Chi Psi Fraternity

Organization Overview

Chi Psi Fraternity is located in Minneapolis, MN. The organization was established in 1947. 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. Chi Psi Fraternity is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.

For the year ending 07/2023, Chi Psi Fraternity generated $372.5k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $398.8k during the year ending 07/2023. While expenses have increased by 5.3% 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 AT UNIVERSITY OF MN PROVIDING COLLEGIATE FRATERNITY HOUSING, ACTIVITIES AND ENVIRONMENT

Describe the Organization's Program Activity:

Part 3 - Line 4a

MEMBERSHIP WAS 59 MALE UNDERGRADUATE STUDENTS ATTENDING THE UNIVERSITY OF MINNESOTA HOUSING IS PROVIDED FOR UP TO 40 OF THESE MEN BOTH DURING THE ACADEMIC YEAR AND SUMMER MONTHS A FULL TIME CHEF IS EMPLOYED AND PREPARES MEALS FOR ALL MEMBERS OF THE FRATERNITY.


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Board, Officers & Key Employees

Name (title)Compensation
Max Sonstegard
President
$0
Charles Snelson
Internal VP
$0
Sam Empson
External VP
$0
Zachary Hansen
Treasurer
$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$126
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$126
Total Program Service Revenue$371,495
Investment income $387
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $0
Net Gain/Loss on Asset Sales $0
Net Income from Fundraising Events $369
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $372,505

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