Phi Mu Fraternity INC FY2021 filing

Not tax-deductible

Peachtree Cty, GA501(c)(7)Since 1904EIN 62-0533776Revenue $6.2M in FY2021

On file with the IRSphimu.org400 Westpark Dr, 30269-1482 · Peachtree Cty, GATax-exempt since Oct 1942

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Founded in 1852, Phi Mu is a women's organization which provides personal and academic development, service to others, commitment to excellence, and lifelong friendship through a shared tradition.

$183K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

Before you give

FY2021 · 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 $1.3M a year · 21% 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
$183K
to officers and key staff · 6% of spending
Looks good: pay to officers and key staff is 6% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
16 mo
of spending, in cash
Looks good: 16.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10.5M
35% of total assets
Looks good: liabilities are 35% of assets; 50% or less.
Pt X · Ln 26
Independent board members
8
of 8 voting members
Looks good: 8 of 8 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.2M
+5% vs prior year
Spent
$3.1M
To programs
0%
Net assets
$19.3M
By yearFY2020–FY2024
Revenue
$6.2M
FY2021▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$5.9M
FY2021$6.2M
FY2022$5.2M
FY2023$7.3M
FY2024$6.2M
FY2024$7.0M
Expenses
$3.1M
FY2021▼ -42%
Tap a bar for its year
Expenses by fiscal year
FY2020$5.3M
FY2021$3.1M
FY2022$4.2M
FY2023$6.4M
FY2024$5.4M
FY2024$6.2M
Net assets
$19.3M
FY2021▲ +32%
Tap a bar for its year
Net assets by fiscal year
FY2020$14.6M
FY2021$19.3M
FY2022$18.9M
FY2023$20.4M
FY2024$21.9M
FY2024$23.7M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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You’re viewing the FY2021 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 Oct 1942.

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

Who runs it and what they're paid

10 people listed on the 990; $183K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Executive Di
$183,060Pt VII · Sec A
National VP
$0Pt VII · Sec A
National Pre
$0Pt VII · Sec A
National VP
$0Pt VII · Sec A
National VP
$0Pt VII · Sec A
Npc Delegate
$0Pt VII · Sec A
National VP
$0Pt VII · Sec A
National VP
$0Pt VII · Sec A

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

NameFY2023FY2022FY2021FY2020
Darelene Reyes$183,567———
Darlene Reyes—$173,492$183,060$164,680
Nancy Hamill$108,240$108,995——
Harah Henshell$87,331———

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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Promotes personal growth, academic success, service, and lifelong friendships for women.

Provided by the organization

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3 programs · in their own filed words · FY2020
01

Chapter Services

Expenses incurred to maintain and promote the fraternity's individual chapters. Services include, but are not limited to, accounting system, billing system, manuals, membership certificates, and chapter supplies.

Pt IX · col B
02

Leadership Conference

Held annually, this event offers a concentrated opportunity for teaching, training, exchanging of ideas, and discussion of numerous topics for undergraduate and alumnae members.

Pt IX · col B
03

Aglaia Magazine

Publication and distribution of quarterly magazine. Approximately 154,000 copies are published and distributed per year.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$6.2M
Ln 12
Gifts and grantsLn 1h$3.1M
Fees for servicesLn 2g$2.1M
Other incomeLn 4–11$702K
Money outPt IX
$3.1M
Ln 25
Owns and owesPt X
$19.3M
net assets · Ln 32
Cash and savingsLn 1–2$4.1M
Total assetsLn 16$29.8M
LiabilitiesLn 26$10.5M
PeoplePt VI, VII
10
listed · VII A
PaidVII A1
Voting boardVI 1a8
IndependentVI 1b8
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.1M
Fees for servicesLn 2g$2.1M
Investment incomeLn 3$382K
Other incomeLn 4–11$702K
Gains on assetsLn 7$334K
Total revenueLn 12$6.2M
Assets in detailPt X, end of year
CashLn 1$3.5M
SavingsLn 2$538K
Cash and savings togetherLn 1–2$4.1M
InvestmentsLn 11–13$21.0M
Land, buildings, equipmentLn 10c$45K
Other assetsLn 15$4.4M
Total assetsLn 16$29.8M
LiabilitiesLn 26$10.5M
Net assetsLn 32$19.3M
OperationsPt I, VI
EmployeesI 553
VolunteersI 6150
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 FY21End FY21
Cash and savingsLn 1–2$2.0M$4.1M
InvestmentsLn 11–13$16.7M$21.0M
Land, buildings, equipmentLn 10c$40K$45K
Total assetsLn 16$23.0M$29.8M
LiabilitiesLn 26$8.4M$10.5M
Net assetsLn 32$14.6M$19.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Pay of current officers, directors and key staffLn 5$183K
Other salaries and wagesLn 7$1.4M
Payroll taxesLn 10$120K
Advertising and promotionLn 12$5K
Office expensesLn 13$208K
Information technologyLn 14$49K
TravelLn 17$42K
Depreciation, depletion and amortizationLn 22$22K
InsuranceLn 23$140K
Other expenses (24a–d)Ln 24$577K
All other expensesLn 24e$283K
Total functional expensesLn 25$3.1M$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $6.2M$5.4M$821K$21.9M 990 PDF
FY2023 $7.3M$6.4M$875K$20.4M 990 PDF
FY2022 $5.2M$4.2M$1.0M$18.9M 990 PDF
FY2021 Viewing $6.2M$3.1M$3.2M$19.3M 990 PDF
FY2020 $5.9M$5.3M$616K$14.6M 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 FY2021 990 (6 parts)
Part I · Summary $6,223,059 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,017,209$3,056,041
I-9 Program service revenuePrior year $1,610,418$2,082,734
I-10 Investment incomePrior year $367,856$382,165
I-11 Other revenuePrior year $913,378$702,119
I-12 Total revenuePrior year $5,908,861$6,223,059
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,177,606$1,724,379
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $3,115,614$1,325,951
I-18 Total expensesPrior year $5,293,220$3,050,330
I-19 Revenue less expensesPrior year $615,641$3,172,729
Part VI · Governance 8 of 8 board members independent, 1 to look at
VI-1a Voting members of the governing body8
VI-1b Independent voting members8
VI-2 Family or business relationship among officers or directorsYes
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 $6,223,059 across 9 lines filed
Lines not itemized here account for $365,283 of total revenue; see the IRS return.
VIII-1b Membership dues$2,868,029
VIII-1d Related organizations$188,000
VIII-1f All other contributions, gifts and grants$12
VIII-1h Total contributions, gifts and grants$3,056,041
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $2,082,734$2,082,734
VIII-3 Investment incomeRelated to mission −$72,354 · Unrelated business $120,431$48,077
VIII-5 RoyaltiesRelated to mission $336,836$336,836
VIII-7 Net gain or loss on sales of assetsRelated to mission $334,088$334,088
VIII-12 Total revenueRelated to mission $3,046,587 · Unrelated business $120,431$6,223,059
Part IX · Statement of functional expenses $3,050,330 across 11 lines filed
IX-5 Pay of current officers, directors and key staff$183,060
IX-7 Other salaries and wages$1,420,879
IX-10 Payroll taxes$120,440
IX-12 Advertising and promotion$5,413
IX-13 Office expenses$207,814
IX-14 Information technology$49,011
IX-17 Travel$41,580
IX-22 Depreciation, depletion and amortization$22,288
IX-23 Insurance$139,764
IX-24 Other expenses (24a–d)$577,482
IX-24e All other expenses$282,599
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$3,050,330
Part X · Balance sheet $29,811,184 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $1,722,640$3,525,276
X-2 Savings and temporary cash investmentsStart of year $229,606$537,581
X-8 Inventories for sale or useStart of year $101,795$109,617
X-9 Prepaid expenses and deferred chargesStart of year $268,284$200,495
X-10c Land, buildings and equipment, netStart of year $39,588$44,979
X-11 Publicly traded securitiesStart of year $15,036,407$19,374,228
X-13 Program-related investmentsStart of year $1,674,047$1,601,693
X-15 Other assetsStart of year $3,967,914$4,417,315
X-16 Total assetsStart of year $23,040,281$29,811,184
X-17 Accounts payable and accrued expensesStart of year $61,810$183,176
X-19 Deferred revenueStart of year $1,020,696$863,113
X-26 Total liabilitiesStart of year $8,440,189$10,516,321
X-27 Net assets without donor restrictionsStart of year $14,600,092$19,294,863
X-32 Total net assets or fund balancesStart of year $14,600,092$19,294,863
X-33 Total liabilities and net assetsStart of year $23,040,281$29,811,184
Part XI · Reconciliation of net assets $19,294,863 net assets at year end
XI-1 Total revenue$6,223,059
XI-2 Total expenses$3,050,330
XI-3 Revenue less expenses$3,172,729
XI-4 Net assets at start of year$14,600,092
XI-5 Net unrealized gains (losses) on investments$1,522,042
XI-10 Net assets at end of year$19,294,863

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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