Gamma Omicron House

Nonprofit profile at a glance

EIN
341565574
IRS 990 coverage
2010–2012
Forms available
Form 990 2012
Location
Dublin, OH, USA
Rating confidence
Limited

Reported finances

Revenue
$8
Expenses
$2,040
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2012. Amounts in USD.

Leadership & pay

7 people listed

Source: IRS Form 990. Selected filing: tax year 2012. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

The purpose of the gamma omicron house company was to hold real property (land and house) and furnishings for the convenience of the members of the gamma omicron chapter of the pi kappa alpha fraternity. Managing and maintaining this property allowed fraternity members to live as a community while pursuing their college education. To fulfill this purpose, the company collected rent from the chapter, which collected rent from the house residents. The house was sold in december, 2011.

What it reported doing in 2012

The purpose of the gamma omicron house company was to hold real property (land and house) and furnishings for the convenience of the members of the gamma omicron chapter of the pi kappa alpha fraternity. Managing and maintaining this property allowed fraternity members to live as a community while pursuing their college education. To fulfill this purpose, the company collected rent from the chapter, which collected rent from the house residents. The house was sold in december, 2011. The company has remained in operation to pay outstanding bills related to the house operations. All bills were paid and remaining funds turned over to the national fraternity on january 7, 2013. The company was dissolved as of that date.

Operating model

Revenue model
Investment-supported. 100% of the money available for current operations came from recurring investment income.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 90
  • Accountability: 64
  • Sustainability: 8
  • Growth: 0

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 60th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 65th percentile among comparable filings
  • Governance controls: 1 of 7 controls in place; rating input score 14
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -25,400%; rating input score 1; 1st percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 0%; rating input score 63; 63rd percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: -161.8% per year; rating input score 0; 3rd percentile among comparable filings
  • Asset growth: -87.1% per year; rating input score 0; 3rd percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 7 of 7 board members independent · 1 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 7 of 7 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2010 to 2012

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 5 of 6 not reported.
  • High — Growth: Revenue growth scored 0/100.
  • High — Sustainability: Operating margin scored 1/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.