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Beta Iota Chapter Georgia Tech FY2023 filing

Not tax-deductible

Atlanta, GA501(c)(7)EIN 58-0592773Revenue $358K in FY2023

On file with the IRSgtato.org3071 Lenox Rd Ne Apt 5, 30324-2840 · Atlanta, GATax-exempt since Jan 1941

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All programs performed for the benefit of the fraternity and its members and guests within the meaning of code section 501 (c) 7.

100¢ 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
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
0 of 5
filings with a surplus
Average deficit $4K a year · 1% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
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
0
of 3 voting members
Concern: none of 3 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$358K
-19% vs prior year
Spent
$375K
To programs
100%
Net assets
$29K
By yearFY2020–FY2024
Revenue
$358K
FY2023▼ -19%
Tap a bar for its year
Revenue by fiscal year
FY2020$318K
FY2021$384K
FY2022$441K
FY2023$358K
FY2024$307K
Expenses
$375K
FY2023▼ -15%
Tap a bar for its year
Expenses by fiscal year
FY2020$318K
FY2021$386K
FY2022$442K
FY2023$375K
FY2024$307K
Net assets
$29K
FY2023▼ -36%
Tap a bar for its year
Net assets by fiscal year
FY2020$48K
FY2021$46K
FY2022$45K
FY2023$29K
FY2024$28K

From the FY2023 Form 990 · see the original

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

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jan 1941.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $374K Management & general 0% · $1K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
Andrew Jacon
Secretary
$0Pt VII · Sec A
See Beta Iota Chapter Georgia Tech 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

Provides programs and benefits for fraternity members and guests.

Questions for Beta Iota Chapter Georgia Tech

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Provided by the organization

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1 program · $374K · in their own filed words · FY2023
01

All programs performed for the benefit of the fraternity and its members and guests within the meaning of code section 501 (c) 7.

$374Kprogram expense

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$358K
Ln 12
Gifts and grantsLn 1h$358K
Money outPt IX
$375K
Ln 25
Programscol B$374K
Managementcol C$1K
Owns and owesPt X
$29K
net assets · Ln 32
Cash and savingsLn 1–2$29K
Total assetsLn 16$29K
LiabilitiesLn 26$0
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$358K
Total revenueLn 12$358K
Assets in detailPt X, end of year
CashLn 1$29K
Cash and savings togetherLn 1–2$29K
Total assetsLn 16$29K
LiabilitiesLn 26$0
Net assetsLn 32$29K
OperationsPt I, VI
EmployeesI 50
Fiscal year endsHeaderDecember
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$45K$29K
Total assetsLn 16$45K$29K
LiabilitiesLn 26$0$0
Net assetsLn 32$45K$29K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$202K$202K
Management feesLn 11a$1K$1K
Other fees for servicesLn 11g$145$145
Information technologyLn 14$3K$3K
OccupancyLn 16$132K$132K
TravelLn 17$37K$37K
Total functional expensesLn 25$375K$374K$1K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $307K$307K−$921$28K 990 PDF
FY2023 Viewing $358K$375K−$16K$29K 990 PDF
FY2022 $441K$442K−$1K$45K 990 PDF
FY2021 $384K$386K−$2K$46K 990 PDF
FY2020 $318K$318K−$394$48K 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 $358,497 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $440,622$358,497
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $440,622$358,497
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to membersPrior year $155,986$201,599
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $285,832$173,209
I-18 Total expensesPrior year $441,818$374,808
I-19 Revenue less expensesPrior year −$1,196−$16,311
Part VI · Governance 0 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members0
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 $358,497 across 3 lines filed
VIII-1b Membership dues$358,497
VIII-1h Total contributions, gifts and grants$358,497
VIII-12 Total revenue$358,497
Part IX · Statement of functional expenses $374,808 across 6 lines filed
IX-4 Benefits paid to or for membersPrograms $201,599$201,599
IX-11a Management feesManagement $1,110$1,110
IX-11g Other fees for servicesManagement $145$145
IX-14 Information technologyPrograms $2,969$2,969
IX-16 OccupancyPrograms $132,251$132,251
IX-17 TravelPrograms $36,734$36,734
IX-25 Total functional expensesPrograms $373,553 · Management $1,255 · Fundraising $0$374,808
Part X · Balance sheet $28,925 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $45,236$28,925
X-16 Total assetsStart of year $45,236$28,925
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $45,236$28,925
X-32 Total net assets or fund balancesStart of year $45,236$28,925
X-33 Total liabilities and net assetsStart of year $45,236$28,925
Part XI · Reconciliation of net assets $28,925 net assets at year end
XI-1 Total revenue$358,497
XI-2 Total expenses$374,808
XI-3 Revenue less expenses−$16,311
XI-4 Net assets at start of year$45,236
XI-10 Net assets at end of year$28,925

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

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