Omega Psi Phi Fraternity
- Assets
- $68.7k
- Revenue
- $109.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Clinton, MD
- Founding
- 01/1953
- Data as of
- 10/2020
- EIN
- 52-1754383
Organization Overview
Omega Psi Phi Fraternity is located in Clinton, MD. The organization was established in 1953. 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. Omega Psi Phi Fraternity is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 10/2020, Omega Psi Phi Fraternity generated $109.3k 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 (6.7%) each year. All expenses for the organization totaled $89.1k during the year ending 10/2020. As we would expect to see with falling revenues, expenses have declined by (0.6%) 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE BROTHERHOOD FOR WHICH MEN OF SIMILAR IDEAS AND ASPIRATIONS CAN GROW AND SERVE THE LOCAL COMMUNITY AND ENRICH SOCIETY BY AIDING ALL HUMANITY IN ITS EFFORT TO ACHIEVE ECONOMIC AND INTELLECTUAL STATUS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDED THE FOLLOWINGTHANKSGIVING/CHRISTMAS PROGRAM AND NATIONAL ESSAY WRITING PROGRAM
FUNDED THE FOLLOWING TALENT HUNT PROGRAM, MANHOOD 101 PROGRAM, KIDS DAY PROGRAM AND ELECTION PROGRAM
FUNDED THE FOLLOWINGCHURCH/BEREAVEMENT PROGRAM AND HEALTH INIATIVES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Reginald Vance Basileus | Trustee | 20 | $0 |
Cedric Guyton Keeper Of Records And Seal | Trustee | 20 | $0 |
Timothy Worley Vice Basileus | Trustee | 20 | $0 |
Byron Ross Keeper Of Finance | Trustee | 20 | $0 |
Moses Whitehurst Chaplain | Trustee | 5 | $0 |
Donte Byrd Keeper Of Peace | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $107,925 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $1,345 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $109,270 |
| 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 | $0 |
| 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 | $2,867 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $89,087 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $54,553 |
| Savings and temporary cash investments | $14,182 |
| 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 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $68,735 |
| 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 | $68,735 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Sigma Phi Epsilon Fraternity Inc Richmond, VA | $54,140,029 | $10,282,777 |
Phi Beta Kappa Society Washington, DC | $4,794,114 | $5,810,818 |
Zeta Phi Beta Sorority Inc Washington, DC | $20,915,125 | $7,582,963 |
Phi Sigma Sigma National Housing Corporation Eldersburg, MD | $5,105,404 | $4,513,250 |
Phi Beta Sigma Fraternity Inc Washington, DC | $7,959,473 | $5,690,900 |
Delta Phi Epsilon Sorority Inc Philadelphia, PA | $2,908,015 | $2,233,543 |
Sigma Nu Educational Foundation Inc Lexington, VA | $16,834,611 | $2,302,992 |
Alpha Omega Clinic And Consultation Fairfax, VA | $317,274 | $1,917,356 |
Kappa Alpha Order Educational Foundation Lexington, VA | $13,471,837 | $4,116,886 |
Beta Alpha Chapter Of Chi Omega House Corp Wayne, PA | $1,129,031 | $303,939 |
Omicron Delta Kappa Society And Educational Foundation Inc Lexington, VA | $3,864,125 | $1,527,453 |
Phi Sigma Pi National Honor Fraternity Lancaster, PA | $2,938,187 | $1,733,075 |