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Nonprofiteer
← THE BETA FOUNDATION A FRATERNITY HOUSE

Form 990 for tax year 2023

Filed by THE BETA FOUNDATION A FRATERNITY HOUSE.

Totals

Total revenue
$580,895
Total expenses
$712,553
Contributions and grants received
$82,716
Grants paid
$1,000
Program service revenue
$470,645
Investment income
$27,534
Other revenue
$0
Total assets, end of year
$1,415,923
Total liabilities, end of year
$247,497
Net assets or fund balances, end of year
$1,168,426
Program services expenses (Part IX)
$0
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
not reported

Program services were 0.0% 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

    $82,716

  • 2a · Program service revenue: OPERATION OF FRATERNITY

    total $470,645 · related or exempt $470,645

  • 3 · Investment income

    total $27,534 · unrelated business $27,534

Functional expenses

Part IX, the statement of functional expenses.

  • 2 · Grants to domestic individuals

    total $1,000

  • 11a · Fees: management

    total $11,000

  • 11b · Fees: legal

    total $33

  • 11c · Fees: accounting

    total $3,013

  • 13 · Office expenses

    total $3,206

  • 16 · Occupancy

    total $330,427

  • 20 · Interest

    total $11,905

  • 23 · Insurance

    total $227

  • 24a · Other expenses: HOUSEHOLD - MEALS

    total $149,349

  • 24b · Other expenses: IMPROVEMENTS

    total $102,548

  • 24c · Other expenses: HOUSEHOLD - ONGOING

    total $47,643

  • 24d · Other expenses: ALUMNI EVENTS & NEWSLETTE

    total $25,007

  • 24e · All other expenses

    total $27,195

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $109,115 · end of year $84,226

  • 2 · Savings and temporary cash investments

    beginning of year $419,968 · end of year $372,433

  • 10a · Land, buildings and equipment: cost or other basis

    $3,410,630

  • 10b · Land, buildings and equipment: accumulated depreciation

    $2,534,287

  • 10c · Land, buildings and equipment, net

    beginning of year $983,300 · end of year $876,343

  • 11 · Investments: publicly traded securities

    beginning of year $73,799 · end of year $82,421

  • 15 · Other assets

    beginning of year $500 · end of year $500

  • 17 · Accounts payable and accrued expenses

    beginning of year $16,744 · end of year $2,720

  • 23 · Secured mortgages and notes payable

    beginning of year $278,476 · end of year $244,777

  • 29 · Capital stock, trust principal or current funds

    beginning of year $22,388 · end of year $22,388

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $462,066 · end of year $462,066

  • 31 · Retained earnings, endowment or other funds

    beginning of year $807,008 · end of year $683,972

Mission and programs · 2023

Mission

OPERATION OF FRATERNITY HOUSE TO PROVIDE HOUSING AND MEALS FOR MASSACHUSETTS INSTITUTE OF TECHNOLOGY STUDENTS.

  • OPERATION OF FRATERNITY HOUSE/DORMITORY AND TO PROVIDE MEALS FOR MASSACHUSETTS INSTITUTE OF TECHNOLOGY STUDENTS.

  • ACADEMIC ASSISTANCE GRANTED TO AID STUDENTS WITH THE PURCHASE OF BOOKS AND OTHER EDUCATIONAL COSTS. FUNDED FROM SET ASIDE FUNDS FOR EDUCATIONAL PURPOSES.

  • MISCELLANEOUS EDUCATIONAL EXPENSE FOR CIVIC MEMBERSHIPS, DUES AND SUBSCRIPTIONS, COMPUTER AND FURNITURE, AND ALUMNI.

  • FOR OPERATIONS AND SUPPORT OF THE BETA FOUNDATION A FRATERNITY HOUSE.

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Nikolai Begg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Prashant Dilwali

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John E Donohue

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Matthew Van Duinon

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Todd S Harrison

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Thomas Holtey

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Thomas A Holtey

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • William W Irving

    MEMBER AT LA

    Total calculated
    $0
    Hours/week
    5

  • David Kemper

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Mark Lambert

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Nicholas D Levitt

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Yousett Marzouk

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • David K Neuberger

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • William Popik

    SECRETARY

    Total calculated
    $0
    Hours/week
    5

  • Jose A Ramos

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • George Sacerdote

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Jason P Salter

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Josiah D Seale

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Kent J Sharp

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Han Shu

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Patrick Sullivan

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Victor R Tulli

    PRESIDENT

    Total calculated
    $0
    Hours/week
    5

  • Damani O Walton

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Ariel Warszawski

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Andrew Wheeler

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

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
13 November 2024
IRS schema version
2023v5.0
Source object
202423199349314662

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