Technology Colony Theta Tau

Boston, MAUnknown exempt organizationEIN 81-3723709Revenue $353K in FY2023

On file with the IRSthetatau.mit.edu526 Beacon Street · Boston, MA

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To provide a positive environment for the brothers of the Technology Colony of Theta Tau fraternity to succeed both personally and academically at the Massachusetts Institute of Technology.

100¢ of each $1 spent went to programs.
Run by 5 volunteers.
Mission: Form 990 Part I, line 1 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Latest return
FY2023
latest Form 990
Fine: the latest return is for FY2023, 3 tax years back; within 3 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 3
filings with a surplus
Average deficit $10K a year · 4% of revenue · last 3 filings
Concern: a surplus in 1 of the last 3 filings.
Pt I · Ln 19 · 3 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
Fine: 1.1 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 54 voting members
Concern: none of 54 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$353K
+25% vs prior year
Spent
$330K
To programs
100%
Net assets
$29K
By yearFY2020–FY2023
Revenue
$353K
FY2023▲ +25%
Tap a bar for its year
Revenue by fiscal year
FY2020$126K
FY2021$135K
FY2022$283K
FY2023$353K
Expenses
$330K
FY2023▼ -0.9%
Tap a bar for its year
Expenses by fiscal year
FY2020Not on file
FY2021$138K
FY2022$333K
FY2023$330K
Net assets
$29K
FY2023▲ +401%
Tap a bar for its year
Net assets by fiscal year
FY2020$59K
FY2021$56K
FY2022$6K
FY2023$29K

From the FY2023 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023.

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% · $330K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

1 person listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
See Technology Colony Theta Tau 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 fraternity brothers at MIT in personal and academic success.

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Provided by the organization

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1 program · in their own filed words · FY2023
01

Brothers were housed, social and brotherhood events were conducted

Pt IX · col B

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$353K
Ln 12
Gifts and grantsLn 1h$342K
Other incomeLn 4–11$10K
Money outPt IX
$330K
Ln 25
Programscol B$330K
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
1
listed · VII A
PaidVII A0
Voting boardVI 1a54
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$342K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Other incomeLn 4–11$10K
Total revenueLn 12$353K
Assets in detailPt X, end of year
CashLn 1$29K
SavingsLn 2$0
Cash and savings togetherLn 1–2$29K
InvestmentsLn 11–13$0
Other assetsLn 15$0
Total assetsLn 16$29K
LiabilitiesLn 26$0
Net assetsLn 32$29K
OperationsPt I, VI
EmployeesI 50
VolunteersI 65
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
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$6K$29K
InvestmentsLn 11–13$0$0
Total assetsLn 16$6K$29K
LiabilitiesLn 26$0$0
Net assetsLn 32$6K$29K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0$0
Grants to domestic individualsLn 2$0$0
Grants and assistance to foreign recipientsLn 3$0$0
Benefits paid to or for membersLn 4$0$0
Pay of current officers, directors and key staffLn 5$0$0$0
Pay of disqualified personsLn 6$0$0
Other salaries and wagesLn 7$0$0
Pension plan contributionsLn 8$0$0
Other employee benefitsLn 9$0$0
Payroll taxesLn 10$0$0
Management feesLn 11a$0$0
Legal feesLn 11b$0$0
Accounting feesLn 11c$0$0
Lobbying feesLn 11d$0$0
Professional fundraising feesLn 11e$0$0
Investment management feesLn 11f$0$0
Other fees for servicesLn 11g$0$0
Advertising and promotionLn 12$0$0
Office expensesLn 13$0$0
Information technologyLn 14$1K$1K
RoyaltiesLn 15$0$0
OccupancyLn 16$150K$150K
TravelLn 17$0$0
Travel and entertainment for public officialsLn 18$0$0
Conferences, conventions and meetingsLn 19$0$0
InterestLn 20$0$0
Payments to affiliatesLn 21$0$0
Depreciation, depletion and amortizationLn 22$0$0
InsuranceLn 23$0$0
Other expenses (24a–d)Ln 24$138K$138K
All other expensesLn 24e$40K$40K
Total functional expensesLn 25$330K$330K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $353K$330K$23K$29K 990 PDF
FY2022 $283K$333K−$50K$6K 990 PDF
FY2021 $135K$138K−$3K$56K 990 PDF
FY2020 $126K$59K 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 $352,904 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $266,350$342,464
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $16,448$10,440
I-12 Total revenuePrior year $282,798$352,904
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $332,649$329,626
I-18 Total expensesPrior year $332,649$329,626
I-19 Revenue less expensesPrior year −$49,851$23,278
Part VI · Governance 0 of 54 board members independent, 3 to look at
VI-1a Voting members of the governing body54
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $352,904 across 9 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$342,464
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$0
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$342,464
VIII-6 Net rental income or loss$10,440
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$352,904
Part IX · Statement of functional expenses $329,626 across 31 lines filed
IX-1 Grants to domestic organizationsPrograms $0$0
IX-2 Grants to domestic individualsPrograms $0$0
IX-3 Grants and assistance to foreign recipientsPrograms $0$0
IX-4 Benefits paid to or for membersPrograms $0$0
IX-5 Pay of current officers, directors and key staffPrograms $0 · Fundraising $0$0
IX-6 Pay of disqualified personsPrograms $0$0
IX-7 Other salaries and wagesPrograms $0$0
IX-8 Pension plan contributionsPrograms $0$0
IX-9 Other employee benefitsPrograms $0$0
IX-10 Payroll taxesPrograms $0$0
IX-11a Management feesPrograms $0$0
IX-11b Legal feesPrograms $0$0
IX-11c Accounting feesPrograms $0$0
IX-11d Lobbying feesPrograms $0$0
IX-11e Professional fundraising feesFundraising $0$0
IX-11f Investment management feesPrograms $0$0
IX-11g Other fees for servicesPrograms $0$0
IX-12 Advertising and promotionPrograms $0$0
IX-13 Office expensesPrograms $0$0
IX-14 Information technologyPrograms $1,339$1,339
IX-15 RoyaltiesPrograms $0$0
IX-16 OccupancyPrograms $149,879$149,879
IX-17 TravelPrograms $0$0
IX-18 Travel and entertainment for public officialsPrograms $0$0
IX-19 Conferences, conventions and meetingsPrograms $0$0
IX-20 InterestPrograms $0$0
IX-21 Payments to affiliatesPrograms $0$0
IX-22 Depreciation, depletion and amortizationPrograms $0$0
IX-23 InsurancePrograms $0$0
IX-24 Other expenses (24a–d)Programs $138,459$138,459
IX-24e All other expensesPrograms $39,949$39,949
IX-25 Total functional expensesPrograms $329,626 · Management $0 · Fundraising $0$329,626
Part X · Balance sheet $29,087 assets, 22 lines filed
X-1 Cash, non-interest-bearingStart of year $5,809$29,087
X-2 Savings and temporary cash investmentsStart of year $0$0
X-3 Pledges and grants receivableStart of year $0$0
X-4 Accounts receivableStart of year $0$0
X-8 Inventories for sale or useStart of year $0$0
X-9 Prepaid expenses and deferred chargesStart of year $0$0
X-11 Publicly traded securitiesStart of year $0$0
X-12 Other securitiesStart of year $0$0
X-13 Program-related investmentsStart of year $0$0
X-14 Intangible assetsStart of year $0$0
X-15 Other assetsStart of year $0$0
X-16 Total assetsStart of year $5,809$29,087
X-17 Accounts payable and accrued expensesStart of year $0$0
X-18 Grants payableStart of year $0$0
X-19 Deferred revenueStart of year $0$0
X-20 Tax-exempt bond liabilitiesStart of year $0$0
X-25 Other liabilitiesStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $5,809$29,087
X-28 Net assets with donor restrictionsStart of year $0$0
X-32 Total net assets or fund balancesStart of year $5,809$29,087
X-33 Total liabilities and net assetsStart of year $5,809$29,087
Part XI · Reconciliation of net assets $29,087 net assets at year end
XI-1 Total revenue$352,904
XI-2 Total expenses$329,626
XI-3 Revenue less expenses$23,278
XI-4 Net assets at start of year$5,809
XI-10 Net assets at end of year$29,087

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

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