Phi Chi Theta INC FY2024 filing

Not tax-deductible

Carrollton, TX501(c)(7)EIN 58-0638900Revenue $376K in FY2024

On file with the IRSPo Box 113394, 75011-3394 · Carrollton, TXTax-exempt since Jul 1948

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Train Leadership Skills

$88K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2024 · 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
5 of 5
filings with a surplus
Average surplus $82K a year · 24% 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
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$88K
to officers and key staff · 28% of spending
Worth a look: pay to officers and key staff is 28% of spending; over 20%.
Pt VII · Sec A
Cash reserves
35 mo
of spending, in cash
Looks good: 34.9 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$6K
0.7% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 12 voting members
Concern: none of 12 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$376K
+18% vs prior year
Spent
$317K
To programs
0%
Net assets
$921K
By yearFY2021–FY2025
Revenue
$376K
FY2024▲ +18%
Tap a bar for its year
Revenue by fiscal year
FY2021$283K
FY2022$307K
FY2023$319K
FY2024$376K
FY2025$450K
Expenses
$317K
FY2024▲ +17%
Tap a bar for its year
Expenses by fiscal year
FY2021$178K
FY2022$205K
FY2023$270K
FY2024$317K
FY2025$358K
Net assets
$921K
FY2024▲ +4%
Tap a bar for its year
Net assets by fiscal year
FY2021$730K
FY2022$821K
FY2023$884K
FY2024$921K
FY2025$1.0M

From the FY2024 Form 990 (year ending July 2024) · see the original

990 PDF Claim
You’re viewing the FY2024 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 Jul 1948.

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

Who runs it and what they're paid

12 people listed on the 990; $88K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Executive Dir.
$88,000Pt VII · Sec A
Board Member
$0Pt VII · Sec A
Board Chair
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Past President
$0Pt VII · Sec A

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021
Saundra Finley$88,000$92,000$77,000$78,000

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

Phi Chi Theta INC is a member-serving organization based in Carrollton, TX.

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Provided by the organization

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3 programs · $49K · in their own filed words · FY2023
01

Policy Board and Regional Meetings

Officers meet to review activities, assess efficiency ratings, and to assure desired direction is maintained at all events

$42Kprogram expense
02

Visitation and Expansion

Area directors visit active chapters to assist in chapter management.

$8Kprogram expense
03

Fraternity Publication

Publication sent periodically to all members

Pt IX · col B

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$376K
Ln 12
Gifts and grantsLn 1h$296K
Fees for servicesLn 2g$70K
Investment incomeLn 3$24K
Money outPt IX
$317K
Ln 25
Owns and owesPt X
$921K
net assets · Ln 32
Cash and savingsLn 1–2$920K
Total assetsLn 16$927K
LiabilitiesLn 26$6K
PeoplePt VI, VII
12
listed · VII A
PaidVII A1
Voting boardVI 1a12
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$296K
Fees for servicesLn 2g$70K
Investment incomeLn 3$24K
Gains on assetsLn 7$0
Total revenueLn 12$376K
Assets in detailPt X, end of year
CashLn 1$920K
SavingsLn 2$0
Cash and savings togetherLn 1–2$920K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$6K
Total assetsLn 16$927K
LiabilitiesLn 26$6K
Net assetsLn 32$921K
OperationsPt I, VI
EmployeesI 51
Fiscal year endsHeaderJuly
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 FY24End FY24
Cash and savingsLn 1–2$871K$920K
InvestmentsLn 11–13$0
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$889K$927K
LiabilitiesLn 26$5K$6K
Net assetsLn 32$884K$921K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$0
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$88K
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$60K
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$12K
Management feesLn 11a$500
Legal feesLn 11b$0
Accounting feesLn 11c$2K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$0
Other fees for servicesLn 11g$38K
Advertising and promotionLn 12$0
Office expensesLn 13$24K
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$9K
TravelLn 17$49K
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$0
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$32K
Other expenses (24a–d)Ln 24$2K
All other expensesLn 24e$0
Total functional expensesLn 25$317K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $450K$358K$92K$1.0M 990 PDF
FY2024 Viewing $376K$317K$59K$921K 990 PDF
FY2023 $319K$270K$49K$884K 990 PDF
FY2022 $307K$205K$102K$821K 990 PDF
FY2021 $283K$178K$105K$730K 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 FY2024 990 (6 parts)
Part I · Summary $376,252 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $243,965$295,915
I-9 Program service revenuePrior year $57,025$70,334
I-10 Investment incomePrior year $10,408$23,708
I-11 Other revenuePrior year $7,156−$13,705
I-12 Total revenuePrior year $318,554$376,252
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $99,101$159,514
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $170,617$157,305
I-18 Total expensesPrior year $269,718$316,819
I-19 Revenue less expensesPrior year $48,836$59,433
Part VI · Governance 0 of 12 board members independent, no flags
VI-1a Voting members of the governing body12
VI-1b Independent voting members0
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $376,252 across 10 lines filed
Lines not itemized here account for −$13,705 of total revenue; see the IRS return.
VIII-1b Membership dues$294,847
VIII-1f All other contributions, gifts and grants$1,068
VIII-1h Total contributions, gifts and grants$295,915
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $70,334$70,334
VIII-3 Investment incomeUnrelated business $23,708$23,708
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assets$0
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $56,629 · Unrelated business $23,708$376,252
Part IX · Statement of functional expenses $316,819 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individuals$0
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$88,000
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$60,000
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$11,514
IX-11a Management fees$500
IX-11b Legal fees$0
IX-11c Accounting fees$2,182
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management fees$0
IX-11g Other fees for services$37,534
IX-12 Advertising and promotion$0
IX-13 Office expenses$24,324
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$9,353
IX-17 Travel$49,358
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliates$0
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$32,140
IX-24 Other expenses (24a–d)$1,914
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$316,819
Part X · Balance sheet $926,688 assets, 18 lines filed
X-1 Cash, non-interest-bearingStart of year $870,897$920,418
X-2 Savings and temporary cash investments$0
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securities$0
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $18,429$6,270
X-16 Total assetsStart of year $889,326$926,688
X-17 Accounts payable and accrued expensesStart of year $4,909$6,093
X-26 Total liabilitiesStart of year $4,909$6,093
X-27 Net assets without donor restrictionsStart of year $884,417$920,595
X-32 Total net assets or fund balancesStart of year $884,417$920,595
X-33 Total liabilities and net assetsStart of year $889,326$926,688
Part XI · Reconciliation of net assets $920,595 net assets at year end
XI-1 Total revenue$376,252
XI-2 Total expenses$316,819
XI-3 Revenue less expenses$59,433
XI-4 Net assets at start of year$884,417
XI-5 Net unrealized gains (losses) on investments−$23,255
XI-10 Net assets at end of year$920,595

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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