in their own filed words · FY2022
01

The organization is a social fraternity located at the university Park Campus of the Pennsylvania State University, that provides housing and food service for its members.

$359Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$364K
Ln 12
Fees for servicesLn 2g$364K
Money outPt IX
$359K
Ln 25
Owns and owesPt X
$11K
net assets · Ln 32
Cash and savingsLn 1–2$11K
Total assetsLn 16$11K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a50
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$364K
Gains on assetsLn 7$0
Total revenueLn 12$364K
Assets in detailPt X, end of year
CashLn 1$6K
SavingsLn 2$5K
Cash and savings togetherLn 1–2$11K
InvestmentsLn 11–13$0
Other assetsLn 15$0
Total assetsLn 16$11K
LiabilitiesLn 26$0
Net assetsLn 32$11K
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$6K$11K
InvestmentsLn 11–13$0$0
Total assetsLn 16$6K$11K
LiabilitiesLn 26$0$0
Net assetsLn 32$6K$11K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$2K
Information technologyLn 14$6K
RoyaltiesLn 15$0
OccupancyLn 16$330K
TravelLn 17$1K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$1K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$20K
All other expensesLn 24e$0
Total functional expensesLn 25$359K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $359K$354K$4K$13K 990 PDF
FY2024 $352K$354K−$2K$9K 990 PDF
FY2023 Viewing $364K$359K$5K$11K 990 PDF
FY2022 $327K$326K$923$6K 990 PDF
FY2021 $182K$5K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants O · Explanations
See the full FY2023 990 (6 parts)
Part I · Summary $364,372 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $326,743$364,372
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $326,743$364,372
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $325,820$359,012
I-18 Total expensesPrior year $325,820$359,012
I-19 Revenue less expensesPrior year $923$5,360
Part VI · Governance 0 of 50 board members independent, 4 to look at
VI-1a Voting members of the governing body50
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $364,372 across 15 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$0
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $364,372 · Unrelated business $0 · Excluded from tax $0$364,372
VIII-3 Investment incomeRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-5 RoyaltiesRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-6 Net rental income or lossRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$0
VIII-8 Net income from fundraising eventsUnrelated business $0 · Excluded from tax $0$0
VIII-12 Total revenueRelated to mission $364,372 · Unrelated business $0 · Excluded from tax $0$364,372
Part IX · Statement of functional expenses $359,012 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$1,500
IX-14 Information technology$6,000
IX-15 Royalties$0
IX-16 Occupancy$329,512
IX-17 Travel$1,000
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$1,000
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$20,000
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$359,012
Part X · Balance sheet $11,306 assets, 20 lines filed
X-1 Cash, non-interest-bearingStart of year $5,946$6,306
X-2 Savings and temporary cash investmentsStart of year $0$5,000
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $5,946$11,306
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $5,946$11,306
X-33 Total liabilities and net assetsStart of year $5,946$11,306
Part XI · Reconciliation of net assets $11,306 net assets at year end
XI-1 Total revenue$364,372
XI-2 Total expenses$359,012
XI-3 Revenue less expenses$5,360
XI-4 Net assets at start of year$5,946
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$11,306

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

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