Pi Kappa Phi Properties Inc
- Assets
- $36.2m
- Revenue
- $10.7m
- Investments
- $0.0
- Employees
- 7
- Location
- Charlotte, NC
- Founding
- 04/1993
- Data as of
- 06/2022
- EIN
- 59-6216310
Organization Overview
Pi Kappa Phi Properties Inc is located in Charlotte, NC. The organization was established in 1993. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, under the broad grouping of Education and related organizations. As of 06/2022, Pi Kappa Phi Properties Inc employed 7 individuals. This organization is the central organization for a national or regional group of organizations. Pi Kappa Phi Properties Inc 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, Pi Kappa Phi Properties Inc generated $10.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 13.9% each year . All expenses for the organization totaled $8.9m during the year ending 06/2022. While expenses have increased by 11.9% 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
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PI KAPPA PHI PROPERTIES, INC IS ORGANIZED FOR PLEASURE, RECREATION AND OTHER NON-PROFIT PURPOSES. SPECIFICALLY, PI KAPPA PHI PROPERTIES, INC.'S PURPOSE IS TO PROVIDE HOUSING AND MANAGEMENT EXPERTISE FOR LOCAL CHAPTERS OF PI KAPPA PHI FRATERNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE HOUSING ASSISTANCE TO APPROXIMATELY 10,000 MEMBERS AT 180 CHAPTERS ACROSS THE COUNTRY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark E Timmes CEO | Officer | 1 | $196,199 |
Anthony M Noce Chairman | OfficerTrustee | 0 | $0 |
Benjamin B Bush Vice Chairman-Acquisition | OfficerTrustee | 0 | $0 |
Nicholas J Linder Treasurer | OfficerTrustee | 0 | $0 |
Walter T Wahlfeldt Secretary | OfficerTrustee | 0 | $0 |
I Timothy Hancock Member | OfficerTrustee | 0 | $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 | $7,918,655 |
| Investment income | $27,881 |
| 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 | $10,688,194 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,169,493 |
| Pension plan accruals and contributions | $11,873 |
| Other employee benefits | $30,472 |
| Payroll taxes | $27,797 |
| Fees for services: Management | $318,089 |
| Fees for services: Legal | $13,488 |
| Fees for services: Accounting | $76,169 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $127,844 |
| Advertising and promotion | $975 |
| Office expenses | $13,711 |
| Information technology | $39,601 |
| Royalties | $0 |
| Occupancy | $16,328 |
| Travel | $29,056 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $875,292 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,430,968 |
| Insurance | $160,070 |
| All other expenses | $715,285 |
| Total functional expenses | $8,917,165 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,550,058 |
| Savings and temporary cash investments | $6,620 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $293,690 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,227,745 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $133,961 |
| Net Land, buildings, and equipment | $30,704,851 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,240,959 |
| Total assets | $36,157,884 |
| Accounts payable and accrued expenses | $183,348 |
| Grants payable | $0 |
| Deferred revenue | $95,173 |
| 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 | $22,257,604 |
| Unsecured mortgages and notes payable | $2,243,074 |
| Other liabilities | $2,895,673 |
| Total liabilities | $27,674,872 |
| Net assets without donor restrictions | $8,483,012 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $36,157,884 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pi Kappa Phi Properties Inc Charlotte, NC | $36,157,884 | $10,688,194 |
Sigma Phi Epsilon Fraternity Inc Richmond, VA | $54,140,029 | $10,282,777 |
Alpha Omicron Pi Fraternity Inc Brentwood, TN | $57,425,535 | $8,065,959 |
Omega Psi Phi Fraternity Decatur, GA | $10,119,312 | $8,150,669 |
Nautilus Management Inc Memphis, TN | $16,834,211 | $2,172,564 |
The Tau Beta Pi Association Inc Knoxville, TN | $43,758,884 | $4,633,459 |
Sigma Nu Educational Foundation Inc Lexington, VA | $16,834,611 | $2,302,992 |
Pi Kappa Phi Foundation Charlotte, NC | $14,162,556 | $2,105,535 |
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 |
Phi Mu Foundation Peachtree City, GA | $11,103,093 | $1,619,138 |
Alpha Gamma Delta Fraternity Athens, GA | $135,188 | $1,394,894 |