Lambda Corporation
- Assets
- $3.0m
- Revenue
- $139.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Creve Coeur, MO
- Founding
- 04/1972
- Data as of
- 06/2023
- EIN
- 23-7129434
Organization Overview
Lambda Corporation is located in Creve Coeur, MO. 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. As of 06/2023, Lambda Corporation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Lambda Corporation is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2023, Lambda Corporation generated $139.3k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (33.4%) each year. All expenses for the organization totaled $165.0k during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
LAMBDA CORPORATION OWNS AND MAINTAINS A FRATERNITY HOUSE, PHI GAMMA DELTA, AT DEPAUW UNIVERSITY TO SUPPORT THE EDUCATIONAL PURSUITS OF OUR YOUTH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OWNS AND MAINTAINS A FRATERNITY HOUSE PHI GAMMA DELTA AT DEPAUW UNIVERSITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Doug Mitchell President | OfficerTrustee | 40 | $0 |
Russell Lamore Treasurer | OfficerTrustee | 5 | $0 |
Timothy Zaletel Secretary | OfficerTrustee | 2 | $0 |
George Lortz Director | OfficerTrustee | 5 | $0 |
James Moore Director | OfficerTrustee | 2 | $0 |
Peter Fellegy Director | OfficerTrustee | 1 | $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 | $45,460 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $45,460 |
| Total Program Service Revenue | $57,196 |
| Investment income | $746 |
| 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 | $139,327 |
| 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 | $28,539 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,110 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $178 |
| Fees for services: Accounting | $1,404 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $374 |
| 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 | $66,189 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $16,482 |
| All other expenses | $998 |
| Total functional expenses | $164,950 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $220,084 |
| 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 | $0 |
| Net Land, buildings, and equipment | $2,766,962 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,987,046 |
| 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 | $1,082,397 |
| Unsecured mortgages and notes payable | $72,300 |
| Other liabilities | $0 |
| Total liabilities | $1,154,697 |
| 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 | $1,832,349 |
| Total liabilities and net assets/fund balances | $2,987,046 |