Phi Lambda Educational and Community Foundation INC EIN 56-2002722

Phi Lambda Educational and Community Foundation INC

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Phi Lambda Educational and Community Foundation INC is a housing nonprofit based in Raleigh, NC. For fiscal year 2022 it reported $78K in revenue, $54K in expenses, and $312K in net assets.Pt I

Type
Public charity (501(c)(3)) · Housing
Location
Raleigh, NC
Filings
3 on file (2020–2022)
Revenue
$78KFY2022
Expenses
$54K
Net assets
$312K
People
10
Filings
3
Updates
0
More identity details & actions ⌄
EIN  56-2002722 Public charity (501(c)(3)) Raleigh, NC
Form 990 (PDF)
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Size
<$100K
What they do
a housing nonprofit
Leadership
Orrin Haywood · President
Money in and out
$78K revenue, $54K expenses
Bottom line
13% program efficiency
Where the money goes · FY2022
Total revenue
$78K
Pt VIII · Ln 12
Total expenses
$54K
Pt IX · Ln 25
Net assets
$312K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): $24K
Where spending went · Part IX cols B–D
Program services $0.13 Management & general $0.87
Program efficiency
13%
of spending reaches programs▼ -66% vs prior filing year
Operating runway
30.5mo
months of highly liquid reserves at operating expense rate▼ -46% vs prior filing year
Surplus margin
+30%
revenue over expenses, this year▲ +415% vs prior filing year

Summary of the Filing

Part I · fiscal year 2022 · Form 990
Revenue
$78K
FY2022▲ +254%
Expenses
$54K
FY2022▲ +125%
Total assets
$312K
FY2022▲ +8%
Total liabilities
$0
FY2022
Total revenue
$78K
Pt VIII · Ln 12
Total expenses
$54K
Pt IX · Ln 25
Net assets
$312K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19$24K
Total assetsPt X · Ln 16$312K
Program-expense ratioPt IX · col B13%
Voting members of governing bodyPt I · Ln 310
Independent voting membersPt I · Ln 410
Mission & Programs · Part III

Where the work happens

1 program service account for $6K of program spending, described in the organization's own filed words · FY2022.
01

Awarded six 6 $ 1000.00 scholar ships too students graduating from wake and johnston high schools

$6Kprogram expense

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CPhi Lambda Educational and Community Foundation INC
EINHdr · item D56-2002722
Principal addressHdr · item CRaleigh, NC
WebsiteHdr · item Jnone reported
Year of formationHdr · item Lpending
State of legal domicileHdr · item MNC
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFHousing (L20Z)
Ruling yearIRS BMFJun 1998

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a10
Independent voting membersPt VI · Ln 1b10
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14No
CEO/top-official compensation independently reviewedPt VI · Ln 15aNo
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
President
$0Pt VII · Sec A
Vpresident
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Financial Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
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Statement of Revenue

Part VIII
Contributions & grants$61K · 79%
Other revenue$16K · 21%
Contributions & grants79%$61K
Other revenue21%$16K
Total revenueLn 12$78K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.13 Management & general $0.87
Program services13%$7K
Management & general87%$47K
Total functional expensesLn 25$54K

Balance Sheet

Part X · end of year
CashLn 1$138K
Total assetsLn 16$312K
Total liabilitiesLn 26$0
Total net assetsLn 32$312K
Months of cash on handcomputed30.5

Financial Metrics

Form 990 · FY2022 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $138K · Operating expenses/yr $54K
30.5 months
Where the money goes
Program services
Program services $7K · Total expenses $54K
13%
Management & General
Management & general $47K · Total expenses $54K
87%
Fundraising
Fundraising $0 · Total expenses $54K
0%
Cost to raise $1
Fundraising expense (3-yr avg) $0 · Solicited contributions (3-yr avg) $35K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $61K · Total revenue $78K
79%
Government reliance
Government grants $0 · Total revenue $78K
0%
Earned-income share
Program service revenue $0 · Total revenue $78K
0%
Investment reliance
Investment income $0 · Total revenue $78K
0%
Program self-sufficiency
Program service revenue $0 · Total expenses $54K
0%
Growth & trend
Revenue growth (YoY)
This year $78K · Prior year $22K
Prior-year revenue below floor — showing dollar change
Net-asset trend (YoY)
End of year $312K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $78K · Expenses $54K
+30%
Liabilities-to-Assets
Total liabilities — · Total assets $312K
Net-asset ratio
Net assets $312K · Total assets $312K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $0 · Other securities (Pt X, ln 12) $0 · Total assets (Pt X, ln 16) $312K
0%
People & payroll
Highest Reported Total Compensation
Individual Orrin Haywood · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $54K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $0 · Total expenses $54K
0%
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 13%
Overhead ratio 87%
Fundraising cost ratio 0%
Revenue growth 254%
Investment management fee ratio 0%
Legal fee ratio 0%
Accounting fee ratio 1%
Fundraising fee ratio 0%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2022 (Latest)$78K revenue · viewing · ⤓ 990 PDF
FY2021$22K revenue · ⤓ 990 PDF
FY2020$21K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2022IRS
Classification, formation year, addressIRS Business Master File
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