Alpha Gamma Rho Fraternity
- Assets
- $2.7m
- Revenue
- $210.4k
- Investments
- $0.0
- Employees
- 0
- Location
- State College, PA
- Founding
- 03/1941
- Data as of
- 12/2022
- EIN
- 24-6023906
Organization Overview
Alpha Gamma Rho Fraternity is located in State College, PA. The organization was established in 1941. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Alpha Gamma Rho Fraternity 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, Alpha Gamma Rho Fraternity generated $210.4k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.0% each year. All expenses for the organization totaled $196.4k during the year ending 12/2022. While expenses have increased by 0.8% per year over the past 4 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
TO MAKE BETTER MEN, AND THROUGH THEM A BROADER BETTER AGRICULTURE, BY SURROUNDING OUR MEMBERS WITH INFLUENCES TENDING TO ENCOURAGE INDIVIDUAL ENDEAVOR, RESOURCEFULNESS, AND SOCIAL, MORAL, AND PHYSICAL DEVELOPMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED - 30 MEMBERS WITH HOUSING, EDUCATIONAL SPACE, AND AGRICULTURAL EDUCATION, WHILE ATTENDING PENN STATE UNIVERSITY REVENUES INCLUDE ALUMNI DONATIONS, RENT, AND INVESTMENT INCOME. EXPENSES INCLUDE MORTGAGE, TAXES, INSURANCE, PROPERTY MAINTENANCE, DEPRECIATION, PRINTING,/MAILING, AND EDUCATIONAL CONVENTION COSTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John Merenick President | Officer | $0 | |
Jesse Hallowell Vice-President | Officer | $0 | |
Jon Schroer Treasurer | Officer | $0 | |
Jay Van Duesen Secretary | Officer | $0 | |
Todd Grice Director | Trustee | $0 | |
Ted Farrand Director | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $9,147 |
| 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 | $9,147 |
| Total Program Service Revenue | $200,000 |
| Investment income | $1,210 |
| 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 | $210,357 |
| 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 | $11,802 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $2,144 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $50,851 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $5,654 |
| Interest | $32,264 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,232 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $196,360 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $150,462 |
| Savings and temporary cash investments | $207,331 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $20,000 |
| 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 | $2,359,792 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,737,585 |
| 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 | $837,309 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $837,309 |
| 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 | $1,900,276 |
| Total liabilities and net assets/fund balances | $2,737,585 |