Chi Phi Fraternity Inc
- Assets
- $1.3m
- Revenue
- $28.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Providence, RI
- Founding
- 05/1972
- Data as of
- 12/2022
- EIN
- 05-0423705
Organization Overview
Chi Phi Fraternity Inc is located in Providence, RI. The organization was established in 1972. 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 Phi Fraternity Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Chi Phi Fraternity Inc generated $28.8k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 5 years, the organization has seen revenues fall by an average of (47.0%) each year. All expenses for the organization totaled $22.0 during the year ending 12/2022. As we would expect to see with falling revenues, expenses have declined by (74.6%) per year over the past 5 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FRATERNITY HOUSE FOR THE BENEFIT OF THE UNDERGRADUATE MEMBERS OF THE CHI PHI FRATERNITY AT THE UNIVERSITY OF RHODE ISLAND
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDING A COLLEGE FRATERNITY HOUSE ON THE CAMPUS OF URI. THE CHI PHI FRATERNITY OF URI WAS SUSPENDED FROM CAMPUS AT THE END OF 2015. DURING THE TIME OF THE SUSPENSION THE CHI PHI HOLDING CORPORATION OF RHODE ISLAND, INC. RENTED THE FRATERNITY HOUSE TO STUDENTS ATTENDING URI THAT ARE MEMBERS OF THE KAPPA DELTA SORORITY. THE CHI PHI HOLDING CORPORATION OF RHODE ISLAND SOLD THE FRATERNITY HOUSE TO THE HOLDING CORPORATION OF KAPPA DELTA SORORITY (THETA THETA HOUSING LLC) ON MAY 10, 2018. THE PROCEEDS FROM THE SALE ARE INVESTED FOR FUTURE USE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Douglas Bennet Treasurer | Officer | $0 | |
Kevin Barry President | Officer | $0 | |
William Bromberg Vice Preside | Officer | $0 | |
Mario Gutierrez Secretary | Officer | $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 | $10,026 |
| Investment income | $18,724 |
| 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 | $28,750 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $22 |
| 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 | $22 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $22,639 |
| Savings and temporary cash investments | $1,266,269 |
| 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 | $1,288,908 |
| 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 | $1,288,908 |
| 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 | $1,288,908 |