Pennsylvania Lambda Corporation Of The Phi Kappa Psi Fraternity
- Assets
- $678.5k
- Revenue
- $115.0k
- Investments
- $0.0
- Employees
- 0
- Location
- State College, PA
- Founding
- 01/1973
- Data as of
- 05/2022
- EIN
- 25-1370973
Organization Overview
Pennsylvania Lambda Corporation Of The Phi Kappa Psi Fraternity is located in State College, PA. The organization was established in 1973. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Pennsylvania Lambda Corporation Of The Phi Kappa Psi Fraternity is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO HOLD TITLE TO PROPERTY WHICH IS USED BY THE PENN STATE CHAPTER OF THE PHI KAPPA PSI FRATERNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROMOTE ADADEMIC AND SOCIAL BROTHERHOOD AMONG MEMBERS. THE ORGANIZATION PROVIDES AND MAINTAINS THE FRATERNITY HOUSE WERE MEMBERS LIVE WHILE ENROLLED AT THE PENNSYLVANIA STATE UNIVERSITY. RENT INCOME IS COLLECTED FROM THE FRATERNITY BROTHERS AND EXPENSES FOR THE OPERATION AND MAINTENANCE OF THE HOUSE ARE PAID BY THE CORPORATION.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Michelotti Secretary | OfficerTrustee | 2 | $0 |
Charles Chip Brown Vice President | OfficerTrustee | 2 | $0 |
Tony Paluka Treasurer | OfficerTrustee | 3 | $0 |
Frank Pugliese President | OfficerTrustee | 4 | $0 |
Mike Gruin Corporation Counsel | Trustee | 1 | $0 |
Howard Welsh Chapter Advisor | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $115,000 |
| Investment income | $12 |
| 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 | $115,012 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $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 | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $2,450 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $5,150 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,962 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $2,613 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $36,817 |
| Insurance | $9,954 |
| All other expenses | $2,077 |
| Total functional expenses | $100,023 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $117,188 |
| 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 | $552,331 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,000 |
| Total assets | $678,519 |
| Accounts payable and accrued expenses | $12,057 |
| 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 | $11,200 |
| Total liabilities | $23,257 |
| Net assets without donor restrictions | $655,262 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $678,519 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Pennsylvania Lambda Corporation Of The Phi Kappa Psi Fraternity has recieved totaling $32,628.
| Awarding Organization | Amount |
|---|---|
The Endowment Fund Of The Phi Kappa Psi Fraternity Indianapolis, IN PURPOSE: EDUCATIONAL OPERATING GRANTS | $32,628 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Tuscarora Intermediate Unit Capital Insurance Trust Pleasant Gap, PA | $4,120,321 | $22,419,678 |
Weachieve Inc Silver Spring, MD | $15,012,410 | $16,647,397 |
Beta Theta Pi Fraternity Oxford, OH | $3,680,117 | $8,942,106 |
Beta Theta Pi Fraternity Oxford, OH | $10,733,585 | $6,268,729 |
Delta Gamma Foundation Columbus, OH | $43,080,592 | $13,458,880 |
Phi Sigma Sigma National Housing Corporation Eldersburg, MD | $5,105,404 | $4,513,250 |
Phi Delta Theta Foundation Oxford, OH | $39,955,120 | $4,831,339 |
Delta Zeta Foundation Oxford, OH | $16,389,397 | $3,220,126 |
Delta Phi Epsilon Sorority Inc Philadelphia, PA | $2,908,015 | $2,233,543 |
Beta Psi House Corporation Of Delta Gamma Fraternity Columbus, OH | $8,243,959 | $1,563,984 |
Alpha Psi House Corporation Of Delta Gamma Fraternity Inc Columbus, OH | $10,685,120 | $1,625,378 |
Delta Gamma House Corp Columbus, OH | $9,588,322 | $1,372,665 |