Mu Phi Epsilon Foundation FY2024 filing

Tax-deductible

Saint Paul, MN501(c)(3)Since 1963EIN 95-6097896Revenue $607K in FY2024

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.
70¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2024 · 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
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
3 of 6
filings with a surplus
Average surplus $121K a year · 33% of revenue · last 6 filings
Worth a look: a surplus in 3 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
70%
of spending
Fine: 70% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.7 months of spending in cash; under 1.
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
$607K
+98% vs prior year
Spent
$365K
To programs
70%
Net assets
$6.4M
By yearFY2020–FY2025
Revenue
$607K
FY2024▲ +98%
Tap a bar for its year
Revenue by fiscal year
FY2020$143K
FY2021$215K
FY2022$50K
FY2023$307K
FY2024$607K
FY2025$899K
Expenses
$365K
FY2024▲ +57%
Tap a bar for its year
Expenses by fiscal year
FY2020$193K
FY2021$227K
FY2022$223K
FY2023$233K
FY2024$365K
FY2025$251K
Net assets
$6.4M
FY2024▲ +15%
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
FY2025$7.0M

From the FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1964.

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

Where the money goes

70 cents of each dollar spent went to programs.

Program services 70% · $256K Management & general 28% · $101K Fundraising 2% · $8K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Grants Coordinator
$0Pt VII · Sec A
Website Adminstrator
$0Pt VII · Sec A
Philanthropies Coordinator
$0Pt VII · Sec A
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$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.

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Provided by the organization

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3 programs · $256K · in their own filed words · FY2023
01

Appropriations

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

$136Kprogram expense
02

Support of the mu phi epsilon fraternity through fundraising and collaborative efforts on projects.

$120Kprogram expense
03

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.

Pt IX · col B

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
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 FY2024 990, line by line.

1The main four
Money inPt VIII
$607K
Ln 12
Investment incomeLn 3$524K
Gifts and grantsLn 1h$82K
Other incomeLn 4–11$304
Money outPt IX
$365K
Ln 25
Programscol B$256K
Managementcol C$101K
Fundraisingcol D$8K
Owns and owesPt X
$6.4M
net assets · Ln 32
Cash and savingsLn 1–2$20K
Total assetsLn 16$6.4M
LiabilitiesLn 26$0
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$82K
Investment incomeLn 3$524K
Other incomeLn 4–11$304
Gains on assetsLn 7$387K
Total revenueLn 12$607K
Assets in detailPt X, end of year
CashLn 1$20K
Cash and savings togetherLn 1–2$20K
InvestmentsLn 11–13$6.4M
Total assetsLn 16$6.4M
LiabilitiesLn 26$0
Net assetsLn 32$6.4M
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 FY24End FY24
Cash and savingsLn 1–2$46K$20K
InvestmentsLn 11–13$5.5M$6.4M
Total assetsLn 16$5.6M$6.4M
LiabilitiesLn 26$330$0
Net assetsLn 32$5.6M$6.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$133K$133K
Management feesLn 11a$14K$14K
Accounting feesLn 11c$4K$4K
Investment management feesLn 11f$66K$66K
Advertising and promotionLn 12$8K$8K
Office expensesLn 13$1K$1K
TravelLn 17$6K$6K
Conferences, conventions and meetingsLn 19$2K$2K
Payments to affiliatesLn 21$120K$120K
InsuranceLn 23$2K$2K
Other expenses (24a–d)Ln 24$8K$3K$5K
Total functional expensesLn 25$365K$256K$101K$8K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $899K$251K$647K$7.0M 990 PDF
FY2024 Viewing $607K$365K$242K$6.4M 990 PDF
FY2023 $307K$233K$74K$5.6M 990 PDF
FY2022 $50K$223K−$173K$5.8M 990 PDF
FY2021 $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 FY2024 990 (6 parts)
Part I · Summary $607,061 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $36,837$82,488
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $270,345$524,269
I-11 Other revenuePrior year $0$304
I-12 Total revenuePrior year $307,182$607,061
I-13 Grants and similar amounts paidPrior year $116,700$133,000
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 $116,145$232,327
I-18 Total expensesPrior year $232,845$365,327
I-19 Revenue less expensesPrior year $74,337$241,734
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 $607,061 across 6 lines filed
VIII-1f All other contributions, gifts and grants$82,488
VIII-1h Total contributions, gifts and grants$82,488
VIII-3 Investment incomeExcluded from tax $137,246$137,246
VIII-7 Net gain or loss on sales of assetsExcluded from tax $387,023$387,023
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $304$304
VIII-12 Total revenueRelated to mission $304 · Unrelated business $0 · Excluded from tax $524,269$607,061
Part IX · Statement of functional expenses $365,327 across 11 lines filed
IX-2 Grants to domestic individualsPrograms $133,000$133,000
IX-11a Management feesManagement $14,359$14,359
IX-11c Accounting feesManagement $3,532$3,532
IX-11f Investment management feesManagement $66,410$66,410
IX-12 Advertising and promotionFundraising $8,110$8,110
IX-13 Office expensesManagement $1,496$1,496
IX-17 TravelManagement $6,268$6,268
IX-19 Conferences, conventions and meetingsManagement $2,427$2,427
IX-21 Payments to affiliatesPrograms $119,830$119,830
IX-23 InsuranceManagement $1,635$1,635
IX-24 Other expenses (24a–d)Programs $3,060 · Management $5,200$8,260
IX-25 Total functional expensesPrograms $255,890 · Management $101,327 · Fundraising $8,110$365,327
Part X · Balance sheet $6,421,080 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $45,830$20,376
X-11 Publicly traded securitiesStart of year $5,542,470$6,400,704
X-16 Total assetsStart of year $5,588,300$6,421,080
X-25 Other liabilitiesStart of year $330$0
X-26 Total liabilitiesStart of year $330$0
X-27 Net assets without donor restrictionsStart of year $1,373,676$1,517,681
X-28 Net assets with donor restrictionsStart of year $4,214,294$4,903,399
X-32 Total net assets or fund balancesStart of year $5,587,970$6,421,080
X-33 Total liabilities and net assetsStart of year $5,588,300$6,421,080
Part XI · Reconciliation of net assets $6,421,080 net assets at year end
XI-1 Total revenue$607,061
XI-2 Total expenses$365,327
XI-3 Revenue less expenses$241,734
XI-4 Net assets at start of year$5,587,970
XI-5 Net unrealized gains (losses) on investments$591,376
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$6,421,080

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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