Phi Sigma Kappa Assoc of Illinois FY2021 filing

Downers Grove, IL501(c)(7)Mutual / membership EIN 37-6046708Revenue $37K in FY2021Latest return filed Dec 16, 2025

On file with the IRS4708 Woodward Ave, 60515-3335 · Downers Grove, ILTax-exempt since Dec 1940

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College fraternity alumni organization that is a social group and provides leadership and stewardship to the undergraduate chapter.

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
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 $7K a year · 5% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
24 mo
of spending, in cash
Looks good: 24.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$222K
11% of total assets
Looks good: liabilities are 11% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 9 voting members
Concern: none of 9 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$37K
-50% vs prior year
Spent
$38K
To programs
0%
Net assets
$1.7M
By yearFY2020–FY2025
Revenue
$37K
FY2021▼ -50%
Tap a bar for its year
Revenue by fiscal year
FY2020$75K
FY2021$37K
FY2022$17K
FY2023$235K
FY2024$207K
FY2025$212K
Expenses
$38K
FY2021▼ -7%
Tap a bar for its year
Expenses by fiscal year
FY2020$41K
FY2021$38K
FY2022$54K
FY2023$226K
FY2024$173K
FY2025$209K
Net assets
$1.7M
FY2021▲ +2%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.7M
FY2021$1.7M
FY2022$1.7M
FY2023$1.8M
FY2024$1.8M
FY2025$1.8M

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

990 PDF Claim
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 Dec 1940.

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

Who runs it and what they're paid

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Phi Sigma Kappa Assoc of Illinois 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 15aNo

Programs and updates

Supports undergraduate chapter through leadership, stewardship, and alumni connection.

Questions for Phi Sigma Kappa Assoc of Illinois

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1 program · in their own filed words · FY2020
01

College fraternity alumni organization that is a social club and provides stewardship and leadership to the undergraduate chapter.

Pt IX · col B

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$37K
Ln 12
Other incomeLn 4–11$27K
Gifts and grantsLn 1h$11K
Money outPt IX
$38K
Ln 25
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$78K
Total assetsLn 16$2.0M
LiabilitiesLn 26$222K
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$11K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$11K
Other incomeLn 4–11$27K
Total revenueLn 12$37K
Assets in detailPt X, end of year
CashLn 1$28K
SavingsLn 2$50K
Cash and savings togetherLn 1–2$78K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$1.9M
Other assetsLn 15$0
Total assetsLn 16$2.0M
LiabilitiesLn 26$222K
Net assetsLn 32$1.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
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 FY21End FY21
Cash and savingsLn 1–2$59K$78K
InvestmentsLn 11–13$0$0
Land, buildings, equipmentLn 10c$1.9M$1.9M
Total assetsLn 16$1.9M$2.0M
LiabilitiesLn 26$236K$222K
Net assetsLn 32$1.7M$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$6K
Office expensesLn 13$361
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$32K
Total functional expensesLn 25$38K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Dec 16, 2025 $212K$209K$3K$1.8M 990 PDF
FY2024Filed with the IRS Dec 16, 2024 $207K$173K$35K$1.8M 990 PDF
FY2023Filed with the IRS Sep 11, 2023 $235K$226K$9K$1.8M 990 PDF
FY2022Filed with the IRS Dec 12, 2022 $17K$54K−$37K$1.7M 990 PDF
FY2021 ViewingFiled with the IRS Jan 20, 2022 $37K$38K−$967$1.7M 990 PDF
FY2020Filed with the IRS Mar 23, 2022 $75K$41K$33K$1.7M 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 FY2021 990 (6 parts)
Part I · Summary $37,352 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $11,345$10,838
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $63,180$26,514
I-12 Total revenuePrior year $74,525$37,352
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 $41,411$38,319
I-18 Total expensesPrior year $41,411$38,319
I-19 Revenue less expensesPrior year $33,114−$967
Part VI · Governance 0 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members0
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 $37,352 across 10 lines filed
Lines not itemized here account for $8 of total revenue; see the IRS return.
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$10,838
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$10,838
VIII-6 Net rental income or lossRelated to mission $26,506 · Unrelated business $0 · Excluded from tax $0$26,506
VIII-12 Total revenueRelated to mission $26,506 · Unrelated business $8 · Excluded from tax $0$37,352
Part IX · Statement of functional expenses $38,319 across 22 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-12 Advertising and promotion$5,755
IX-13 Office expenses$361
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$32,203
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$38,319
Part X · Balance sheet $1,951,108 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $42,195$27,561
X-2 Savings and temporary cash investmentsStart of year $16,335$50,031
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-10c Land, buildings and equipment, netStart of year $1,873,516$1,873,516
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $1,932,046$1,951,108
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $235,689$221,979
X-27 Net assets without donor restrictionsStart of year $1,696,357$1,729,129
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,696,357$1,729,129
X-33 Total liabilities and net assetsStart of year $1,932,046$1,951,108
Part XI · Reconciliation of net assets $1,729,129 net assets at year end
XI-1 Total revenue$37,352
XI-2 Total expenses$38,319
XI-3 Revenue less expenses−$967
XI-4 Net assets at start of year$1,696,357
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments−$311
XI-9 Other changes in net assets$34,050
XI-10 Net assets at end of year$1,729,129

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

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