Lambda Chi Alpha Fraternity INC

Yankton, SD · Mutual-benefit / member-serving

Latest data FY2024
Revenue
$1.4M
▲ +98% vs prior year
Spent
$79K
To programs
41%
Net assets
$2.9M

Form 990 for the fiscal year ending December 2024 (IRS tax year 2024).

Figures match the IRS filing checked 9/26/26 · see original: IRS

Status and standing

Tax-deductible?
Not on file
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Foundation funders?
Not on file
Spent on programs?
41% to programs
Form 990 Part IX, latest filing.
Size and trend
$1–10M
↑ +98% vs prior year
Legal name (IRS)Hdr · item CLambda Chi Alpha Fraternity INC
EINHdr · item D36-3464345
Exempt statusHdr · item I501(c)(7) · active
Ruling yearIRS BMFJan 1941
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CYankton, SD
NTEE classificationIRS BMFNonprofit

Where the money goes

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.41 Management & general $0.47 Fundraising $0.12
Program services41%$32K
Management & general47%$37K
Fundraising12%$9K
Total functional expensesLn 25$79K

Financial health

Revenue & expenses by yearFY2021–FY2024
Revenue
$1.4M
FY2024▲ +98%
Expenses
$79K
FY2024▲ +61%
Surplus margin
+94%
revenue over expenses, this year▲ +1% vs prior filing year
Program spending
41%
of expenses reach programs

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Total assets
$3.6M
FY2024▲ +119%
Total liabilities
$663K
FY2024
Revenue less expensesPt I · Ln 19$1.3M
Total assetsPt X · Ln 16$3.6M
Program-expense ratioPt IX · col B41%
Voting members of governing bodyPt I · Ln 36
Independent voting membersPt I · Ln 46

Balance Sheet

Part X · end of year
CashLn 1$180K
Total assetsLn 16$3.6M
Total liabilitiesLn 26$663K
Total net assetsLn 32$2.9M
Months of cash on handcomputed27.4

Statement of Revenue

Part VIII
Contributions & grants$1.3M · 97%
Program service revenue$33K · 2%
Investment income$7K · 1%
Contributions & grants97%$1.3M
Program service revenue2%$33K
Investment income1%$7K
Total revenueLn 12$1.4M

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $180K · Operating expenses/yr $79K
27.4 months
Where the money goes
Program services
Program services $32K · Total expenses $79K
41%
Management & General
Management & general $37K · Total expenses $79K
47%
Fundraising
Fundraising $9K · Total expenses $79K
12%
Cost to raise $1
Fundraising expense (3-yr avg) $29K · Solicited contributions (3-yr avg) $822K
$0.04 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $1.3M · Total revenue $1.4M
97%
Government reliance
Government grants — · Total revenue $1.4M
—
Earned-income share
Program service revenue $33K · Total revenue $1.4M
2%
Investment reliance
Investment income $7K · Total revenue $1.4M
+0.6%
Program self-sufficiency
Program service revenue $33K · Total expenses $79K
42%
Growth & trend
Revenue growth (YoY)
This year $1.4M · Prior year $681K
+98%
Net-asset trend (YoY)
End of year $2.9M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.4M · Expenses $79K
+94%
Liabilities-to-Assets
Total liabilities — · Total assets $3.6M
—
Net-asset ratio
Net assets $2.9M · Total assets $3.6M
81%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) — · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $3.6M
Excludes program-related investments (Pt X, ln 13)
People & payroll
Highest Reported Total Compensation
Individual Terry Schmidt · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $79K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $79K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 41%——
Overhead ratio 47%——
Fundraising cost ratio 0.7%——
Revenue growth 98%——
Investment management fee ratio 0%——
Legal fee ratio 0%——
Accounting fee ratio 2%——

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Leadership and pay

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Lambda Chi Alpha Fraternity INC executive salaries →

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Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a6
Independent voting membersPt VI · Ln 1b6
Conflict-of-interest policyPt VI · Ln 12aNo
Whistleblower policyPt VI · Ln 13No
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Mission and programs

Provides housing and maintains a chapter house for fraternity undergraduates to live and learn.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

1 program service account for $32K of program spending, described in the organization's own filed words · FY2024.
01

Fraternity maintains a chapter to support undergraduates into a welcoming chapter where they may live and learn. Approximately 25 undergraduates benefit from this program.

$32Kprogram expense

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Filing history

YearRevenueExpensesChangeFiling
FY2024 Latest Viewing $1.4M$79K+98% 990 PDF
FY2023 $681K$49K+22% 990 PDF
FY2022 $558K$104K+756% 990 PDF
FY2021 $65K$57K 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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