Phi Mu Fraternity
- Assets
- $7.7m
- Revenue
- $1.1m
- Investments
- $0.0
- Employees
- 11
- Location
- Oxford, MS
- Founding
- 12/1944
- Data as of
- 12/2023
- EIN
- 64-0307103
Organization Overview
Phi Mu Fraternity is located in Oxford, MS. The organization was established in 1944. 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 12/2023, Phi Mu Fraternity employed 11 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Phi Mu Fraternity is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Phi Mu Fraternity generated $1.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 9 years, the organization has seen revenues fall by an average of (7.5%) each year. All expenses for the organization totaled $1.8m during the year ending 12/2023. 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
THE LIFETIME DEVELOPMENT OF WOMEN THROUGH THE SUPPORT OF PHI MU'S LEADERSHIP, SCHOLARSHIP, PHILANTHROPIC, AND EDUCATIONAL PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING AND MEALS TO FRATERNITY MEMBERS AT THE UNIVERSITY OF MISSISSIPPI
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Laura Jones Treasurer | Trustee | 1 | $0 |
Ann Devoe Director | Trustee | 1 | $0 |
Lisa Ivy Secretary | Trustee | 1 | $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 | $1,047,900 |
| Investment income | $44,041 |
| 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 | $1,091,941 |
| 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 | $278,172 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $27,189 |
| Payroll taxes | $27,477 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,691 |
| Fees for services: Accounting | $48,011 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $2,871 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,200 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $69,137 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $509,303 |
| Insurance | $11,082 |
| All other expenses | $195,666 |
| Total functional expenses | $1,840,007 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $337,087 |
| Savings and temporary cash investments | $86,850 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $40,720 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $2,500 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $6,787,759 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $428,527 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,683,443 |
| Accounts payable and accrued expenses | $10,961 |
| Grants payable | $0 |
| Deferred revenue | $45,484 |
| 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 | $3,375,493 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,431,938 |
| Net assets without donor restrictions | $4,251,505 |
| 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 | $7,683,443 |