Phi Kappa Psi Fraternity FY2022 filing

Not tax-deductible

Lincoln, NE501(c)(7)EIN 47-0269350

Local chapter of a national collegiate social fraternity.

Mission: Form 990 Part I, line 1

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
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 4
filings with a surplus
Average surplus $14K a year · 6% of revenue · last 4 filings
Fine: a surplus in 3 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
1 mo
of spending, in cash
Fine: 1.3 months of spending in cash; 1 to 3.
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
0
of 4 voting members
Concern: none of 4 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$234K
+3% vs prior year
Spent
$219K
To programs
0%
Net assets
$23K
By yearFY2020–FY2024
Revenue
$234K
FY2022▲ +3%
Revenue by fiscal year
FY2020$163K
FY2021$227K
FY2022$234K
FY2023$225K
FY2024$256K
Expenses
$219K
FY2022▼ -1%
Expenses by fiscal year
FY2020Not on file
FY2021$222K
FY2022$219K
FY2023$232K
FY2024$215K
Net assets
$23K
FY2022▲ +206%
Net assets by fiscal year
FY2020$2K
FY2021$8K
FY2022$23K
FY2023$16K
FY2024$57K

From the FY2022 Form 990 · see the original

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You’re viewing the FY2022 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 Dec 1972.

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

Who runs it and what they're paid

4 people listed on the 990.

Part VII, Section A · reportable compensation
New Member E
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice Preside
$0Pt VII · Sec A
See Phi Kappa Psi 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

Organizes social events and leadership development for college men.

Provided by the organization

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1 program service, described in the organization's own filed words · FY2022.
01

Provided meals, housing and social programs for the local social fraternity members - total of 46 members for the year.

Pt IX · col B

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By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$234K
Ln 12
Fees for servicesLn 2g$234K
Money outPt IX
$219K
Ln 25
Owns and owesPt X
$23K
net assets · Ln 32
Cash and savingsLn 1–2$23K
Total assetsLn 16$23K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$234K
Total revenueLn 12$234K
Assets in detailPt X, end of year
CashLn 1$23K
Cash and savings togetherLn 1–2$23K
Total assetsLn 16$23K
LiabilitiesLn 26$0
Net assetsLn 32$23K
OperationsPt I, VI
EmployeesI 50
VolunteersI 630
Fiscal year endsHeaderDecember
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 FY22End FY22
Cash and savingsLn 1–2$8K$23K
Total assetsLn 16$8K$23K
LiabilitiesLn 26$0$0
Net assetsLn 32$8K$23K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$4K
Office expensesLn 13$2K
OccupancyLn 16$77K
Other expenses (24a–d)Ln 24$126K
All other expensesLn 24e$10K
Total functional expensesLn 25$219K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $256K$215K$41K$57K 990 PDF
FY2023 $225K$232K−$7K$16K 990 PDF
FY2022 Viewing $234K$219K$16K$23K 990 PDF
FY2021 $227K$222K$5K$8K 990 PDF
FY2020 $163K$2K 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 (4 parts)
Part VIII · Statement of revenue $234,332 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $234,332$234,332
VIII-12 Total revenueRelated to mission $234,332$234,332
Part IX · Statement of functional expenses $218,586 across 5 lines filed
IX-11c Accounting fees$4,403
IX-13 Office expenses$1,763
IX-16 Occupancy$76,822
IX-24 Other expenses (24a–d)$125,766
IX-24e All other expenses$9,832
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$218,586
Part X · Balance sheet $23,376 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $7,630$23,376
X-16 Total assetsStart of year $7,630$23,376
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $7,630$23,376
X-32 Total net assets or fund balancesStart of year $7,630$23,376
X-33 Total liabilities and net assetsStart of year $7,630$23,376
Part XI · Reconciliation of net assets $23,376 net assets at year end
XI-1 Total revenue$234,332
XI-2 Total expenses$218,586
XI-3 Revenue less expenses$15,746
XI-4 Net assets at start of year$7,630
XI-10 Net assets at end of year$23,376

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

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