Civic Intelligence

Arkansas Chapter of Phi Mu Fraternity House Corp

990 • Fiscal year 2023 • EIN 82-0719123

Jul 01, 2022 to Jun 30, 2023 • Filed on Oct 31, 2023

792 W MapleFayetteville, AR 72701

(918) 671-7343

Siviq Scores

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

Liabilities / Assets

96th percentile

0.89x

Higher debt load relative to assets than 96% of similar nonprofits.

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

Liabilities / Revenue

99th percentile

6.68x

Higher debt load relative to revenue than 99% of similar nonprofits.

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

Net Margin

27th percentile

-0.5%

Higher net margin than 27% of similar nonprofits.

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

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2023

Asset Growth

16th percentile

-2.1%

Faster asset growth than 16% of similar nonprofits.

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

Revenue Growth

9th percentile

-11%

Faster revenue growth than 9% of similar nonprofits.

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

Assets

Flat

$11,567,179

Flat from 2023

Net Assets

Flat

$1,279,489

Flat from 2023

Liabilities

Flat

$10,287,690

Flat from 2023

Revenue

Flat

$1,540,050

Flat from 2023

Expenses

Flat

$1,547,395

Flat from 2023

Net Income

Flat

-$7,345

Flat from 2023

Historical Trend

Balance Sheet Trend

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

$15M$10M$5.0M$0Assets 2020: $12,509,392Liabilities 2020: $11,402,068Net Assets 2020: $1,107,3242020Assets 2021: $12,092,358Liabilities 2021: $11,048,310Net Assets 2021: $1,044,0482021Assets 2022: $11,817,614Liabilities 2022: $10,530,781Net Assets 2022: $1,286,8332022Assets 2023: $11,567,179Liabilities 2023: $10,287,690Net Assets 2023: $1,279,4892023Assets 2023: $11,567,179Liabilities 2023: $10,287,690Net Assets 2023: $1,279,4892023Assets 2024: $11,692,357Liabilities 2024: $9,669,081Net Assets 2024: $2,023,2762024Assets 2025: $11,702,813Liabilities 2025: $9,337,947Net Assets 2025: $2,364,8662025

Highlighted filing

2023

Assets$11,567,179
Liabilities$10,287,690
Net Assets$1,279,489

Operations Trend

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

$3.0M$2.0M$1.0M$0-$1.0MRevenue 2020: $1,218,613Expenses 2020: $1,435,831Net Income 2020: -$217,2182020Revenue 2021: $1,387,844Expenses 2021: $1,451,121Net Income 2021: -$63,2772021Revenue 2022: $1,733,688Expenses 2022: $1,490,903Net Income 2022: $242,7852022Revenue 2023: $1,540,050Expenses 2023: $1,547,395Net Income 2023: -$7,3452023Revenue 2023: $1,540,050Expenses 2023: $1,547,395Net Income 2023: -$7,3452023Revenue 2024: $2,302,722Expenses 2024: $1,558,934Net Income 2024: $743,7882024Revenue 2025: $1,939,898Expenses 2025: $1,598,309Net Income 2025: $341,5892025

Highlighted filing

2023

Revenue$1,540,050
Expenses$1,547,395
Net Income-$7,345
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
Oct 31, 2023
Return Version
2022v5.0
Gross Receipts
$1,540,050
Mission and Program Overview

Mission

To provide affordable housing, meals and leadership opportunities to the phi mu fraternity members at the university of arkansas

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$11,166,033$10,818,367▼ $347,666
Cash and Non-Interest-Bearing Accounts$651,581$748,812▲ $97,231
Total Assets$11,817,614$11,567,179▼ $250,435
Liabilities
Mortgage Notes Payable Secured by Investment Property$8,735,369$8,471,846▼ $263,523
Other Liabilities$1,644,512$1,657,730▲ $13,218
Unsecured Notes Loans Payable$150,900$158,114▲ $7,214
Total Liabilities$10,530,781$10,287,690▼ $243,091
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,286,833$1,279,489▼ $7,344
Total Net Assets Fund Balance$1,286,833$1,279,489▼ $7,344
Total Liabilities and Net Assets / Fund Balance$11,817,614$11,567,179▼ $250,435

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$10,604,686$1,537,406$12,142,092
Other Land Buildings$213,681$256,460$470,141
Compensation and Service Providers

Employees

NameTitleBaseTotal
Donna StallardKey Employee$51,491$51,491
Revenue and Support

Revenue Composition

Contributions and Grants
$16,757
Program Service Revenue
$1,515,288
Investment Income
$6,700
Other Revenue
$1,305
All Other Contributions
$16,757
Change in Net Assets
$-7,345
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$1,490,920
Salaries, Compensation, and Employee Benefits$56,475
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion$364,385--$364,385
Interest$348,051--$348,051
Other Expenses$122,771--$122,771
Other Salaries and Wages$51,491--$51,491
Office Expenses$45,661--$45,661
Insurance$22,445--$22,445
Payroll Taxes$4,984--$4,984
Occupancy$2,730--$2,730
Fees for Services Accounting$2,121--$2,121
Fees for Services Legal$2,033--$2,033
Total Functional Expenses$1,547,395$0$0$1,547,395
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
National House Corp$1,624,234
Room Deposits$21,750
Prepaid Security Deposits$11,746
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
Yes
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
Yes
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Organizational document changes Part VI line 4

In august 2023, the bylaws were amended. A summary of the changes are attached to this return.

Members or stockholder classes and rights Part VI line 6

According to the bylaws, phi mu housing corporation is the sole member.

Member election for additional members Part VI line 7A

Member is authorized to nominate and approve directors.

Governing body decisions Part VI line 7B

Member is authorized to approve bylaw revisions.

Form 990 governing body review Part VI line 11

The form 990 is prepared by an independent cpa firm and reviewed by the organizations officers prior to filing with the irs.

Conflict of interest policy compliance Part VI line 12C

Officers and employees are required to confirm annually any potential conflicts. In the interim, directors report any potential conflicts which are evaluated by the officers. If an officer is a party to the potentialconflict, they are recused from the discussion.

Other officer or key employee compensation Part VI line 15B

The president and treasurer evaluate the employees performance on an annual basis and determine any wage increases based on merit. Additionally, the president and treasurer gather available market data for similar positions.

Governing documents etc available to public Part VI line 19

The governing documents, policies, and financial statements are made available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Arkansas Chapter of Phi Mu Fraternity House Corp
EIN
82-0719123
Address
792 W MAPLE, FAYETTEVILLE, AR 72701

Signing Officer

Name
Cathy Rogers Gates
Title
Treasurer
Phone
9186717343
Signed
2023-10-31
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Virginia Rainwater Cox
Formed
2017
Legal Domicile
Ar
Voting Board Members
9
Independent Board Members
9
Employees
1

Preparer

Firm
Lisa Lashley Higgins CPA
Address
111 N CHURCH AVENUE, Fayetteville, AR 72701
Preparer
Lisa Higgins
Phone
4794428731
Supplemental Narrative

Additional Explanations

Explanation of other changes in net assets or fund balances Part XI line 9

ROUNDING

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IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt0256460
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt0470141
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt01624234
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt121750
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt211746
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0NATIONAL HOUSE CORP
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1ROOM DEPOSITS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2PREPAID SECURITY DEPOSITS
IRS990ScheduleD/TotalBookValueLandBuildingsAmt010818367
IRS990ScheduleD/TotalLiabilityAmt01657730
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0IN AUGUST 2023, THE BYLAWS WERE AMENDED. A SUMMARY OF THE CHANGES ARE ATTACHED TO THIS RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ACCORDING TO THE BYLAWS, PHI MU HOUSING CORPORATION IS THE SOLE MEMBER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2MEMBER IS AUTHORIZED TO NOMINATE AND APPROVE DIRECTORS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3MEMBER IS AUTHORIZED TO APPROVE BYLAW REVISIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE FORM 990 IS PREPARED BY AN INDEPENDENT CPA FIRM AND REVIEWED BY THE ORGANIZATIONS OFFICERS PRIOR TO FILING WITH THE IRS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5OFFICERS AND EMPLOYEES ARE REQUIRED TO CONFIRM ANNUALLY ANY POTENTIAL CONFLICTS. IN THE INTERIM, DIRECTORS REPORT ANY POTENTIAL CONFLICTS WHICH ARE EVALUATED BY THE OFFICERS. IF AN OFFICER IS A PARTY TO THE POTENTIALCONFLICT, THEY ARE RECUSED FROM THE DISCUSSION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE PRESIDENT AND TREASURER EVALUATE THE EMPLOYEES PERFORMANCE ON AN ANNUAL BASIS AND DETERMINE ANY WAGE INCREASES BASED ON MERIT. ADDITIONALLY, THE PRESIDENT AND TREASURER GATHER AVAILABLE MARKET DATA FOR SIMILAR POSITIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE GOVERNING DOCUMENTS, POLICIES, AND FINANCIAL STATEMENTS ARE MADE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt8ROUNDING
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0Organizational document changes Part VI line 4
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1Members or stockholder classes and rights Part VI line 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2Member election for additional members Part VI line 7a
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3Governing body decisions Part VI line 7b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4Form 990 governing body review Part VI line 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5Conflict of interest policy compliance Part VI line 12c
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6Other officer or key employee compensation Part VI line 15b
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7Governing documents etc available to public Part VI line 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc8Explanation of other changes in net assets or fund balances Part XI line 9
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd2false
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt0NONE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt1NONE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DirectControllingEntityName/BusinessNameLine1Txt2FRATERNITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0PHI MU FRATERNITY HOUSING CORP
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1ALPHA BETA CHAPTER OF PH MU FRATERN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt2PHI MU FRATERNITY INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0620798908
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1581380247
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IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501C2
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501C7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt2501 C7
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0GA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1AR
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd2GA
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0HOUSING CORP FOR FRATERNITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1SOCIAL SORORITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt2FRATERNAL HEADQUARTERS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt0400 WESTPARK DRIVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt1792 W MAPLE STREET
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt2400 WESTPARK DRIVE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0PEACHTREE CITY
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1FAYETTEVILLE
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm2PEACHTREE CITY
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IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt011817614
IRS990/TotalAssetsEOYAmt011567179
IRS990/TotalAssetsGrp/BOYAmt011817614
IRS990/TotalAssetsGrp/EOYAmt011567179
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt016757
IRS990/TotalEmployeeCnt01
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt01547395
IRS990/TotalFunctionalExpensesGrp/TotalAmt01547395
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesBOYAmt010530781
IRS990/TotalLiabilitiesEOYAmt010287690
IRS990/TotalLiabilitiesGrp/BOYAmt010530781
IRS990/TotalLiabilitiesGrp/EOYAmt010287690
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt01286833
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt01279489
IRS990/TotalOtherCompensationAmt00
IRS990/TotalProgramServiceExpensesAmt01547395
IRS990/TotalProgramServiceRevenueAmt01515288
IRS990/TotalReportableCompFromOrgAmt051491
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt01523293
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt01540050
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt011817614
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt011567179
IRS990/TotReportableCompRltdOrgAmt00
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UnsecuredNotesLoansPayableGrp/BOYAmt0150900
IRS990/UnsecuredNotesLoansPayableGrp/EOYAmt0158114
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0792 W MAPLE
IRS990/USAddress/CityNm0Fayetteville
IRS990/USAddress/StateAbbreviationCd0AR
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IRS990/VotingMembersGoverningBodyCnt09
IRS990/VotingMembersIndependentCnt09
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/AuthenticationAssuranceLevelCd0AAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/IdentityAssuranceLevelCd0IAL1
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/OOBSecurityVerificationCd000
ReturnHeader/AdditionalFilerInformation/TrustedCustomerGrp/TrustedCustomerCd00
ReturnHeader/BuildTS02023-04-26 12:10:37Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0CATHY ROGERS GATES
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum09186717343
ReturnHeader/BusinessOfficerGrp/SignatureDt02023-10-31
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0ARKANSAS CHAPTER OF PHI MU FRATERNITY HOUSE CORP

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