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Delta Chi Fraternity-Ill Chapter FY2024 filing

Not tax-deductible

Champaign, IL501(c)(7)Mutual / membership EIN 37-0661729Revenue $637K in FY2024

On file with the IRS1701 Broadmoor Dr Ste 200, 61821-5968 · Champaign, ILTax-exempt since May 1941

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Provide room, board and/or social activities for members

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2024 · 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
5 of 6
filings with a surplus
Average surplus $8K a year · 1% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$88K
90% of total assets
Concern: liabilities are 90% of assets; over 80%.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$637K
+13% vs prior year
Spent
$615K
Net assets
$10K
By yearFY2020–FY2025
Revenue
$637K
FY2024▲ +13%
Tap a bar for its year
Revenue by fiscal year
FY2020$486K
FY2021$636K
FY2022$552K
FY2023$566K
FY2024$637K
FY2025$721K
Expenses
$615K
FY2024▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2020$454K
FY2021$595K
FY2022$536K
FY2023$656K
FY2024$615K
FY2025$691K
Net assets
$10K
FY2024▲ +193%
Tap a bar for its year
Net assets by fiscal year
FY2020$23K
FY2021$64K
FY2022$80K
FY2023−$11K
FY2024$10K
FY2025$41K

From the FY2024 Form 990 (year ending July 2024) · figures checked against the IRS filing · see the original

990 PDF Claim
You’re viewing the FY2024 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 ruling in May 1941.

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

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Paul Niculescu
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Mike Polachek
Treasurer
$0Pt VII · Sec A
See Delta Chi Fraternity-Ill 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

Offers members housing, meals, and social events.

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1 program · in their own filed words · FY2023
01

Provide room, board and OR/SOCIAL activities for members

Pt IX · col B

By the numbers

The FY2024 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$637K
Ln 12
Fees for servicesLn 2g$632K
Gifts and grantsLn 1h$4K
Money outPt IX
$615K
Ln 25
Owns and owesPt X
$10K
net assets · Ln 32
Cash and savingsLn 1–2$47K
Total assetsLn 16$98K
LiabilitiesLn 26$88K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4K
Fees for servicesLn 2g$632K
Total revenueLn 12$637K
Assets in detailPt X, end of year
CashLn 1$47K
Cash and savings togetherLn 1–2$47K
Land, buildings, equipmentLn 10c$48K
Total assetsLn 16$98K
LiabilitiesLn 26$88K
Net assetsLn 32$10K
OperationsPt I, VI
EmployeesI 50
VolunteersI 64
Fiscal year endsHeaderJuly
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 FY24End FY24
Cash and savingsLn 1–2$8K$47K
Land, buildings, equipmentLn 10c$39K$48K
Total assetsLn 16$51K$98K
LiabilitiesLn 26$62K$88K
Net assetsLn 32−$11K$10K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$8K
OccupancyLn 16$222K
Depreciation, depletion and amortizationLn 22$3K
Other expenses (24a–d)Ln 24$351K
All other expensesLn 24e$32K
Total functional expensesLn 25$615K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $721K$691K$31K$41K 990 PDF
FY2024 Viewing $637K$615K$21K$10K 990 PDF
FY2023 $566K$656K−$91K−$11K 990 PDF
FY2022 $552K$536K$15K$80K 990 PDF
FY2021 $636K$595K$41K$64K 990 PDF
FY2020 $486K$454K$32K$23K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $636,561 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $9,445$4,200
I-9 Program service revenuePrior year $553,922$632,361
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $2,226$0
I-12 Total revenuePrior year $565,593$636,561
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 $656,460$615,328
I-18 Total expensesPrior year $656,460$615,328
I-19 Revenue less expensesPrior year −$90,867$21,233
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
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 $636,561 across 4 lines filed
VIII-1f All other contributions, gifts and grants$4,200
VIII-1h Total contributions, gifts and grants$4,200
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $632,361$632,361
VIII-12 Total revenueRelated to mission $632,361 · Unrelated business $0 · Excluded from tax $0$636,561
Part IX · Statement of functional expenses $615,328 across 5 lines filed
IX-11c Accounting fees$8,240
IX-16 Occupancy$221,794
IX-22 Depreciation, depletion and amortization$3,198
IX-24 Other expenses (24a–d)$350,540
IX-24e All other expenses$31,556
IX-25 Total functional expenses$615,328
Part X · Balance sheet $97,742 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $8,270$46,835
X-4 Accounts receivableStart of year $4,150$2,682
X-10c Land, buildings and equipment, netStart of year $38,720$48,225
X-16 Total assetsStart of year $51,140$97,742
X-17 Accounts payable and accrued expensesStart of year $3,246$45,118
X-19 Deferred revenueStart of year $58,896$42,393
X-26 Total liabilitiesStart of year $62,142$87,511
X-27 Net assets without donor restrictionsStart of year −$11,002$10,231
X-32 Total net assets or fund balancesStart of year −$11,002$10,231
X-33 Total liabilities and net assetsStart of year $51,140$97,742
Part XI · Reconciliation of net assets $10,231 net assets at year end
XI-1 Total revenue$636,561
XI-2 Total expenses$615,328
XI-3 Revenue less expenses$21,233
XI-4 Net assets at start of year−$11,002
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$10,231

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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