Beta Theta Pi Fraternity FY2023 filing

Not tax-deductible

Oxford, OH501(c)(7)Since 1839EIN 31-0531047Revenue $6.4M in FY2023

On file with the IRSbeta.org5134 Bonham Rd, 45056-1429 · Oxford, OHTax-exempt since Feb 1941

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Beta Theta Pi Fraternity promotes and develops intellect and culture.

$900K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2023 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
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
4 of 6
filings with a surplus
Average surplus $158K a year · 2% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$900K
to officers and key staff · 12% of spending
Looks good: pay to officers and key staff is 12% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
3 mo
of spending, in cash
Fine: 2.8 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $1.7M
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$5.5M
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
11
of 11 voting members
Looks good: 11 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.4M
+2% vs prior year
Spent
$7.6M
Net assets
$1.1M
By yearFY2020–FY2025
Revenue
$6.4M
FY2023▲ +2%
Tap a bar for its year
Revenue by fiscal year
FY2020$6.8M
FY2021$4.9M
FY2022$6.3M
FY2023$6.4M
FY2024$7.5M
FY2025$7.5M
Expenses
$7.6M
FY2023▲ +20%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.9M
FY2021$4.6M
FY2022$6.3M
FY2023$7.6M
FY2024$6.7M
FY2025$7.1M
Net assets
$1.1M
FY2023▼ -84%
Tap a bar for its year
Net assets by fiscal year
FY2020$6.0M
FY2021$7.4M
FY2022$7.0M
FY2023$1.1M
FY2024$1.9M
FY2025$2.2M

From the FY2023 Form 990 (year ending May 2023) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Feb 1941.

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

Who runs it and what they're paid

16 people listed on the 990; $900K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Chief Executive Officer
$368,913Pt VII · Sec A
Chief Communications Officer
$171,980Pt VII · Sec A
Chief Foundation Officer
$139,022Pt VII · Sec A
Chief Strategy Officer
$117,508Pt VII · Sec A
Chief Financial Officer
$102,926Pt VII · Sec A
Board of Trustee Member
$0Pt VII · Sec A
Board of Trustee Member
$0Pt VII · Sec A
Board of Trustee Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jeff Rundle$304,452$234,141$368,913———
Rundle Jeff———$257,519$205,268$228,362
Phil Fernandez$179,066$142,468$139,022———
Cobb Martin———$178,558$148,064$152,925
Hanlon Pete———$175,516——
Martin Cobb$116,458$156,619$171,980———
Austin Marple$152,625—————
John Reineke$146,709$108,865————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Develops intellect and culture through fraternity programs.

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Provided by the organization

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3 programs · in their own filed words · FY2022
01

Host an annual organizational convention to develop members and volunteers and facilitate the annual business meeting of the fraternity.

Pt IX · col B
02

Chapter Operations

Maintaining and supporting quality chapters across north america

Pt IX · col B
03

Leadership development programs for collegiate members and volunteers.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 2 funders$1.7M
Grants paid · 2 grants · $430K · 2020–2022
219 Church Street OxfordOH · FY2022$400,000
The Piazza Center Co Penn StateFY2020$30,000

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$6.4M
Ln 12
Fees for servicesLn 2g$4.6M
Gifts and grantsLn 1h$1.5M
Other incomeLn 4–11$311K
Money outPt IX
$7.6M
Ln 25
Owns and owesPt X
$1.1M
net assets · Ln 32
Cash and savingsLn 1–2$1.8M
Total assetsLn 16$6.6M
LiabilitiesLn 26$5.5M
PeoplePt VI, VII
16
listed · VII A
PaidVII A5
Voting boardVI 1a11
IndependentVI 1b11
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.5M
Fees for servicesLn 2g$4.6M
Investment incomeLn 3$43K
Other incomeLn 4–11$311K
Gains on assetsLn 7−$15K
Total revenueLn 12$6.4M
Assets in detailPt X, end of year
CashLn 1$595K
SavingsLn 2$1.2M
Cash and savings togetherLn 1–2$1.8M
InvestmentsLn 11–13$1.5M
Land, buildings, equipmentLn 10c$101K
Other assetsLn 15$2.2M
Total assetsLn 16$6.6M
LiabilitiesLn 26$5.5M
Net assetsLn 32$1.1M
OperationsPt I, VI
EmployeesI 551
VolunteersI 62,018
Fiscal year endsHeaderMay
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
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$3.0M$1.8M
InvestmentsLn 11–13$5.4M$1.5M
Land, buildings, equipmentLn 10c$88K$101K
Total assetsLn 16$10.7M$6.6M
LiabilitiesLn 26$3.8M$5.5M
Net assetsLn 32$7.0M$1.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$404K
Pay of current officers, directors and key staffLn 5$451K
Other salaries and wagesLn 7$1.8M
Pension plan contributionsLn 8$85K
Other employee benefitsLn 9$309K
Payroll taxesLn 10$250K
Legal feesLn 11b$212K
Accounting feesLn 11c$70K
Investment management feesLn 11f$4K
Other fees for servicesLn 11g$140K
Advertising and promotionLn 12$2K
Office expensesLn 13$677K
Information technologyLn 14$289K
OccupancyLn 16$636K
TravelLn 17$706K
Conferences, conventions and meetingsLn 19$1.2M
InterestLn 20$2K
Depreciation, depletion and amortizationLn 22−$2K
InsuranceLn 23$356K
Other expenses (24a–d)Ln 24$18K
Total functional expensesLn 25$7.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $7.5M$7.1M$341K$2.2M 990 PDF
FY2024 $7.5M$6.7M$792K$1.9M 990 PDF
FY2023 Viewing $6.4M$7.6M−$1.2M$1.1M 990 PDF
FY2022 $6.3M$6.3M−$80K$7.0M 990 PDF
FY2021 $4.9M$4.6M$309K$7.4M 990 PDF
FY2020 $6.8M$5.9M$819K$6.0M 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 $6,378,113 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $1,180,552$1,472,981
I-9 Program service revenuePrior year $4,556,603$4,550,928
I-10 Investment incomePrior year $270,377$42,856
I-11 Other revenuePrior year $261,197$311,348
I-12 Total revenuePrior year $6,268,729$6,378,113
I-13 Grants and similar amounts paidPrior year $0$403,840
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $2,801,785$2,856,985
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,547,346$4,350,363
I-18 Total expensesPrior year $6,349,131$7,611,188
I-19 Revenue less expensesPrior year −$80,402−$1,233,075
Part VI · Governance 11 of 11 board members independent, no flags
VI-1a Voting members of the governing body11
VI-1b Independent voting members11
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $6,378,113 across 9 lines filed
Lines not itemized here account for $6,714 of total revenue; see the IRS return.
VIII-1d Related organizations$1,466,481
VIII-1f All other contributions, gifts and grants$6,500
VIII-1h Total contributions, gifts and grants$1,472,981
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,550,928$4,550,928
VIII-3 Investment incomeUnrelated business $58,089$58,089
VIII-5 RoyaltiesUnrelated business $304,201$304,201
VIII-7 Net gain or loss on sales of assetsUnrelated business −$15,233−$15,233
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $433$433
VIII-12 Total revenueRelated to mission $4,558,075 · Unrelated business $347,057 · Excluded from tax $0$6,378,113
Part IX · Statement of functional expenses $7,611,188 across 20 lines filed
IX-1 Grants to domestic organizations$403,840
IX-5 Pay of current officers, directors and key staff$450,727
IX-7 Other salaries and wages$1,762,194
IX-8 Pension plan contributions$85,209
IX-9 Other employee benefits$309,239
IX-10 Payroll taxes$249,616
IX-11b Legal fees$211,764
IX-11c Accounting fees$70,265
IX-11f Investment management fees$3,777
IX-11g Other fees for services$139,769
IX-12 Advertising and promotion$2,460
IX-13 Office expenses$677,105
IX-14 Information technology$289,349
IX-16 Occupancy$636,452
IX-17 Travel$706,002
IX-19 Conferences, conventions and meetings$1,238,342
IX-20 Interest$2,101
IX-22 Depreciation, depletion and amortization−$1,731
IX-23 Insurance$356,306
IX-24 Other expenses (24a–d)$18,402
IX-25 Total functional expenses$7,611,188
Part X · Balance sheet $6,605,669 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $1,029,993$595,313
X-2 Savings and temporary cash investmentsStart of year $2,011,831$1,185,112
X-4 Accounts receivableStart of year $864,641$751,850
X-9 Prepaid expenses and deferred chargesStart of year $282,441$270,505
X-10c Land, buildings and equipment, netStart of year $87,501$101,399
X-11 Publicly traded securitiesStart of year $5,397,380$1,514,487
X-15 Other assetsStart of year $1,059,798$2,187,003
X-16 Total assetsStart of year $10,733,585$6,605,669
X-17 Accounts payable and accrued expensesStart of year $491,960$698,148
X-19 Deferred revenueStart of year $16,194$63,535
X-24 Unsecured notes and loans payableStart of year $0$0
X-25 Other liabilitiesStart of year $3,190,118$4,645,288
X-26 Total liabilitiesStart of year $3,762,708$5,491,333
X-27 Net assets without donor restrictionsStart of year $6,970,877$1,114,336
X-32 Total net assets or fund balancesStart of year $6,970,877$1,114,336
X-33 Total liabilities and net assetsStart of year $10,733,585$6,605,669
Part XI · Reconciliation of net assets $1,114,336 net assets at year end
XI-1 Total revenue$6,378,113
XI-2 Total expenses$7,611,188
XI-3 Revenue less expenses−$1,233,075
XI-4 Net assets at start of year$6,970,877
XI-5 Net unrealized gains (losses) on investments−$38,952
XI-9 Other changes in net assets−$4,584,514
XI-10 Net assets at end of year$1,114,336

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

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