Triangle Fraternity National Council
- Assets
- $2.1k
- Revenue
- $402.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Mt Prospect, IL
- Founding
- 11/1966
- Data as of
- 06/2022
- EIN
- 37-0662261
Organization Overview
Triangle Fraternity National Council, operating under the name Illinois Triangle Alumni Corporation, is located in Mt Prospect, IL. The organization was established in 1966. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Illinois Triangle Alumni Corporation is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2022, Illinois Triangle Alumni Corporation generated $402.9k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 57.6% each year . All expenses for the organization totaled $597.2k during the year ending 06/2022. While expenses have increased by 58.3% 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
WE DO BUSINESS AS ILLINOIS TRIANGLE ALUMNI CORPORATION "ITAC". A COLLEGE FRATERNITY ALUMNI ASSOCIATION A SOCIAL CLUB FOR UNIVERSITY OF ILLINOIS ALUMNI. TRIANGLE OWNED HOUSE FOR STUDENTS TO LIVE IN AND HOST ALUMNI GATHERINGS FOR SUCH OCCASIONS AS HOMECOMING AND FOUNDER'S DAY; IN JULY 2021 OWNERSHIP OF THIS HOUSE WAS TRANSFERRED TO AN AFFILIATED ORGANIZATION TRIANGLE ILLINOIS HOUSE LLC "TIH" THAT'S PART OF THE FRATERNITY'S NATIONAL ORGANIZATION. THE ALUMNI ASSOCIATION STILL MANAGES IN CONJUNCTION WITH TIH AND TRIANGLE BUILDING & HOUSING CORPORATION "TBHC" THE HOUSE AND THE FRATERNITY'S UNDERGRADUATE STUDENTS' EDUCATIONAL AND SOCIAL PROGRAM SERVICES
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOSTING ALUMNI EVENTS I.E. HOMECOMING AND FOUNDERS' DAY WHICH GATHERED ALUMNI AND UNDERGRADUATE STUDENTS AT THE ILLINOIS CHAPTER TO DISCUSS OPERATING THE HOUSE AND RELATED EDUCATIONAL ACTIVITIES AND GOALS. THE CORPORATION WORKS CLOSELY WITH THE UNDERGRADUATE CHAPTER AND RELATED NATIONAL FRATERNITY ORGANIZATIONS SPECIFICALLY TRIANGLE EDUCATIONAL FOUNDATION TRIANGLE BUILDING AND HOUSING CORPORATION TRIANGLE HOUE LLC AND TRIANGLE FRATERNITY NATIONAL TO PROMOTE BROTHERHOOD AMONG UNDERGRADUATE STUDENTS AND ALUMNI AND ESPECIALLY TO FACILITATE THE EDUCATIONAL GOALS OF THE UNDERGRADUATES AS WELL.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Matthew N Frank President | OfficerTrustee | 5 | $0 |
Nathan H Davis Secretary | OfficerTrustee | 5 | $0 |
Vibhu Vanajari Director | Trustee | 5 | $0 |
Alex Perez Director | Trustee | 0 | $0 |
Andrew Lee Treasurer | OfficerTrustee | 0 | $0 |
William Laitar Director | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Investment income | $26,623 |
| 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 | $402,901 |
| Statement of Expenses | |
|---|---|
| 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 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 | $1,298 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $250 |
| All other expenses | $0 |
| Total functional expenses | $597,203 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $2,040 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $10 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,050 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $2,050 |