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Martlet INC FY2023 filing

Not tax-deductible

Indianapolis, INMutual-benefit / member-servingCommunity DevelopmentEIN 84-2326831Revenue $4.7M in FY2023

On file with the IRS3845 N Meridian St, 46208-4036 · Indianapolis, INTax-exempt since Apr 2021

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Hold property for the delta chi fraternity.

Mission: Form 990 Part I, line 1

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
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
6 of 6
filings with a surplus
Average surplus $1.0M a year · 82% of revenue · last 6 filings
Looks good: a surplus in 6 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
10 mo
of spending, in cash
Looks good: 10.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$220K
4% of total assets
Looks good: liabilities are 4% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$4.7M
×36 vs prior year
Spent
$217K
Net assets
$6.1M
By yearFY2020–FY2025
Revenue
$4.7M
FY2023▲ ×36
Tap a bar for its year
Revenue by fiscal year
FY2020$1.6M
FY2021$132K
FY2022$132K
FY2023$4.7M
FY2024$236K
FY2025$625K
Expenses
$217K
FY2023▲ +64%
Tap a bar for its year
Expenses by fiscal year
FY2020$121K
FY2021$132K
FY2022$132K
FY2023$217K
FY2024$181K
FY2025$585K
Net assets
$6.1M
FY2023▲ +305%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.5M
FY2021$1.5M
FY2022$1.5M
FY2023$6.1M
FY2024$6.6M
FY2025$6.7M

From the FY2023 Form 990 (year ending June 2023) · see the original

Form 990 (PDF) Claim
You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Apr 2021.

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

Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Mark Sexton
Director
$0Pt VII · Sec A
Jerod Breit Through 13123
Executive Director
$0Pt VII · Sec A
$0Pt VII · Sec A
See Martlet 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

Manages property for the Delta Chi Fraternity.

Questions for Martlet INC

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Provided by the organization

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1 program · in their own filed words · FY2022
01

Hold property for the delta chi fraternity.

Pt IX · col B

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$4.7M
Ln 12
Gifts and grantsLn 1h$4.6M
Fees for servicesLn 2g$132K
Investment incomeLn 3$7K
Money outPt IX
$217K
Ln 25
Owns and owesPt X
$6.1M
net assets · Ln 32
Cash and savingsLn 1–2$187K
Total assetsLn 16$6.3M
LiabilitiesLn 26$220K
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4.6M
Noncash giftsLn 1g$4.6M
Fees for servicesLn 2g$132K
Investment incomeLn 3$7K
Total revenueLn 12$4.7M
Assets in detailPt X, end of year
CashLn 1$187K
Cash and savings togetherLn 1–2$187K
InvestmentsLn 11–13$4.6M
Land, buildings, equipmentLn 10c$1.3M
Other assetsLn 15$100K
Total assetsLn 16$6.3M
LiabilitiesLn 26$220K
Net assetsLn 32$6.1M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
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$201K$187K
InvestmentsLn 11–13$4.6M
Land, buildings, equipmentLn 10c$1.4M$1.3M
Total assetsLn 16$1.6M$6.3M
LiabilitiesLn 26$91K$220K
Net assetsLn 32$1.5M$6.1M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$176K
Legal feesLn 11b$22
Accounting feesLn 11c$1K
Office expensesLn 13$57
OccupancyLn 16$975
Depreciation, depletion and amortizationLn 22$38K
InsuranceLn 23$338
Total functional expensesLn 25$217K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $625K$585K$40K$6.7M 990 PDF
FY2024 $236K$181K$55K$6.6M 990 PDF
FY2023 Viewing $4.7M$217K$4.5M$6.1M 990 PDF
FY2022 $132K$132K$0$1.5M 990 PDF
FY2021 $132K$132K$0$1.5M 990 PDF
FY2020 $1.6M$121K$1.5M$1.5M 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 $4,706,188 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$4,567,272
I-9 Program service revenuePrior year $132,000$132,000
I-10 Investment incomePrior year $0$6,916
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $132,000$4,706,188
I-13 Grants and similar amounts paidPrior year $90,899$175,864
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 $41,101$41,112
I-18 Total expensesPrior year $132,000$216,976
I-19 Revenue less expensesPrior year $0$4,489,212
Part VI · Governance 5 of 5 board members independent, 2 to look at
VI-1a Voting members of the governing body5
VI-1b Independent voting members5
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-12a Written conflict of interest policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $4,706,188 across 6 lines filed
VIII-1d Related organizations$4,567,272
VIII-1g Noncash contributions (included above)$4,567,272
VIII-1h Total contributions, gifts and grants$4,567,272
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $132,000$132,000
VIII-3 Investment incomeUnrelated business $6,916$6,916
VIII-12 Total revenueRelated to mission $132,000 · Unrelated business $6,916 · Excluded from tax $0$4,706,188
Part IX · Statement of functional expenses $216,976 across 7 lines filed
IX-1 Grants to domestic organizations$175,864
IX-11b Legal fees$22
IX-11c Accounting fees$1,275
IX-13 Office expenses$57
IX-16 Occupancy$975
IX-22 Depreciation, depletion and amortization$38,445
IX-23 Insurance$338
IX-25 Total functional expenses$216,976
Part X · Balance sheet $6,286,054 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $201,173$186,944
X-10c Land, buildings and equipment, netStart of year $1,388,302$1,349,857
X-11 Publicly traded securities$4,649,184
X-15 Other assetsStart of year $0$100,069
X-16 Total assetsStart of year $1,589,475$6,286,054
X-17 Accounts payable and accrued expenses$320
X-18 Grants payableStart of year $90,899$87,385
X-25 Other liabilitiesStart of year $0$132,501
X-26 Total liabilitiesStart of year $90,899$220,206
X-27 Net assets without donor restrictionsStart of year $1,498,576$6,065,848
X-32 Total net assets or fund balancesStart of year $1,498,576$6,065,848
X-33 Total liabilities and net assetsStart of year $1,589,475$6,286,054
Part XI · Reconciliation of net assets $6,065,848 net assets at year end
XI-1 Total revenue$4,706,188
XI-2 Total expenses$216,976
XI-3 Revenue less expenses$4,489,212
XI-4 Net assets at start of year$1,498,576
XI-5 Net unrealized gains (losses) on investments$78,060
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,065,848

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

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