Lambda House Inc
- Assets
- $1.0m
- Revenue
- $320.4k
- Investments
- $0.0
- Employees
- 1
- Location
- Angola, IN
- Founding
- 05/1979
- Data as of
- 05/2024
- EIN
- 31-0950016
Organization Overview
Lambda House Inc is located in Angola, IN. The organization was established in 1979. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Lambda House Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 05/2024, Lambda House Inc generated $320.4k in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 5.3% each year. All expenses for the organization totaled $221.9k during the year ending 05/2024. While expenses have increased by 5.5% per year over the past 9 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE AND ENCOURAGE ACTIVITIES OF THE INDIANA THETA CHAPTER OF SIGMA PHI EPSILON FRATERNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LAMDBA HOUSE IS THE ALUMNI GROUP OF THE INDIANA THETA CHAPTER OF SIGMA PHI EPSILON. LAMBDA HOUSE OWNS, OPERATED, AND MAINTAINED THE CHAPTER HOUSE AT TRINE UNIVERSITY THAT PROVIDES THE MEMBERS WITH STUDENT HOUSING THAT FURTHERED THE SOCIAL, RECREATIONAL AND FRATERNAL ACTIVITIES OF THE STUDENT MEMBERS.
THE ORGANIZATION ENGAGED THE ALUMNUS OF THE INDIANA THETA CHAPTER OF SIGMA PHI EPSILON FRATERNITY TO COLLECT AND PRESERVE THE FRATERNITYS RECORDS AND RELICS AND PROMOTED THE EDUCATIONAL AND PERSONAL ENRICHMENT OF THE STUDENTS INVOLVMENT IN THE FRATERNAL ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Greg Dragoo Member At Large | Trustee | 5 | $0 |
Thomas Schlachter Member At Large | Trustee | 5 | $0 |
Ross Kirkton Treasurer | Officer | 5 | $0 |
Jim Stump President | Officer | 10 | $0 |
Rick Hoover Vice President | Officer | 10 | $0 |
Dave Gross Secretary | Officer | 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 | $19,864 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $19,864 |
| Total Program Service Revenue | $296,756 |
| Investment income | $3,779 |
| 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 | $320,399 |
| 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 | $16,852 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $1,439 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $405 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $10,104 |
| Advertising and promotion | $0 |
| Office expenses | $1,882 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $57,926 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $50 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $34,092 |
| Insurance | $186 |
| All other expenses | $98,931 |
| Total functional expenses | $221,867 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $14,569 |
| Savings and temporary cash investments | $120,503 |
| 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 | $875,572 |
| Investments—publicly traded securities | $2,512 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $1,640 |
| Other assets | $0 |
| Total assets | $1,014,796 |
| Accounts payable and accrued expenses | $784 |
| 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 | $418,659 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $419,443 |
| 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 | $595,353 |
| Total liabilities and net assets/fund balances | $1,014,796 |