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Beta Theta Pi Fraternity FY2023 filing

Not tax-deductible

Chapel Hill, NC501(c)(7)EIN 56-0548073Revenue $779K in FY2023

On file with the IRS209 S Rd Fpg Student Un, 27514-0000 · Chapel Hill, NCTax-exempt since Apr 1954

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The mission of the organization is to encourage and support members in order that they build lasting bonds of friendship and brotherhood through mutual assistance, intellectual growth, trust, responsible conduct and integrity. The goal is that the association with Beta Theta Pi will build " men of principle" guided by the visions outlined in the mission.

92¢ 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
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 $31K a year · 4% of revenue · last 5 filings
Concern: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
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
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$779K
+11% vs prior year
Spent
$741K
To programs
92%
Net assets
$159K
By yearFY2021–FY2025
Revenue
$779K
FY2023▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2021$365K
FY2022$705K
FY2023$779K
FY2024$792K
FY2025$843K
Expenses
$741K
FY2023▲ +6%
Tap a bar for its year
Expenses by fiscal year
FY2021$509K
FY2022$701K
FY2023$741K
FY2024$807K
FY2025$882K
Net assets
$159K
FY2023▼ -87%
Tap a bar for its year
Net assets by fiscal year
FY2021$1.3M
FY2022$1.3M
FY2023$159K
FY2024$144K
FY2025$105K

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

Form 990 (PDF) Claim
You’re viewing the FY2023 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 Apr 1954.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $681K Management & general 8% · $60K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Chester Brown
Board President
$0Pt VII · Sec A
Glenn Young
Board Vice President
$0Pt VII · Sec A
Todd Blair
Board Member
$0Pt VII · Sec A
Chris Sneeden
Board Member
$0Pt VII · Sec A
Paul Warren
Board Member
$0Pt VII · Sec A
Kaelan Amin
Chapter President
$0Pt VII · Sec A
John Michael Curtis
Chapter Treasurer
$0Pt VII · Sec A
Mercer Stanfield
Chapter Vice-President
$0Pt VII · Sec A
See Beta Theta Pi 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 men of principle through friendship, mutual assistance, and integrity.

Questions for Beta Theta Pi Fraternity

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Provided by the organization

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3 programs · $681K · in their own filed words · FY2022
01

Providing members with housing and facilities

$355Kprogram expense
02

Providing members with social interaction and entertainment

$205Kprogram expense
03

Providing members with on-site meals

$121Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$779K
Ln 12
Gifts and grantsLn 1h$543K
Fees for servicesLn 2g$236K
Money outPt IX
$741K
Ln 25
Programscol B$681K
Managementcol C$60K
Owns and owesPt X
$159K
net assets · Ln 32
Cash and savingsLn 1–2$82K
Total assetsLn 16$159K
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$543K
Fees for servicesLn 2g$236K
Total revenueLn 12$779K
Assets in detailPt X, end of year
CashLn 1$82K
Cash and savings togetherLn 1–2$82K
Land, buildings, equipmentLn 10c$54K
Other assetsLn 15$23K
Total assetsLn 16$159K
LiabilitiesLn 26$0
Net assetsLn 32$159K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderMay
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$85K$82K
Land, buildings, equipmentLn 10c$1.2M$54K
Total assetsLn 16$1.3M$159K
LiabilitiesLn 26$14K$0
Net assetsLn 32$1.3M$159K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$506K$506K
Other salaries and wagesLn 7$86K$69K$17K
Other employee benefitsLn 9$904$723$181
Payroll taxesLn 10$8K$6K$2K
Management feesLn 11a$12K$10K$2K
Legal feesLn 11b$5K$5K
Accounting feesLn 11c$32K$8K$24K
Other fees for servicesLn 11g$1K$1K$276
Office expensesLn 13$4K$4K
TravelLn 17$870$870
Conferences, conventions and meetingsLn 19$2K$2K
Depreciation, depletion and amortizationLn 22$10K$8K$2K
InsuranceLn 23$35K$31K$3K
Other expenses (24a–d)Ln 24$37K$37K
Total functional expensesLn 25$741K$681K$60K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $843K$882K−$38K$105K 990 PDF
FY2024 $792K$807K−$15K$144K 990 PDF
FY2023 Viewing $779K$741K$39K$159K 990 PDF
FY2022 $705K$701K$4K$1.3M 990 PDF
FY2021 $365K$509K−$145K$1.3M 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 $779,430 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $509,221$543,023
I-9 Program service revenuePrior year $194,159$236,407
I-10 Investment incomePrior year $3$0
I-11 Other revenuePrior year $1,382$0
I-12 Total revenuePrior year $704,765$779,430
I-13 Grants and similar amounts paidPrior year $3,130$0
I-14 Benefits paid to membersPrior year $437,283$505,772
I-15 Salaries and benefitsPrior year $80,478$95,153
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $180,179$139,649
I-18 Total expensesPrior year $701,070$740,574
I-19 Revenue less expensesPrior year $3,695$38,856
Part VI · Governance 8 of 8 board members independent, 4 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
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 $779,430 across 5 lines filed
VIII-1b Membership dues$529,523
VIII-1f All other contributions, gifts and grants$13,500
VIII-1h Total contributions, gifts and grants$543,023
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $236,407$236,407
VIII-12 Total revenueRelated to mission $236,407 · Unrelated business $0 · Excluded from tax $0$779,430
Part IX · Statement of functional expenses $740,574 across 14 lines filed
IX-4 Benefits paid to or for membersPrograms $505,772$505,772
IX-7 Other salaries and wagesPrograms $69,062 · Management $17,265$86,327
IX-9 Other employee benefitsPrograms $723 · Management $181$904
IX-10 Payroll taxesPrograms $6,338 · Management $1,584$7,922
IX-11a Management feesPrograms $9,960 · Management $2,490$12,450
IX-11b Legal feesManagement $4,768$4,768
IX-11c Accounting feesPrograms $8,084 · Management $24,253$32,337
IX-11g Other fees for servicesPrograms $1,105 · Management $276$1,381
IX-13 Office expensesManagement $3,992$3,992
IX-17 TravelPrograms $870$870
IX-19 Conferences, conventions and meetingsPrograms $1,609$1,609
IX-22 Depreciation, depletion and amortizationPrograms $8,368 · Management $2,092$10,460
IX-23 InsurancePrograms $31,477 · Management $3,084$34,561
IX-24 Other expenses (24a–d)Programs $37,221$37,221
IX-25 Total functional expensesPrograms $680,589 · Management $59,985 · Fundraising $0$740,574
Part X · Balance sheet $158,720 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $85,009$81,959
X-10c Land, buildings and equipment, netStart of year $1,161,808$53,901
X-15 Other assetsStart of year $35,259$22,860
X-16 Total assetsStart of year $1,282,076$158,720
X-25 Other liabilitiesStart of year $13,500$0
X-26 Total liabilitiesStart of year $13,500$0
X-32 Total net assets or fund balancesStart of year $1,268,576$158,720
X-33 Total liabilities and net assetsStart of year $1,282,076$158,720
Part XI · Reconciliation of net assets $158,720 net assets at year end
XI-1 Total revenue$779,430
XI-2 Total expenses$740,574
XI-3 Revenue less expenses$38,856
XI-4 Net assets at start of year$1,268,576
XI-9 Other changes in net assets−$1,148,712
XI-10 Net assets at end of year$158,720

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

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