Chi Psi Fraternity (Alpha Sigma of Chi Psi)

“The membership of the alpha sigma chapter of the chi psi fraternity consisted of all initiated members of the fraternity. For the 2020 tax year, the chapter consisted of 83 members.”

“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.”

“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.”

“The form was provided to the chapter's governing board prior to filing.”

“Documents are available upon request”

“Reasonable cause statement for late filing 2020 form 990 for year ending 6/30/2021: section 6651(a)(1) indicates the late filing penalty will not be imposed if the organization can show reasonable cause for failure to file a complete or timely return. In october 2022 the organization's current treasurer realized that 990s hadn't been filed for the years ending 6/30/20 and 6/30/2021. As soon as the current treasurer realized this he contacted a cpa firm to determine what needed to be done to get the past returns filed and to ensure that the 6/30/2022 form 990 is filed on time. Covid made transtion from past treasurers to current treasurer more challenging than usual since not everyone was present in the house. In addition, it was very difficult to obtain banking records in a timely manner during this time. We also ask that you consider the organization is run entirely by student volunteers and consider the fact that any payment of penalties will reduce the amount of funds the organization has to fund their charitable purpose. Going forward the organization has engaged an outside accounting firm to track due dates and assist the organization with meeting it's filing obligations.”