Phi Mu House Corporation is located in Tuscaloosa, AL. The organization was established in 1985. 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 an independent organization and not affiliated with a larger national or regional group of organizations. Phi Mu House Corporation 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, Phi Mu House Corporation generated $3.9m in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (2.1%) each year. All expenses for the organization totaled $2.7m during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.8%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE MEALS AND HOUSING FOR UNDERGRADUATE CHAPTER OF NATIONAL COLLEGIATE SOCIAL SORORITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
HOUSE MANAGEMENT-PROVIDED MEALS AND HOUSING FOR MEMBERS OF UNDERGRADUATE CHAPTER OF NATIONAL COLLEGIATE SOCIAL FRATERNITY.
PROVIDE MEALS AND HOUSING FOR UNDERGRADUATE CHAPTER OF NATIONAL COLLEGIATE SOCIAL FRATERNITY.
Name (title) | Role | Hours | Compensation |
---|---|---|---|
Lucy Arnold-Sikes Alumnae Dire | Trustee | $0 | |
Jan Brakefield Alumnae Dire | Trustee | $0 | |
Lori Colburn Alumnae Dire | Trustee | $0 | |
Melanie Spruiell Alumnae Dire | Trustee | $0 | |
Mary Young Alumnae Dire | Trustee | $0 | |
Pat Howard President | Officer | $0 |
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 | $757,280 |
Noncash contributions included in lines 1a–1f | $0 |
Total Revenue from Contributions, Gifts, Grants & Similar | $757,280 |
Total Program Service Revenue | $3,175,440 |
Investment income | $9,765 |
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 | $3,942,485 |
Statement of Expenses | |
---|---|
Grants and other assistance to domestic organizations and domestic governments. | $750,000 |
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 | $61,707 |
Pension plan accruals and contributions | $0 |
Other employee benefits | $20,919 |
Payroll taxes | $0 |
Fees for services: Management | $0 |
Fees for services: Legal | $500 |
Fees for services: Accounting | $81,468 |
Fees for services: Lobbying | $0 |
Fees for services: Fundraising | $0 |
Fees for services: Investment Management | $2,110 |
Fees for services: Other | $0 |
Advertising and promotion | $0 |
Office expenses | $2,406 |
Information technology | $0 |
Royalties | $0 |
Occupancy | $514,016 |
Travel | $0 |
Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
Conferences, conventions, and meetings | $0 |
Interest | $0 |
Payments to affiliates | $0 |
Depreciation, depletion, and amortization | $494,028 |
Insurance | $0 |
All other expenses | $23,079 |
Total functional expenses | $2,749,068 |
Balance Sheet | |
---|---|
Cash—non-interest-bearing | $0 |
Savings and temporary cash investments | $7,149,027 |
Pledges and grants receivable | $0 |
Accounts receivable, net | $1,198,176 |
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 | $5,931 |
Net Land, buildings, and equipment | $11,944,766 |
Investments—publicly traded securities | $0 |
Investments—other securities | $0 |
Investments—program-related | $0 |
Intangible assets | $0 |
Other assets | $0 |
Total assets | $20,297,900 |
Accounts payable and accrued expenses | $782,153 |
Grants payable | $0 |
Deferred revenue | $1,395,000 |
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 | $1,992,760 |
Unsecured mortgages and notes payable | $0 |
Other liabilities | $0 |
Total liabilities | $4,169,913 |
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 |
Retained earnings, endowment, accumulated income, or other funds | $16,127,987 |
Total liabilities and net assets/fund balances | $20,297,900 |