Chi Upsilon Corp

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Fraternity organization. Provides social events and activities for its members.

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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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
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
2 of 2
filings with a surplus
Average surplus $9K a year · 3% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
<1 mo
of spending, in cash
Worth a look: 0.6 months of spending in cash; under 1.
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 9 voting members
Concern: none of 9 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$346K
+41% vs prior year
Spent
$338K
To programs
100%
Net assets
$17K
By yearFY2021–FY2023
Revenue
$346K
FY2023▲ +41%
Tap a bar for its year
Revenue by fiscal year
FY2021$151K
FY2022$245K
FY2023$346K
Expenses
$338K
FY2023▲ +44%
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022$235K
FY2023$338K
Net assets
$17K
FY2023▼ -9%
Tap a bar for its year
Net assets by fiscal year
FY2021$25K
FY2022$19K
FY2023$17K

From the FY2023 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2023. IRS ruling in May 2019.

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% · $338K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation
Chief Executive Officer
$0Pt VII · Sec A
Chief Operating Officer
$0Pt VII · Sec A
Chief Financial Officer
$0Pt VII · Sec A
Chief Administrative and Records Officer
$0Pt VII · Sec A
Chief Health, Safety and Compliance Officer
$0Pt VII · Sec A
Chief Brotherhood Officer
$0Pt VII · Sec A
Chief Onboarding and Development Officer
$0Pt VII · Sec A
Chief Recruitment Officer
$0Pt VII · Sec A
See Chi Upsilon Corp 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

Offers social events and activities for members.

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Provided by the organization

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3 programs · $180K · in their own filed words · FY2023
01

$100000 was spent on a fraternity "formal". The event is for members only and includes reserving hotels and restaurants for 60+ people.

$100Kprogram expense
02

$60k was spent on hosting social events for its members.

$60Kprogram expense
03

$20K was spent on recruitment efforts for the fraternity during the year. The money was spent on hosting events for potential new members, so that they can meet the members of the fraternity.

$20Kprogram expense

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$346K
Ln 12
Gifts and grantsLn 1h$346K
Money outPt IX
$338K
Ln 25
Programscol B$338K
Owns and owesPt X
$17K
net assets · Ln 32
Cash and savingsLn 1–2$17K
Total assetsLn 16$17K
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$346K
Total revenueLn 12$346K
Assets in detailPt X, end of year
CashLn 1$7K
SavingsLn 2$10K
Cash and savings togetherLn 1–2$17K
Total assetsLn 16$17K
LiabilitiesLn 26$0
Net assetsLn 32$17K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$19K$17K
Total assetsLn 16$19K$17K
LiabilitiesLn 26$0$0
Net assetsLn 32$19K$17K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$338K$338K
Total functional expensesLn 25$338K$338K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest Viewing $346K$338K$8K$17K 990 PDF
FY2022 $245K$235K$10K$19K 990 PDF
FY2021 $151K$25K 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 $346,491 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$346,491
I-9 Program service revenuePrior year $245,388$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $245,388$346,491
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $230,143$338,175
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $4,975$0
I-18 Total expensesPrior year $235,118$338,175
I-19 Revenue less expensesPrior year $10,270$8,316
Part VI · Governance 0 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $346,491 across 3 lines filed
VIII-1b Membership dues$346,491
VIII-1h Total contributions, gifts and grants$346,491
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$346,491
Part IX · Statement of functional expenses $338,175 across 1 line filed
IX-4 Benefits paid to or for membersPrograms $338,175$338,175
IX-25 Total functional expensesPrograms $338,175 · Management $0 · Fundraising $0$338,175
Part X · Balance sheet $17,177 assets, 11 lines filed
X-1 Cash, non-interest-bearingStart of year $18,843$7,177
X-2 Savings and temporary cash investmentsStart of year $0$10,000
X-16 Total assetsStart of year $18,843$17,177
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-24 Unsecured notes and loans payableStart of year $0$0
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $18,843$17,177
X-33 Total liabilities and net assetsStart of year $18,843$17,177
Part XI · Reconciliation of net assets $17,177 net assets at year end
XI-1 Total revenue$346,491
XI-2 Total expenses$338,175
XI-3 Revenue less expenses$8,316
XI-4 Net assets at start of year$18,843
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets−$9,982
XI-10 Net assets at end of year$17,177

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

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