Chi Phi Fraternity INC FY2023 filing

Roswell, GA · Mutual-benefit / member-serving · Since 1824

! Not tax-deductible
Revenue
$1.7M
+9% vs prior year
Spent
$1.6M
To programs
79%
Net assets
$1.8M
By yearFY2020–FY2024
Revenue
$1.7M
FY2023▲ +9%
Revenue by fiscal year
FY2020$1.7M
FY2021$1.4M
FY2022$1.6M
FY2023$1.7M
FY2024$1.8M
FY2024$1.8M
Expenses
$1.6M
FY2023▲ +14%
Expenses by fiscal year
FY2020$1.7M
FY2021$1.2M
FY2022$1.4M
FY2023$1.6M
FY2024$1.7M
FY2024$1.8M
Net assets
$1.8M
FY2023▲ +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 FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Status and standing

Is it real, and can you give to it?

Tax-deductible?
No
Per the IRS master file.
Can I give now?
No revocation on IRS record
Not on the IRS revocation list.
Filing up to date?
Filed FY2024 (typical filing lag)
Legal name (IRS)Hdr · item CChi Phi Fraternity INC
EINHdr · item D58-0191430
Exempt statusHdr · item I501(c)(7) · active
Ruling yearIRS BMFMay 1987
Year of formationHdr · item L1824
Latest filingForm 990FY2024 · Form 990
Principal addressHdr · item CRoswell, GA
NTEE classificationIRS BMFNonprofit
WebsiteHdr · item Jwww.chiphi.org

Where the money goes

What each dollar paid for.

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.79 Management & general $0.21
Program services79%$1.2M
Management & general21%$326K
Total functional expensesLn 25$1.6M

Financial health

Is it on solid ground?

Surplus margin
+10%
revenue over expenses, this year
Program spending
79%
of expenses reach programs

Summary of the Filing

Part I · fiscal year 2023 · Form 990
Total assets
$2.0M
FY2023▲ +10%
Total assets by fiscal year
FY2020$1.3M
FY2021$1.7M
FY2022$1.8M
FY2023$2.0M
FY2024$2.2M
FY2024$2.3M
Total liabilities
$226K
FY2023▲ +5%
Total liabilities by fiscal year
FY2020$100K
FY2021$220K
FY2022$215K
FY2023$226K
FY2024$188K
FY2024$200K
Revenue less expensesPt I · Ln 19$176K
Total assetsPt X · Ln 16$2.0M
Program-expense ratioPt IX · col B79%
Voting members of governing bodyPt I · Ln 39
Independent voting membersPt I · Ln 48

Balance Sheet

Part X · end of year
CashLn 1$895K
Total assetsLn 16$2.0M
Total liabilitiesLn 26$226K
Total net assetsLn 32$1.8M
Months of cash on handcomputed6.9

Statement of Revenue

Part VIII
Program service revenue$1.3M · 77%
Contributions & grants$190K · 11%
Other revenue$172K · 10%
Investment income$30K · 2%
Program service revenue77%$1.3M
Contributions & grants11%$190K
Other revenue10%$172K
Investment income2%$30K
Total revenueLn 12$1.7M

Financial Metrics

Form 990 · FY2023 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $1.6M · Operating expenses/yr $1.6M
12.3 months
Where the money goes
Program services
Program services $1.2M · Total expenses $1.6M
79%
Management & General
Management & general $326K · Total expenses $1.6M
21%
Fundraising
Fundraising $0 · Total expenses $1.6M
0%
Cost to raise $1
Fundraising expense (2-yr avg) $0 · Solicited contributions (2-yr avg) $212K
Solicited contributions below reporting floor
Where the money comes from
Contribution dependence
Contributions & grants $190K · Total revenue $1.7M
11%
Government reliance
Government grants — · Total revenue $1.7M
—
Earned-income share
Program service revenue $1.3M · Total revenue $1.7M
77%
Investment reliance
Investment income $30K · Total revenue $1.7M
+2%
Program self-sufficiency
Program service revenue $1.3M · Total expenses $1.6M
86%
Growth & trend
Revenue growth (YoY)
This year $1.7M · Prior year $1.6M
+9%
Net-asset trend (YoY)
End of year $1.8M · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $1.7M · Expenses $1.6M
+10%
Liabilities-to-Assets
Total liabilities — · Total assets $2.0M
—
Net-asset ratio
Net assets $1.8M · Total assets $2.0M
89%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $608K · Other securities (Pt X, ln 12) $88K · Total assets (Pt X, ln 16) $2.0M
34%
People & payroll
Highest Reported Total Compensation
Individual Michael Azarian · Reported title EXECUTIVE DIRECTOR · Highest reported compensation $139K · Total expenses $1.6M
9%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) $711K · Total expenses $1.6M
46%
Peer comparison

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

MetricThis orgPeer medianPercentile
Program ratio 79%——
Overhead ratio 21%——
Fundraising cost ratio 0%——
Revenue growth 9%——
Investment management fee ratio 0.2%——
Legal fee ratio 2%——
Accounting fee ratio 0.4%——

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.

Leadership and pay

Who runs it, and what are they paid?

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Director
$138,965Pt VII · Sec A
Heritage & Traditions Coun
$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 Eng
$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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Governance & Policies

Part VI
  • 9Voting board membersPt VI · Ln 1a
  • 8Independent board membersPt VI · Ln 1b
  • Conflict-of-interest policyPt VI · Ln 12aYes
  • Whistleblower policyPt VI · Ln 13Yes
  • Document retention policyPt VI · Ln 14Yes
  • Top official’s pay independently reviewedPt VI · Ln 15aYes
  • Family or business ties among leadersPt VI · Ln 2No

Mission and programs

What it does.

Develops men through friendships, leadership, and character building.

Provided by the organization

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Mission & Programs · Part III

Where the work happens

2 program services account for $1.2M of program spending, described in the organization's own filed words · FY2022.
01

Supports the operations of 48 chapters.

$1.2Mprogram 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

Filing history

Every return on file.

YearRevenueExpensesChangeFiling
FY2024 $1.8M$1.7M+3% 990 PDF
FY2023 Viewing $1.7M$1.6M+9% 990 PDF
FY2022 $1.6M$1.4M+17% 990 PDF
FY2021 $1.4M$1.2M-21% 990 PDF
FY2020 $1.7M$1.7M 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

Not shown yet: ratings, outcomes, and peer benchmarks. A Form 990 doesn’t report them.

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2023IRS
Classification, formation year, addressIRS Business Master File
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