Phi Mu Fraternity INC FY2023 filing

Not tax-deductible

Peachtree Cty, GA501(c)(7)Since 1904EIN 62-0533776Revenue $7.3M in FY2023

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.

48¢ of each $1 spent went to programs.
$379K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Programs: Part IX · Pay: Part VII

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
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
6 of 6
filings with a surplus
Average surplus $1.2M a year · 19% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
48%
of spending
Concern: 48% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$379K
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
7 mo
of spending, in cash
Looks good: 6.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$10.6M
34% of total assets
Looks good: liabilities are 34% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.3M
+40% vs prior year
Spent
$6.4M
To programs
48%
Net assets
$20.4M
By yearFY2020–FY2025
Revenue
$7.3M
FY2023▲ +40%
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
FY2025$7.0M
Expenses
$6.4M
FY2023▲ +52%
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
FY2025$6.2M
Net assets
$20.4M
FY2023▲ +8%
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
FY2025$23.7M

From the FY2023 Form 990 (year ending June 2023) · 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: FY2025. IRS ruling in Oct 1942.

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

Where the money goes

48 cents of each dollar spent went to programs.

Program services 48% · $3.1M Management & general 52% · $3.3M

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

11 people listed on the 990; $379K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
Executive Di
$183,567Pt VII · Sec A
Controller
$108,240Pt VII · Sec A
Asst. Exec.
$87,331Pt VII · Sec A
National VP
$0Pt VII · Sec A
National VP
$0Pt VII · Sec A
National VP
$0Pt VII · Sec A
National Pre
$0Pt VII · Sec A
Npc Delegate
$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.

Questions for Phi Mu Fraternity INC

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Provided by the organization

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3 programs · $3.1M · in their own filed words · FY2022
01

Conferences and Leadership

The fraternity offers a wide range of leadership, citizenship, charitable,and educational programs for its undergraduate and alumnae members via numerous workshops, lectures, and other venues.

$2.3Mprogram expense
02

Chapter Services

Represents expenses incurred to maintain and promote the fraternitys individual chapters.

$623Kprogram expense
03

Carnation Collection

Represents expenses incurred in the production, promotion, and sale of the fraternitys line of merchandise.

$199Kprogram expense

Funders

Who pays for it.

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

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$7.3M
Ln 12
Gifts and grantsLn 1h$4.6M
Fees for servicesLn 2g$1.5M
Other incomeLn 4–11$669K
Money outPt IX
$6.4M
Ln 25
Programscol B$3.1M
Managementcol C$3.3M
Owns and owesPt X
$20.4M
net assets · Ln 32
Cash and savingsLn 1–2$3.6M
Total assetsLn 16$31.0M
LiabilitiesLn 26$10.6M
PeoplePt VI, VII
11
listed · VII A
PaidVII A3
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.6M
Fees for servicesLn 2g$1.5M
Investment incomeLn 3$586K
Other incomeLn 4–11$669K
Gains on assetsLn 7$179K
Total revenueLn 12$7.3M
Assets in detailPt X, end of year
CashLn 1$3.6M
Cash and savings togetherLn 1–2$3.6M
InvestmentsLn 11–13$20.9M
Land, buildings, equipmentLn 10c$131K
Other assetsLn 15$5.1M
Total assetsLn 16$31.0M
LiabilitiesLn 26$10.6M
Net assetsLn 32$20.4M
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 FY23End FY23
Cash and savingsLn 1–2$4.4M$3.6M
InvestmentsLn 11–13$18.9M$20.9M
Land, buildings, equipmentLn 10c$72K$131K
Total assetsLn 16$29.2M$31.0M
LiabilitiesLn 26$10.3M$10.6M
Net assetsLn 32$18.9M$20.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$1.7M$220K$1.5M
Pension plan contributionsLn 8$122K$122K
Payroll taxesLn 10$129K$129K
Legal feesLn 11b$42K$42K
Accounting feesLn 11c$27K$16K$11K
Advertising and promotionLn 12$415$414$1
Office expensesLn 13$439K$202K$237K
Information technologyLn 14$122K$122K
OccupancyLn 16$363K$1K$362K
TravelLn 17$2.3M$2.2M$86K
Depreciation, depletion and amortizationLn 22$30K$30K
InsuranceLn 23$132K$132K
Other expenses (24a–d)Ln 24$882K$467K$415K
All other expensesLn 24e$159K$18K$140K
Total functional expensesLn 25$6.4M$3.1M$3.3M$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $7.0M$6.2M$814K$23.7M 990 PDF
FY2024 $6.2M$5.4M$821K$21.9M 990 PDF
FY2023 Viewing $7.3M$6.4M$875K$20.4M 990 PDF
FY2022 $5.2M$4.2M$1.0M$18.9M 990 PDF
FY2021 $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 FY2023 990 (6 parts)
Part I · Summary $7,308,750 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,097,985$4,554,641
I-9 Program service revenuePrior year $1,497,033$1,499,207
I-10 Investment incomePrior year $45,326$586,295
I-11 Other revenuePrior year $590,237$668,607
I-12 Total revenuePrior year $5,230,581$7,308,750
I-13 Grants and similar amounts paidPrior year $13,000$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $2,072,439$1,975,245
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $2,139,325$4,458,727
I-18 Total expensesPrior year $4,224,764$6,433,972
I-19 Revenue less expensesPrior year $1,005,817$874,778
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $7,308,750 across 8 lines filed
Lines not itemized here account for $334,722 of total revenue; see the IRS return.
VIII-1b Membership dues$4,415,141
VIII-1d Related organizations$139,500
VIII-1h Total contributions, gifts and grants$4,554,641
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $1,499,207$1,499,207
VIII-3 Investment incomeRelated to mission $163,872 · Unrelated business $243,229$407,101
VIII-5 RoyaltiesRelated to mission $333,885$333,885
VIII-7 Net gain or loss on sales of assetsRelated to mission $179,194$179,194
VIII-12 Total revenueRelated to mission $2,510,880 · Unrelated business $243,229$7,308,750
Part IX · Statement of functional expenses $6,433,972 across 14 lines filed
IX-7 Other salaries and wagesPrograms $219,842 · Management $1,504,611$1,724,453
IX-8 Pension plan contributionsManagement $121,844$121,844
IX-10 Payroll taxesManagement $128,948$128,948
IX-11b Legal feesManagement $42,472$42,472
IX-11c Accounting feesPrograms $15,549 · Management $11,075$26,624
IX-12 Advertising and promotionPrograms $414 · Management $1$415
IX-13 Office expensesPrograms $202,452 · Management $236,522$438,974
IX-14 Information technologyManagement $121,964$121,964
IX-16 OccupancyPrograms $1,457 · Management $361,723$363,180
IX-17 TravelPrograms $2,176,601 · Management $86,379$2,262,980
IX-22 Depreciation, depletion and amortizationManagement $29,567$29,567
IX-23 InsuranceManagement $132,262$132,262
IX-24 Other expenses (24a–d)Programs $466,975 · Management $414,612$881,587
IX-24e All other expensesPrograms $18,488 · Management $140,214$158,702
IX-25 Total functional expensesPrograms $3,101,778 · Management $3,332,194 · Fundraising $0$6,433,972
Part X · Balance sheet $31,031,034 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $4,385,924$3,593,183
X-4 Accounts receivableStart of year $416,325$1,019,736
X-8 Inventories for sale or useStart of year $115,769$117,224
X-9 Prepaid expenses and deferred chargesStart of year $861,488$232,815
X-10c Land, buildings and equipment, netStart of year $72,459$131,015
X-11 Publicly traded securitiesStart of year $17,381,823$19,176,267
X-13 Program-related investmentsStart of year $1,531,346$1,695,218
X-15 Other assetsStart of year $4,457,492$5,065,576
X-16 Total assetsStart of year $29,222,626$31,031,034
X-17 Accounts payable and accrued expensesStart of year $216,375$272,063
X-19 Deferred revenueStart of year $1,543,916$589,936
X-25 Other liabilities$257,580
X-26 Total liabilitiesStart of year $10,293,017$10,603,689
X-27 Net assets without donor restrictionsStart of year $18,929,609$20,427,345
X-32 Total net assets or fund balancesStart of year $18,929,609$20,427,345
X-33 Total liabilities and net assetsStart of year $29,222,626$31,031,034
Part XI · Reconciliation of net assets $20,427,345 net assets at year end
XI-1 Total revenue$7,308,750
XI-2 Total expenses$6,433,972
XI-3 Revenue less expenses$874,778
XI-4 Net assets at start of year$18,929,609
XI-5 Net unrealized gains (losses) on investments$622,958
XI-10 Net assets at end of year$20,427,345

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

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