Chi Omega Fraternity
- Assets
- $422.5k
- Revenue
- $304.7k
- Investments
- $0.0
- Employees
- 1
- Location
- Peoria, IL
- Founding
- 12/1940
- Data as of
- 05/2023
- EIN
- 37-1204179
Organization Overview
Chi Omega Fraternity is located in Peoria, IL. The organization was established in 1940. 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 Omega Fraternity is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 05/2023, Chi Omega Fraternity generated $304.7k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.7%) each year. All expenses for the organization totaled $297.4k during the year ending 05/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE LASTING AND ENDURING FRIENDSHIPS AMONG ITS MEMBERS; TO FOSTER HIGHER STANDARDS OF INTELLECTUAL ACHIEVEMENT AND ETHICAL BEHAVIOR AMONG ITS MEMBERS; TO PROMOTE THE EDUCATION OF ITS CHAPTER MEMBERS AND TO PROMOTE THE EDUCATIONAL AND SOCIAL MILIEU OF THE COLLEGE WHERE ITS CHAPTER OF CHI OMEGA FRATERNITY IS ESTABLISHED; AND TO PROMOTE THE DEVELOPMENT OF EDUCATION AND ADVANCEMENT IN LIFE OF ITS COLLEGIATE MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ALL REVENUE AND EXPENSES ARE RELATED TO THE MAINTENANCE AND OPERATION OF A SORORITY HOUSE FOR ITS MEMBERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kim Armstrong President | OfficerTrustee | 2 | $0 |
Allyson Schneider Treasurer | OfficerTrustee | 1 | $0 |
Shelly Heiden Secretary | OfficerTrustee | 1 | $0 |
Brenda Legaspi Director | Trustee | 1 | $0 |
Julie Harvill Director | Trustee | 1 | $0 |
Kathy MA Vice President | OfficerTrustee | 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 | $304,403 |
| Investment income | $337 |
| 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 | $304,740 |
| 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 | $27,604 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $20,603 |
| Payroll taxes | $2,306 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $19,446 |
| 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 | $2,779 |
| Information technology | $3,339 |
| Royalties | $0 |
| Occupancy | $18,647 |
| Travel | $3,399 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,807 |
| Insurance | $5,687 |
| All other expenses | $19,445 |
| Total functional expenses | $297,433 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $57,164 |
| Savings and temporary cash investments | $365,378 |
| 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 | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $422,542 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $422,542 |