Omega Psi Phi Fraternity
- Assets
- $10.1m
- Revenue
- $8.2m
- Investments
- $0.0
- Employees
- 21
- Location
- Decatur, GA
- Founding
- 01/1953
- Data as of
- 10/2020
- EIN
- 53-0209696
Organization Overview
Omega Psi Phi Fraternity is located in Decatur, GA. The organization was established in 1953. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, under the broad grouping of Education and related organizations. As of 10/2020, Omega Psi Phi Fraternity employed 21 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Omega Psi Phi Fraternity is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 10/2020, Omega Psi Phi Fraternity generated $8.2m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.3% each year. All expenses for the organization totaled $6.2m during the year ending 10/2020. While expenses have increased by 0.4% per year over the past 6 years. They've been increasing with an increasing level of total revenue. 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
THE PURPOSE OF THE FRATERNITY IS TO BRING ABOUT A UNION OF COLLEGE MEN OF SIMILAR HIGH IDEAS OF MANHOOD AND SCHOLARSHIP IN ORDER TO STIMULATE THE ATTAINMENT OF IDEAS AND AMBITIONS OF ITS MEMBERS; OCCUPY A PROGRESSIVE, HELPFUL AND CONSTRUCTIVE PLACE IN POLITICAL LIFE OF THE COMMUNITY AND NATION WITH PERSEVERANCE; FOSTER AND UPLIFT HUMANITY, FREEDOM, AND DIGNITY OF THE INDIVIDUAL; AND AID DOWNTRODDEN HUMANITY IN ITS EFFORTS TO ACHIEVE HIGHER ECONOMIC AND INTELLECTUAL STATUS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MINORITY AND DISADVANTAGED LEADERSHIP DEVELOPMENT PROGRAMS. ENCOURAGEMENT FOR MINORITY AND DISADVANTAGED YOUTH TO PURSUE SKILL DEVELOPMENT IN THE FINE ARTS. CONTRIBUTION TO AFRICAN-AMERICAN LIFE AND HISTORY, CIVIC, AND COMMUNITY INVOLVEMENT AND ASSAULT ON ILLITERACY PROGRAMS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Howard Executive Officer | Officer | 40 | $121,530 |
Dr David Marion Grand Basileus | OfficerTrustee | 10 | $6,000 |
Austin Jarrell Tatum 2nd Vice Basileus | OfficerTrustee | 10 | $0 |
Ricky L Lewis 1st Vice Basileus | OfficerTrustee | 10 | $0 |
Daniel B Jones Sr Keeper Of Finance | OfficerTrustee | 10 | $0 |
Mark Everick Jackson Keeper Of Records | OfficerTrustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,947,661 |
| Investment income | $52,915 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $17,712 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $8,150,669 |
| 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. | $127,530 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,074,154 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,960 |
| Fees for services: Accounting | $37,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $367,819 |
| Advertising and promotion | $0 |
| Office expenses | $264,706 |
| Information technology | $525,239 |
| Royalties | $0 |
| Occupancy | $398,960 |
| Travel | $129,187 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $504,204 |
| Interest | $327,645 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $78,117 |
| Insurance | $1,162,860 |
| All other expenses | $0 |
| Total functional expenses | $6,222,047 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $7,579,233 |
| Savings and temporary cash investments | $0 |
| 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 | $530,040 |
| Investments—publicly traded securities | $1,428,992 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $381,260 |
| Total assets | $10,119,312 |
| Accounts payable and accrued expenses | $394,715 |
| Grants payable | $0 |
| Deferred revenue | $617,005 |
| 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 | $533,784 |
| Total liabilities | $1,545,504 |
| 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 | $8,573,808 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Omega Psi Phi Fraternity has recieved totaling $21,000.
| Awarding Organization | Amount |
|---|---|
Omega Life Membership Foundation Inc Washington, DC PURPOSE: LEADERSHIP DEVELOPME | $21,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pi Kappa Phi Properties Inc Charlotte, NC | $36,157,884 | $10,688,194 |
Alpha Omicron Pi Fraternity Inc Brentwood, TN | $57,425,535 | $8,065,959 |
Omega Psi Phi Fraternity Decatur, GA | $10,119,312 | $8,150,669 |
Alpha Gamma Delta Fraternity Tuscaloosa, AL | $2,561,270 | $3,643,915 |
House Board Of Gamma Pi Of Kappa Kappa Gamma Tuscaloosa, AL | $20,813,023 | $3,697,163 |
Nautilus Management Inc Memphis, TN | $16,834,211 | $2,172,564 |
Alabama Beta Of Pi Beta Phi House Association Incorporated Tuscaloosa, AL | $16,056,470 | $2,809,750 |
The Tau Beta Pi Association Inc Knoxville, TN | $43,758,884 | $4,633,459 |
Kappa Delta Sorority Tuscaloosa, AL | $18,544,101 | $3,357,016 |
Alpha Chi Omega Alpha Upsilon House Corporation Tuscaloosa, AL | $17,872,945 | $3,140,605 |
Phi Mu House Corporation Tuscaloosa, AL | $18,579,547 | $3,616,804 |
Alpha Delta Pi Building Corporation Tuscaloosa, AL | $14,319,134 | $2,607,081 |