Phi Kappa Tau Fraternity FY2020 filing

Not tax-deductible

Ms State, MS501(c)(7)EIN 64-0392930Revenue $330K in FY2020

On file with the IRSmsstatephitau.comPo Box 3596, 39762-3596 · Ms State, MSTax-exempt since Feb 1941

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Local chapter of a national collegiate social Fraternity.

Mission: Form 990 Part I, line 1

Before you give

FY2020 · 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
4 of 5
filings with a surplus
Average surplus $4K a year · 1% of revenue · last 5 filings
Fine: a surplus in 4 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
Cash reserves
2 mo
of spending, in cash
Fine: 1.9 months of spending in cash; 1 to 3.
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 5 voting members
Concern: none of 5 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$330K
Spent
$305K
To programs
0%
Net assets
$48K
By yearFY2020–FY2024
Revenue
$330K
FY2020
Tap a bar for its year
Revenue by fiscal year
FY2020$330K
FY2021$291K
FY2022$376K
FY2023$336K
FY2024$347K
Expenses
$305K
FY2020
Tap a bar for its year
Expenses by fiscal year
FY2020$305K
FY2021$290K
FY2022$362K
FY2023$356K
FY2024$347K
Net assets
$48K
FY2020
Tap a bar for its year
Net assets by fiscal year
FY2020$48K
FY2021$49K
FY2022$64K
FY2023$43K
FY2024$43K

From the FY2020 Form 990 (year ending June 2020) · see the original

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Is it real?

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

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

Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2019); the FY2020 filing did not itemize Part VII
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
See Phi Kappa Tau Fraternity 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

Supports college men through brotherhood, leadership, and service.

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Provided by the organization

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1 program · in their own filed words · FY2019
01

Provided meals, housing, and social programs for the local social fraternity members- total of 60 members for the year.

Pt IX · col B

By the numbers

The FY2020 990, line by line.

1The main four
Money inPt VIII
$330K
Ln 12
Fees for servicesLn 2g$330K
Money outPt IX
$305K
Ln 25
Owns and owesPt X
$48K
net assets · Ln 32
Cash and savingsLn 1–2$48K
Total assetsLn 16$48K
LiabilitiesLn 26$0
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$330K
Total revenueLn 12$330K
Assets in detailPt X, end of year
CashLn 1$48K
Cash and savings togetherLn 1–2$48K
Total assetsLn 16$48K
LiabilitiesLn 26$0
Net assetsLn 32$48K
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
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 FY20End FY20
Cash and savingsLn 1–2$23K$48K
Total assetsLn 16$23K$48K
LiabilitiesLn 26$0$0
Net assetsLn 32$23K$48K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$6K
OccupancyLn 16$148K
Other expenses (24a–d)Ln 24$147K
All other expensesLn 24e$4K
Total functional expensesLn 25$305K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $347K$347K$0$43K 990 PDF
FY2023 $336K$356K−$21K$43K 990 PDF
FY2022 $376K$362K$15K$64K 990 PDF
FY2021 $291K$290K$1K$49K 990 PDF
FY2020 Viewing $330K$305K$25K$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 FY2020 990 (6 parts)
Part I · Summary $329,648 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $368,719$329,648
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $368,719$329,648
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $374,433$304,559
I-18 Total expensesPrior year $374,433$304,559
I-19 Revenue less expensesPrior year −$5,714$25,089
Part VI · Governance 0 of 5 board members independent, 1 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members0
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $329,648 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $329,648$329,648
VIII-12 Total revenueRelated to mission $329,648$329,648
Part IX · Statement of functional expenses $304,559 across 4 lines filed
IX-11c Accounting fees$6,254
IX-16 Occupancy$147,670
IX-24 Other expenses (24a–d)$146,943
IX-24e All other expenses$3,692
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$304,559
Part X · Balance sheet $47,742 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $22,653$47,742
X-16 Total assetsStart of year $22,653$47,742
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $22,653$47,742
X-33 Total liabilities and net assetsStart of year $22,653$47,742
Part XI · Reconciliation of net assets $47,742 net assets at year end
XI-1 Total revenue$329,648
XI-2 Total expenses$304,559
XI-3 Revenue less expenses$25,089
XI-4 Net assets at start of year$22,653
XI-10 Net assets at end of year$47,742

Form 990 e-file (XML) FY2020 from the IRS · Classification, formation year and address from the IRS Business Master File

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