Omega Psi Phi Fraternity FY2023 filing

Not tax-deductible

Baltimore, MD501(c)(7)EIN 52-0784751Revenue $94K in FY2023

On file with the IRS2003 Presbury St, 21217-1147 · Baltimore, MDTax-exempt since Jan 1953

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To enrich the community by providing Scholarship, Mentoring and Uplift Programs

99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

FY2023 · 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 deficit $8K a year · 12% 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
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
14 mo
of spending, in cash
Looks good: 14.3 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
175
of 175 voting members
Looks good: 175 of 175 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$94K
+46% vs prior year
Spent
$74K
To programs
99%
Net assets
$88K
By yearFY2020–FY2024
Revenue
$94K
FY2023▲ +46%
Tap a bar for its year
Revenue by fiscal year
FY2020$25K
FY2021$28K
FY2022$65K
FY2023$94K
FY2024$100K
Expenses
$74K
FY2023▲ +30%
Tap a bar for its year
Expenses by fiscal year
FY2020$45K
FY2021$27K
FY2022$57K
FY2023$74K
FY2024$148K
Net assets
$88K
FY2023▲ +153%
Tap a bar for its year
Net assets by fiscal year
FY2020$21K
FY2021$19K
FY2022$35K
FY2023$88K
FY2024$55K

From the FY2023 Form 990 (year ending October 2023) · see the original

990 PDF Claim
You’re viewing the FY2023 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 Jan 1953.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $73K Management & general 1% · $908

Form 990 Part IX, line 25, columns B–D. 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 (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
Vice Basileus
$0Pt VII · Sec A
Keeper of Record and Seal
$0Pt VII · Sec A
Keeper of Finance
$0Pt VII · Sec A
See Omega Psi Phi 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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides scholarships, mentoring, and uplift programs to enrich the community.

Questions for Omega Psi Phi Fraternity

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Provided by the organization

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1 program · $73K · in their own filed words · FY2022
01

Committee Program Actions

$73Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$94K
Ln 12
Gifts and grantsLn 1h$74K
Other incomeLn 4–11$21K
Money outPt IX
$74K
Ln 25
Programscol B$73K
Managementcol C$908
Owns and owesPt X
$88K
net assets · Ln 32
Cash and savingsLn 1–2$88K
Total assetsLn 16$88K
LiabilitiesLn 26$0
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a175
IndependentVI 1b175
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$74K
Other incomeLn 4–11$21K
Total revenueLn 12$94K
Assets in detailPt X, end of year
CashLn 1$80K
SavingsLn 2$8K
Cash and savings togetherLn 1–2$88K
Total assetsLn 16$88K
LiabilitiesLn 26$0
Net assetsLn 32$88K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderOctober
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 FY23End FY23
Cash and savingsLn 1–2$35K$88K
Total assetsLn 16$35K$88K
LiabilitiesLn 26$0$0
Net assetsLn 32$35K$88K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$0
Lobbying feesLn 11d$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$2K$2K
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$60K$59K$908
All other expensesLn 24e$12K$12K
Total functional expensesLn 25$74K$73K$908

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $100K$148K−$48K$55K 990 PDF
FY2023 Viewing $94K$74K$20K$88K 990 PDF
FY2022 $65K$57K$8K$35K 990 PDF
FY2021 $28K$27K$1K$19K 990 PDF
FY2020 $25K$45K−$20K$21K 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 FY2023 990 (6 parts)
Part I · Summary $94,472 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $49,903$73,868
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $14,793$20,604
I-12 Total revenuePrior year $64,696$94,472
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $56,789$74,042
I-18 Total expensesPrior year $56,789$74,042
I-19 Revenue less expensesPrior year $7,907$20,430
Part VI · Governance 175 of 175 board members independent, 5 to look at
VI-1a Voting members of the governing body175
VI-1b Independent voting members175
VI-2 Family or business relationship among officers or directorsYes
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
Part VIII · Statement of revenue $94,472 across 5 lines filed
VIII-1b Membership dues$60,668
VIII-1f All other contributions, gifts and grants$13,200
VIII-1h Total contributions, gifts and grants$73,868
VIII-8 Net income from fundraising events$20,604
VIII-12 Total revenue$94,472
Part IX · Statement of functional expenses $74,042 across 30 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting fees$0
IX-11d Lobbying fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetingsPrograms $2,175$2,175
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Programs $58,644 · Management $908$59,552
IX-24e All other expensesPrograms $12,315$12,315
IX-25 Total functional expensesPrograms $73,134 · Management $908$74,042
Part X · Balance sheet $88,144 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $34,799$79,742
X-2 Savings and temporary cash investments$8,402
X-16 Total assetsStart of year $34,799$88,144
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $34,799$88,144
X-32 Total net assets or fund balancesStart of year $34,799$88,144
X-33 Total liabilities and net assetsStart of year $34,799$88,144
Part XI · Reconciliation of net assets $88,144 net assets at year end
XI-1 Total revenue$94,472
XI-2 Total expenses$74,042
XI-3 Revenue less expenses$20,430
XI-4 Net assets at start of year$34,799
XI-8 Prior period adjustments$27,414
XI-9 Other changes in net assets$5,501
XI-10 Net assets at end of year$88,144

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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