Civic Intelligence

Phi Kappa Psi Fraternity

990 • Fiscal year 2011 • EIN 91-0365070

Sep 01, 2010 to Aug 31, 2011 • Filed on Feb 04, 2013

Organization Profilewww.uwphipsi.com
PO Box 180498111-1804
Siviq Scores

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

Liabilities / Assets

99th percentile

2.44x

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

2011 filings • 501(c)7 • <$500k nonprofits • Source year 2011

Liabilities / Revenue

Score unavailable

No value available

Liabilities-to-revenue requires both liabilities and revenue on this filing.

Source year 2011

Net Margin

Score unavailable

No value available

Net margin requires both revenue and expenses on this filing.

Source year 2011

Top Officer Pay

Score unavailable

No value available

This filing does not contain officer compensation rows.

Source year 2011

Asset Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2011

Revenue Growth

Score unavailable

No value available

No valid filing value is available for this score.

Balance Sheet
Liabilities / Assets99th percentile

Assets

$326,945

No earlier filing loaded for comparison.

Net Assets

-$470,840

No earlier filing loaded for comparison.

Liabilities

$797,785

No earlier filing loaded for comparison.

Revenue And Expenses
Liabilities / RevenueScore unavailableNet MarginScore unavailable

Revenue

-

No earlier filing loaded for comparison.

Expenses

$320,285

No earlier filing loaded for comparison.

Net Income

-

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

Asset GrowthScore unavailable

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

$1.0M$500K$0-$500KAssets 2011: $326,945Liabilities 2011: $797,785Net Assets 2011: -$470,8402011Assets 2012: $375,001Liabilities 2012: $777,973Net Assets 2012: -$402,9722012Assets 2013: $385,096Liabilities 2013: $757,544Net Assets 2013: -$372,4482013Assets 2014: $361,487Liabilities 2014: $740,549Net Assets 2014: -$379,0622014Assets 2015: $416,254Liabilities 2015: $714,559Net Assets 2015: -$298,3052015Assets 2016: $367,134Liabilities 2016: $625,170Net Assets 2016: -$258,0362016Assets 2017: $254,768Liabilities 2017: $576,347Net Assets 2017: -$321,5792017Assets 2018: $272,614Liabilities 2018: $554,510Net Assets 2018: -$281,8962018Assets 2019: $380,608Liabilities 2019: $530,203Net Assets 2019: -$149,5952019Assets 2020: $273,551Liabilities 2020: $505,083Net Assets 2020: -$231,5322020Assets 2021: $320,866Liabilities 2021: $534,356Net Assets 2021: -$213,4902021Assets 2022: $232,256Liabilities 2022: $505,799Net Assets 2022: -$273,5432022Assets 2023: $189,789Liabilities 2023: $483,647Net Assets 2023: -$293,8582023

Highlighted filing

2011

Assets$326,945
Liabilities$797,785
Net Assets-$470,840
Open 2011 Filing

Operations Trend

Revenue GrowthScore unavailable

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

$1.0M$500K$0-$500KExpenses 2011: $320,2852011Expenses 2012: $382,2782012Expenses 2013: $507,3262013Revenue 2014: $556,826Expenses 2014: $563,440Net Income 2014: -$6,6142014Revenue 2015: $731,108Expenses 2015: $650,351Net Income 2015: $80,7572015Revenue 2016: $735,247Expenses 2016: $694,978Net Income 2016: $40,2692016Revenue 2017: $649,056Expenses 2017: $712,599Net Income 2017: -$63,5432017Revenue 2018: $809,459Expenses 2018: $769,776Net Income 2018: $39,6832018Revenue 2019: $653,116Expenses 2019: $520,815Net Income 2019: $132,3012019Revenue 2020: $409,279Expenses 2020: $491,216Net Income 2020: -$81,9372020Revenue 2021: $510,039Expenses 2021: $491,997Net Income 2021: $18,0422021Revenue 2022: $518,055Expenses 2022: $578,011Net Income 2022: -$59,9562022Revenue 2023: $423,332Expenses 2023: $443,647Net Income 2023: -$20,3152023

Highlighted filing

2011

Revenue-
Expenses$320,285
Net Income-
Open 2011 Filing
Jump To
Filing Snapshot
Filing Period
Sep 1, 2010 to Aug 31, 2011
Signed
Feb 4, 2013
Return Version
2010v3.4
Gross Receipts
$342,873
Mission and Program Overview

Mission

Washington alpha chapter of phi kappa psi provides an environment for education, growth, and personal development of undergraduate brothers during college and throughout life.

Filing and Contact Details

Filer

EIN
91-0365070
Raw XML Appendix325 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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IRS990ScheduleL/Form990ScheduleLPartIV/AmountOfTransaction082500
IRS990ScheduleL/Form990ScheduleLPartIV/DescriptionOfTransaction0LOAN TO FRATERNITY FOR GENERAL EXPENSES
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IRS990ScheduleO/GeneralExplanation/Explanation0The corporation has trustees, who are entitled to elect new trustees per the Bylaws.
IRS990ScheduleO/GeneralExplanation/Explanation1THE FORM IS PREPARED BY THE TREASURER, WITH THE ASSISTANCE OF A TAX CPA VOLUNTEER, AND THEN REVIEWED BY THE SECRETARY AND PRESIDENT FOR ACCURACY.
IRS990ScheduleO/GeneralExplanation/Explanation2THE FORMS ARE MADE PUBLIC UPON REQUEST.
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IRS990/YearFormation01914
ReasonableCauseExplanation/Explanation0PKPWA is run by volunteers that donate their time to further the education of young men in hopes that they can receive the similar collegiate and work opportunities their brothers before them have received. From time to time, as the officers change, tax expertise may be lost entirely. In 2009 (and until recently), the treasurer position for PKPWA was filled by an officer that, while a CPA, lacked the technical capabilities to understand the tax filing requirements. The treasurer is in charge of not only paying regular bills and expenses, but also ensuring compliance with IRS filing requirements. During regularly scheduled monthly board meetings, this officer lead the board to believe that 990s and other tax filings were made on time and were up to date. Trust was placed in this officer and given that the officer was a CPA, the board did not question his responses and was surprised to learn of the delinquent or incomplete filings as identified in the IRS's recent correspondence.Once the board became aware of the IRS levy for the FY 2009 return and the missing subsequent returns, the board attempted to find out from the treasurer what happened and determine how to get compliant. After countless attempts to contact the previous treasurer for information the board terminated the previous treasurer from his position and took steps to comply with the notice and remediate any outstanding filings. PKPWA respectfully requests that the penalties be abated for the following reasons: 1) The previous treasurer failed to perform his duties while leading the other officers to believe that he was in fact compliant with all of his duties, including in particular those relating to the filing of Form 990. 2) The fine will affect current members of the organization when nearly all of them were not enrolled in university studies in 2009, and all of whom ultimately rely on the board treasurer to competently and properly perform his duties. 3) Once PKPWA understood the extent of the missed filings, PKPWA immediately terminated the previous treasurer, requested counsel from a CPA (Jeffrey Thompson) and attorney (James Boyle), contacted the assigned agent, and undertook plans to remediate all outstanding informational return / file extentions within two (2) weeks of contact between PKPWA and the agent. 5) PKPWA has replaced the previous treasurer with William Kerechek (CPA at PwC), and has taken steps to ensure that this situation does not arise again. Specifically, the monthly board meetings require all members to comment on the status of filings and note all deadlines and steps being completed to ensure a similar situation does not arise, with board oversight and approval of filings prior to submission of same. According to the Internal Revenue Manual, the main purpose of the IRS's policy of asserting penalties is to "encourage voluntary compliance by supporting the standards of behaviour expected by the Internal Revenue Code" and justly penalizing the noncompliant taxpayer. "Penalties support the Service's mission only if they enhance voluntary compliance." The Service has formalized this obligation to the public in its Penalty Policy Statement (IRM 3.0.273.9.2). IRM 20.1.1.3.1.1 further provides that "reasonable cause relief is generally granted when the taxpayer exercises ordinary business care and prudence in determining their tax obligations but is unable to comply with those obligations." In addition, the IRM 20.1.1.3.1.1.1 states that "any reason that establishes a taxpayer exercised ordinary business care and prudence but was unable to comply with the tax law may be considered for penalty relief." The IRS's Consolidated Penalty Handbook states that the only reason to have penalties is to improve voluntary compliance, not to punish. Taxpayer has been a compliant taxpayer who has previously met all of its filing and paying requirements in a timely manner. Therefore, the imposition of a penalty would only serve to punish Taxpayer rather than to
ReturnHeader/BuildTS02016-02-25 16:41:14Z
ReturnHeader/Filer/EIN0910365070
ReturnHeader/Filer/Name/BusinessNameLine10PHI KAPPA PSI FRATERNITY
ReturnHeader/Filer/NameControl0PHIK
ReturnHeader/Filer/Phone02065277900
ReturnHeader/Filer/USAddress/AddressLine10PO BOX 1804
ReturnHeader/Filer/USAddress/City0SEATTLE
ReturnHeader/Filer/USAddress/State0WA
ReturnHeader/Filer/USAddress/ZIPCode0981111804
ReturnHeader/Officer/DateSigned02013-02-04
ReturnHeader/Officer/Name0William Kerechek
ReturnHeader/Officer/Phone02063983562
ReturnHeader/Officer/Title0HC Treasurer
ReturnHeader/ReturnType0990
ReturnHeader/TaxPeriodBeginDate02010-09-01
ReturnHeader/TaxPeriodEndDate02011-08-31
ReturnHeader/TaxYear02010
ReturnHeader/Timestamp02013-02-27T01:57:51-07:00

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2011 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$326,945
Liabilities
$797,785
Net assets
-$470,840
Revenue
-
Expenses
$320,285
Net income
-
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$1.90$4.84$2.94$4.23$4.44$0.20
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.32$5.06$2.74$5.18$5.78$0.60
2021XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.21$5.34$2.13$5.10$4.92$0.18
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.74$5.05$2.32$4.09$4.91$0.82
2019Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.81$5.30$1.50$6.53$5.21$1.32
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.73$5.55$2.82$8.09$7.70$0.40
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$2.55$5.76$3.22$6.49$7.13$0.64
2016Detailed filing. Detailed filing data is available for this year.$3.67$6.25$2.58$7.35$6.95$0.40
2015Detailed filing. Detailed filing data is available for this year.$4.16$7.15$2.98$7.31$6.50$0.81
2014XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$3.61$7.41$3.79$5.57$5.63$0.07
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.85$7.58$3.72$5.07
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.75$7.78$4.03$3.82
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.27$7.98$4.71$3.20
Peer Organizations

Similar nonprofits based on the same Siviq industry and scale cohort. 2011 filings • 501(c)7 • <$500k nonprofits