Civic Intelligence

Chi Psi Fraternity (Alpha Sigma of Chi Psi)

990 • Fiscal year 2023 • EIN 56-0548040

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

Organization ProfileWWW.CHIPSIUNC.ORG
321 West Cameron AvenueChapel Hill, NC 27516

(919) 968-9062

Siviq Scores

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

Liabilities / Assets

31st percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)7 • $500k-$1M nonprofits • Source year 2023

Liabilities / Revenue

32nd percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2023 filings • 501(c)7 • $500k-$1M nonprofits • Source year 2023

Net Margin

38th percentile

0.9%

Higher net margin than 38% of similar nonprofits.

2023 filings • 501(c)7 • $500k-$1M nonprofits • Source year 2023

Top Officer Pay

88th percentile

$200

Higher top officer pay than 88% of similar nonprofits.

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

2023 filings • 501(c)7 • $500k-$1M nonprofits • Source year 2023

Asset Growth

99th percentile

180%

Faster asset growth than 99% of similar nonprofits.

2023 filings • 501(c)7 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Revenue Growth

85th percentile

34%

Faster revenue growth than 85% of similar nonprofits.

2023 filings • 501(c)7 • $500k-$1M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets31st percentile

Assets

Up

$10,497

Up $6,748 (+180%) from 2022

Net Assets

Up

$10,497

Up $6,748 (+180%) from 2022

Liabilities

Flat

$0

Flat from 2022

Revenue And Expenses
Liabilities / Revenue32nd percentileNet Margin38th percentile

Revenue

Up

$748,676

Up $191,581 (+34%) from 2022

Expenses

Up

$741,933

Up $170,497 (+30%) from 2022

Net Income

Up

$6,743

Up $21,084 (+147%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth99th percentile

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

$40K$30K$20K$10K$0Assets 2017: $37,386Liabilities 2017: $0Net Assets 2017: $37,3862017Assets 2018: $25,925Liabilities 2018: $0Net Assets 2018: $25,9252018Assets 2019: $38,952Liabilities 2019: $0Net Assets 2019: $38,9522019Assets 2021: $18,090Liabilities 2021: $0Net Assets 2021: $18,0902021Assets 2022: $3,749Liabilities 2022: $0Net Assets 2022: $3,7492022Assets 2023: $10,497Liabilities 2023: $0Net Assets 2023: $10,4972023Assets 2024: $6,580Liabilities 2024: $0Net Assets 2024: $6,5802024

Highlighted filing

2023

Assets$10,497
Liabilities$0
Net Assets$10,497
Open 2023 Filing

Operations Trend

Revenue Growth85th percentile

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

$800K$600K$400K$200K$0-$200KRevenue 2017: $590,587Expenses 2017: $630,508Net Income 2017: -$39,9212017Revenue 2018: $609,051Expenses 2018: $620,871Net Income 2018: -$11,8202018Revenue 2019: $539,489Expenses 2019: $526,461Net Income 2019: $13,0282019Revenue 2021: $328,529Expenses 2021: $342,899Net Income 2021: -$14,3702021Revenue 2022: $557,095Expenses 2022: $571,436Net Income 2022: -$14,3412022Revenue 2023: $748,676Expenses 2023: $741,933Net Income 2023: $6,7432023Revenue 2024: $739,576Expenses 2024: $743,493Net Income 2024: -$3,9172024

Highlighted filing

2023

Revenue$748,676
Expenses$741,933
Net Income$6,743
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Nov 2, 2023
Return Version
2022v5.0
Gross Receipts
$748,676
Mission and Program Overview

Mission

To advance the intellectual, moral, and social lives of its members; to foster brotherhood by bettering ourselves, our university, and our nation; and to develop true gentlemen in every sense of the word. The organizations significant activities involve providing housing and food for many of our members, engaging in philanthropic activities, providing members with leadership and learning opportunities (within and outside the fraternity) and holding social events.

To foster brotherhood by bettering ourselves, our university, and our nation

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$3,749$10,497▲ $6,748
Total Assets$3,749$10,497▲ $6,748
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,749$10,497▲ $6,748
Total Net Assets Fund Balance$3,749$10,497▲ $6,748
Total Liabilities and Net Assets / Fund Balance$3,749$10,497▲ $6,748
Compensation and Service Providers
Top Officer Pay88th percentile

Employees

NameTitleFull / Part TimeOtherTotal
Marshall LandryKitchen ManagerPT$200$200

Board Members and Trustees

NameTitle
Joseph WoodruffPresident
Jack VickCo-lodge Manager
Jake SpivaCo-lodge Manager
Luke RheneyTreasurer (from Spring 23)
Jack GoldsmithTreasurer (thr Spring 23)
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$748,676
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$6,743
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$719,583
Grants and Similar Amounts Paid$22,350
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Occupancy---$232,368
Travel---$48,983
Grants to Domestic Individuals---$22,350
Insurance---$22,050
Fees for Services Accounting---$6,295
Other Expenses---$3,125
Information Technology---$2,400
Fees for Services Other---$1,400
All Other Expenses---$1,000
Total Functional Expenses$0$0$0$741,933
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
Annual disclosure for covered persons
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
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

“The membership of the alpha sigma chapter of the chi psi fraternity consisted of all initiated members of the fraternity. For the 2022 tax year, the chapter consisted of 104 members.”

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

“All active members are eligible to vote in members of the governing body during bi-annual elections. To qualify under active status, a member must be an undergraduate student of the university of north carolina at chapel hill and fulfill all financial obligations to the chapter.”

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

“Many significant decisions of the elected officers are subject to approval by a majority vote, which comes from the decision being voted on by all active and present members of the organization. To qualify under active status, a member must be an undergraduate student of the university of north carolina at chapel hill and fulfill all financial obligations to the chapter.”

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

“The form was prepared by the organizations treasurer with the help of hired accountants, and was provided to the chapters governing board prior to filing.”

Form 990, Part VI, Section C, Line 19

“Documents are available upon request”

Filing and Contact Details

Filer

Filer Name
Chi Psi Fraternity
EIN
56-0548040
Phone
9199689062
Address
321 WEST CAMERON AVENUE, CHAPEL HILL, NC 27516

Signing Officer

Name
Luke Rheney
Title
Treasurer
Phone
9199689062
Signed
2023-11-02
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Luke Rheney
Formed
1928
Legal Domicile
Nc
Voting Board Members
6
Independent Board Members
6
Employees
0
Volunteers
104

Preparer

Firm
Blackman & Sloop Cpas Pa
Address
1414 RALEIGH ROAD SUITE 300, CHAPEL HILL, NC 27517
Preparer
Elizabeth Mauch
Phone
9199428700
Raw XML Appendix294 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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IRS990/Form990PartVIISectionAGrp/TitleTxt0CO-LODGE MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt1CO-LODGE MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt2KITCHEN MANAGER
IRS990/Form990PartVIISectionAGrp/TitleTxt3PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt4TREASURER (FROM SPRING 23)
IRS990/Form990PartVIISectionAGrp/TitleTxt5TREASURER (THR SPRING 23)
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IRS990/GrantsToIndividualsInd01
IRS990/GrantsToOrganizationsInd00
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IRS990/MissionDesc0TO ADVANCE THE INTELLECTUAL, MORAL, AND SOCIAL LIVES OF ITS MEMBERS; TO FOSTER BROTHERHOOD BY BETTERING OURSELVES, OUR UNIVERSITY, AND OUR NATION; AND TO DEVELOP TRUE GENTLEMEN IN EVERY SENSE OF THE WORD. THE ORGANIZATIONS SIGNIFICANT ACTIVITIES INVOLVE PROVIDING HOUSING AND FOOD FOR MANY OF OUR MEMBERS, ENGAGING IN PHILANTHROPIC ACTIVITIES, PROVIDING MEMBERS WITH LEADERSHIP AND LEARNING OPPORTUNITIES (WITHIN AND OUTSIDE THE FRATERNITY) AND HOLDING SOCIAL EVENTS.
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IRS990/ProgSrvcAccomActy2Grp/Desc0PROVISION OF MEALS TO ORGANIZATION MEMBERS. COMMUNAL MEALS ARE PROVIDED IN ORDER TO FOSTER BROTHERHOOD AND FRATERNITY.
IRS990/ProgSrvcAccomActy3Grp/Desc0PARTICIPATION IN ACTIVITIES FOCUSED ON COMMUNITY INVOLVEMENT AND IMPROVEMENT. EXAMPLES INCLUDE PROVIDING PHYSICAL VOLUNTEERS IN THE FORM OF THE MEMBERS, BUT ALSO HOLDING PHILANTHROPIC EVENTS THAT ALLOW MEMBERS TO RAISE MONEY FOR CHARITIES. PARTICIPATION IS FREQUENTLY RELATED TO EVENTS HELD BY THE CHARITIES FOR WHICH THE ORGANIZATION RAISES MONEY.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE MEMBERSHIP OF THE ALPHA SIGMA CHAPTER OF THE CHI PSI FRATERNITY CONSISTED OF ALL INITIATED MEMBERS OF THE FRATERNITY. FOR THE 2022 TAX YEAR, THE CHAPTER CONSISTED OF 104 MEMBERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ALL ACTIVE MEMBERS ARE ELIGIBLE TO VOTE IN MEMBERS OF THE GOVERNING BODY DURING BI-ANNUAL ELECTIONS. TO QUALIFY UNDER ACTIVE STATUS, A MEMBER MUST BE AN UNDERGRADUATE STUDENT OF THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL AND FULFILL ALL FINANCIAL OBLIGATIONS TO THE CHAPTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MANY SIGNIFICANT DECISIONS OF THE ELECTED OFFICERS ARE SUBJECT TO APPROVAL BY A MAJORITY VOTE, WHICH COMES FROM THE DECISION BEING VOTED ON BY ALL ACTIVE AND PRESENT MEMBERS OF THE ORGANIZATION. TO QUALIFY UNDER ACTIVE STATUS, A MEMBER MUST BE AN UNDERGRADUATE STUDENT OF THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL AND FULFILL ALL FINANCIAL OBLIGATIONS TO THE CHAPTER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM WAS PREPARED BY THE ORGANIZATIONS TREASURER WITH THE HELP OF HIRED ACCOUNTANTS, AND WAS PROVIDED TO THE CHAPTERS GOVERNING BOARD PRIOR TO FILING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4DOCUMENTS ARE AVAILABLE UPON REQUEST
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/BusinessOfficerGrp/SignatureDt02023-11-02
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0CHI PSI FRATERNITY
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0(ALPHA SIGMA OF CHI PSI)
ReturnHeader/Filer/BusinessNameControlTxt0CHIP
ReturnHeader/Filer/EIN0560548040
ReturnHeader/Filer/PhoneNum09199689062
ReturnHeader/Filer/USAddress/AddressLine1Txt0321 WEST CAMERON AVENUE
ReturnHeader/Filer/USAddress/CityNm0CHAPEL HILL
ReturnHeader/Filer/USAddress/StateAbbreviationCd0NC
ReturnHeader/Filer/USAddress/ZIPCd027516
ReturnHeader/IRSResponsiblePrtyInfoCurrInd01
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0561304727
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0BLACKMAN & SLOOP CPAS PA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt01414 RALEIGH ROAD SUITE 300
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0CHAPEL HILL
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0NC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd027517
ReturnHeader/PreparerPersonGrp/PhoneNum09199428700
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0ELIZABETH MAUCH
ReturnHeader/ReturnTs02023-11-13T09:14:09-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0LUKE
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0RHENEY
ReturnHeader/TaxPeriodBeginDt02022-07-01
ReturnHeader/TaxPeriodEndDt02023-06-30
ReturnHeader/TaxYr02022

Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$10,497
Liabilities
$0
Net assets
$10,497
Revenue
$748,676
Expenses
$741,933
Net income
$6,743
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$0.07$0.00$0.07$7.40$7.43$0.04
2023Detailed filing. Detailed filing data is available for this year.$0.10$0.00$0.10$7.49$7.42$0.07
2022Detailed filing. Detailed filing data is available for this year.$0.04$0.00$0.04$5.57$5.71$0.14
2021Detailed filing. Detailed filing data is available for this year.$0.18$0.00$0.18$3.29$3.43$0.14
2019Summary only. Only limited summary data is available for this year.$0.39$0.00$0.39$5.39$5.26$0.13
2018Summary only. Only limited summary data is available for this year.$0.26$0.00$0.26$6.09$6.21$0.12
2017Summary only. Only limited summary data is available for this year.$0.37$0.00$0.37$5.91$6.31$0.40