Phi Kappa Psi Fraternity
- Assets
- $3.9m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 24
- Location
- Indianapolis, IN
- Founding
- 01/1941
- Data as of
- 05/2024
- EIN
- 36-2362161
Organization Overview
Phi Kappa Psi Fraternity is located in Indianapolis, IN. The organization was established in 1941. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 05/2024, Phi Kappa Psi Fraternity employed 24 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Phi Kappa Psi Fraternity is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 05/2024, Phi Kappa Psi Fraternity generated $3.5m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.9%) each year. All expenses for the organization totaled $3.6m during the year ending 05/2024. As we would expect to see with falling revenues, expenses have declined by (4.4%) per year over the past 9 years. 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION IS AN ASSOCIATION OF MEN OF INTEGRITY WHO STRIVE TO DEVELOP THE INDIVIDUAL IN HIS INTELLECT, IN HIS INVOLVEMENT IN THE COMMUNITY, AND IN HIS FAITH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
GENERAL MANAGEMENT AND EDUCATIONAL SERVICES OF 100 CHAPTERS AND THOSE EXPENDITURES RELATING TO THE ADMINISTRATION AND EDUCATION OF APPROXIMATELY 98,148 MEMBERS.
PUBLICATION EXPENDITURES FOR THE PROMOTION OF CITIZENSHIP, LEADERSHIP, AND SCHOLASTIC ACHIEVEMENT OF THE UNDERGRADUATE AND ALUMNI MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Marchesani President | OfficerTrustee | 10 | $0 |
Marc Dumas Vice President | OfficerTrustee | 10 | $0 |
Charles Brandman Treasurer | OfficerTrustee | 10 | $0 |
Chris Wheeler Secretary | OfficerTrustee | 10 | $0 |
Martin Nguyen Archon | Trustee | 10 | $0 |
Maxwell Pratt Archon | Trustee | 10 | $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 | $10,574 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $10,574 |
| Total Program Service Revenue | $3,429,882 |
| Investment income | $24,232 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $45,750 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$11,429 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$41,630 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,462,956 |
| 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. | $143,430 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,003,657 |
| Pension plan accruals and contributions | $36,048 |
| Other employee benefits | $0 |
| Payroll taxes | $84,034 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $27,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $118,678 |
| Advertising and promotion | $0 |
| Office expenses | $255,207 |
| Information technology | $79,494 |
| Royalties | $0 |
| Occupancy | $111,943 |
| Travel | $353,650 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $81,186 |
| Interest | $19,441 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $20,277 |
| Insurance | $1,176,658 |
| All other expenses | $1,239 |
| Total functional expenses | $3,596,087 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,764,564 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $253,326 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $5,614 |
| Prepaid expenses and deferred charges | $734,052 |
| Net Land, buildings, and equipment | $120,027 |
| Investments—publicly traded securities | $314,263 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $682,497 |
| Total assets | $3,874,343 |
| Accounts payable and accrued expenses | $244,273 |
| Grants payable | $0 |
| Deferred revenue | $217,049 |
| 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 | $142,572 |
| Other liabilities | $764,142 |
| Total liabilities | $1,368,036 |
| Net assets without donor restrictions | $2,364,290 |
| Net assets with donor restrictions | $142,017 |
| 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 | $3,874,343 |