Chi Psi Fraternity FY2024 filing

Not tax-deductible

Chapel Hill, NC501(c)(7)EIN 56-0548040

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To foster brotherhood by bettering ourselves, our university, and our nation

Mission: Form 990 Part I, line 1

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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average deficit $807 a year · under 1% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
<1 mo
of spending, in cash
Concern: 0.1 months of spending in cash; under 2 weeks.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$740K
-1% vs prior year
Spent
$743K
Net assets
$7K
By yearFY2021–FY2025
Revenue
$740K
FY2024▼ -1%
Revenue by fiscal year
FY2021$329K
FY2022$557K
FY2023$749K
FY2024$740K
FY2025$752K
Expenses
$743K
FY2024+0.2%
Expenses by fiscal year
FY2021$343K
FY2022$571K
FY2023$742K
FY2024$743K
FY2025$730K
Net assets
$7K
FY2024▼ -37%
Net assets by fiscal year
FY2021$18K
FY2022$4K
FY2023$10K
FY2024$7K
FY2025$28K

From the FY2024 Form 990 (year ending June 2024) · see the original

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You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2014-11-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in May 1947.

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

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Co-Lodge Manager
$0Pt VII · Sec A
Treasurer (from Spring 24)
$0Pt VII · Sec A
Treasurer (thr Spring 24)
$0Pt VII · Sec A
Co-Lodge Manager
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Kitchen Manager
$0Pt VII · Sec A
See Chi 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

Builds character and community through self-improvement and service.

Provided by the organization

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3 programs · in their own filed words · FY2023
01

Participation in activities focused on community involvement and improvement. Examples include providing physical volunteers in the form of the members, but also holding philanthropic events that allow members to raise money for charities.

Pt IX · col B
02

Provision of room and board to the organization's active members. All current or "active" members of the organization are full-time students at the university of north carolina at chapel hill. Boarding is provided in order to foster community, brotherhood, and scholarship in an affordable, communal setting for the members.

Pt IX · col B
03

Provision of meals to organization members. Communal meals are provided in order to foster brotherhood and fraternity.

Pt IX · col B

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2020
Total grants receivedfrom 1 funder$6K

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$740K
Ln 12
Fees for servicesLn 2g$740K
Money outPt IX
$743K
Ln 25
Owns and owesPt X
$7K
net assets · Ln 32
Cash and savingsLn 1–2$7K
Total assetsLn 16$7K
LiabilitiesLn 26$0
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$740K
Total revenueLn 12$740K
Assets in detailPt X, end of year
CashLn 1$7K
Cash and savings togetherLn 1–2$7K
Total assetsLn 16$7K
LiabilitiesLn 26$0
Net assetsLn 32$7K
OperationsPt I, VI
EmployeesI 50
VolunteersI 66
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$10K$7K
Total assetsLn 16$10K$7K
LiabilitiesLn 26$0$0
Net assetsLn 32$10K$7K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1K
Grants to domestic individualsLn 2$22K
Accounting feesLn 11c$3K
OccupancyLn 16$253K
TravelLn 17$4K
InsuranceLn 23$25K
Other expenses (24a–d)Ln 24$435K
Total functional expensesLn 25$743K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $752K$730K$22K$28K 990 PDF
FY2024 Viewing $740K$743K−$4K$7K 990 PDF
FY2023 $749K$742K$7K$10K 990 PDF
FY2022 $557K$571K−$14K$4K 990 PDF
FY2021 $329K$343K−$14K$18K 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 $739,576 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $739,576$739,576
VIII-12 Total revenueRelated to mission $739,576 · Unrelated business $0 · Excluded from tax $0$739,576
Part IX · Statement of functional expenses $743,493 across 7 lines filed
IX-1 Grants to domestic organizations$1,230
IX-2 Grants to domestic individuals$22,049
IX-11c Accounting fees$3,150
IX-16 Occupancy$252,893
IX-17 Travel$3,522
IX-23 Insurance$25,384
IX-24 Other expenses (24a–d)$435,265
IX-25 Total functional expenses$743,493
Part X · Balance sheet $6,580 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $10,497$6,580
X-16 Total assetsStart of year $10,497$6,580
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $10,497$6,580
X-32 Total net assets or fund balancesStart of year $10,497$6,580
X-33 Total liabilities and net assetsStart of year $10,497$6,580
Part XI · Reconciliation of net assets $6,580 net assets at year end
XI-1 Total revenue$739,576
XI-2 Total expenses$743,493
XI-3 Revenue less expenses−$3,917
XI-4 Net assets at start of year$10,497
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,580

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

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