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Phi Kappa Tau Fraternity FY2024 filing

Not tax-deductible

Hancock, MI501(c)(7)Mutual / membership EIN 38-1555957Revenue $561K in FY2024

On file with the IRSmtu.phikappatau.org1209 W Quincy St, 49930-1444 · Hancock, MITax-exempt since Feb 1941

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The Fraternity promotes friendship and welfare among its members by providing a place to live and by organizing various social events.

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
2 of 2
filings with a surplus
Average surplus $175K a year · 47% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
25 mo
of spending, in cash
Looks good: 25.4 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$561K
+268% vs prior year
Spent
$234K
To programs
0%
Net assets
$582K
By yearFY2021–FY2025
Revenue
$561K
FY2024▲ +268%
Tap a bar for its year
Revenue by fiscal year
FY2021$134K
FY2022$175K
FY2023$153K
FY2024$561K
FY2025$181K
Expenses
$234K
FY2024
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022Not on file
FY2023Not on file
FY2024$234K
FY2025$156K
Net assets
$582K
FY2024▲ +128%
Tap a bar for its year
Net assets by fiscal year
FY2021$263K
FY2022$287K
FY2023$256K
FY2024$582K
FY2025$628K

From the FY2024 Form 990 (year ending June 2024) · see the original

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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 Feb 1941.

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

Who runs it and what they're paid

10 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 Brown
Chapter Pres
$0Pt VII · Sec A
Isaac Miller
Chapter VP
$0Pt VII · Sec A
Ethan Smith
Chapter Trea
$0Pt VII · Sec A
Nick Edwards
Chapter Secr
$0Pt VII · Sec A
Jim Peterson
Financial Ad
$0Pt VII · Sec A
Paul Labine
PR Advisor
$0Pt VII · Sec A
Laura Connolly
Scholarship
$0Pt VII · Sec A
See Phi Kappa Tau 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

Provides housing and social events to foster friendship and member welfare.

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Provided by the organization

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1 program · in their own filed words · FY2023
01

The fraternity promotes friendship and welfare among it's members by providing a place to live and by organizing various social events.

Pt IX · col B

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$561K
Ln 12
Investment incomeLn 3$405K
Fees for servicesLn 2g$154K
Gifts and grantsLn 1h$2K
Money outPt IX
$234K
Ln 25
Owns and owesPt X
$582K
net assets · Ln 32
Cash and savingsLn 1–2$496K
Total assetsLn 16$582K
LiabilitiesLn 26$0
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2K
Fees for servicesLn 2g$154K
Investment incomeLn 3$405K
Gains on assetsLn 7$405K
Total revenueLn 12$561K
Assets in detailPt X, end of year
CashLn 1$6K
SavingsLn 2$490K
Cash and savings togetherLn 1–2$496K
Land, buildings, equipmentLn 10c$86K
Total assetsLn 16$582K
LiabilitiesLn 26$0
Net assetsLn 32$582K
OperationsPt I, VI
EmployeesI 51
Fiscal year endsHeaderJune
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$76K$496K
Land, buildings, equipmentLn 10c$85K$86K
Total assetsLn 16$258K$582K
LiabilitiesLn 26$2K$0
Net assetsLn 32$256K$582K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$14K
Payroll taxesLn 10$1K
Accounting feesLn 11c$7K
Other fees for servicesLn 11g$85K
Advertising and promotionLn 12$448
Office expensesLn 13$366
OccupancyLn 16$52K
Depreciation, depletion and amortizationLn 22$2K
InsuranceLn 23$309
Other expenses (24a–d)Ln 24$68K
All other expensesLn 24e$3K
Total functional expensesLn 25$234K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $181K$156K$24K$628K 990 PDF
FY2024 Viewing $561K$234K$326K$582K 990 PDF
FY2023 $153K$256K 990 PDF
FY2022 $175K$287K 990 PDF
FY2021 $134K$263K 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 $560,885 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,248$1,646
I-9 Program service revenuePrior year $150,336$153,754
I-10 Investment incomePrior year $23$405,485
I-11 Other revenue$0
I-12 Total revenuePrior year $152,607$560,885
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $16,868$15,304
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $166,683$219,185
I-18 Total expensesPrior year $183,551$234,489
I-19 Revenue less expensesPrior year −$30,944$326,396
Part VI · Governance 10 of 10 board members independent, 4 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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 $560,885 across 6 lines filed
VIII-1f All other contributions, gifts and grants$1,646
VIII-1h Total contributions, gifts and grants$1,646
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $153,754$153,754
VIII-3 Investment incomeUnrelated business $301$301
VIII-7 Net gain or loss on sales of assetsUnrelated business $405,184$405,184
VIII-12 Total revenueRelated to mission $153,754 · Unrelated business $405,485$560,885
Part IX · Statement of functional expenses $234,489 across 11 lines filed
IX-7 Other salaries and wages$13,839
IX-10 Payroll taxes$1,465
IX-11c Accounting fees$7,396
IX-11g Other fees for services$84,932
IX-12 Advertising and promotion$448
IX-13 Office expenses$366
IX-16 Occupancy$51,794
IX-22 Depreciation, depletion and amortization$2,111
IX-23 Insurance$309
IX-24 Other expenses (24a–d)$68,422
IX-24e All other expenses$3,407
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$234,489
Part X · Balance sheet $582,193 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $10,230$6,320
X-2 Savings and temporary cash investmentsStart of year $65,368$489,778
X-10c Land, buildings and equipment, netStart of year $85,402$86,095
X-16 Total assetsStart of year $258,098$582,193
X-26 Total liabilitiesStart of year $2,301$0
X-27 Net assets without donor restrictionsStart of year $255,797$582,193
X-32 Total net assets or fund balancesStart of year $255,797$582,193
X-33 Total liabilities and net assetsStart of year $258,098$582,193
Part XI · Reconciliation of net assets $582,193 net assets at year end
XI-1 Total revenue$560,885
XI-2 Total expenses$234,489
XI-3 Revenue less expenses$326,396
XI-4 Net assets at start of year$255,797
XI-10 Net assets at end of year$582,193

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

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