Psi Upsilon Fraternity

Not tax-deductible

Indianapolis, IN501(c)(7)Since 1833Mutual / membership EIN 35-2074015Revenue $717K in FY2025Latest return filed May 6, 2026

On file with the IRSpsiu.org1389 W 86th Street 345, 46260-2101 · Indianapolis, INTax-exempt since Apr 1999

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To provide its members with the opportunity to develop skills pertaining to moral leadership, intellectual engagement, responsible social conduct, and service to society. In addition, fostering a safe environment for our members and encouraging them to build lifelong friendships.

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
Run by 50 volunteers and 2 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · People: Part I, lines 5–6

Before you give

FY2025 · 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
2 of 5
filings with a surplus
Average deficit $12K a year · 2% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$92K
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
2 mo
of spending, in cash
Fine: 2.1 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $61K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$42K
18% of total assets
Looks good: liabilities are 18% of assets; 50% or less.
Pt X · Ln 26
Independent board members
16
of 16 voting members
Looks good: 16 of 16 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$717K
+11% vs prior year
Spent
$753K
Net assets
$190K
By yearFY2021–FY2025
Revenue
$717K
FY2025▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2021$562K
FY2022$610K
FY2023$672K
FY2024$644K
FY2025$717K
Expenses
$753K
FY2025▲ +13%
Tap a bar for its year
Expenses by fiscal year
FY2021$532K
FY2022$567K
FY2023$744K
FY2024$669K
FY2025$753K
Net assets
$190K
FY2025▼ -16%
Tap a bar for its year
Net assets by fiscal year
FY2021$283K
FY2022$325K
FY2023$252K
FY2024$227K
FY2025$190K

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 1999.

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

Who runs it and what they're paid

17 people listed on the 990; $92K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Executive Director
$92,500Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Alumni Term Member
$0Pt VII · Sec A
Alumni Term Member
$0Pt VII · Sec A
Alumni Term Member
$0Pt VII · Sec A
Alumni Term Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2025FY2024FY2023FY2022FY2021
Thomas J Fox$92,500$90,000$90,000$92,500$87,500

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.

See Psi Upsilon Fraternity executive salaries →

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 members' leadership, intellectual, social, and service skills in a safe, friendly environment.

Questions for Psi Upsilon Fraternity

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Your first name shows with your question. Psi Upsilon Fraternity answers here, for everyone.

3 programs · in their own filed words · FY2024
01

Chapter Leadership Program

Staff visit most campuses at least once a year. The purpose of the visit is to inspire, instruct, and inspect the chapter and encourage best practices for the chapter. In addition, each new member is required to complete online training focused on facing the challenges of hazing, substance abuse, and healthy relationships.

Pt IX · col B
02

Leadership Institute

Our leadership institute was held july 26TH-29TH in boston, ma. Each chapter is expected to send 2 undergraduate and one alum member. During the weekend we held a number of both large group and small group educational sessions, including a review of our risk management policy, recruitment trends, situational leadership and teambuilding…

Pt IX · col B
03

Archons Academy

The president or another officer of every active chapter is expected to attend an annual archons academy. In 2025, the archons academy was held january 10TH-12TH and focused on effective chapter management, addressing conflict between members, member safety and health, our history and mission, and included team building and leadership…

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 · funders on record
Grants received · FY2024
Total grants receivedfrom 1 funder$61K

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$717K
Ln 12
Fees for servicesLn 2g$599K
Gifts and grantsLn 1h$70K
Investment incomeLn 3$41K
Money outPt IX
$753K
Ln 25
Owns and owesPt X
$190K
net assets · Ln 32
Cash and savingsLn 1–2$133K
Total assetsLn 16$232K
LiabilitiesLn 26$42K
PeoplePt VI, VII
17
listed · VII A
PaidVII A1
Voting boardVI 1a16
IndependentVI 1b16
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$70K
Fees for servicesLn 2g$599K
Investment incomeLn 3$41K
Other incomeLn 4–11$7K
Total revenueLn 12$717K
Assets in detailPt X, end of year
CashLn 1$47K
SavingsLn 2$86K
Cash and savings togetherLn 1–2$133K
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$40K
Total assetsLn 16$232K
LiabilitiesLn 26$42K
Net assetsLn 32$190K
OperationsPt I, VI
EmployeesI 52
VolunteersI 650
Fiscal year endsHeaderJune
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 FY25End FY25
Cash and savingsLn 1–2$168K$133K
Land, buildings, equipmentLn 10c$0$0
Total assetsLn 16$262K$232K
LiabilitiesLn 26$35K$42K
Net assetsLn 32$227K$190K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$92K
Other salaries and wagesLn 7$133K
Pension plan contributionsLn 8$9K
Other employee benefitsLn 9$37K
Payroll taxesLn 10$11K
Accounting feesLn 11c$1K
Other fees for servicesLn 11g$17K
Advertising and promotionLn 12$15K
Information technologyLn 14$8K
OccupancyLn 16$22K
Conferences, conventions and meetingsLn 19$63K
InsuranceLn 23$248K
Other expenses (24a–d)Ln 24$97K
Total functional expensesLn 25$753K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest ViewingFiled with the IRS May 6, 2026 $717K$753K−$37K$190K 990 PDF
FY2024Filed with the IRS Apr 11, 2025 $644K$669K−$25K$227K 990 PDF
FY2023Filed with the IRS May 15, 2024 $672K$744K−$73K$252K 990 PDF
FY2022Filed with the IRS May 9, 2023 $610K$567K$43K$325K 990 PDF
FY2021Filed with the IRS Nov 5, 2021 $562K$532K$30K$283K 990 PDF

Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $716,502 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $60,782$70,276
I-9 Program service revenuePrior year $575,448$598,643
I-10 Investment incomePrior year $356$40,594
I-11 Other revenuePrior year $7,507$6,989
I-12 Total revenuePrior year $644,093$716,502
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 $288,720$282,903
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $380,254$470,293
I-18 Total expensesPrior year $668,974$753,196
I-19 Revenue less expensesPrior year −$24,881−$36,694
Part VI · Governance 16 of 16 board members independent, no flags
VI-1a Voting members of the governing body16
VI-1b Independent voting members16
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 $716,502 across 7 lines filed
VIII-1d Related organizations$51,029
VIII-1f All other contributions, gifts and grants$19,247
VIII-1h Total contributions, gifts and grants$70,276
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $598,643$598,643
VIII-3 Investment incomeUnrelated business $40,594$40,594
VIII-5 RoyaltiesUnrelated business $6,989$6,989
VIII-12 Total revenueRelated to mission $598,643 · Unrelated business $47,583 · Excluded from tax $0$716,502
Part IX · Statement of functional expenses $753,196 across 13 lines filed
IX-5 Pay of current officers, directors and key staff$92,500
IX-7 Other salaries and wages$133,039
IX-8 Pension plan contributions$9,000
IX-9 Other employee benefits$37,029
IX-10 Payroll taxes$11,335
IX-11c Accounting fees$1,422
IX-11g Other fees for services$16,856
IX-12 Advertising and promotion$14,927
IX-14 Information technology$7,671
IX-16 Occupancy$21,961
IX-19 Conferences, conventions and meetings$62,848
IX-23 Insurance$247,574
IX-24 Other expenses (24a–d)$97,034
IX-25 Total functional expenses$753,196
Part X · Balance sheet $232,385 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $64,111$46,797
X-2 Savings and temporary cash investmentsStart of year $103,419$86,150
X-4 Accounts receivableStart of year $54,697$59,132
X-10c Land, buildings and equipment, netStart of year $0$0
X-15 Other assetsStart of year $40,216$40,306
X-16 Total assetsStart of year $262,443$232,385
X-17 Accounts payable and accrued expensesStart of year $10,433$17,069
X-25 Other liabilitiesStart of year $25,000$25,000
X-26 Total liabilitiesStart of year $35,433$42,069
X-27 Net assets without donor restrictionsStart of year $227,010$190,316
X-32 Total net assets or fund balancesStart of year $227,010$190,316
X-33 Total liabilities and net assetsStart of year $262,443$232,385
Part XI · Reconciliation of net assets $190,316 net assets at year end
XI-1 Total revenue$716,502
XI-2 Total expenses$753,196
XI-3 Revenue less expenses−$36,694
XI-4 Net assets at start of year$227,010
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$190,316

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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