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Nonprofiteer
← PI KAPPA PHI PROPERTIES INC

Form 990 for tax year 2023

Filed by PI KAPPA PHI PROPERTIES INC.

Totals

Total revenue
$15,397,049
Total expenses
$9,977,355
Contributions and grants received
$5,898,145
Grants paid
$0
Program service revenue
$8,422,003
Investment income
$99,752
Other revenue
$977,149
Total assets, end of year
$43,977,882
Total liabilities, end of year
$28,942,023
Net assets or fund balances, end of year
$15,035,859
Program services expenses (Part IX)
$9,977,355
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$9,977,355

Program services were 100.0% 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

    $5,898,145

  • 1g · Noncash contributions included above

    $5,898,145

  • 2a · Program service revenue: RENT

    total $5,024,368 · related or exempt $5,024,368

  • 2b · Program service revenue: MEAL PLAN

    total $2,402,832 · related or exempt $2,402,832

  • 2c · Program service revenue: PARLOR FEES

    total $946,940 · related or exempt $946,940

  • 2d · Program service revenue: LATE FEES

    total $38,140 · related or exempt $38,140

  • 2e · Program service revenue: CAMPAIGN/CONSTRUCTION INCOME

    total $9,723 · related or exempt $9,723

  • 3 · Investment income

    total $99,752 · excluded $99,752

  • 6a · Gross rents

    real property $816,710

  • 6b · Less rental expenses

    real property $882,618

  • 6c · Rental income or loss

    real property -$65,908

  • 6d · Net rental income or loss

    total -$65,908 · unrelated business -$65,908

  • 11a · Other revenue: MISCELLANEOUS

    total $1,043,057 · related or exempt $1,043,057

  • 11e · Other revenue, total

    $1,043,057

Functional expenses

Part IX, the statement of functional expenses.

  • 7 · Other salaries and wages

    total $845,842 · program services $845,842

  • 8 · Pension plan contributions

    total $11,223 · program services $11,223

  • 9 · Other employee benefits

    total $19,870 · program services $19,870

  • 10 · Payroll taxes

    total $26,058 · program services $26,058

  • 11b · Fees: legal

    total $11,663 · program services $11,663

  • 11c · Fees: accounting

    total $186,202 · program services $186,202

  • 12 · Advertising and promotion

    total $1,120 · program services $1,120

  • 13 · Office expenses

    total $16,030 · program services $16,030

  • 14 · Information technology

    total $48,536 · program services $48,536

  • 16 · Occupancy

    total $111,001 · program services $111,001

  • 17 · Travel

    total $22,662 · program services $22,662

  • 19 · Conferences, conventions and meetings

    total $89,182 · program services $89,182

  • 20 · Interest

    total $905,700 · program services $905,700

  • 22 · Depreciation, depletion and amortization

    total $1,464,562 · program services $1,464,562

  • 23 · Insurance

    total $183,062 · program services $183,062

  • 24a · Other expenses: FOOD

    total $2,129,803 · program services $2,129,803

  • 24b · Other expenses: UTILITIES

    total $1,546,843 · program services $1,546,843

  • 24c · Other expenses: REPAIRS & MAINTENANCE

    total $1,133,743 · program services $1,133,743

  • 24d · Other expenses: BAD DEBT

    total $361,874 · program services $361,874

  • 24e · All other expenses

    total $862,379 · program services $862,379

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $880,494 · end of year $1,000,274

  • 2 · Savings and temporary cash investments

    beginning of year $6,620 · end of year $116,624

  • 4 · Accounts receivable

    beginning of year $304,927 · end of year $445,964

  • 7 · Other notes and loans receivable

    beginning of year $2,524,992 · end of year $2,701,627

  • 9 · Prepaid expenses and deferred charges

    beginning of year $141,322 · end of year $236,349

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

    $50,396,074

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

    $12,782,633

  • 10c · Land, buildings and equipment, net

    beginning of year $32,169,074 · end of year $37,613,441

  • 15 · Other assets

    beginning of year $1,133,911 · end of year $1,863,603

  • 17 · Accounts payable and accrued expenses

    beginning of year $179,381 · end of year $198,796

  • 19 · Deferred revenue

    beginning of year $77,537 · end of year $8,500

  • 23 · Secured mortgages and notes payable

    beginning of year $24,731,251 · end of year $26,762,404

  • 24 · Unsecured notes and loans payable

    beginning of year $2,498,218

  • 25 · Other liabilities

    beginning of year $59,410 · end of year $1,972,323

  • 27 · Net assets without donor restrictions

    beginning of year $8,483,012 · end of year $15,035,859

Mission and programs · 2023

Mission

PI KAPPA PHI PROPERTIES, INC IS ORGANIZED FOR PLEASURE, RECREATION AND OTHER NONPROFIT PURPOSES.SPECIFICALLY, PI KAPPA PHI PROPERTIES, INC.'S PURPOSE IS TO PROVIDE HOUSING AND MANAGEMENT EXPERTISE FOR LOCAL CHAPTERS OF PI KAPPA PHI FRATERNITY.

Activities or mission (Part I)

PI KAPPA PHI PROPERTIES, INC IS ORGANIZED FOR PLEASURE, RECREATION AND OTHER NONPROFIT PURPOSES.SPECIFICALLY, PI KAPPA PHI PROPERTIES, INC.'S PURPOSE IS TO PROVIDE HOUSING AND MANAGEMENT EXPERTISE FOR LOCAL CHAPTERS OF PI KAPPA PHI FRATERNITY

  • TO PROVIDE HOUSING ASSISTANCE TO APPROXIMATELY 10,000 MEMBERS AT 180 CHAPTERS ACROSS THE COUNTRY.

    Expenses $9,977,355 · Revenue $9,465,060

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

Listed in Part VII

  • Tony Noce

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    0

  • John Bradford

    VICE PRESIDENT - PROP MGMT

    Total calculated
    $0
    Hours/week
    0

  • Glenn Aspinwall

    VICE PRESIDENT - ACQUISITION

    Total calculated
    $0
    Hours/week
    0

  • Jason Stein

    VICE PRESIDENT - CONSTRUCTION

    Total calculated
    $0
    Hours/week
    0

  • Nick Linder

    TREASURER

    Total calculated
    $0
    Hours/week
    0

  • Trey Tipton

    SECRETARY

    Total calculated
    $0
    Hours/week
    0

  • Chet Mirabal

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Lee Nichols

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • David Dalton

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Brandon Sorensen

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Greg Linder

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Tim Hancock

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Mike Sullivan

    MEMBER

    Total calculated
    $0
    Hours/week
    0

  • Jake Henderson

    CEO

    Total calculated
    $278,431
    From this org
    $0
    From related orgs
    $270,000
    Other
    $8,431
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $225,000 related
    Bonus
    $0 + $45,000 related
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $0 + $8,431 related
    Filer's total
    $0 + $278,431 related

  • Matthew Zellars

    CFO

    Total calculated
    $94,861
    From this org
    $32,115
    From related orgs
    $56,865
    Other
    $5,881
    Hours/week
    40

  • Greg Buehner

    PRESIDENT

    Total calculated
    $153,687
    From this org
    $147,658
    From related orgs
    $0
    Other
    $6,029
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $139,658
    Bonus
    $8,000
    Other
    $0
    Deferred
    $0
    Nontaxable benefits
    $6,029
    Filer's total
    $153,687

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1a · Health or social club dues or initiation fees

Answered no

  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

No itemized grants to organizations on this return.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
20 January 2025
IRS schema version
2023v6.0
Source object
202540299349300019

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