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Chi Upsilon Corp FY2022 filing

Not tax-deductible

Boulder, CO501(c)(7)EducationEIN 82-4601383Revenue $245K in FY2022

On file with the IRS967 14th St, 80302-7307 · Boulder, COTax-exempt since May 2019

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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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FY2022 · 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
Cash reserves
1 mo
of spending, in cash
Fine: 1.0 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 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
$245K
+62% vs prior year
Spent
$235K
To programs
100%
Net assets
$19K
By yearFY2021–FY2023
Revenue
$245K
FY2022▲ +62%
Tap a bar for its year
Revenue by fiscal year
FY2021$151K
FY2022$245K
FY2023$346K
Expenses
$235K
FY2022
Tap a bar for its year
Expenses by fiscal year
FY2021Not on file
FY2022$235K
FY2023$338K
Net assets
$19K
FY2022▼ -25%
Tap a bar for its year
Net assets by fiscal year
FY2021$25K
FY2022$19K
FY2023$17K

From the FY2022 Form 990 · see the original

990 PDF Claim
You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2023) →

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% · $235K

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
Samuel Aaron Maged
Chief Executive Officer
$0Pt VII · Sec A
Skylar Haroche
Chief Operating Officer
$0Pt VII · Sec A
Frank Elijah Brown
Chief Financial Officer
$0Pt VII · Sec A
Samuel Strimling
Chief Administrative and Records Officer
$0Pt VII · Sec A
Elijah Gottesfeld
Chief Health, Safety and Compliance Officer
$0Pt VII · Sec A
Max Miller
Chief Brotherhood Officer
$0Pt VII · Sec A
Ethan Schaefer
Chief Onboarding and Development Officer
$0Pt VII · Sec A
Ethan Sachs
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 · $123K · in their own filed words · FY2022
01

55000 was spent on hosting social events for its members.

$55Kprogram expense
02

50,000 was spent on a fraternity "formal". The event is for members only and includes reserving hotels and restaurants for 60+ people.

$50Kprogram expense
03

$18,000 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.

$18Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$245K
Ln 12
Fees for servicesLn 2g$245K
Money outPt IX
$235K
Ln 25
Programscol B$235K
Owns and owesPt X
$19K
net assets · Ln 32
Cash and savingsLn 1–2$19K
Total assetsLn 16$19K
LiabilitiesLn 26$0
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$245K
Total revenueLn 12$245K
Assets in detailPt X, end of year
CashLn 1$19K
Cash and savings togetherLn 1–2$19K
Total assetsLn 16$19K
LiabilitiesLn 26$0
Net assetsLn 32$19K
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 FY22End FY22
Cash and savingsLn 1–2$9K$19K
Total assetsLn 16$9K$19K
LiabilitiesLn 26$0$0
Net assetsLn 32$9K$19K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Benefits paid to or for membersLn 4$230K$230K
Accounting feesLn 11c$5K$5K
Total functional expensesLn 25$235K$235K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2023 Latest $346K$338K$8K$17K 990 PDF
FY2022 Viewing $245K$235K$10K$19K 990 PDF
FY2021 $151K$25K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $245,388 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $0$245,388
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $0$245,388
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$230,143
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expenses$4,975
I-18 Total expensesPrior year $0$235,118
I-19 Revenue less expensesPrior year $0$10,270
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 $245,388 across 2 lines filed
Lines not itemized here account for $245,388 of total revenue; see the IRS return.
VIII-1h Total contributions, gifts and grants$0
VIII-12 Total revenueRelated to mission $245,388 · Unrelated business $0 · Excluded from tax $0$245,388
Part IX · Statement of functional expenses $235,118 across 2 lines filed
IX-4 Benefits paid to or for membersPrograms $230,143$230,143
IX-11c Accounting feesPrograms $4,975$4,975
IX-25 Total functional expensesPrograms $235,118 · Management $0 · Fundraising $0$235,118
Part X · Balance sheet $18,843 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $8,573$18,843
X-16 Total assetsStart of year $8,573$18,843
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $8,573$18,843
X-33 Total liabilities and net assetsStart of year $8,573$18,843
Part XI · Reconciliation of net assets $18,843 net assets at year end
XI-1 Total revenue$245,388
XI-2 Total expenses$235,118
XI-3 Revenue less expenses$10,270
XI-4 Net assets at start of year$8,573
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$0
XI-10 Net assets at end of year$18,843

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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