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Upsilon Alumni Corporation FY2022 filing

Not tax-deductible

Steger, IL501(c)(7)Mutual / membership EIN 37-6055868Revenue $174K in FY2022

On file with the IRSPo Box 145, 60475-0145 · Steger, ILTax-exempt since Apr 1966

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Provide housing for local active members of delta chi fraternity.

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · 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
1 of 5
filings with a surplus
Average deficit $13K a year · 7% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $25K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.1M
151% of total assets
Concern: liabilities are 151% of assets; over 80%.
Pt X · Ln 26
Independent board members
0
of 6 voting members
Concern: none of 6 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$174K
-29% vs prior year
Spent
$198K
To programs
100%
Net assets
−$386K
By yearFY2021–FY2025
Revenue
$174K
FY2022▼ -29%
Tap a bar for its year
Revenue by fiscal year
FY2021$243K
FY2022$174K
FY2023$179K
FY2024$143K
FY2025$177K
Expenses
$198K
FY2022▼ -1%
Tap a bar for its year
Expenses by fiscal year
FY2021$200K
FY2022$198K
FY2023$193K
FY2024$191K
FY2025$197K
Net assets
−$386K
FY2022▼ -7%
Tap a bar for its year
Net assets by fiscal year
FY2021−$361K
FY2022−$386K
FY2023−$400K
FY2024−$448K
FY2025−$468K

From the FY2022 Form 990 (year ending August 2022) · see the original

990 PDF Claim
You’re viewing the FY2022 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 Apr 1966.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $198K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Rob Novak
President
$0Pt VII · Sec A
Delph Gustitus
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Ray Mathews
Treasurer
$0Pt VII · Sec A
Tim Leahy
Director
$0Pt VII · Sec A
Mike Blaha
Director
$0Pt VII · Sec A
See Upsilon Alumni Corporation 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 housing for local Delta Chi Fraternity members.

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Provided by the organization

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1 program · in their own filed words · FY2021
01

Provide housing for local active chapter of delta chi fraternity.

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 · FY2021
Delta Chi Educational Foundation INCFY2021$25K
Total grants receivedfrom 1 funder$25K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$174K
Ln 12
Fees for servicesLn 2g$174K
Money outPt IX
$198K
Ln 25
Programscol B$198K
Owns and owesPt X
−$386K
net assets · Ln 32
Cash and savingsLn 1–2$2K
Total assetsLn 16$761K
LiabilitiesLn 26$1.1M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$174K
Total revenueLn 12$174K
Assets in detailPt X, end of year
CashLn 1$2K
Cash and savings togetherLn 1–2$2K
Land, buildings, equipmentLn 10c$750K
Total assetsLn 16$761K
LiabilitiesLn 26$1.1M
Net assetsLn 32−$386K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderAugust
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 FY22End FY22
Cash and savingsLn 1–2$2K$2K
Land, buildings, equipmentLn 10c$826K$750K
Total assetsLn 16$835K$761K
LiabilitiesLn 26$1.2M$1.1M
Net assetsLn 32−$361K−$386K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Management feesLn 11a$7K$7K
Accounting feesLn 11c$900$900
Office expensesLn 13$94$94
OccupancyLn 16$49K$49K
InterestLn 20$53K$53K
Depreciation, depletion and amortizationLn 22$77K$77K
InsuranceLn 23$10K$10K
Other expenses (24a–d)Ln 24$2K$2K
Total functional expensesLn 25$198K$198K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $177K$197K−$20K−$468K 990 PDF
FY2024 $143K$191K−$48K−$448K 990 PDF
FY2023 $179K$193K−$14K−$400K 990 PDF
FY2022 Viewing $174K$198K−$24K−$386K 990 PDF
FY2021 $243K$200K$43K−$361K 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 FY2022 990 (6 parts)
Part I · Summary $173,500 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $243,000$173,500
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $243,000$173,500
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 $199,933$197,921
I-18 Total expensesPrior year $199,933$197,921
I-19 Revenue less expensesPrior year $43,067−$24,421
Part VI · Governance 0 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
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 $173,500 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $173,500$173,500
VIII-12 Total revenueRelated to mission $173,500 · Unrelated business $0 · Excluded from tax $0$173,500
Part IX · Statement of functional expenses $197,921 across 8 lines filed
IX-11a Management feesPrograms $6,600$6,600
IX-11c Accounting feesPrograms $900$900
IX-13 Office expensesPrograms $94$94
IX-16 OccupancyPrograms $48,890$48,890
IX-20 InterestPrograms $52,521$52,521
IX-22 Depreciation, depletion and amortizationPrograms $77,440$77,440
IX-23 InsurancePrograms $9,741$9,741
IX-24 Other expenses (24a–d)Programs $1,735$1,735
IX-25 Total functional expensesPrograms $197,921 · Management $0 · Fundraising $0$197,921
Part X · Balance sheet $760,501 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $1,725$1,999
X-10c Land, buildings and equipment, netStart of year $826,183$749,803
X-14 Intangible assetsStart of year $6,904$8,699
X-16 Total assetsStart of year $834,812$760,501
X-17 Accounts payable and accrued expensesStart of year $0$0
X-26 Total liabilitiesStart of year $1,196,186$1,146,296
X-27 Net assets without donor restrictionsStart of year −$361,374−$385,795
X-32 Total net assets or fund balancesStart of year −$361,374−$385,795
X-33 Total liabilities and net assetsStart of year $834,812$760,501
Part XI · Reconciliation of net assets −$385,795 net assets at year end
XI-1 Total revenue$173,500
XI-2 Total expenses$197,921
XI-3 Revenue less expenses−$24,421
XI-4 Net assets at start of year−$361,374
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$385,795

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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