Phi Lambda Phi Fraternity Massachusetts Theta Chapter

Nonprofit profile at a glance

EIN
042092861
IRS 990 coverage
2024–2024
Forms available
Form 990 2024
Location
Boston, MA, USA
Rating
81
Verdict
STRONG
Rating confidence
Moderate
Sector
Student Sororities, Fraternities

Reported finances

Revenue
$273,900
Expenses
$243,931
Assets
$75,209
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

3 people listed

Executive titles in this filing

  • Vidur Jasuja (President)
  • Joseph Othman (Vice-President)

People named in this filing

  • Vidur Jasuja (President)
  • Joseph Othman (Vice-President)
  • Cheuk Hei Chu (Treasurer)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide comfortable living space which promotes both academic and social growth to a group of about 40 undergraduate students of the Massachusetts Institute of Technology.

What it reported doing in 2024

The organization leases and furnishes a house in Boston and permits members to live and work there throughout their undergraduate education at the Massachusetts Institute of Technology.

Operating model

Revenue model
Earned-program. 82% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 83
  • Transparency & Controls: 100
  • Accountability: 76
  • Sustainability: 51
  • Growth: NotEnoughData

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 89.1%; rating input score 89
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th 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; 63rd percentile among comparable filings
  • Governance controls: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 10.9%; rating input score 62; 62nd percentile among comparable filings
  • Total-asset coverage ratio: 0.31; rating input score 16; 16th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: Limited
  • Asset growth: Limited

Details

  • Where the money goes: 89.1% of revenue deployed · 100% of spending went to programs
  • Governance: 42 of 42 board members independent · 3 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $244K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 21 of 21 current checks pass
  • Schedules: 1 filed schedules
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

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

  • Moderate — Accountability: Governance controls: 3 of 6 not reported.
  • High — Sustainability: Total-asset coverage ratio scored 16/100.