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Chi Psi Fraternity FY2021 filing

Not tax-deductible

Minneapolis, MN501(c)(7)Mutual / membership EIN 41-0704202Revenue $284K in FY2021Latest return filed Dec 4, 2025

On file with the IRSchipsiumn.comMinneapolis, MNTax-exempt since May 1947

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Social club at university of MN providing collegiate Fraternity housing, activities and environment

Form 990 Part I, line 1, FY2021. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 41-0704202) · Dispute this line
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

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
The IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
The latest return is for FY2025, 1 tax year back.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $22K a year · 7% of revenue · last 5 filings
A surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
100% of spending went to programs.
Pt IX · Ln 25 · col B
Cash reserves
1.8 mo
of spending, in cash
1.8 months of spending in cash.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$30K
45% of total assets
Liabilities are 45% of assets.
Pt X · Ln 26
Independent board members
54
of 54 voting members
54 of 54 voting members are independent.
Pt VI · Ln 1a–1b
In line with peersDifferent from peersFar from peersNo peer rangeNo data yetTap a box for the reason.
Revenue
$284K
Spent
$298K
To programs
100%
Net assets
$37K
By yearFY2021–FY2025
Revenue
$284K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$284K
FY2022$344K
FY2023$373K
FY2024$297K
FY2025$344K
Expenses
$298K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$298K
FY2022$355K
FY2023$399K
FY2024$346K
FY2025$352K
Net assets
$37K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$37K
FY2022$26K
FY2023−$577
FY2024−$50K
FY2025−$58K

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

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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 May 1947.

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% · $298K

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

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Ian Stratmoen
President
$0Pt VII · Sec A
Ryan Easter
Internal VP
$0Pt VII · Sec A
Thomas Haggard
External VP
$0Pt VII · Sec A
$0Pt VII · Sec A
See Chi Psi Fraternity 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

Offers fraternity housing, activities, and a supportive environment for university students.

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1 program · in their own filed words · FY2020
01

Membership was 41 male undergraduate students attending the university

Form 990 Part III, line 4, FY2020. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 41-0704202) · Dispute this line
Pt IX · Ln 25 · col B

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$284K
Ln 12
Fees for servicesLn 2g$283K
Gifts and grantsLn 1h$525
Other incomeLn 4–11$417
Money outPt IX
$298K
Ln 25
Programscol B$298K
Owns and owesPt X
$37K
net assets · Ln 32
Cash and savingsLn 1–2$44K
Total assetsLn 16$67K
LiabilitiesLn 26$30K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a54
IndependentVI 1b54
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$525
Fees for servicesLn 2g$283K
Investment incomeLn 3$82
Other incomeLn 4–11$417
Total revenueLn 12$284K
Assets in detailPt X, end of year
CashLn 1$24K
SavingsLn 2$19K
Cash and savings togetherLn 1–2$44K
Accounts receivableLn 4$16K
Inventories for sale or useLn 8$200
Land, buildings, equipmentLn 10c$2K
InvestmentsLn 11–13$840
Other assetsLn 15$4K
Total assetsLn 16$67K
LiabilitiesLn 26$30K
Net assetsLn 32$37K
OperationsPt I, VI
EmployeesI 51
VolunteersI 659
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$68K$44K
InvestmentsLn 11–13$1K$840
Land, buildings, equipmentLn 10c$4K$2K
Total assetsLn 16$91K$67K
LiabilitiesLn 26$41K$30K
Net assetsLn 32$50K$37K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$2K$2K
Other salaries and wagesLn 7$31K$31K
Payroll taxesLn 10$2K$2K
Accounting feesLn 11c$5K$5K
Office expensesLn 13$1K$1K
OccupancyLn 16$158K$158K
Conferences, conventions and meetingsLn 19$2K$2K
InterestLn 20$41$41
Payments to affiliatesLn 21$10K$10K
Depreciation, depletion and amortizationLn 22$2K$2K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$72K$72K
Total functional expensesLn 25$298K$298K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 LatestFiled with the IRS Dec 4, 2025 $344K$352K−$8K−$58K 990 PDF
FY2024Filed with the IRS Jun 5, 2025 $297K$346K−$49K−$50K 990 PDF
FY2023Filed with the IRS Dec 15, 2023 $373K$399K−$26K−$577 990 PDF
FY2022Filed with the IRS Dec 13, 2022 $344K$355K−$11K$26K 990 PDF
FY2021 ViewingFiled with the IRS Dec 9, 2021 $284K$298K−$14K$37K 990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations
See the full FY2021 990
Part I · Summary $284,467 revenue, 12 lines filed
I-8 Contributions and grants$525
I-9 Program service revenuePrior year $314,955$283,443
I-10 Investment incomePrior year $309$82
I-11 Other revenuePrior year $6,487$417
I-12 Total revenuePrior year $321,751$284,467
I-13 Grants and similar amounts paidPrior year $2,652$2,335
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $34,161$33,874
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $256,685$262,023
I-18 Total expensesPrior year $293,498$298,232
I-19 Revenue less expensesPrior year $28,253−$13,765
Part VI · Governance 54 of 54 board members independent, 4 to look at
VI-1a Voting members of the governing body54
VI-1b Independent voting members54
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 $284,467 across 7 lines filed
VIII-1f All other contributions, gifts and grants$525
VIII-1h Total contributions, gifts and grants$525
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $282,643 · Unrelated business $800$283,443
VIII-3 Investment incomeUnrelated business $82$82
VIII-8 Net income from fundraising eventsUnrelated business $360$360
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $57$57
VIII-12 Total revenueRelated to mission $282,700 · Unrelated business $1,242$284,467
Part IX · Statement of functional expenses $298,232 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $2,335$2,335
IX-7 Other salaries and wagesPrograms $31,378$31,378
IX-10 Payroll taxesPrograms $2,496$2,496
IX-11c Accounting feesPrograms $4,961$4,961
IX-13 Office expensesPrograms $1,291$1,291
IX-16 OccupancyPrograms $158,078$158,078
IX-19 Conferences, conventions and meetingsPrograms $1,830$1,830
IX-20 InterestPrograms $41$41
IX-21 Payments to affiliatesPrograms $10,290$10,290
IX-22 Depreciation, depletion and amortizationPrograms $1,713$1,713
IX-23 InsurancePrograms $12,279$12,279
IX-24 Other expenses (24a–d)Programs $71,540$71,540
IX-25 Total functional expensesPrograms $298,232 · Management $0 · Fundraising $0$298,232
Part X · Balance sheet $66,621 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $32,848$24,439
X-2 Savings and temporary cash investmentsStart of year $35,558$19,131
X-4 Accounts receivableStart of year $13,694$16,046
X-8 Inventories for sale or useStart of year $200$200
X-10c Land, buildings and equipment, netStart of year $3,677$1,965
X-13 Program-related investmentsStart of year $1,268$840
X-15 Other assetsStart of year $4,000$4,000
X-16 Total assetsStart of year $91,245$66,621
X-17 Accounts payable and accrued expensesStart of year $19,495$23,101
X-19 Deferred revenueStart of year $4,800$6,800
X-26 Total liabilitiesStart of year $40,761$29,901
X-30 Paid-in or capital surplusStart of year $50,484$36,720
X-32 Total net assets or fund balancesStart of year $50,484$36,720
X-33 Total liabilities and net assetsStart of year $91,245$66,621
Part XI · Reconciliation of net assets $36,720 net assets at year end
XI-1 Total revenue$284,467
XI-2 Total expenses$298,232
XI-3 Revenue less expenses−$13,765
XI-4 Net assets at start of year$50,484
XI-9 Other changes in net assets$1
XI-10 Net assets at end of year$36,720

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

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