Pi Lambda Phi Fraternity
- Assets
- $1.7m
- Revenue
- $57.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Fitcburg, WI
- Founding
- 03/1941
- Data as of
- 06/2023
- EIN
- 39-0812978
Organization Overview
Pi Lambda Phi Fraternity is located in Fitcburg, WI. The organization was established in 1941. 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. Pi Lambda Phi Fraternity is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CORPORATION IS ORGANIZED AND SHALL AT ALL TIMES BE OPERATED, EXCLUSIVELY FOR PLEASURE, RECREATIONAL, AND OTHER NONPROFITABLE CLUB PURPOSES DESCRIBED IN CODE SECTION 501(C)(7) INCLUDING, BUT NOT LIMITED TO (I) OWNING, OPERATING, AND MANAGEING A HOUSE OR HOME FOR THE MEMBERS OF THE OMEGA CHAPTER OF PI LAMBDA PHI FRATERNITY IN THE CITY OF MADISON, DANE COUNTY, WISCONSIN, (II) IMPROVING REAL ESTATE AND CONSTRUCTING, ERECTING, REMODELING, OR RECONSTRUCTING BUILDINGS THE FRATERNITY'S HOUSING NEEDS (III) INVESTING THE CORPORATION'S MONEY AND OTHER ASSETS, AND (IV) DOING SUCH BUSINESS AS MAY BE NECESSARY TO ADVANCE THE FOREGOING PURPOSES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWNING, OPERATING, AND MANAGEING A HOUSE OR HOME FOR THE MEMBERS OF THE OMEGA CHAPTER OF PI LAMBDA PHI FRATERNITY IN THE CITY OF MADISON, DANE COUNTY, WISCONSIN, AND IMPROVING, CONSTRUCTING, AND REMODELING AS NECCESARY
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dale Mitchell President | Trustee | 2 | $0 |
Michael Whelan Vice President | Trustee | 2 | $0 |
Edward Kinney Treasurer | Trustee | 2 | $0 |
Brannon Lambert Secretary | Trustee | 2 | $0 |
Isaia Ben-Ami Director | Trustee | 2 | $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 | $61,500 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $61,500 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | -$4,001 |
| 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 | $57,499 |
| 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 | $28,958 |
| Fees for services: Accounting | $0 |
| 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 | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $28,958 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $47,906 |
| Savings and temporary cash investments | $90,970 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,480 |
| 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 | $6,596 |
| Net Land, buildings, and equipment | $1,594,574 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,749,526 |
| Accounts payable and accrued expenses | $13,838 |
| 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 | $75,000 |
| Secured mortgages and notes payable | $892,977 |
| Unsecured mortgages and notes payable | $463,000 |
| Other liabilities | $13,065 |
| Total liabilities | $1,457,880 |
| 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 | $291,646 |
| Total liabilities and net assets/fund balances | $1,749,526 |