Chi Phi Fraternity INC FY2022 filing

Not tax-deductible

Roswell, GA501(c)(7)Since 1824EIN 58-0191430

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To build better men through lifelong friendships, leadership opportunities, and character development.

82¢ of each $1 spent went to programs.
$133K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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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
5 of 5
filings with a surplus
Average surplus $142K a year · 9% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$133K
to officers and key staff · 10% of spending
Looks good: pay to officers and key staff is 10% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
10 mo
of spending, in cash
Looks good: 9.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $192K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$215K
12% of total assets
Looks good: liabilities are 12% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 9 voting members
Looks good: 8 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.6M
+17% vs prior year
Spent
$1.4M
To programs
82%
Net assets
$1.6M
By yearFY2020–FY2024
Revenue
$1.6M
FY2022▲ +17%
Revenue by fiscal year
FY2020$1.7M
FY2021$1.4M
FY2022$1.6M
FY2023$1.7M
FY2024$1.8M
FY2024$1.8M
Expenses
$1.4M
FY2022▲ +17%
Expenses by fiscal year
FY2020$1.7M
FY2021$1.2M
FY2022$1.4M
FY2023$1.6M
FY2024$1.7M
FY2024$1.8M
Net assets
$1.6M
FY2022▲ +10%
Net assets by fiscal year
FY2020$1.2M
FY2021$1.5M
FY2022$1.6M
FY2023$1.8M
FY2024$2.0M
FY2024$2.1M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in May 1987.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $1.1M Management & general 18% · $245K

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

15 people listed on the 990; $133K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Executive Director
$133,454Pt VII · Sec A
Heritage & Traditions Counselor
$0Pt VII · Sec A
Scholastic Counselor
$0Pt VII · Sec A
Grand Alpha
$0Pt VII · Sec A
Grand Beta
$0Pt VII · Sec A
Grand Gamma
$0Pt VII · Sec A
Grand Delta
$0Pt VII · Sec A
Alumni Development and Engagement Counselor
$0Pt VII · Sec A

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2024FY2024FY2023FY2022FY2021FY2020
Michael Joseph Azarian$159,549—————
Michael Azarian—$153,413$138,965$133,454$121,555$129,784
Barbre Berris$104,892$101,200————
Daniel Coutcher————$43,260—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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 15aYes

Programs and updates

Develops men through friendships, leadership, and character building.

Provided by the organization

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2 program services account for $1.1M of program spending, described in the organization's own filed words · FY2021.
01

Supports the operations of 48 chapters.

$1.1Mprogram expense
02

Sponsors group liability insurance program for all chapters and provides programs to educate members regarding risk management and compliance with the fraternity's risk management policy.

Pt IX · col B

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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 · FY2024
Total grants receivedfrom 1 funder$192K

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$1.6M
Ln 12
Fees for servicesLn 2g$1.2M
Gifts and grantsLn 1h$234K
Other incomeLn 4–11$107K
Money outPt IX
$1.4M
Ln 25
Programscol B$1.1M
Managementcol C$245K
Owns and owesPt X
$1.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$1.8M
LiabilitiesLn 26$215K
PeoplePt VI, VII
15
listed · VII A
PaidVII A1
Voting boardVI 1a9
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$234K
Fees for servicesLn 2g$1.2M
Investment incomeLn 3$19K
Other incomeLn 4–11$107K
Gains on assetsLn 7$6K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
CashLn 1$637K
SavingsLn 2$479K
Cash and savings togetherLn 1–2$1.1M
InvestmentsLn 11–13$431K
Land, buildings, equipmentLn 10c$4K
Other assetsLn 15$86K
Total assetsLn 16$1.8M
LiabilitiesLn 26$215K
Net assetsLn 32$1.6M
OperationsPt I, VI
EmployeesI 513
VolunteersI 620
Fiscal year endsHeaderJune
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$910K$1.1M
InvestmentsLn 11–13$499K$431K
Land, buildings, equipmentLn 10c$7K$4K
Total assetsLn 16$1.7M$1.8M
LiabilitiesLn 26$220K$215K
Net assetsLn 32$1.5M$1.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$133K$92K$42K
Other salaries and wagesLn 7$358K$246K$112K
Other employee benefitsLn 9$43K$29K$13K
Payroll taxesLn 10$40K$27K$12K
Legal feesLn 11b$6K$5K$1K
Accounting feesLn 11c$17K$17K
Investment management feesLn 11f$6K$6K
Other fees for servicesLn 11g$30K$23K$7K
Office expensesLn 13$63K$51K$11K
Information technologyLn 14$21K$15K$5K
OccupancyLn 16$19K$15K$5K
Conferences, conventions and meetingsLn 19$93K$93K
Depreciation, depletion and amortizationLn 22$4K$3K$1K
InsuranceLn 23$237K$237K
Other expenses (24a–d)Ln 24$188K$179K$9K
All other expensesLn 24e$100K$98K$2K
Total functional expensesLn 25$1.4M$1.1M$245K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.8M$1.7M$107K$2.0M 990 PDF
FY2023 $1.7M$1.6M$176K$1.8M 990 PDF
FY2022 Viewing $1.6M$1.4M$224K$1.6M 990 PDF
FY2021 $1.4M$1.2M$196K$1.5M 990 PDF
FY2020 $1.7M$1.7M$9K$1.2M 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 $1,581,919 across 9 lines filed
VIII-1d Related organizations$233,826
VIII-1f All other contributions, gifts and grants$26
VIII-1h Total contributions, gifts and grants$233,852
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,221,597$1,221,597
VIII-3 Investment incomeUnrelated business $13,094$13,094
VIII-5 RoyaltiesUnrelated business $20,616$20,616
VIII-7 Net gain or loss on sales of assetsUnrelated business $6,184$6,184
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $49,951 · Unrelated business $36,625$86,576
VIII-12 Total revenueRelated to mission $1,271,548 · Unrelated business $76,519 · Excluded from tax $0$1,581,919
Part IX · Statement of functional expenses $1,357,759 across 16 lines filed
IX-5 Pay of current officers, directors and key staffPrograms $91,576 · Management $41,878$133,454
IX-7 Other salaries and wagesPrograms $245,805 · Management $112,407$358,212
IX-9 Other employee benefitsPrograms $29,232 · Management $13,367$42,599
IX-10 Payroll taxesPrograms $27,334 · Management $12,500$39,834
IX-11b Legal feesPrograms $4,614 · Management $1,328$5,942
IX-11c Accounting feesManagement $17,100$17,100
IX-11f Investment management feesManagement $5,962$5,962
IX-11g Other fees for servicesPrograms $23,276 · Management $6,697$29,973
IX-13 Office expensesPrograms $51,435 · Management $11,214$62,649
IX-14 Information technologyPrograms $15,417 · Management $5,148$20,565
IX-16 OccupancyPrograms $14,615 · Management $4,872$19,487
IX-19 Conferences, conventions and meetingsPrograms $92,903$92,903
IX-22 Depreciation, depletion and amortizationPrograms $3,308 · Management $1,103$4,411
IX-23 InsurancePrograms $236,752$236,752
IX-24 Other expenses (24a–d)Programs $178,558 · Management $9,213$187,771
IX-24e All other expensesPrograms $98,265 · Management $1,880$100,145
IX-25 Total functional expensesPrograms $1,113,090 · Management $244,669 · Fundraising $0$1,357,759
Part X · Balance sheet $1,837,605 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $646,702$637,189
X-2 Savings and temporary cash investmentsStart of year $263,103$479,075
X-4 Accounts receivableStart of year $41,414$72,471
X-8 Inventories for sale or useStart of year $53,976$47,076
X-9 Prepaid expenses and deferred chargesStart of year $100,618$81,083
X-10c Land, buildings and equipment, netStart of year $6,520$4,482
X-11 Publicly traded securitiesStart of year $399,781$343,941
X-12 Other securitiesStart of year $99,221$86,710
X-15 Other assetsStart of year $88,765$85,578
X-16 Total assetsStart of year $1,700,100$1,837,605
X-17 Accounts payable and accrued expensesStart of year $106,628$91,890
X-19 Deferred revenueStart of year $113,674$123,421
X-26 Total liabilitiesStart of year $220,302$215,311
X-27 Net assets without donor restrictionsStart of year $1,479,798$1,622,294
X-32 Total net assets or fund balancesStart of year $1,479,798$1,622,294
X-33 Total liabilities and net assetsStart of year $1,700,100$1,837,605
Part XI · Reconciliation of net assets $1,622,294 net assets at year end
XI-1 Total revenue$1,581,919
XI-2 Total expenses$1,357,759
XI-3 Revenue less expenses$224,160
XI-4 Net assets at start of year$1,479,798
XI-5 Net unrealized gains (losses) on investments−$81,634
XI-8 Prior period adjustments−$30
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$1,622,294

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

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