Phi Kappa Psi Fraternity FY2021 filing

Not tax-deductible

Champaign, IL501(c)(7)EIN 37-0676169

Provide room, board and social activities for active members

Mission: Form 990 Part I, line 1

Before you give

FY2021 · 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 $57K a year · 7% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
2 mo
of spending, in cash
Fine: 1.7 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$158K
57% of total assets
Fine: liabilities are 57% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
19
of 19 voting members
Looks good: 19 of 19 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$764K
Spent
$755K
Net assets
$120K
By yearFY2021–FY2025
Revenue
$764K
FY2021
Revenue by fiscal year
FY2021$764K
FY2022$922K
FY2023$769K
FY2024$753K
FY2025$851K
Expenses
$755K
FY2021
Expenses by fiscal year
FY2021$755K
FY2022$882K
FY2023$986K
FY2024$865K
FY2025$856K
Net assets
$120K
FY2021
Net assets by fiscal year
FY2021$120K
FY2022$160K
FY2023−$58K
FY2024−$169K
FY2025−$174K

From the FY2021 Form 990 (year ending May 2021) · see the original

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You’re viewing the FY2021 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 Jan 1941.

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

Who runs it and what they're paid

19 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Treasurer
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
Service/Philanthropy
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Phi Kappa Psi Fraternity 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 lodging, meals, and social events for active members.

Provided by the organization

This section is blank until Phi Kappa Psi Fraternity claims this page.

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1 program service, described in the organization's own filed words · FY2020.
01

Provide room, board AND/OR social activities for active members

Pt IX · col B

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By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$764K
Ln 12
Fees for servicesLn 2g$764K
Money outPt IX
$755K
Ln 25
Owns and owesPt X
$120K
net assets · Ln 32
Cash and savingsLn 1–2$104K
Total assetsLn 16$277K
LiabilitiesLn 26$158K
PeoplePt VI, VII
19
listed · VII A
PaidVII A0
Voting boardVI 1a19
IndependentVI 1b19
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$764K
Total revenueLn 12$764K
Assets in detailPt X, end of year
CashLn 1$104K
Cash and savings togetherLn 1–2$104K
Land, buildings, equipmentLn 10c$2K
Total assetsLn 16$277K
LiabilitiesLn 26$158K
Net assetsLn 32$120K
OperationsPt I, VI
EmployeesI 50
VolunteersI 619
Fiscal year endsHeaderMay
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 FY21End FY21
Cash and savingsLn 1–2$121K$104K
Land, buildings, equipmentLn 10c$2K$2K
Total assetsLn 16$244K$277K
LiabilitiesLn 26$134K$158K
Net assetsLn 32$110K$120K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$11K
OccupancyLn 16$554K
Depreciation, depletion and amortizationLn 22$791
InsuranceLn 23$19K
Other expenses (24a–d)Ln 24$158K
All other expensesLn 24e$13K
Total functional expensesLn 25$755K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $851K$856K−$5K−$174K 990 PDF
FY2024 $753K$865K−$111K−$169K 990 PDF
FY2023 $769K$986K−$217K−$58K 990 PDF
FY2022 $922K$882K$40K$160K 990 PDF
FY2021 Viewing $764K$755K$9K$120K 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 FY2021 990 (4 parts)
Part VIII · Statement of revenue $764,304 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $764,304$764,304
VIII-12 Total revenueRelated to mission $764,304 · Unrelated business $0 · Excluded from tax $0$764,304
Part IX · Statement of functional expenses $754,889 across 6 lines filed
IX-11c Accounting fees$10,648
IX-16 Occupancy$553,945
IX-22 Depreciation, depletion and amortization$791
IX-23 Insurance$19,054
IX-24 Other expenses (24a–d)$157,744
IX-24e All other expenses$12,707
IX-25 Total functional expenses$754,889
Part X · Balance sheet $277,353 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $120,608$104,059
X-4 Accounts receivableStart of year $121,207$171,592
X-10c Land, buildings and equipment, netStart of year $2,493$1,702
X-16 Total assetsStart of year $244,308$277,353
X-17 Accounts payable and accrued expensesStart of year $3,587$2,146
X-25 Other liabilitiesStart of year $130,553$155,624
X-26 Total liabilitiesStart of year $134,140$157,770
X-27 Net assets without donor restrictionsStart of year $110,168$119,583
X-32 Total net assets or fund balancesStart of year $110,168$119,583
X-33 Total liabilities and net assetsStart of year $244,308$277,353
Part XI · Reconciliation of net assets $119,583 net assets at year end
XI-1 Total revenue$764,304
XI-2 Total expenses$754,889
XI-3 Revenue less expenses$9,415
XI-4 Net assets at start of year$110,168
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$119,583

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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