Phi Kappa Psi Fraternity: FY2022 Nonprofit Profile & Form 990 (EIN 41-0479443)

Revenue by fiscal year
FY2021	$320K
FY2022	$375K
FY2023	$369K
FY2024	$325K
FY2025	$363K

Expenses by fiscal year
FY2021	$330K
FY2022	$366K
FY2023	$359K
FY2024	$343K
FY2025	$366K

Net assets by fiscal year
FY2021	$64K
FY2022	$72K
FY2023	$82K
FY2024	$64K
FY2025	$61K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1941.

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

Where the money goes

100 cents of each dollar spent went to programs.

100%

Program services 100% · $366K

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

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII

Benjamin Smet

President

$0Pt VII · Sec A

Christian Lerch

Vice-President

$0Pt VII · Sec A

Connor Behrens

Treasurer

$0Pt VII · Sec A

Will Bents

Corresponding Secretary

$0Pt VII · Sec A

David Nunn

Responding Secretary

$0Pt VII · Sec A

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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 social events and activities for college fraternity members.

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Provided by the organization

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1 program · in their own filed words · FY2021

01

Membership consisted of 96 male undergraduate students attending the university of minnesota. Housing is provided for up to 28 of these members from august 2021 to may 2022. Catered meals were provided to live-in members of the fraternity.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

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from philanthropy.org

1The main four

Money inPt VIII

$375K

Ln 12

Fees for servicesLn 2g$371K

Gifts and grantsLn 1h$2K

Other incomeLn 4–11$2K

Money outPt IX

$366K

Ln 25

Programscol B$366K

Owns and owesPt X

$72K

net assets · Ln 32

Cash and savingsLn 1–2$52K

Total assetsLn 16$83K

LiabilitiesLn 26$10K

PeoplePt VI, VII

5

listed · VII A

PaidVII A0

Voting boardVI 1a81

IndependentVI 1b81

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$2K

Fees for servicesLn 2g$371K

Investment incomeLn 3$295

Other incomeLn 4–11$2K

Total revenueLn 12$375K

Assets in detailPt X, end of year

CashLn 1$52K

Cash and savings togetherLn 1–2$52K

InvestmentsLn 11–13$590

Land, buildings, equipmentLn 10c$2K

Other assetsLn 15$3K

Total assetsLn 16$83K

LiabilitiesLn 26$10K

Net assetsLn 32$72K

OperationsPt I, VI

EmployeesI 50

VolunteersI 681

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

Line	Start FY22	End FY22
Cash and savingsLn 1–2	$44K	$52K
InvestmentsLn 11–13	$390	$590
Land, buildings, equipmentLn 10c	$933	$2K
Total assetsLn 16	$73K	$83K
LiabilitiesLn 26	$9K	$10K
Net assetsLn 32	$64K	$72K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$7K	$7K
Accounting feesLn 11c	$3K	$3K	$0	$0
Office expensesLn 13	$2K	$2K	$0	$0
OccupancyLn 16	$144K	$144K	$0	$0
InterestLn 20	$49	$49	$0	$0
Payments to affiliatesLn 21	$39K	$39K	$0	$0
Depreciation, depletion and amortizationLn 22	$917	$917	$0	$0
InsuranceLn 23	$20K	$20K	$0	$0
Other expenses (24a–d)Ln 24	$149K	$149K	$0	$0
Total functional expensesLn 25	$366K	$366K	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest	$363K	$366K	−$3K	$61K	990 PDF
FY2024	$325K	$343K	−$18K	$64K	990 PDF
FY2023	$369K	$359K	$10K	$82K	990 PDF
FY2022 Viewing	$375K	$366K	$9K	$72K	990 PDF
FY2021	$320K	$330K	−$10K	$64K	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 FY2022 990 (6 parts)

Part I · Summary $374,627 revenue, 12 lines filed

I-8 Contributions and grants$1,817

I-9 Program service revenuePrior year $318,341$370,974

I-10 Investment incomePrior year $24$295

I-11 Other revenuePrior year $1,344$1,541

I-12 Total revenuePrior year $319,709$374,627

I-13 Grants and similar amounts paidPrior year $2,500$6,928

I-14 Benefits paid to members$0

I-15 Salaries and benefits$0

I-16a Professional fundraising fees$0

I-17 Other expensesPrior year $327,317$358,863

I-18 Total expensesPrior year $329,817$365,791

I-19 Revenue less expensesPrior year −$10,108$8,836

Part VI · Governance 81 of 81 board members independent, 4 to look at

VI-1a Voting members of the governing body81

VI-1b Independent voting members81

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 $374,627 across 7 lines filed

VIII-1f All other contributions, gifts and grants$1,817

VIII-1h Total contributions, gifts and grants$1,817

VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$370,974

VIII-3 Investment incomeUnrelated business $295 · Excluded from tax $0$295

VIII-8 Net income from fundraising eventsUnrelated business $1,309 · Excluded from tax $0$1,309

VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $232 · Unrelated business $0 · Excluded from tax $0$232

VIII-12 Total revenueRelated to mission $371,206 · Unrelated business $1,604 · Excluded from tax $0$374,627

Part IX · Statement of functional expenses $365,791 across 9 lines filed

IX-1 Grants to domestic organizationsPrograms $6,928$6,928

IX-11c Accounting feesPrograms $3,277 · Management $0 · Fundraising $0$3,277

IX-13 Office expensesPrograms $1,857 · Management $0 · Fundraising $0$1,857

IX-16 OccupancyPrograms $144,296 · Management $0 · Fundraising $0$144,296

IX-20 InterestPrograms $49 · Management $0 · Fundraising $0$49

IX-21 Payments to affiliatesPrograms $38,838 · Management $0 · Fundraising $0$38,838

IX-22 Depreciation, depletion and amortizationPrograms $917 · Management $0 · Fundraising $0$917

IX-23 InsurancePrograms $20,244 · Management $0 · Fundraising $0$20,244

IX-24 Other expenses (24a–d)Programs $149,385 · Management $0 · Fundraising $0$149,385

IX-25 Total functional expensesPrograms $365,791 · Management $0 · Fundraising $0$365,791

Part X · Balance sheet $82,642 assets, 10 lines filed

X-1 Cash, non-interest-bearingStart of year $43,768$52,040

X-4 Accounts receivableStart of year $24,930$24,722

X-10c Land, buildings and equipment, netStart of year $933$2,390

X-13 Program-related investmentsStart of year $390$590

X-15 Other assetsStart of year $2,900$2,900

X-16 Total assetsStart of year $72,921$82,642

X-17 Accounts payable and accrued expensesStart of year $8,908$10,243

X-26 Total liabilitiesStart of year $9,358$10,243

X-32 Total net assets or fund balancesStart of year $63,563$72,399

X-33 Total liabilities and net assetsStart of year $72,921$82,642

Part XI · Reconciliation of net assets $72,399 net assets at year end

XI-1 Total revenue$374,627

XI-2 Total expenses$365,791

XI-3 Revenue less expenses$8,836

XI-4 Net assets at start of year$63,563

XI-10 Net assets at end of year$72,399

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

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Phi Kappa Psi Fraternity FY2022 filing

Before you give

Is it real?

Where the money goes

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Phi Kappa Psi Fraternity

By the numbers

Filing history

Schedules filed Part IV