Chi Phi Fraternity Inc
- Assets
- $1.4m
- Revenue
- $751.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Newton Lower Falls, MA
- Founding
- 05/1972
- Data as of
- 08/2022
- EIN
- 04-2116079
Organization Overview
Chi Phi Fraternity Inc is located in Newton Lower Falls, MA. The organization was established in 1972. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, under the broad grouping of Education and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Chi Phi Fraternity Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 08/2022, Chi Phi Fraternity Inc generated $751.9k in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 10.8% each year . All expenses for the organization totaled $555.2k during the year ending 08/2022. While expenses have increased by 6.9% per year over the past 6 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
OPERATION OF FRATERNITY HOUSE TO PROVIDE HOUSING AND MEALS FOR MASSACHUSETTS INSTITUTE OF TECHNOLOGY STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OPERATION OF FRATERNITY HOUSE/DORMITORY AND TO PROVIDE MEALS FOR MASSACHUSETTS INSTITUTE OF TECHNOLOGY STUDENTS.
ACADEMIC ASSISTANCE GRANTED TO AID STUDENTS WITH THE PURCHASE OF BOOKS AND OTHER EDUCATIONAL COSTS. FUNDED FROM SET ASIDE FUNDS FOR EDUCATIONAL PURPOSES.
MISCELLANEOUS EDUCATIONAL EXPENSE FOR CIVIC MEMBERSHIPS, DUES AND SUBSCRIPTIONS, COMPUTER AND FURNITURE, AND ALUMNI.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Victor R Tulli President | OfficerTrustee | 5 | $0 |
Thomas A Holtey Treasurer | OfficerTrustee | 5 | $0 |
Mitchell T Westwood Secretary | OfficerTrustee | 5 | $0 |
William W Irving Member At Large | OfficerTrustee | 5 | $0 |
George Sacerdote Director | Trustee | 1 | $0 |
William Popik Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $334,712 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $334,712 |
| Total Program Service Revenue | $413,804 |
| Investment income | $3,380 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $751,896 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $2,334 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $11,000 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,900 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $429 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $9,118 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $223,923 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $798 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $109,790 |
| Insurance | $195 |
| All other expenses | $14,684 |
| Total functional expenses | $555,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $313,096 |
| Savings and temporary cash investments | $34,813 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $996,544 |
| Investments—publicly traded securities | $70,295 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,989 |
| Total assets | $1,444,737 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $289,377 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $289,377 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $22,388 |
| Paid-in or capital surplus, or land, building, or equipment fund | $462,066 |
| Retained earnings, endowment, accumulated income, or other funds | $670,906 |
| Total liabilities and net assets/fund balances | $1,444,737 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Chi Phi Fraternity Inc has recieved totaling $154,421.
| Awarding Organization | Amount |
|---|---|
Society For The Preservation Of Greek Housing Champaign, IL PURPOSE: RESTORATION OF HISTORIC GREEK HOUSING | $154,421 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Benevolent Fraternity Of Unitarian Church Roxbury, MA | $18,907,229 | $2,121,494 |
Akwesasne Boys & Girls Club St Regis Mohawk Tribe Akwesasne, NY | $980,425 | $1,776,234 |
Zeta Psi Fraternity Of North America Pearl River, NY | $650,645 | $844,211 |
Theta Chi Fraternity Inc Hamilton, NY | $187,643 | $1,010,005 |
Sigma Pi Fraternity International Inc Ithaca, NY | $1,758,643 | $749,851 |
Alpha Lambda Delta Fairport, NY | $5,719,443 | $1,145,562 |
Pi Lambda Phi Fraternity Inc Greenwich, CT | $1,029,582 | $859,864 |
Lambda Chi Alpha Fraternity Inc Ithaca, NY | $99,913 | $753,956 |
Sigma Delta Tau Society Syracuse, NY | $247,838 | $761,274 |
Alpha Epsilon Phi Sorority Inc Danbury, CT | $1,675,626 | $935,849 |
Zeta Phi Chapter House Corp Of Alpha Phi Intrnatl Frat Inc Boston, MA | $2,973,626 | $954,161 |
Alpha Beta Corporation Wakefield, RI | $2,169,290 | $616,339 |