Phi Kappa Tau Fraternity
- Assets
- $4.3m
- Revenue
- $1.4m
- Investments
- $0.0
- Employees
- 0
- Location
- Oxford, OH
- Founding
- 02/1941
- Data as of
- 06/2021
- EIN
- 31-0406478
Organization Overview
Phi Kappa Tau Fraternity is located in Oxford, OH. The organization was established in 1941. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. This organization is a parent organization of an affiliated group for tax-exemption purposes. Phi Kappa Tau Fraternity 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, Phi Kappa Tau Fraternity generated $1.4m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (7.3%) each year. All expenses for the organization totaled $1.3m during the year ending 06/2021. As we would expect to see with falling revenues, expenses have declined by (4.5%) per year over the past 6 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE RELIGIOUS, EDUCATIONAL, CULTURAL, SOCIAL & FRATERNAL WELFARE OF MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BMC PROGRAM - WEEKEND SEMINAR THAT PROVIDES BROTHERHOOD BUILDING, CHARACTER DEVELOPMENT, VALUES-BASED ACTION, VISION AND PRIORITY SETTING ASSISTANCE.
PROVIDE PROGRAMMING, EDUCATION, AND SUPPORT FOR MEMBERS TO ENHANCE THEIR INTELLECTUAL, CHARACTER AND LEADERSHIP SKILLS.
CHAPTER DEVELOPMENT - ORGANIZATIONAL AND EDUCATIONAL SUPPORT PROVIDED TO CHAPTER OFFICERS AND ADVISORS IN ORDER TO FOSTER A CULTURE OF SERVICE AND VALUES-BASED ACTION AND DECISION-MAKING.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
W Timothy Hudson CEO | OfficerTrustee | 60 | $63,000 |
William Brasch National President | OfficerTrustee | 10 | $0 |
Dale Holland National VP | Trustee | 10 | $0 |
Ricky Bailey National Councilor | Trustee | 5 | $0 |
Raymond Carlos National Councilor | Trustee | 5 | $0 |
Michael French National Councilor | Trustee | 5 | $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 | $35,000 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $35,000 |
| Total Program Service Revenue | $1,381,680 |
| Investment income | $10,004 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,718 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,428,402 |
| 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. | $63,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $257,947 |
| Pension plan accruals and contributions | $10,269 |
| Other employee benefits | $51,656 |
| Payroll taxes | $26,960 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $7,200 |
| Fees for services: Accounting | $33,079 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,127 |
| Fees for services: Other | $65,431 |
| Advertising and promotion | $0 |
| Office expenses | $9,211 |
| Information technology | $82,595 |
| Royalties | $0 |
| Occupancy | $18,340 |
| Travel | $1,636 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,075 |
| Interest | $11,173 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $7,571 |
| Insurance | $563,261 |
| All other expenses | $20,062 |
| Total functional expenses | $1,339,606 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $576,039 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $144,086 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $201,631 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $152,290 |
| Net Land, buildings, and equipment | $114,784 |
| Investments—publicly traded securities | $230,848 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,925,040 |
| Total assets | $4,344,718 |
| Accounts payable and accrued expenses | $76,506 |
| Grants payable | $0 |
| Deferred revenue | $201,050 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $513,477 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $324,208 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $60,550 |
| Total liabilities | $1,175,791 |
| Net assets without donor restrictions | $3,133,927 |
| Net assets with donor restrictions | $35,000 |
| 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 | $4,344,718 |
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