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← LAMBDA CORPORATION

Form 990 for tax year 2024

Filed by LAMBDA CORPORATION.

Totals

Total revenue
$110,581
Total expenses
$150,021
Contributions and grants received
$41,205
Grants paid
$0
Program service revenue
$30,987
Investment income
$714
Other revenue
$37,675
Total assets, end of year
$2,859,009
Total liabilities, end of year
$1,010,545
Net assets or fund balances, end of year
$1,848,464
Program services expenses (Part IX)
$148,742
Management and general expenses
$1,279
Fundraising expenses
$0
Program service expenses (Part III)
$148,742

Program services were 99.1% 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

    $41,205

  • 2a · Program service revenue: RENT

    total $30,987 · related or exempt $30,987

  • 3 · Investment income

    total $714 · unrelated business $714

  • 11a · Other revenue: RENT (REIMB FOR SALARI

    total $37,162 · related or exempt $37,162

  • 11b · Other revenue: FLOOD INS PROCEEDS

    total $513 · related or exempt $513

  • 11e · Other revenue, total

    $37,675

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $27,067 · program services $27,067

  • 10 · Payroll taxes

    total $11,693 · program services $11,693

  • 11c · Fees: accounting

    total $1,279 · management and general $1,279

  • 11g · Fees: other

    total $13,220 · program services $13,220

  • 20 · Interest

    total $58,647 · program services $58,647

  • 23 · Insurance

    total $18,262 · program services $18,262

  • 24a · Other expenses: HVAC MAINTENANCE

    total $11,462 · program services $11,462

  • 24b · Other expenses: ALARM SYSTEM

    total $4,572 · program services $4,572

  • 24c · Other expenses: MISC. REPAIRS

    total $2,016 · program services $2,016

  • 24d · Other expenses: MISCELLANEOUS

    total $1,803 · program services $1,803

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $207,431 · end of year $91,052

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

    $2,767,957

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

    $0

  • 10c · Land, buildings and equipment, net

    beginning of year $2,764,558 · end of year $2,767,957

  • 23 · Secured mortgages and notes payable

    beginning of year $1,011,784 · end of year $936,118

  • 24 · Unsecured notes and loans payable

    beginning of year $72,300 · end of year $74,427

  • 29 · Capital stock, trust principal or current funds

    beginning of year $0 · end of year $0

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

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $1,887,905 · end of year $1,848,464

Mission and programs · 2024

Mission

WE OWN AND MAINTAIN A FRATERNITY HOUSE AT DEPAUW UNIVERSITY TO SUPPORT EDUCATIONAL ACTIVITIES. WE OPERATE HOUSING, DINING, AND RECREATIONAL FACILITIES FOR MEMBERS

Activities or mission (Part I)

LAMBDA CORPORATION OWNS AND MAINTAINS A FRATERNITY HOUSE, PHI GAMMA DELTA, AT DEPAUW UNIVERSITY TO SUPPORT THE EDUCATIONAL PURSUITS OF OUR YOUTH.

  • OWNS AND MAINTAINS A FRATERNITY HOUSE PHI GAMMA DELTA AT DEPAUW UNIVERSITY.

    Expenses $148,742

As filed on the 2024 return.

Listed in Part VII

  • Doug Mitchell

    PRESIDENT

    Total calculated
    $0
    Hours/week
    40

  • Russell Lamore

    TREASURER

    Total calculated
    $0
    Hours/week
    5

  • Timothy Zaletel

    SECRETARY

    Total calculated
    $0
    Hours/week
    2

  • George Lortz

    DIRECTOR

    Total calculated
    $0
    Hours/week
    5

  • James Moore

    DIRECTOR

    Total calculated
    $0
    Hours/week
    2

  • Peter Fellegy

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wade Nichols

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • John Axelberg

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Steve Jacobs

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Paul Qua

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • Wesley Royce

    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
2024
Filed
27 April 2026
IRS schema version
2024v5.5
Source object
202611179349300041

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