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Nautilus Management INC

Not tax-deductible

Memphis, TN501(c)(7)Since 2018EducationEIN 83-3203001Revenue $6.0M in FY2025

On file with the IRS3205 Players Ln, 38125-8897 · Memphis, TNTax-exempt since Jul 2019

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To own, operate, provide services to support, or otherwise maintain student housing facilities where kappa delta sorority members live together, commingle or engage in social and recreational activities to advance the sorority's mission and objectives.

Run by 10 volunteers and 2 employees.
Mission: Form 990 Part I, line 1 · People: Part I, lines 5–6

Before you give

FY2025 · 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
2 of 6
filings with a surplus
Average deficit $650K a year · 20% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
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
$34.6M
60% of total assets
Fine: liabilities are 60% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.0M
+15% vs prior year
Spent
$5.2M
Net assets
$23.0M
By yearFY2020–FY2025
Revenue
$6.0M
FY2025▲ +15%
Tap a bar for its year
Revenue by fiscal year
FY2020$1.1M
FY2021$2.2M
FY2022$1.8M
FY2023$3.3M
FY2024$5.2M
FY2025$6.0M
Expenses
$5.2M
FY2025▲ +15%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.2M
FY2021$3.2M
FY2022$3.9M
FY2023$4.6M
FY2024$4.5M
FY2025$5.2M
Net assets
$23.0M
FY2025▲ +5%
Tap a bar for its year
Net assets by fiscal year
FY2020$270K
FY2021−$441K
FY2022$238K
FY2023−$715K
FY2024$21.9M
FY2025$23.0M

From the FY2025 Form 990 (year ending July 2025) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jul 2019.

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

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
Julie Wendell
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Margaret Waples
Executive Director
$0Pt VII · Sec A
Joelle Shearin
Director of Finance
$0Pt VII · Sec A
See Nautilus Management INC 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

Provides housing and social spaces for sorority members to live and engage in activities.

Questions for Nautilus Management INC

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Provided by the organization

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1 program · in their own filed words · FY2024
01

Housing

Providing student housing solutions for our members at locations of kappa delta sorority by renting, purchasing or building facilities and providing related management services.

Pt IX · col B

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$6.0M
Ln 12
Fees for servicesLn 2g$4.0M
Investment incomeLn 3$2.0M
Other incomeLn 4–11$12K
Money outPt IX
$5.2M
Ln 25
Owns and owesPt X
$23.0M
net assets · Ln 32
Cash and savingsLn 1–2$814K
Total assetsLn 16$57.6M
LiabilitiesLn 26$34.6M
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3K
Fees for servicesLn 2g$4.0M
Investment incomeLn 3$2.0M
Other incomeLn 4–11$12K
Gains on assetsLn 7$1.2M
Total revenueLn 12$6.0M
Assets in detailPt X, end of year
SavingsLn 2$814K
Cash and savings togetherLn 1–2$814K
InvestmentsLn 11–13$25.5M
Land, buildings, equipmentLn 10c$26.1M
Other assetsLn 15$2.0M
Total assetsLn 16$57.6M
LiabilitiesLn 26$34.6M
Net assetsLn 32$23.0M
OperationsPt I, VI
EmployeesI 52
VolunteersI 610
Fiscal year endsHeaderJuly
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 FY25End FY25
Cash and savingsLn 1–2$796K$814K
InvestmentsLn 11–13$23.1M$25.5M
Land, buildings, equipmentLn 10c$24.3M$26.1M
Total assetsLn 16$53.7M$57.6M
LiabilitiesLn 26$31.8M$34.6M
Net assetsLn 32$21.9M$23.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$463K
Other salaries and wagesLn 7$228K
Other employee benefitsLn 9$9K
Payroll taxesLn 10$20K
Legal feesLn 11b$41K
Accounting feesLn 11c$5K
Investment management feesLn 11f$71K
Other fees for servicesLn 11g$6K
Office expensesLn 13$153K
Information technologyLn 14$59K
OccupancyLn 16$1.2M
TravelLn 17$47K
InterestLn 20$523K
Depreciation, depletion and amortizationLn 22$1.0M
InsuranceLn 23$112K
Other expenses (24a–d)Ln 24$1.2M
Total functional expensesLn 25$5.2M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $6.0M$5.2M$859K$23.0M 990 PDF
FY2024 $5.2M$4.5M$736K$21.9M 990 PDF
FY2023 $3.3M$4.6M−$1.3M−$715K 990 PDF
FY2022 $1.8M$3.9M−$2.1M$238K 990 PDF
FY2021 $2.2M$3.2M−$998K−$441K 990 PDF
FY2020 $1.1M$2.2M−$1.1M$270K 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 FY2025 990 (6 parts)
Part I · Summary $6,045,187 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $575,663$2,859
I-9 Program service revenuePrior year $3,722,854$3,991,021
I-10 Investment incomePrior year $932,459$2,039,788
I-11 Other revenuePrior year $8,636$11,519
I-12 Total revenuePrior year $5,239,612$6,045,187
I-13 Grants and similar amounts paidPrior year $0$462,666
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $365,762$257,146
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $4,137,799$4,466,139
I-18 Total expensesPrior year $4,503,561$5,185,951
I-19 Revenue less expensesPrior year $736,051$859,236
Part VI · Governance 3 of 3 board members independent, 1 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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 $6,045,187 across 7 lines filed
VIII-1f All other contributions, gifts and grants$2,859
VIII-1h Total contributions, gifts and grants$2,859
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $3,991,021$3,991,021
VIII-3 Investment incomeUnrelated business $816,290$816,290
VIII-7 Net gain or loss on sales of assetsUnrelated business $1,223,498$1,223,498
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $11,519$11,519
VIII-12 Total revenueRelated to mission $4,002,540 · Unrelated business $2,039,788 · Excluded from tax $0$6,045,187
Part IX · Statement of functional expenses $5,185,951 across 16 lines filed
IX-1 Grants to domestic organizations$462,666
IX-7 Other salaries and wages$228,158
IX-9 Other employee benefits$8,941
IX-10 Payroll taxes$20,047
IX-11b Legal fees$41,242
IX-11c Accounting fees$4,906
IX-11f Investment management fees$70,893
IX-11g Other fees for services$6,469
IX-13 Office expenses$152,527
IX-14 Information technology$58,729
IX-16 Occupancy$1,209,786
IX-17 Travel$47,083
IX-20 Interest$522,935
IX-22 Depreciation, depletion and amortization$1,011,930
IX-23 Insurance$111,550
IX-24 Other expenses (24a–d)$1,228,089
IX-25 Total functional expenses$5,185,951
Part X · Balance sheet $57,583,521 assets, 13 lines filed
Asset lines not itemized here account for $2,500,000; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $796,385$814,201
X-4 Accounts receivableStart of year $197,978$456,278
X-9 Prepaid expenses and deferred chargesStart of year $101,989$155,601
X-10c Land, buildings and equipment, netStart of year $24,328,632$26,101,455
X-11 Publicly traded securitiesStart of year $23,070,023$25,514,960
X-15 Other assetsStart of year $2,721,165$2,041,026
X-16 Total assetsStart of year $53,716,172$57,583,521
X-17 Accounts payable and accrued expensesStart of year $6,522,845$246,417
X-25 Other liabilitiesStart of year $2,073,063$21,959,320
X-26 Total liabilitiesStart of year $31,804,060$34,595,535
X-27 Net assets without donor restrictionsStart of year $21,912,112$22,987,986
X-32 Total net assets or fund balancesStart of year $21,912,112$22,987,986
X-33 Total liabilities and net assetsStart of year $53,716,172$57,583,521
Part XI · Reconciliation of net assets $22,987,986 net assets at year end
XI-1 Total revenue$6,045,187
XI-2 Total expenses$5,185,951
XI-3 Revenue less expenses$859,236
XI-4 Net assets at start of year$21,912,112
XI-5 Net unrealized gains (losses) on investments$512,857
XI-9 Other changes in net assets−$296,219
XI-10 Net assets at end of year$22,987,986

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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