Theta Chi Fraternity Inc
- Assets
- $8.0m
- Revenue
- $4.0m
- Investments
- $0.0
- Employees
- 35
- Location
- Carmel, IN
- Founding
- 12/1940
- Data as of
- 06/2021
- EIN
- 21-0577978
Organization Overview
Theta Chi Fraternity Inc is located in Carmel, IN. The organization was established in 1940. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 06/2021, Theta Chi Fraternity Inc employed 35 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Theta Chi 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 06/2021, Theta Chi Fraternity Inc generated $4.0m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (0.6%) each year. All expenses for the organization totaled $4.5m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE PURPOSE OF THETA CHI FRATERNITY, INC., A NEW YORK CORPORATION (THE "CORPORATION"), SHALL BE TO ESTABLISH, MAINTAIN, GOVERN, IMPROVE AND PROMOTE THE WELFARE OF A FRATERNAL ORDER TO BE KNOWN AS "THETA CHI FRATERNITY" (THE "FRATERNITY"), WHICH SHALL HAVE FOR ITS OBJECTS: THE MUTUAL BENEFIT AND ASSISTANCE OF ITS MEMBERS; THE BINDING BY CLOSER BONDS OF ITS MEMBERS ONE TO ANOTHER; THE RENDITION OF MUTUAL ASSISTANCE TO ITS MEMBERS DURING LIFE AND AFTER THEIR DEATH TO THEIR DEPENDENTS; THE ASSISTING OF NEEDY BUT DESERVING YOUNG MEN TO OBTAIN A HIGHER EDUCATION; THE FOSTERING OF HIGH SCHOLASTIC ACHIEVEMENT AMONG ITS MEMBERS; THE EXTENDING OF TRUE CHARITY TO THOSE WHO NEED SUCH ASSISTANCE; THE PROMOTING OF GOOD CITIZENSHIP; THE TRAINING AND THE DEVELOPING OF CIVIC LEADERS; AND, BY ALL MEANS WITHIN ITS POWER, THE INCULCATION AND THE EXTENSION THROUGHOUT THE LAND OF THE HIGHEST IDEALS OF HONOR, CHARITY, TOLERANCE, AND TRUE PATRIOTISM.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE INITIATIVE ACADEMY'S MAIN PURPOSE IS TO INSPIRE AND EQUIP THE NEXT GENERATION OF LEADERS IN THETA CHI. THIS EVENT IS UNLIKE ANY OTHER EVENT OFFERED BY THE FRATERNITY. THE INITIATIVE ACADEMY IS DESIGNED FOR THE UNIQUE NEEDS AND PERSPECTIVES OF OUR EMERGING LEADERS. MEN WHO ATTEND THE INITIATIVE ACADEMY WILL LEAVE CHANGED AND PREPARED FOR LEADERSHIP.THE INITIATIVE ACADEMY IS NOT SIMPLY EXPOSING MEN TO LEADERSHIP IDEAS. THIS IS AN OPPORTUNITY FOR MEN TO IMMERSE THEMSELVES IN THE EXPERIENCE OF LEADERSHIP. UNLIKE TRADITIONAL WORKSHOPS AND CONFERENCES WHERE PARTICIPANTS SIT PASSIVELY IN A LECTURE FORMAT, THE INITIATIVE ACADEMY WILL ENGAGE PARTICIPANTS IN SEVERAL CHALLENGING, TEAM-ORIENTED EXERCISES THAT WILL PROVIDE THE BACKDROP FOR TREMENDOUS LEARNING AND GROWTH.
DERANIAN PRESIDENTS CONFERENCE: EDUCATION LEADERSHIP CONFERENCE PROVIDING KEYNOTE SPEAKERS, BREAKOUT EDUCATIONAL SESSIONS, AND HUMAN DEVELOPMENT. IT IS A 2 DAY EVENT AND INCLUDES LEADERSHIP DEVELOPMENT, RISK MANANGEMENT, AND MANAGEMENT SKILLS.
MID-YEAR LEADERSHIP CONFERENCE: EDUCATION LEADERSHIP CONFERENCE PROVIDING KEYNOTE SPEAKERS, BREAKOUT EDUCATIONAL SESSIONS, AND HUMAN DEVELOPMENT. IT IS A 2 DAY EVENT AND INCLUDES LEADERSHIP DEVELOPMENT, RISK MANANGEMENT, AND MANAGEMENT SKILLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Mayer Executive Director | Officer | 65 | $195,000 |
Jim Powell Associate Exec. Dir. | Officer | 50 | $152,000 |
Darick H Brown International President | OfficerTrustee | 4 | $0 |
Creig L Andreasen International Vice Preside | OfficerTrustee | 4 | $0 |
Herbert W Morgan III International Treasurer | OfficerTrustee | 2 | $0 |
Chad R Strelow International Secretary | OfficerTrustee | 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 | $95,384 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $95,384 |
| Total Program Service Revenue | $3,696,809 |
| Investment income | $47,095 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $83,686 |
| Net Rental Income | $52,923 |
| Net Gain/Loss on Asset Sales | -$14,678 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$327 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,961,142 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $30,000 |
| 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. | $408,496 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,421,742 |
| Pension plan accruals and contributions | $33,909 |
| Other employee benefits | $136,507 |
| Payroll taxes | $135,575 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $77,062 |
| Fees for services: Accounting | $21,795 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $445 |
| Fees for services: Other | $38,431 |
| Advertising and promotion | $0 |
| Office expenses | $67,618 |
| Information technology | $129,209 |
| Royalties | $0 |
| Occupancy | $112,877 |
| Travel | $14,699 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $80,200 |
| Interest | $56,864 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $72,944 |
| Insurance | $1,192,177 |
| All other expenses | $216,245 |
| Total functional expenses | $4,508,192 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,939,618 |
| Savings and temporary cash investments | $247,617 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $212,035 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $73,972 |
| Prepaid expenses and deferred charges | $459,294 |
| Net Land, buildings, and equipment | $2,422,321 |
| Investments—publicly traded securities | $2,154,372 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $469,256 |
| Total assets | $7,978,485 |
| Accounts payable and accrued expenses | $557,873 |
| Grants payable | $0 |
| Deferred revenue | $747,561 |
| 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 | $969,346 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $150,270 |
| Total liabilities | $2,425,050 |
| Net assets without donor restrictions | $5,553,435 |
| 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 | $7,978,485 |
Grants Awarded
Over the last fiscal year, Theta Chi Fraternity Inc has awarded $105,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: DEFEND THE FRATERNAL EXPERIENCE | $75,000 |
Carmel, IN PURPOSE: THE RATTLE PUBLICATION | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Theta Chi Fraternity Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Norwich Housing Corporation Carmel, IN PURPOSE: GENERAL ASSISTANCE | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Union League Club Of Chicago Chicago, IL | $26,749,429 | $20,158,030 |
Missouri Athletic Club St Louis, MO | $22,640,194 | $18,091,674 |
Alpha Chi Omega Fraternity Inc Indianapolis, IN | $29,119,055 | $16,507,869 |
Butterfield Country Club Oak Brook, IL | $37,524,568 | $14,281,799 |
University Club Of Chicago Chicago, IL | $40,558,650 | $14,990,991 |
Bellerive Country Club Saint Louis, MO | $30,118,733 | $15,442,843 |
Alpha Chi Omega National Housing Corporation Indianapolis, IN | $68,106,791 | $16,027,721 |
National Association Of Intercollegiate Athletics Kansas City, MO | $12,204,653 | $13,287,204 |
Big Spring Country Club Inc Louisville, KY | $27,849,226 | $12,028,840 |
Westmoreland Country Club Wilmette, IL | $31,536,434 | $12,960,463 |
St Louis Country Club Saint Louis, MO | $23,333,122 | $12,315,220 |
Skokie Country Club Glencoe, IL | $25,480,990 | $12,823,319 |