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← LAMBDA IOTA SOCIETY INC DBA LAMBDA IOTA FRATERNITY

Form 990 for tax year 2022

Filed by LAMBDA IOTA SOCIETY INC DBA LAMBDA IOTA FRATERNITY.

Totals

Total revenue
$232,530
Total expenses
$252,489
Contributions and grants received
$11,030
Grants paid
$0
Program service revenue
$221,500
Investment income
$0
Other revenue
$0
Total assets, end of year
$1,275,548
Total liabilities, end of year
$1,680,944
Net assets or fund balances, end of year
-$405,396
Program services expenses (Part IX)
$243,805
Management and general expenses
$8,684
Fundraising expenses
$0
Program service expenses (Part III)
$243,805

Program services were 96.6% 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

    $11,030

  • 2a · Program service revenue: OPERATION OF FRATERNITY

    total $221,500 · related or exempt $221,500

Functional expenses

Part IX, the statement of functional expenses.

  • 11b · Fees: legal

    total $25 · management and general $25

  • 13 · Office expenses

    total $506 · management and general $506

  • 14 · Information technology

    total $5,939 · program services $5,939

  • 16 · Occupancy

    total $24,578 · program services $24,578

  • 20 · Interest

    total $66,904 · program services $66,904

  • 22 · Depreciation, depletion and amortization

    total $46,422 · program services $46,422

  • 23 · Insurance

    total $15,158 · program services $15,158

  • 24a · Other expenses: BLDG AND GROUNDS EXPENSE

    total $57,892 · program services $57,892

  • 24b · Other expenses: UTILITIES

    total $24,512 · program services $24,512

  • 24c · Other expenses: ALUMNI COMMUNICATIONS

    total $8,153 · management and general $8,153

  • 24d · Other expenses: SPGH FEES

    total $2,400 · program services $2,400

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $14,608 · end of year $2,495

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

    $2,009,458

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

    $736,405

  • 10c · Land, buildings and equipment, net

    beginning of year $1,319,475 · end of year $1,273,053

  • 22 · Loans and payables to officers and key people

    beginning of year $297,803 · end of year $314,000

  • 23 · Secured mortgages and notes payable

    beginning of year $1,421,717 · end of year $1,366,944

  • 31 · Retained earnings, endowment or other funds

    beginning of year -$385,437 · end of year -$405,396

Mission and programs · 2022

Mission

OPERATION OF A LOCAL FRATERNITY.

  • OPERATION OF A LOCAL FRATERNITY ON THE CAMPUS OF THE UNIVERISTY OF VERMONT IN BURLINGTON, VERMONT.

    Expenses $243,805

As filed on the 2022 return.

Listed in Part VII

  • Joel Sodano

    COMMUNICATIONS DIR

    Total calculated
    $0
    Hours/week
    6

  • John Wagner

    VICE CHAIRMAN

    Total calculated
    $0
    Hours/week
    4

  • Jason Verdo

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Christopher Gookin

    CHARIMANPRES

    Total calculated
    $0
    Hours/week
    4

  • Spencer 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
2022
Filed
10 May 2024
IRS schema version
2022v5.0
Source object
202411349349304646

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