IRS 990 Nonprofit Profile

Omega Upsilon

Omega Upsilon holds cash from the sale of a building in 2007. Prior to this sale, Omega Upsilon owned a building in Corvallis, Oregon, which housed students who attended Oregon State University ("Tenants")and were members of the Delta Tau Delta Fraternity. The Tenants paid Omega Upsilon a rental fee for the use of the building for 9 months of the year (during school). All ordinary operating expenses such as electricity, gas, water, minor repairs and maintenance, and food were the responsibility of the Tenants. Rent received from the Tenants by Omega Upsilon, was used to pay property taxes, fire and liability insurance, and major improvements to the building. The definition of a major improvement was decided by mutual consent of Omega Upsilon and the Tenants. Residual funds held at the end of the year have been retained for future purchase of a new building to house students. The objective of the Omega Upsilon Board of Trustees is to provide the above services on a voluntary basis, with