Iota Phi Lambda Sorority Inc
- Assets
- $94.5k
- Revenue
- $234.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 08/1974
- Data as of
- 06/2020
- EIN
- 23-7390385
Organization Overview
Iota Phi Lambda Sorority Inc is located in Houston, TX. The organization was established in 1974. 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 parent organization of an affiliated group for tax-exemption purposes. Iota Phi Lambda Sorority Inc is a 501(c)(6) and as such, is described as a "Business League, Chambers of Commerce, or Real Estate Board" by the IRS.
For the year ending 06/2020, Iota Phi Lambda Sorority Inc generated $234.0k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 9.5% each year. All expenses for the organization totaled $96.0k during the year ending 06/2020. 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
ENHANCING AND IMPROVING THE STATUS OF WOMEN IN EDUCATION AND BUSINESS, ESTABLISHING AND PROMOTING CIVIC ACTIVITIES FOR YOUTH AND ADULTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
DEVELOPING AND PROMOTING INTEREST IN BUSINESS AND EDUCATION IN HIGH
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
S Dilworth Natl President | Officer | 30 | $0 |
D White Pres Elect | Officer | 20 | $0 |
E Brathwaite Secretary | Officer | 20 | $0 |
A Dutton Treasurer | Officer | 20 | $0 |
Jessica Brown Centl Reg Dir | Officer | 10 | $0 |
S Dean Johnson Eastn Reg Dir | Officer | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $229,129 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,885 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $234,014 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $9,000 |
| 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 | $1,100 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $3,446 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,969 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $37,375 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $96,030 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $84,952 |
| Savings and temporary cash investments | $9,519 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $94,471 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Total liabilities and net assets/fund balances | $94,471 |