Chi Psi Fraternity
- Assets
- $124.5k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, VA
- Founding
- 05/1947
- Data as of
- 08/2023
- EIN
- 54-0214207
Organization Overview
Chi Psi Fraternity is located in Lexington, VA. 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 08/2023, Chi Psi Fraternity generated $197.2k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 8.9% each year. All expenses for the organization totaled $211.2k during the year ending 08/2023. While expenses have increased by 12.4% per year over the past 7 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
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
COLLEGE FRATERNITY CHAPTER PROVIDING SOCIAL EVENTS, AND RELATED SERVICES TO LOCAL MEMBERSHIP OF A NATIONAL FRATERNAL ORGANIZATION ON THE CAMPUS OF AN EDUCATIONAL INSTITUTION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Will Mitchell Treasurer | 10 | $0 | |
Sam Dugen President | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Membership dues | $197,227 |
| Investment income | $0 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $197,227 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $0 |
| Professional fees and other payments to independent contractors | $0 |
| Occupancy, rent, utilities, and maintenance | $5,630 |
| Printing, publications, postage, and shipping | $2,043 |
| Other expenses | $203,536 |
| Total expenses | $211,209 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $93,288 |
| Other assets | $0 |
| Total assets | $124,537 |
| Total liabilities | $0 |
| Net assets or fund balances | $124,537 |