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Mu Phi Epsilon Foundation FY2021 filing

Tax-deductible

Saint Paul, MN501(c)(3)Since 1963EIN 95-6097896Revenue $215K in FY2021

On file with the IRSmpefoundation.org1611 County Road B W Ste 320, 55113-4053 · Saint Paul, MNTax-exempt since Oct 1964Publicly supported — 509(a)(2)

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The Mu Phi Epsilon Foundation is operated for the promotion and advancement of music and for the benefit of philanthropic projects of Mu Phi Epsilon, a national music fraternity. The Foundation provides scholarships and grants for music students.

501(c)(3) charity; gifts are tax-deductible.
60¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 5
filings with a surplus
Average surplus $16K a year · 6% of revenue · last 5 filings
Worth a look: a surplus in 2 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
60%
of spending
Worth a look: 60% of spending went to programs; under 65%.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $81
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$215K
+50% vs prior year
Spent
$227K
To programs
60%
Net assets
$6.2M
By yearFY2020–FY2024
Revenue
$215K
FY2021▲ +50%
Tap a bar for its year
Revenue by fiscal year
FY2020$143K
FY2021$215K
FY2022$50K
FY2023$307K
FY2024$607K
FY2024$899K
Expenses
$227K
FY2021▲ +17%
Tap a bar for its year
Expenses by fiscal year
FY2020$193K
FY2021$227K
FY2022$223K
FY2023$233K
FY2024$365K
FY2024$251K
Net assets
$6.2M
FY2021▲ +27%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.9M
FY2021$6.2M
FY2022$5.8M
FY2023$5.6M
FY2024$6.4M
FY2024$7.0M

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1964.

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

Where the money goes

60 cents of each dollar spent went to programs.

Program services 60% · $136K Management & general 37% · $84K Fundraising 3% · $7K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Dr Matthew Hoch
Vice President
$0Pt VII · Sec A
Sean Kilgore
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Mu Phi Epsilon Foundation 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

Awards scholarships and grants to support music students and philanthropic music projects.

Questions for Mu Phi Epsilon Foundation

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Provided by the organization

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2 programs · $136K · in their own filed words · FY2020
01

Appropriations

Funds are provided for summer music camps, music school settlements, doctoral grants and grants-in-aid.

$135Kprogram expense
02

Mu Phi Epsilon International Competition and Artists Concerts

Winners at the competition are presented in concert throughout the U.S. Under the sponsorship of chapters of the mu phi epsilon fraternity.

$1Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2023
Amazonsmile FoundationFY2023$81
Total grants receivedfrom 1 funder$81
Grants paid · 6 grants · $686K · 2019–2024
Unitemized GrantFY2024$125,350
Unitemized GrantFY2022$116,700
Unitemized GrantFY2022$116,700
Unitemized GrantFY2021$100,000
Unitemized GrantFY2020$132,350
Unitemized GrantFY2019$94,900

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$215K
Ln 12
Investment incomeLn 3$125K
Gifts and grantsLn 1h$85K
Other incomeLn 4–11$5K
Money outPt IX
$227K
Ln 25
Programscol B$136K
Managementcol C$84K
Fundraisingcol D$7K
Owns and owesPt X
$6.2M
net assets · Ln 32
Cash and savingsLn 1–2$59K
Total assetsLn 16$6.2M
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$85K
Investment incomeLn 3$125K
Other incomeLn 4–11$5K
Gains on assetsLn 7$28K
Total revenueLn 12$215K
Assets in detailPt X, end of year
CashLn 1$25K
SavingsLn 2$34K
Cash and savings togetherLn 1–2$59K
InvestmentsLn 11–13$6.2M
Total assetsLn 16$6.2M
LiabilitiesLn 26$0
Net assetsLn 32$6.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
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 FY21End FY21
Cash and savingsLn 1–2$47K$59K
InvestmentsLn 11–13$4.9M$6.2M
Total assetsLn 16$4.9M$6.2M
LiabilitiesLn 26$0$0
Net assetsLn 32$4.9M$6.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$132K$132K
Management feesLn 11a$14K$14K
Investment management feesLn 11f$63K$63K
Advertising and promotionLn 12$2K$2K
Office expensesLn 13$6K$823$5K
Information technologyLn 14$3K$3K
TravelLn 17$2K$2K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$5K$1K$3K
Total functional expensesLn 25$227K$136K$84K$7K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $607K$365K$242K$6.4M 990 PDF
FY2023 $307K$233K$74K$5.6M 990 PDF
FY2022 $50K$223K−$173K$5.8M 990 PDF
FY2021 Viewing $215K$227K−$11K$6.2M 990 PDF
FY2020 $143K$193K−$50K$4.9M 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 FY2021 990 (6 parts)
Part I · Summary $215,152 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $49,775$85,444
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $89,383$125,153
I-11 Other revenuePrior year $3,825$4,555
I-12 Total revenuePrior year $142,983$215,152
I-13 Grants and similar amounts paidPrior year $94,900$132,350
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 $98,239$94,176
I-18 Total expensesPrior year $193,139$226,526
I-19 Revenue less expensesPrior year −$50,156−$11,374
Part VI · Governance 7 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
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 $215,152 across 6 lines filed
VIII-1f All other contributions, gifts and grants$85,444
VIII-1h Total contributions, gifts and grants$85,444
VIII-3 Investment incomeExcluded from tax $97,000$97,000
VIII-7 Net gain or loss on sales of assetsExcluded from tax $28,153$28,153
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,555$4,555
VIII-12 Total revenueRelated to mission $4,555 · Unrelated business $0 · Excluded from tax $125,153$215,152
Part IX · Statement of functional expenses $226,526 across 9 lines filed
IX-2 Grants to domestic individualsPrograms $132,350$132,350
IX-11a Management feesManagement $13,644$13,644
IX-11f Investment management feesManagement $62,690$62,690
IX-12 Advertising and promotionFundraising $1,620$1,620
IX-13 Office expensesManagement $823 · Fundraising $4,903$5,726
IX-14 Information technologyPrograms $3,000$3,000
IX-17 TravelManagement $1,533$1,533
IX-23 InsuranceManagement $1,426$1,426
IX-24 Other expenses (24a–d)Programs $1,150 · Management $3,387$4,537
IX-25 Total functional expensesPrograms $136,500 · Management $83,503 · Fundraising $6,523$226,526
Part X · Balance sheet $6,214,920 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $14,132$25,293
X-2 Savings and temporary cash investmentsStart of year $32,507$33,821
X-11 Publicly traded securitiesStart of year $4,860,107$6,155,806
X-16 Total assetsStart of year $4,906,746$6,214,920
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,254,706$1,634,449
X-28 Net assets with donor restrictionsStart of year $3,652,040$4,580,471
X-32 Total net assets or fund balancesStart of year $4,906,746$6,214,920
X-33 Total liabilities and net assetsStart of year $4,906,746$6,214,920
Part XI · Reconciliation of net assets $6,214,920 net assets at year end
XI-1 Total revenue$215,152
XI-2 Total expenses$226,526
XI-3 Revenue less expenses−$11,374
XI-4 Net assets at start of year$4,906,746
XI-5 Net unrealized gains (losses) on investments$1,319,548
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,214,920

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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