Civic Intelligence

Purdue Univ Phi Kappa Psi Association

990 • Fiscal year 2022 • EIN 23-7406388

Jun 01, 2021 to May 31, 2022 • Filed on Aug 11, 2023

Organization ProfileN/A
1533 Saranell AveNaperville, IL 60540

(260) 494-2592

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

78th percentile

0.52x

Higher debt load relative to assets than 78% of similar nonprofits.

2022 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

91st percentile

2.81x

Higher debt load relative to revenue than 91% of similar nonprofits.

2022 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2022

Net Margin

27th percentile

-1.8%

Higher net margin than 27% of similar nonprofits.

2022 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

78th percentile

$0

Higher top officer pay than 78% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2022 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2022

Asset Growth

22nd percentile

-3.4%

Faster asset growth than 22% of similar nonprofits.

2022 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

12th percentile

-12%

Faster revenue growth than 12% of similar nonprofits.

2022 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Balance Sheet
Liabilities / Assets78th percentile

Assets

Down

$3,004,964

Down $105,009 (-3.4%) from 2021

Net Assets

Down

$1,435,053

Down $10,276 (-0.7%) from 2021

Liabilities

Down

$1,569,911

Down $94,733 (-5.7%) from 2021

Revenue And Expenses
Liabilities / Revenue91st percentileNet Margin27th percentile

Revenue

Down

$558,930

Down $77,645 (-12%) from 2021

Expenses

Up

$569,206

Up $1,268 (+0.2%) from 2021

Net Income

Down

-$10,276

Down $78,913 (-115%) from 2021

Historical Trend

Balance Sheet Trend

Asset Growth22nd percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$4.0M$3.0M$2.0M$1.0M$0Assets 2010: $3,973,419Liabilities 2010: $3,505,587Net Assets 2010: $467,8322010Assets 2012: $3,797,063Liabilities 2012: $2,648,606Net Assets 2012: $1,148,4572012Assets 2013: $3,700,837Liabilities 2013: $2,741,161Net Assets 2013: $959,6762013Assets 2014: $3,620,430Liabilities 2014: $2,653,800Net Assets 2014: $966,6302014Assets 2015: $3,559,425Liabilities 2015: $2,609,484Net Assets 2015: $949,9412015Assets 2016: $3,483,664Liabilities 2016: $2,483,193Net Assets 2016: $1,000,4712016Assets 2017: $3,400,331Liabilities 2017: $2,344,892Net Assets 2017: $1,055,4392017Assets 2018: $3,368,752Liabilities 2018: $2,253,272Net Assets 2018: $1,115,4802018Assets 2019: $3,255,785Liabilities 2019: $1,786,482Net Assets 2019: $1,469,3032019Assets 2020: $3,156,472Liabilities 2020: $1,779,780Net Assets 2020: $1,376,6922020Assets 2021: $3,109,973Liabilities 2021: $1,664,644Net Assets 2021: $1,445,3292021Assets 2022: $3,004,964Liabilities 2022: $1,569,911Net Assets 2022: $1,435,0532022Assets 2023: $2,903,616Liabilities 2023: $1,482,377Net Assets 2023: $1,421,2392023Assets 2024: $2,776,470Liabilities 2024: $1,391,388Net Assets 2024: $1,385,0822024

Highlighted filing

2022

Assets$3,004,964
Liabilities$1,569,911
Net Assets$1,435,053
Open 2022 Filing

Operations Trend

Revenue Growth12th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.0M$500K$0-$500KExpenses 2010: $464,3562010Expenses 2012: $388,7372012Expenses 2013: $891,4102013Revenue 2014: $579,690Expenses 2014: $572,736Net Income 2014: $6,9542014Revenue 2015: $557,195Expenses 2015: $573,884Net Income 2015: -$16,6892015Revenue 2016: $625,124Expenses 2016: $574,594Net Income 2016: $50,5302016Revenue 2017: $686,453Expenses 2017: $631,485Net Income 2017: $54,9682017Revenue 2018: $613,325Expenses 2018: $553,284Net Income 2018: $60,0412018Revenue 2019: $828,707Expenses 2019: $474,884Net Income 2019: $353,8232019Revenue 2020: $449,968Expenses 2020: $542,579Net Income 2020: -$92,6112020Revenue 2021: $636,575Expenses 2021: $567,938Net Income 2021: $68,6372021Revenue 2022: $558,930Expenses 2022: $569,206Net Income 2022: -$10,2762022Revenue 2023: $561,561Expenses 2023: $575,375Net Income 2023: -$13,8142023Revenue 2024: $648,149Expenses 2024: $684,306Net Income 2024: -$36,1572024

Highlighted filing

2022

Revenue$558,930
Expenses$569,206
Net Income-$10,276
Open 2022 Filing
Jump To
Filing Snapshot
Filing Period
Jun 1, 2021 to May 31, 2022
Signed
Aug 11, 2023
Return Version
2021v4.2
Gross Receipts
$558,930
Mission and Program Overview

Mission

To provide college student housing

To provide college student housing.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$2,999,223$2,913,699▼ $85,524
Savings and Temporary Cash Investments$104,937$90,604▼ $14,333
Cash and Non-Interest-Bearing Accounts$5,813$661▼ $5,152
Total Assets$3,109,973$3,004,964▼ $105,009
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,653,974$1,569,911▼ $84,063
Unsecured Notes Loans Payable$10,670$0▼ $10,670
Total Liabilities$1,664,644$1,569,911▼ $94,733
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,445,329$1,435,053▼ $10,276
Total Net Assets Fund Balance$1,445,329$1,435,053▼ $10,276
Total Liabilities and Net Assets / Fund Balance$3,109,973$3,004,964▼ $105,009

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$2,151,244$1,136,422$3,287,666
Land$762,455-$762,455
Compensation and Service Providers
Top Officer Pay78th percentile

Board Members and Trustees

NameTitle
Andy DickPresident
Brian SchuttSecretary
Paul OblonTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$558,917
Investment Income
$13
Other Revenue
$0
Change in Net Assets
$-10,276
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$485,717
Salaries, Compensation, and Employee Benefits$78,418
Grants and Similar Amounts Paid$5,071
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy---$106,411
Depreciation Depletion---$85,524
Other Salaries and Wages---$72,928
Interest---$66,081
Insurance---$15,793
Fees for Services Other---$9,993
Other Expenses---$9,131
Fees for Services Accounting---$7,825
Payroll Taxes---$5,490
Grants to Domestic Orgs---$5,071
Total Functional Expenses$0$0$0$569,206
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Phi Kappa Psi - Indiana Delta ChapterNaperville, IL501(c)(7)To Support the Purdue University Chapter of Phi Kappa Psi$5,071
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section B, Line 11B

“Treasurer will review the 990 before filing.”

Form 990, Part VI, Section C, Line 19

“AVAILABLE UPON REQUEST.”

Filing and Contact Details

Filer

Filer Name
Purdue Univeristy Phi Kappa Psi
EIN
23-7406388
Phone
2604942592
Address
1533 SARANELL AVE, NAPERVILLE, IL 60540

Signing Officer

Name
Paul Oblon
Title
Secretary/treasurer
Phone
2604942592
Signed
2023-08-11
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Paul Oblon
Formed
1973
Legal Domicile
In
Voting Board Members
3
Independent Board Members
3
Employees
2
Volunteers
0

Preparer

Firm
Vonlehman & Company Inc
Address
5975 CASTLE CREEK PARKWAY N DR STE, 400, INDIANAPOLIS, IN 46250
Preparer
Michelle Siner
Phone
3174690169
Raw XML Appendix291 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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ReasonableCauseExplanation/ExplanationTxt0WE RESPECTFULLY REQUEST THAT ANY FAILURE-TO-FILE OR LATE FILING PENALTY FOR THE TAX YEAR ENDED MAY 31, 2022 BE ABATED BECAUSE, AS EXPLAINED BELOW, THE TAXPAYER HAS SATISFIED THE IRS'S REASONABLE CAUSE CRITERIA, AS DISCUSSED IN IRM 20.1.1.3.2. TAXPAYER MEETS PENALTY ABATEMENT CRITERIA:ACCORDING TO IRM 20.1.1.3.2, REASONABLE CAUSE, THE IRS PROVIDES RELIEF FROM A PENALTY BASED ON REASONABLE CAUSE WHEN THE TAXPAYER EXERCISED ORDINARY BUSINESS CARE AND PRUDENCE BUT WAS NEVERTHELESS UNABLE TO COMPLY WITH THOSE OBLIGATIONS. VARIOUS COURTS FOUND REASONABLE CAUSE SIMPLY TO BE THAT WHICH WOULD PROMPT AN ORDINARY INTELLIGENT PERSON TO ACT UNDER SIMILAR CIRCUMSTANCES AS THE TAXPAYER. THE TAXPAYER SATISFIES THE REASONABLE CAUSE CRITERIA BASED ON THE FOLLOWING FACTS: THE TAXPAYER IS A FRATERNITY ALUMNI ASSOCIATION OF A GREEK ORGANIZATION AND COMPRISED OF ALL VOLUNTEERS AND NO PAID EMPLOYEES. UP THROUGH MAY 31, 2021, THE TAXPAYER HAD FILED THEIR APPROPRIATE FORM 990 RETURNS. THE ACCOUNTANT THAT HAD BEEN FILING THE ORGANIZATION'S RETURNS ABRUPTLY WAS NO LONGER ABLE TO DO SO. AT THE SAME TIME, THERE WAS A CHANGE IN BOARD MEMBERSHIP. THESE TWO COMPOUNDING FACTORS RESULTED IN THE FILINGS BEING MISSED. THE TAXPAYER BECAME AWARE OF ITS NON-FILING ISSUE DURING 2023. THE TAXPAYER IMMEDIATELY HIRED ANOTHER ACCOUNTING FIRM TO ASSIST IN RECTIFYING THE SITUATION. WITH THE ASSISTANCE OF ITS OUTSIDE ACCOUNTING FIRM, THE TAXPAYER INTENDS TO TIMELY FILE ITS MAY 31, 2023 RETURN. IN ADDITION, THE TAXPAYER IS FILING BOTH THE MAY 31, 2021 AND MAY 31, 2022 FORM 990 RETURNS NOW AND AT THE SAME TIME. PRIOR TO THIS INCIDENT, THE TAXPAYER HAS HAD A GOOD HISTORY OF FILING ITS 990S AND PAYMENT COMPLIANCE. THE TAXPAYER ACTED LIKE ANY REASONABLE INDIVIDUAL UNDER A SIMILAR SITUATION. AS SOON AS IT WAS DISCOVERED, THE TAXPAYER NOTIFIED AN ACCOUNTING FIRM AND FILED ALL PAST DUE AND CURRENT RETURNS. FURTHERMORE, THE ESTIMATED AMOUNT OF PENALTY AND INTEREST THAT WOULD BE ASSESSED IF REASONABLE CAUSE IS NOT GRANTED WOULD BE SUCH A FINANCIAL DETRIMENT THAT IT WOULD INORDINATELY HARM THE ORGANIZATION'S ABILITY TO FUNCTION AND OPERATE. THE TAXPAYER WOULD SUFFER UNDUE HARDSHIP. THE TAXPAYER IS COMPRISED OF ALL VOLUNTEERS. A PENALTY TO BE ASSESSED WOULD CAUSE UNDUE HARDSHIP TO THE TAXPAYER. THE TAXPAYER RESPECTFULLY REQUESTS THAT THE IRS GRANTS ABATEMENT OF PENALTIES AND INTEREST DUE TO REASONABLE CAUSE FOR THE LATE FILING OF ITS MAY 31, 2021 AND 2022 FORM 990 RETURNS. THE TAXPAYER UNDERSTANDS THAT THIS TYPE OF PENALTY ABATEMENT IS BASED ON THE DISCRETION OF THE IRS AND APPRECIATES YOUR CONSIDERATION OF OUR REQUEST. WE HOPE THAT THE IRS WILL UNDERSTAND THAT THIS IS A ONE-TIME MISUNDERSTANDING AND THAT APPROPRIATE STEPS HAVE BEEN TAKEN TO ENSURE COMPLIANCE IN THE FUTURE.
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ReturnHeader/TaxPeriodEndDt02022-05-31
ReturnHeader/TaxYr02021

Document Assets

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Filings

Displayed year

2022 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$3,004,964
Liabilities
$1,569,911
Net assets
$1,435,053
Revenue
$558,930
Expenses
$569,206
Net income
-$10,276
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$2.78$1.39$1.39$0.65$0.68$0.04
2023Detailed filing. Detailed filing data is available for this year.$2.90$1.48$1.42$0.56$0.58$0.01
2022Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.00$1.57$1.44$0.56$0.57$0.01
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.11$1.66$1.45$0.64$0.57$0.07
2020Detailed filing. Detailed filing data is available for this year.$3.16$1.78$1.38$0.45$0.54$0.09
2019Detailed filing. Detailed filing data is available for this year.$3.26$1.79$1.47$0.83$0.47$0.35
2018Detailed filing. Detailed filing data is available for this year.$3.37$2.25$1.12$0.61$0.55$0.06
2017Detailed filing. Detailed filing data is available for this year.$3.40$2.34$1.06$0.69$0.63$0.05
2016Detailed filing. Detailed filing data is available for this year.$3.48$2.48$1.00$0.63$0.57$0.05
2015Detailed filing. Detailed filing data is available for this year.$3.56$2.61$0.95$0.56$0.57$0.02
2014Detailed filing. Detailed filing data is available for this year.$3.62$2.65$0.97$0.58$0.57$0.01
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.70$2.74$0.96$0.89
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.80$2.65$1.15$0.39
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.97$3.51$0.47$0.46