Phi Kappa Psi Fraternity

Organization Overview

Phi Kappa Psi Fraternity, operating under the name Minnesota Beta Chapter, is located in Minneapolis, MN. The organization was established in 1941. 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. Minnesota Beta Chapter 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, Minnesota Beta Chapter generated $369.2k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 6.7% each year. All expenses for the organization totaled $359.4k during the year ending 06/2023. While expenses have increased by 7.3% 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.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2023

Describe the Organization's Mission:

Part 3 - Line 1

SOCIAL CLUB-PROVIDING COLLEGIATE FRATERNITY SOCIAL, ENVIRONMENT AND ACTIVITIES

Describe the Organization's Program Activity:

Part 3 - Line 4a

MEMBERSHIP CONSISTED OF 97 MALE UNDERGRADUATE STUDENTS ATTENDING THE UNIVERSITY OF MINNESOTA. HOUSING IS PROVIDED FOR UP TO 28 OF THESE MEMBERS FROM AUGUST 2022 TO MAY 2023. CATERED MEALS WERE PROVIDED TO LIVE-IN MEMBERS OF THE FRATERNITY.


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Board, Officers & Key Employees

Name (title)Compensation
Zachary Peterson
President
$0
Owen Shane
Vice-President
$0
Ben Bagby
Treasurer
$0
De'marco Walton
Corresponding Secretary
$0
Ethan Ruggles
Responding Secretary
$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$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$0
Total Program Service Revenue$367,025
Investment income $203
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $1,175
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $369,244

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