Form 990 for tax year 2023
Filed by LAMBDA IOTA SOCIETY INC DBA LAMBDA IOTA FRATERNITY.
Totals
- Total revenue
- $287,598
- Total expenses
- $260,364
- Contributions and grants received
- $21,137
- Grants paid
- $0
- Program service revenue
- $266,461
- Investment income
- $0
- Other revenue
- $0
- Total assets, end of year
- $1,253,477
- Total liabilities, end of year
- $1,631,639
- Net assets or fund balances, end of year
- -$378,162
- Program services expenses (Part IX)
- $247,476
- Management and general expenses
- $12,888
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $247,476
Program services were 95.1% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1f · All other contributions, gifts and grants
$21,137
-
2a · Program service revenue: OPERATION OF FRATERNITY
total $266,461 · related or exempt $266,461
Functional expenses
Part IX, the statement of functional expenses.
-
13 · Office expenses
total $1,021 · management and general $1,021
-
14 · Information technology
total $7,698 · program services $7,698
-
16 · Occupancy
total $25,733 · program services $25,733
-
20 · Interest
total $62,704 · program services $62,704
-
22 · Depreciation, depletion and amortization
total $46,423 · program services $46,423
-
23 · Insurance
total $15,690 · program services $15,690
-
24a · Other expenses: BLDG AND GROUNDS EXPENSE
total $62,099 · program services $62,099
-
24b · Other expenses: UTILITIES
total $24,929 · program services $24,929
-
24c · Other expenses: ALUMNI COMMUNICATIONS
total $11,867 · management and general $11,867
-
24d · Other expenses: BLDG SUPERVISION
total $2,200 · program services $2,200
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $2,495 · end of year $26,847
-
10a · Land, buildings and equipment: cost or other basis
$2,009,458
-
10b · Land, buildings and equipment: accumulated depreciation
$782,828
-
10c · Land, buildings and equipment, net
beginning of year $1,273,053 · end of year $1,226,630
-
22 · Loans and payables to officers and key people
beginning of year $314,000 · end of year $321,000
-
23 · Secured mortgages and notes payable
beginning of year $1,366,944 · end of year $1,310,639
-
31 · Retained earnings, endowment or other funds
beginning of year -$405,396 · end of year -$378,162
Mission and programs · 2023
Mission
OPERATION OF A LOCAL FRATERNITY.
-
OPERATION OF A LOCAL FRATERNITY ON THE CAMPUS OF THE UNIVERISTY OF VERMONT IN BURLINGTON, VERMONT.
Expenses $247,476
As filed on the 2023 return.
Listed in Part VII
-
Joel SodanoJOEL SODANO
COMMUNICATIONS DIR
- Total calculated
- $0
- Hours/week
- 10
-
John WagerJOHN WAGER
SECRETARY
- Total calculated
- $0
- Hours/week
- 6
-
Christopher GookinCHRISTOPHER GOOKIN
CHARIMANPRES
- Total calculated
- $0
- Hours/week
- 4
-
Spencer BakerSPENCER BAKER
TREASURER
- Total calculated
- $0
- Hours/week
- 12
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2023
- Filed
- 14 May 2025
- IRS schema version
- 2023v6.0
- Source object
- 202511349349302971
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