Civic Intelligence

The Delta Chi Fraternity

990 • Fiscal year 2023 • EIN 42-0212285

Jul 01, 2022 to Jun 30, 2023 • Filed on Apr 02, 2024

3845 N Meridian StreetIndianapolis, IN 46208

(463) 207-7200

Siviq Scores

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

Liabilities / Assets

25th percentile

0.21x

Higher debt load relative to assets than 25% of similar nonprofits.

2023 filings • 501(c)7 • $10M-$25M nonprofits • Source year 2023

Liabilities / Revenue

33rd percentile

0.49x

Higher debt load relative to revenue than 33% of similar nonprofits.

2023 filings • 501(c)7 • $10M-$25M nonprofits • Source year 2023

Net Margin

1st percentile

-86%

Higher net margin than 1% of similar nonprofits.

2023 filings • 501(c)7 • $10M-$25M nonprofits • Source year 2023

Top Officer Pay

21st percentile

$150,409

Higher top officer pay than 21% of similar nonprofits.

Top officer pay equals 3.3% of source-year revenue.

2023 filings • 501(c)7 • $10M-$25M nonprofits • Source year 2023

Asset Growth

2nd percentile

-15%

Faster asset growth than 2% of similar nonprofits.

2023 filings • 501(c)7 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Revenue Growth

93rd percentile

36%

Faster revenue growth than 93% of similar nonprofits.

2023 filings • 501(c)7 • $10M-$25M nonprofits • Annualized from 2022 to 2023

Assets

Down

$10,805,747

Down $1,942,982 (-15%) from 2022

Net Assets

Down

$8,584,361

Down $3,650,073 (-30%) from 2022

Liabilities

Up

$2,221,386

Up $1,707,091 (+332%) from 2022

Revenue

Up

$4,512,794

Up $1,183,681 (+36%) from 2022

Expenses

Up

$8,407,611

Up $6,002,608 (+250%) from 2022

Net Income

Down

-$3,894,817

Down $4,818,927 (-521%) from 2022

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2012: $10,224,016Liabilities 2012: $249,904Net Assets 2012: $9,974,1122012Assets 2013: $10,815,499Liabilities 2013: $104,418Net Assets 2013: $10,711,0812013Assets 2014: $11,387,942Liabilities 2014: $232,020Net Assets 2014: $11,155,9222014Assets 2015: $12,442,885Liabilities 2015: $119,678Net Assets 2015: $12,323,2072015Assets 2016: $12,961,282Liabilities 2016: $273,337Net Assets 2016: $12,687,9452016Assets 2017: $13,387,676Liabilities 2017: $147,406Net Assets 2017: $13,240,2702017Assets 2018: $13,714,569Liabilities 2018: $285,031Net Assets 2018: $13,429,5382018Assets 2019: $13,003,477Liabilities 2019: $197,573Net Assets 2019: $12,805,9042019Assets 2020: $11,042,585Liabilities 2020: $564,130Net Assets 2020: $10,478,4552020Assets 2021: $13,269,476Liabilities 2021: $897,690Net Assets 2021: $12,371,7862021Assets 2022: $12,748,729Liabilities 2022: $514,295Net Assets 2022: $12,234,4342022Assets 2023: $10,805,747Liabilities 2023: $2,221,386Net Assets 2023: $8,584,3612023Assets 2024: $10,048,245Liabilities 2024: $2,867,204Net Assets 2024: $7,181,0412024Assets 2025: $9,327,359Liabilities 2025: $2,526,933Net Assets 2025: $6,800,4262025

Highlighted filing

2023

Assets$10,805,747
Liabilities$2,221,386
Net Assets$8,584,361

Operations Trend

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

$10M$5.0M$0-$5.0MRevenue 2012: $2,537,116Expenses 2012: $2,070,301Net Income 2012: $466,8152012Revenue 2013: $2,930,253Expenses 2013: $2,193,284Net Income 2013: $736,9692013Revenue 2014: $2,769,261Expenses 2014: $2,321,237Net Income 2014: $448,0242014Revenue 2015: $3,114,567Expenses 2015: $1,947,282Net Income 2015: $1,167,2852015Revenue 2016: $2,900,498Expenses 2016: $2,535,760Net Income 2016: $364,7382016Revenue 2017: $3,413,342Expenses 2017: $2,861,017Net Income 2017: $552,3252017Revenue 2018: $3,294,649Expenses 2018: $3,105,381Net Income 2018: $189,2682018Revenue 2019: $3,506,739Expenses 2019: $4,130,373Net Income 2019: -$623,6342019Revenue 2020: $3,625,593Expenses 2020: $5,920,886Net Income 2020: -$2,295,2932020Revenue 2021: $4,180,621Expenses 2021: $2,516,842Net Income 2021: $1,663,7792021Revenue 2022: $3,329,113Expenses 2022: $2,405,003Net Income 2022: $924,1102022Revenue 2023: $4,512,794Expenses 2023: $8,407,611Net Income 2023: -$3,894,8172023Revenue 2024: $3,368,033Expenses 2024: $4,894,379Net Income 2024: -$1,526,3462024Revenue 2025: $4,294,708Expenses 2025: $5,081,398Net Income 2025: -$786,6902025

Highlighted filing

2023

Revenue$4,512,794
Expenses$8,407,611
Net Income-$3,894,817
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Apr 2, 2024
Return Version
2022v5.0
Gross Receipts
$4,841,254
Mission and Program Overview

Mission

The delta chi fraternity provides great advantages derived from a brotherhood of college and university men, appreciating that close association may promote friendship, develop character, advance justice and assist in the acquisition of a sound education.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$7,231,881$4,969,931▼ $2,261,950
Other Notes and Loans Receivable, Net$3,257,232$1,930,005▼ $1,327,227
Savings and Temporary Cash Investments$1,716,557$1,547,236▼ $169,321
Prepaid Expenses and Deferred Charges$102,975$158,129▲ $55,154
Accounts Receivable$85,282$154,683▲ $69,401
Investments Other Securities$83,082$83,082→ $0
Inventories for Sale or Use$84,615$78,942▼ $5,673
Land, Buildings, and Equipment, Net$4,933$1,744▼ $3,189
Total Assets$12,748,729$10,805,747▼ $1,942,982
Other Assets Total$182,172$1,881,995▲ $1,699,823
Liabilities
Other Liabilities$82,545$2,063,017▲ $1,980,472
Deferred Revenue$327,100--
Accounts Payable and Accrued Expenses$104,650$158,369▲ $53,719
Total Liabilities$514,295$2,221,386▲ $1,707,091
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$12,234,434$8,584,361▼ $3,650,073
Total Net Assets Fund Balance$12,234,434$8,584,361▼ $3,650,073
Total Liabilities and Net Assets / Fund Balance$12,748,729$10,805,747▼ $1,942,982

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$1,744$67,058$68,802
Other Assets Org$1,751,048--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$1,857,377$88,479▲ $233,311$46,204$2,132,963
2021$2,203,554-▼ $313,645$32,532$1,857,377
2020$1,808,047-▲ $620,968$225,461$2,203,554
2019$1,770,799-▲ $37,248-$1,808,047
2018$1,588,093-▲ $208,919$26,213$1,770,799
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jerod Breit Through 13123Executive DirectorFT$137,246$13,163$150,409

Board Members and Trustees

NameTitle
Patrick AlderdiceInternational President
Aaron OttoRetiring President
Karl Grindel 13123 - PresentExecutive Director
Matt GorneyInternational Secretary
Mark SextonInternational Treasurer
Ben DundasRegent
Cody SchrockRegent
Grant HerrinRegent
Greg CaufmanRegent
Greg GrimesRegent
John RodicanRegent
Josh KleinRegent
Max HarperRegent
Nikolaus KernRegent
Revenue and Support

Revenue Composition

Contributions and Grants
$230,522
Program Service Revenue
$3,164,246
Investment Income
$359,364
Other Revenue
$758,662
All Other Contributions
$54,658
Change in Net Assets
$-3,894,817

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table1$175,864Book Value
Total Noncash Contributions1$175,864-

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,865,364
Revenue Not Reported on Financial Statements
$647,430
Revenue Not Reported on Form 990
$319,499
Other Revenue Adjustments
$605,705
Total Revenue per Audited Statements
$4,184,863
Total Revenue per Form 990
$4,512,794
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$4,743,272
Other Expenses$2,410,027
Salaries, Compensation, and Employee Benefits$1,254,312
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs---$4,743,272
Other Salaries and Wages---$849,844
Conferences and Meetings---$417,531
Travel---$305,491
Current Officers, Directors, Trustees, and Key Employees---$206,900
Office Expenses---$169,496
Occupancy---$145,582
Fees for Services Accounting---$98,721
Other Employee Benefits---$95,486
Payroll Taxes---$87,161
All Other Expenses---$66,045
Information Technology---$45,981
Fees for Service Investment Mgmnt Fees---$41,725
Other Expenses---$29,065
Advertising---$15,266
Pension Plan Contributions---$14,921
Fees for Services Legal---$12,338
Depreciation Depletion---$3,189
Total Functional Expenses$0$0$0$8,407,611

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$8,407,611
Total Expenses per Audited Statements$7,834,936
Expenses per Audited Statements$7,760,181
Expenses Not Reported on Financial Statements$647,430
Other Expense Adjustments$605,705
Expenses Not Reported on Form 990$74,755
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Barrister Capital CorporationDecatur, IL501c7Operations Support$150,000
Foundation for Fraternal ExcellenceFishers, IN501c3INDUSTRY RESEARCH FOR MEN'S INITIATIVES$25,000
Martlet IncIndianapolis, IN501c2Operations Support$0
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Right of Use Liability$1,751,048
Risk Management Reserve$252,659
Funds Held for Closed Chapters$59,310
Governance and Compliance

Governance Checklist

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

Governance Explanations

Form 990, Part VI, Section A, Line 4

The bylaws were updated in october 2022. Significant changes are as follows: 1. When extraordinary events prevent the holding of a regional leadership conference, the board may, by a three-fourths (3/4) vote, authorize the holding of said regional leadership conference totally by electronic means providing all delegates have the ability to hear each other and participate in the deliberations with either secure electronic voting or roll call votes on items of business and other interested fraternity members have the ability to observe the proceedings. In the event that extraordinary events or unexpected weather conditions would prevent a specific chapter or chapters from physically attending a regional leadership conference, the regent may authorize the attendance of the impacted chapter(s) by electronic means and allow for the participation in the business portions of said conference in the same manner. 2. A diversity, equity and inclusion committee (appointed by the board) was added. The committee shall consist of four alumni and three student members. The alumni members shall be appointed at the non-convention year regular meeting of the board for a two-year term. The student members shall be appointed at the post-convention board meeting and the non-convention year regular meeting of the board for a one-year term. The diversity, equity and inclusion committee shall support and advance the fraternity's mission, vision and values by providing guidance in the development and implementation of proactive recruitment, diversity, access, inclusion, recognition, representation, and retention initiatives. No member shall serve more than twelve (12) consecutive years on the same standing committee. There must be a two-year break in service before appointment to the same committee. The years served by a member completing the unexpired term of another shall not be counted towards the limit on the term of service.

Form 990, Part VI, Section A, Line 6

Membership consists of males registered in any college or university, with a chapter of the fraternity. Alumni members members of the fraternity who are not active members of an undergraduate chapter and are bona fide residents of localities in which an alumni chapter is located.

Form 990, Part VI, Section A, Line 7A

A director (regent) shall be elected by the chapters and provisional chapters of each region. Each regent shall be elected at a regional leadership conference, and shall be considered duly elected when he receives the majority vote of a quorum of chapters and provisional chapters present there. Each chapter and provisional chapter shall cast the same number of votes provided in delta chi law for convention voting. The vote shall be by secret ballot. In the event a quorum is not present (quorum is one eligible vote over 50%), no candidate achieves a majority vote of a quorum, or the balloting results in a tie vote, the chapters and provisional chapters of the region shall be polled by mail by the current regent with votes returned to the headquarters office for tabulation. If, after all ballots are returned or thirty (30) days, whichever comes first, no candidate has been elected, then the board of regents, on or after june 15 of that year, shall elect the regent from among the candidates with the top two number of votes for the full term due to be elected.

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

Form 990 is prepared by an independent accounting firm. Management reviews a draft of the audit prior to sharing with the board of regents for comments. The return is then filed after comment period has passed.

Form 990, Part VI, Section B, Line 12C

Every board member and every management staff employee signs a conflict of interest statement at a minimum of once a year. Also, when a new board member or management staff person is added, that person signs a conflict of interest statement.

Form 990, Part VI, Section B, Line 15

The primary source of comparative compensation data comes from the annual association compensation and benefits study from the american society of association executives and the center for association leadership. The members of the fraternity's executive committee also consult with their own experience within their respective organizations and related industries. The executive committee then deliberates and votes on compensation to be paid to the executive director.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, policies, financial statements and 990/990-t/state income tax returns are made available to the person who requests them as long as the request for copies is a valid and reasonable request. Any request that appears to be, or is, hostile in nature is delayed until organization management and/or officers have consulted with legal counsel to determine the action to take.

Filing and Contact Details

Filer

Filer Name
The Delta Chi Fraternity
EIN
42-0212285
Phone
4632077200
Address
3845 N MERIDIAN STREET, INDIANAPOLIS, IN 46208

Signing Officer

Name
Karl Grindel
Title
Executive Director
Phone
4632077200
Signed
2024-04-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Karl Grindel
Formed
1890
Legal Domicile
Ia
Voting Board Members
13
Independent Board Members
13
Employees
22
Volunteers
825

Preparer

Firm
Blue & Co LLC
Address
12800 N MERIDIAN ST STE 400, CARMEL, IN 46032
Preparer
Angela N Crawford CPA
Phone
3178488920
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The audit committee assumes responsibility for the oversight of the audit. The process has not changed from the prior year.

Financial Statement Notes

PART V, LINE 4:

The primary purpose of the fund is to act as a reserve which will provide for funds for general operations as approved by the board. The organization expects its endowment fund, over time, to provide an average rate of return of seven to nine percent. Actual returns in any given year may vary from this amount. To satisfy its long-term rate-of-return objectives, the organization relies on a total return strategy in which investment returns are achieved through both capital appreciation (realized and unrealized) and current yield (interest and dividends). The organization targets a diversified asset allocation that places a greater emphasis on equity-based investments to achieve its long-term return objectives.

PART X, LINE 2:

Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the organization and recognize a tax liability if the organization has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the organization, and has concluded that as of june 30, 2023 and 2022, there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying consolidated financial statements. The organization is subject to routine audits by taxing jurisdictions; however, there are currently no audits for any tax periods in progress.

PART XI, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold netted with revenue 74,755.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Bad debt recovery 605,705.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Cost of goods sold netted with revenue 74,755.

PART XII, LINE 4B - OTHER ADJUSTMENTS:

Bad debt recovery 605,705.

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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$9.33$2.53$6.80$4.29$5.08$0.79
2024Facts available. Structured filing facts are available, but richer extracted sections are limited.$10.0$2.87$7.18$3.37$4.89$1.53
2023Detailed filing. Detailed filing data is available for this year.$10.8$2.22$8.58$4.51$8.41$3.89
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$12.7$0.51$12.2$3.33$2.41$0.92
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.3$0.90$12.4$4.18$2.52$1.66
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$11.0$0.56$10.5$3.63$5.92$2.30
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.0$0.20$12.8$3.51$4.13$0.62
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$13.7$0.29$13.4$3.29$3.11$0.19
2017Facts available. Structured filing facts are available, but richer extracted sections are limited.$13.4$0.15$13.2$3.41$2.86$0.55
2016Detailed filing. Detailed filing data is available for this year.$13.0$0.27$12.7$2.90$2.54$0.36
2015Detailed filing. Detailed filing data is available for this year.$12.4$0.12$12.3$3.11$1.95$1.17
2014Detailed filing. Detailed filing data is available for this year.$11.4$0.23$11.2$2.77$2.32$0.45
2013Summary only. Only limited summary data is available for this year.$10.8$0.10$10.7$2.93$2.19$0.74
2012Summary only. Only limited summary data is available for this year.$10.2$0.25$9.97$2.54$2.07$0.47
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2023 filings • 501(c)7 • $10M-$25M nonprofits