Civic Intelligence

Delta Phi Chapter of Theta Chi Fraternity Housing Corporation

EIN 90-0239693 • 501(c)7 • Dallas, TX

Profile

Own and operate a fraternity house for the benefit of the student members of delta phi chapter of theta chi fraternity.

CO Maultsby 12221 Merit Dr No 18Dallas, TX 75251

n/A

Siviq Scores

Precomputed percentiles relative to similar nonprofits. These scores are descriptive rather than judgmental.

Liabilities / Assets

97th percentile

1.19x

Higher debt load relative to assets than 97% of similar nonprofits.

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

Liabilities / Revenue

99th percentile

11.25x

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

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

Net Margin

95th percentile

55%

Higher net margin than 95% of similar nonprofits.

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

Top Officer Pay

93rd percentile

$0

Higher top officer pay than 93% of similar nonprofits.

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

501(c)7 • $500k-$1M nonprofits • Source year 2019

Asset Growth

52nd percentile

2.9%

Faster asset growth than 52% of similar nonprofits.

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

Revenue Growth

20th percentile

-6.2%

Faster revenue growth than 20% of similar nonprofits.

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

Assets

Up

$966,471

Up $26,881 (+2.9%) from 2022

Liabilities

Down

$1,151,135

Down $10,000 (-0.9%) from 2022

Net Assets

Up

-$184,664

Up $36,881 (+17%) from 2022

Revenue

Down

$102,365

Down $6,712 (-6.2%) from 2022

Expenses

Down

$46,418

Down $67,399 (-59%) from 2022

Net Income

Up

$55,947

Up $60,687 (+1280%) from 2022

Trend Graphs

Balance Sheet Trend

Grouped bars show assets, liabilities, and net assets across loaded filings.

$1.5M$1.0M$500K$0-$500KAssets 2011: $864,597Liabilities 2011: $828,7582011Assets 2016: $1,018,316Liabilities 2016: $1,106,927Net Assets 2016: -$88,6112016Assets 2017: $1,066,933Liabilities 2017: $1,167,470Net Assets 2017: -$100,5372017Assets 2018: $988,598Liabilities 2018: $1,144,900Net Assets 2018: -$156,3022018Assets 2019: $959,451Liabilities 2019: $1,161,135Net Assets 2019: -$201,6842019Assets 2020: $958,683Liabilities 2020: $1,161,135Net Assets 2020: -$202,4522020Assets 2021: $944,330Liabilities 2021: $1,161,135Net Assets 2021: -$216,8052021Assets 2022: $939,590Liabilities 2022: $1,161,135Net Assets 2022: -$221,5452022Assets 2023: $966,471Liabilities 2023: $1,151,135Net Assets 2023: -$184,6642023

Highlighted filing

2023

Assets$966,471
Liabilities$1,151,135
Net Assets-$184,664

Operations Trend

Revenue, expenses, and net income by year, with the latest filing highlighted.

$400K$200K$0-$200KRevenue 2011: $335,597Expenses 2011: $374,140Net Income 2011: -$38,5432011Revenue 2016: $76,176Expenses 2016: $131,721Net Income 2016: -$55,5452016Revenue 2017: $89,884Expenses 2017: $101,810Net Income 2017: -$11,9262017Revenue 2018: $131,031Expenses 2018: $186,796Net Income 2018: -$55,7652018Revenue 2019: $59,503Expenses 2019: $104,885Net Income 2019: -$45,3822019Revenue 2020: $70,298Expenses 2020: $71,066Net Income 2020: -$7682020Revenue 2021: $59,276Expenses 2021: $73,613Net Income 2021: -$14,3372021Revenue 2022: $109,077Expenses 2022: $113,817Net Income 2022: -$4,7402022Revenue 2023: $102,365Expenses 2023: $46,418Net Income 2023: $55,9472023

Highlighted filing

2023

Revenue$102,365
Expenses$46,418
Net Income$55,947

Filings

Latest Detailed Filing

The latest 2023 filing currently has summary financial data only. Showing the latest detailed filing from 2019 below.

Jump To
Filing Snapshot
Filing Period
Jan 1, 2019 to Dec 31, 2019
Signed
Nov 10, 2020
Return Version
2019v5.1
Gross Receipts
$59,503
Mission and Program Overview

Mission

Own and operate a fraternity house for the benefit of the student members of delta phi chapter of theta chi fraternity.

Own and operate a fraternity house for the benefit of student members of delta phi chapter of theta chi fraternity.

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$940,922$912,539▼ $28,383
Cash and Non-Interest-Bearing Accounts$46,992$46,228▼ $764
Accounts Receivable$684$684→ $0
Pd in Cap Srpls Land Bldg Eqp Fund$0$0→ $0
Cap Stk Tr Prin Current Funds$0$0→ $0
Rtn Earn Endowment Incm Other Fnds$-156,302$-201,684▼ $45,382
Total Assets$988,598$959,451▼ $29,147
Liabilities
Mortgage Notes Payable Secured by Investment Property$1,144,900$1,151,135▲ $6,235
Other Liabilities$0$10,000▲ $10,000
Total Liabilities$1,144,900$1,161,135▲ $16,235
Net Assets / Fund Balance
Total Net Assets Fund Balance$-156,302$-201,684▼ $45,382
Total Liabilities and Net Assets / Fund Balance$988,598$959,451▼ $29,147

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$912,539$222,774-
Compensation and Service Providers

Board Members and Trustees

NameTitle
Dan SullivanPresident
Craig NicholsonDirector
Vance MaultsbyTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$59,503
Investment Income
$0
Other Revenue
$0
Change in Net Assets
$-45,382
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$104,885
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$28,383
Interest---$17,187
Fees for Services Legal---$8,033
Other Expenses---$840
All Other Expenses---$30
Total Functional Expenses$0$0$0$104,885
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
Deposit$10,000
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
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

Until the delta phi undergraduate chapter was suspended, the board of directors engages a management company to bill and collect rents from student members living in the fraternity house.

Form 990, Part VI, Section A, Line 6

Under the present bylaws, all alumni of delta phi chapter and all student members of delta phi chapter are members of the corporation.

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

Under the present bylaws, all alumni of delta phi chapter of theta chi fraternity are voting members of this entity. Norwich housing corporation ("nhc"), an affiliate of theta chi fraternity, holds the mortgage for the fraternity house owned by the delta phi chapter of theta chi fraternity housing corporation ("the taxpayer"). In 2016 nhc negotiated an agreement with taxpayer in lieu of default of and foreclosure on the loan. Taxpayer and its members agreed to elect individuals appointed by nhc as board members, until such time as nhc and taxpayer can restructure the loan and make needed improvements to the fraternity house and until such time that nhc is satisfied that taxpayer can properly maintain the fraternity house and can make mortgage loan payments as scheduled. The loan was restructured and improvements were made in 2017. At the time of filing of this tax return, the board appointed by nhc can continue to elect board members, according to the agreement between nhc and the taxpayer.

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

Members of the current board of directors were furnished draft copies of the 2019 form 990 before filing and were asked to comment.

Form 990, Part VI, Section C, Line 19

The organization makes available governing documents and financial statements upon request.

Filing and Contact Details

Filer

Filer Name
Delta Phi Chapter of Theta Chi
EIN
90-0239693
Phone
9724041010
Address
CO MAULTSBY 12221 MERIT DR NO 18, DALLAS, TX 75251

Signing Officer

Name
Vance Maultsby
Title
Treasurer
Phone
9724041010
Signed
2020-11-10

Organization Details

Principal Officer
Vance Maultsby
Formed
1955
Legal Domicile
TX
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
0
Supplemental Narrative

Additional Explanations

Form 990, Part III, Line 2

Early in 2019, the undergraduate chapter, delta phi chapter of theta chi fraternity, lost its charter and has been suspended from the university of north texas ("unt") campus for a period of three years. It is the intent of theta chi fraternity to establish a new colony at that time at unt. Unt is aware of and supports theta chi fraternity's plan, as the plan now stands. In the meantime and temporarily, the fraternity house is rented to the local chapter at unt of pi kappa alpha fraternity and its local housing corporation in order to house its unt collegiate chapter members and its official fraternity functions.

Form 990, Part III, Line 3

See the explanation to form 990, part iii, line 2 above.

Raw XML Appendix274 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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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0EARLY IN 2019, THE UNDERGRADUATE CHAPTER, DELTA PHI CHAPTER OF THETA CHI FRATERNITY, LOST ITS CHARTER AND HAS BEEN SUSPENDED FROM THE UNIVERSITY OF NORTH TEXAS ("UNT") CAMPUS FOR A PERIOD OF THREE YEARS. IT IS THE INTENT OF THETA CHI FRATERNITY TO ESTABLISH A NEW COLONY AT THAT TIME AT UNT. UNT IS AWARE OF AND SUPPORTS THETA CHI FRATERNITY'S PLAN, AS THE PLAN NOW STANDS. IN THE MEANTIME AND TEMPORARILY, THE FRATERNITY HOUSE IS RENTED TO THE LOCAL CHAPTER AT UNT OF PI KAPPA ALPHA FRATERNITY AND ITS LOCAL HOUSING CORPORATION IN ORDER TO HOUSE ITS UNT COLLEGIATE CHAPTER MEMBERS AND ITS OFFICIAL FRATERNITY FUNCTIONS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1SEE THE EXPLANATION TO FORM 990, PART III, LINE 2 ABOVE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2UNTIL THE DELTA PHI UNDERGRADUATE CHAPTER WAS SUSPENDED, THE BOARD OF DIRECTORS ENGAGES A MANAGEMENT COMPANY TO BILL AND COLLECT RENTS FROM STUDENT MEMBERS LIVING IN THE FRATERNITY HOUSE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3UNDER THE PRESENT BYLAWS, ALL ALUMNI OF DELTA PHI CHAPTER AND ALL STUDENT MEMBERS OF DELTA PHI CHAPTER ARE MEMBERS OF THE CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4UNDER THE PRESENT BYLAWS, ALL ALUMNI OF DELTA PHI CHAPTER OF THETA CHI FRATERNITY ARE VOTING MEMBERS OF THIS ENTITY. NORWICH HOUSING CORPORATION ("NHC"), AN AFFILIATE OF THETA CHI FRATERNITY, HOLDS THE MORTGAGE FOR THE FRATERNITY HOUSE OWNED BY THE DELTA PHI CHAPTER OF THETA CHI FRATERNITY HOUSING CORPORATION ("THE TAXPAYER"). IN 2016 NHC NEGOTIATED AN AGREEMENT WITH TAXPAYER IN LIEU OF DEFAULT OF AND FORECLOSURE ON THE LOAN. TAXPAYER AND ITS MEMBERS AGREED TO ELECT INDIVIDUALS APPOINTED BY NHC AS BOARD MEMBERS, UNTIL SUCH TIME AS NHC AND TAXPAYER CAN RESTRUCTURE THE LOAN AND MAKE NEEDED IMPROVEMENTS TO THE FRATERNITY HOUSE AND UNTIL SUCH TIME THAT NHC IS SATISFIED THAT TAXPAYER CAN PROPERLY MAINTAIN THE FRATERNITY HOUSE AND CAN MAKE MORTGAGE LOAN PAYMENTS AS SCHEDULED. THE LOAN WAS RESTRUCTURED AND IMPROVEMENTS WERE MADE IN 2017. AT THE TIME OF FILING OF THIS TAX RETURN, THE BOARD APPOINTED BY NHC CAN CONTINUE TO ELECT BOARD MEMBERS, ACCORDING TO THE AGREEMENT BETWEEN NHC AND THE TAXPAYER.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5MEMBERS OF THE CURRENT BOARD OF DIRECTORS WERE FURNISHED DRAFT COPIES OF THE 2019 FORM 990 BEFORE FILING AND WERE ASKED TO COMMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION MAKES AVAILABLE GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART III, LINE 2
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART III, LINE 3
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION A, LINE 7A
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IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
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ReturnHeader/BusinessOfficerGrp/SignatureDt02020-11-10
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0DELTA PHI CHAPTER OF THETA CHI
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FRATERNITY HOUSING CORPORATION
ReturnHeader/Filer/BusinessNameControlTxt0DELT
ReturnHeader/Filer/EIN0900239693
ReturnHeader/Filer/PhoneNum09724041010
ReturnHeader/Filer/USAddress/AddressLine1Txt0CO MAULTSBY 12221 MERIT DR NO 18
ReturnHeader/Filer/USAddress/CityNm0DALLAS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0TX
ReturnHeader/Filer/USAddress/ZIPCd075251
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId0E029A97D67E9EFE3F0974F062BBDC3955D908224
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId056914CF51E633D65FD74562ED705F2E744D1087A
ReturnHeader/FilingSecurityInformation/FilingLicenseTypeCd0P
ReturnHeader/FilingSecurityInformation/IPAddress/IPv4AddressTxt064.88.174.3
ReturnHeader/FilingSecurityInformation/IPDt02020-11-10
ReturnHeader/FilingSecurityInformation/IPTimezoneCd0CS
ReturnHeader/FilingSecurityInformation/IPTm008:16:44
ReturnHeader/ReturnTs02020-11-10T08:20:42-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02019-01-01
ReturnHeader/TaxPeriodEndDt02019-12-31
ReturnHeader/TaxYr02019

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