Chi Psi Fraternity FY2024 filing

Not tax-deductible

Nashville, TN501(c)(7)Since 1947EIN 38-6089059

To create and maintain an enduring society which stimulates intellectual, ethical and social growth and encourages the sharing of traditions and values.

$313K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
3 of 5
filings with a surplus
Average surplus $132K a year · 7% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$313K
to officers and key staff · 14% of spending
Looks good: pay to officers and key staff is 14% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.8 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $380K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$2.7M
55% of total assets
Fine: liabilities are 55% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
10
of 11 voting members
Looks good: 10 of 11 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.7M
+12% vs prior year
Spent
$2.2M
To programs
0%
Net assets
$2.2M
By yearFY2020–FY2024
Revenue
$2.7M
FY2024▲ +12%
Revenue by fiscal year
FY2020$1.4M
FY2021$1.5M
FY2022$1.6M
FY2023$2.4M
FY2024$2.7M
FY2024$2.0M
Expenses
$2.2M
FY2024▲ +4%
Expenses by fiscal year
FY2020$1.4M
FY2021$1.4M
FY2022$1.7M
FY2023$2.1M
FY2024$2.2M
FY2024$2.2M
Net assets
$2.2M
FY2024▲ +25%
Net assets by fiscal year
FY2020$1.5M
FY2021$1.7M
FY2022$1.5M
FY2023$1.8M
FY2024$2.2M
FY2024$2.0M

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

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1947.

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

Who runs it and what they're paid

13 people listed on the 990; $313K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Chf Advancem
$124,618Pt VII · Sec A
Exec. Dir. (
$103,769Pt VII · Sec A
Exec. Dir. (
$84,170Pt VII · Sec A
$0Pt VII · Sec A
Vice Chairma
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Member
$0Pt VII · Sec A

Compensation history total reportable pay by year · 3 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Sam Bessey$134,638$124,618$144,807$112,250$112,250$123,097
Kyle Phillips$109,230$103,769————
Harold Arnwine—$84,170$97,690———

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Fosters intellectual, ethical, and social growth while encouraging tradition and value sharing.

Provided by the organization

This section is blank until Chi Psi Fraternity claims this page.

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1 program service, described in the organization's own filed words · FY2023.
01

The fraternity is organized to cultivate a unique environment which instills lifelong commitment to brotherhood. In this pursuit, the fraternity encourages leadership, respect for oneself and others, and responsibility to the university and community.

Pt IX · col B

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Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$380K
Grants paid · 10 grants · $66K · 2020–2020
Alpha Beta of Chi Psi FraternityFY2020$10,200
Alpha Psi Delta of Chi Psi FraternityFY2020$8,100
Alpha Rho Delta of Chi Psi FraternityFY2020$6,700
Alpha Upsilon Delta of Chi Psi FraternityFY2020$6,300
Chi Psi FraternityNJ · FY2020$6,100
Alpha Iota of Chi Psi FraternityFY2020$6,100
Chi Psi FraternityNC · FY2020$6,000
Alpha Omicron DeltaVA · FY2020$6,000
Chi Psi FraternityNY · FY2020$5,600
Chi Psi FraternityNY · FY2020$5,300

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$2.7M
Ln 12
Fees for servicesLn 2g$1.8M
Gifts and grantsLn 1h$838K
Other incomeLn 4–11$39K
Money outPt IX
$2.2M
Ln 25
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$140K
Total assetsLn 16$4.9M
LiabilitiesLn 26$2.7M
PeoplePt VI, VII
13
listed · VII A
PaidVII A3
Voting boardVI 1a11
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$838K
Fees for servicesLn 2g$1.8M
Investment incomeLn 3$7K
Other incomeLn 4–11$39K
Gains on assetsLn 7−$518
Total revenueLn 12$2.7M
Assets in detailPt X, end of year
CashLn 1$128K
SavingsLn 2$12K
Cash and savings togetherLn 1–2$140K
InvestmentsLn 11–13$844K
Land, buildings, equipmentLn 10c$2.9M
Other assetsLn 15$881K
Total assetsLn 16$4.9M
LiabilitiesLn 26$2.7M
Net assetsLn 32$2.2M
OperationsPt I, VI
EmployeesI 519
VolunteersI 615
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$284K$140K
InvestmentsLn 11–13$747K$844K
Land, buildings, equipmentLn 10c$2.4M$2.9M
Total assetsLn 16$3.9M$4.9M
LiabilitiesLn 26$2.1M$2.7M
Net assetsLn 32$1.8M$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$343K
Other salaries and wagesLn 7$674K
Pension plan contributionsLn 8$47K
Other employee benefitsLn 9$107K
Payroll taxesLn 10$85K
Legal feesLn 11b$195
Accounting feesLn 11c$23K
Investment management feesLn 11f$983
Other fees for servicesLn 11g$60K
Office expensesLn 13$37K
Information technologyLn 14$57K
OccupancyLn 16$73K
TravelLn 17$51K
Conferences, conventions and meetingsLn 19$334K
InterestLn 20$39K
Depreciation, depletion and amortizationLn 22$115K
Other expenses (24a–d)Ln 24$174K
Total functional expensesLn 25$2.2M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $2.7M$2.2M$445K$2.2M 990 PDF
FY2023 $2.4M$2.1M$255K$1.8M 990 PDF
FY2022 $1.6M$1.7M−$104K$1.5M 990 PDF
FY2021 $1.5M$1.4M$129K$1.7M 990 PDF
FY2020 $1.4M$1.4M−$63K$1.5M 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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $2,665,111 across 9 lines filed
Lines not itemized here account for −$9,551 of total revenue; see the IRS return.
VIII-1d Related organizations$70,000
VIII-1f All other contributions, gifts and grants$768,016
VIII-1h Total contributions, gifts and grants$838,016
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,781,326$1,781,326
VIII-3 Investment incomeUnrelated business $7,538$7,538
VIII-6 Net rental income or lossExcluded from tax $47,925$47,925
VIII-7 Net gain or loss on sales of assetsUnrelated business −$518−$518
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $375$375
VIII-12 Total revenueRelated to mission $1,781,326 · Unrelated business $7,020 · Excluded from tax $38,749$2,665,111
Part IX · Statement of functional expenses $2,220,259 across 17 lines filed
IX-5 Pay of current officers, directors and key staff$343,262
IX-7 Other salaries and wages$673,572
IX-8 Pension plan contributions$47,184
IX-9 Other employee benefits$106,513
IX-10 Payroll taxes$85,420
IX-11b Legal fees$195
IX-11c Accounting fees$23,262
IX-11f Investment management fees$983
IX-11g Other fees for services$59,678
IX-13 Office expenses$37,052
IX-14 Information technology$57,126
IX-16 Occupancy$73,268
IX-17 Travel$51,176
IX-19 Conferences, conventions and meetings$334,027
IX-20 Interest$39,251
IX-22 Depreciation, depletion and amortization$114,601
IX-24 Other expenses (24a–d)$173,689
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$2,220,259
Part X · Balance sheet $4,945,842 assets, 15 lines filed
Asset lines not itemized here account for $12,902; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $241,484$128,372
X-2 Savings and temporary cash investmentsStart of year $42,402$11,718
X-4 Accounts receivableStart of year $161,650$173,226
X-9 Prepaid expenses and deferred chargesStart of year $97,163$38,827
X-10c Land, buildings and equipment, netStart of year $2,357,264$2,856,516
X-11 Publicly traded securitiesStart of year $747,276$843,667
X-15 Other assetsStart of year $270,264$880,614
X-16 Total assetsStart of year $3,917,503$4,945,842
X-17 Accounts payable and accrued expensesStart of year $292,080$112,781
X-19 Deferred revenueStart of year $95,330$78,162
X-25 Other liabilitiesStart of year $1,075,328$1,873,417
X-26 Total liabilitiesStart of year $2,129,325$2,703,379
X-27 Net assets without donor restrictionsStart of year $1,788,178$2,242,463
X-32 Total net assets or fund balancesStart of year $1,788,178$2,242,463
X-33 Total liabilities and net assetsStart of year $3,917,503$4,945,842
Part XI · Reconciliation of net assets $2,242,463 net assets at year end
XI-1 Total revenue$2,665,111
XI-2 Total expenses$2,220,259
XI-3 Revenue less expenses$444,852
XI-4 Net assets at start of year$1,788,178
XI-5 Net unrealized gains (losses) on investments$9,433
XI-10 Net assets at end of year$2,242,463

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

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