Iota Gamma Upsilon House Corp
- Assets
- $583.8k
- Revenue
- $116.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Northborough, MA
- Founding
- Data as of
- 08/2022
- EIN
- 04-3188853
Organization Overview
Iota Gamma Upsilon House Corp is located in Northborough, MA. Iota Gamma Upsilon House Corp is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 08/2022, Iota Gamma Upsilon House Corp generated $116.5k in total revenue. This represents relatively stable growth, over the past 3 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $132.4k during the year ending 08/2022. While expenses have increased by 4.2% per year over the past 3 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE ORGANIZATION HOLDS THE TITLE AND PROVIDES THE DAY-TO-DAY FINANCIAL MANAGEMENT OF THE HOUSE AND PROPERTY LOCATED AT 406 N. PLEASANT STREET, AMHERST, MA 01002. THE HOUSE PROVIDES A RESIDENCE TO MEMBERS OF THE SOCIAL SORORITY IOTA GAMMA UPSILON, WHICH IS ASSOCIATED WITH THE UNIVERSITY OF MASSACHUSETTS IN AMHERST, MA. OFFICERS AND DIRECTORS OF THE CORPORATION ARE ALL ALUMNAE OF THIS SORORITY, WHICH IS LOCATED ONLY AT UMASS/AMHERST.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE HOUSE FOR WHICH THE CORPORATION HOLDS TITLE IS MORE THAN 70 YEARS OLD AND REQUIRES CONSTANT MAINTENANCE TO ENSURE THAT THE PROPERTY IS CLEAN, SAFE AND SECURE. THE HOUSE ALSO PROVIDES AN ATMOSPHERE CONDUCIVE TO STUDYING, AS IT IS THE RESIDENCE OF APPROXIMATELY 30 COLLEGE WOMEN, WHO ARE ALL MEMBERS OF THE LOCAL SOCIAL SORORITY IOTA GAMMA UPSILON.
IN KEEPING WITH THE MISSION OF FINANCIAL RESPONSIBILITY, THE CORPORATION PAYS THE REAL ESTATE TAXES ON THE HOUSE AND PROPERTY LOCATED AT 406 N. PLEASANT STREET, AMHERST, MA. THESE ARE PAID QUARTERLY WITH THE FUNDS CONTRIBUTED BY THE RESIDENT SORORITY MEMBERS.
ALL OTHER HOUSEHOLD BILLS RELATING TO THE MANAGEMENT OF THE HOUSE AND PROPERTY (E.G. ELECTRIC, GAS , WATER/SEWER, TRASH REMOVAL AND RECYCLING, FIRE AND SMOKE DETECTION, LAWN MOWING, PEST CONTROL) WERE PAID WITH THE REMAINING BALANCE OF PROGRAM SERVICE FUNDS.
OCCASIONALLY MAJOR IMPROVEMENTS MUST ME MADE TO THE HOUSE OR PROPERTY FOR WHICH THE CORPORATION HOLDS TITLE.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Taylor Orton Clerk/direct | OfficerTrustee | 10 | $0 |
Danielle Polcer President | OfficerTrustee | 10 | $0 |
Stefanie Youssef Treasurer/di | OfficerTrustee | 10 | $0 |
Nicole Campana Director Of | Trustee | 10 | $0 |
Cristin Holland Director/cle | Trustee | 10 | $0 |
Marleen Paquette Director | 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 | $19,082 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,082 |
| Total Program Service Revenue | $97,399 |
| Investment income | $0 |
| 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 | $116,481 |
| 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 | $485 |
| 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 | $736 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $120,473 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $4,619 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $6,108 |
| Total functional expenses | $132,421 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $91,696 |
| Savings and temporary cash investments | $4,501 |
| 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 | $487,635 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $583,832 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $1,100 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $92,539 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $93,639 |
| 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 | $490,193 |
| Total liabilities and net assets/fund balances | $583,832 |
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