Theta Chi Fraternity Inc
Nonprofit profile at a glance
- EIN
- 210577978
- IRS 990 coverage
- 2009–2024
- Forms available
- Form 990 2024, Form 990-N 2018
- Location
- Carmel, IN, USA
- Phone
- 3178241881
- Rating confidence
- Limited
Reported finances
- Revenue
- $7,719,729
- Expenses
- $7,670,353
- Assets
- $1,910,529
- Liabilities
- $1,090,666
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
14 people listed
Executive titles in this filing
- TOBIN B ROTH (INTERNATIONAL PRESIDENT)
- MICHAEL MAYER (EXECUTIVE DIRECTOR)
Highest reported compensation
- MICHAEL MAYER (EXECUTIVE DIRECTOR): $297,747 total reported compensation
- JIM POWELL (ASSOCIATE EXEC. DIR.): $190,997 total reported compensation
- RAY VANLANOT (CHIEF OPERATING OFFICER): $165,293 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
See schedule othe purpose of theta chi fraternity, inc., a New York corporation (the "corporation"), shall be to establish, maintain, govern, improve and promote the welfare of a fraternal order to be known as "theta chi fraternity" (the "fraternity"), which shall have for its objects: the mutual benefit and assistance of its members; the binding by closer bonds of its members one to another; the rendition of mutual assistance to its members during life and after their death to their dependents; the assisting of needy but deserving young men to obtain a higher education; the fostering of high scholastic achievement among its members; the extending of true charity to those who need such assistance; the promoting of good citizenship; the training and the developing of civic leaders; and, by all means within its power, the inculcation and the extension throughout the land of the highest ideals of honor, charity, tolerance, and true patriotism.
What it reported doing in 2024
The initiative academy's main purpose is to inspire and equip the next generation of leaders in theta chi. This event is unlike any other event offered by the fraternity. The initiative academy is designed for the unique needs and perspectives of our emerging leaders. Men who attend the initiative academy will leave changed and prepared for leadership.the initiative academy is not simply exposing men to leadership ideas. This is an opportunity for men to immerse themselves in the experience of leadership. Unlike traditional workshops and conferences where participants sit passively in a lecture format, the initiative academy will engage participants in several challenging, team-oriented exercises that will provide the backdrop for tremendous learning and growth.
Operating model
- Revenue model
- Earned-program. 94% of the money available for current operations came from fees and other program revenue.
- 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: 75
- Accountability: 86
- Sustainability: 24
- Growth: 40
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; 63rd percentile among comparable filings
- Pay-setting controls: 1 of 6 controls in place; rating input score 17
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Missing
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 6 of 9 controls in place; rating input score 67
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Fail
- Other executive compensation review process: Fail
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: 0.6%; rating input score 36; 36th percentile among comparable filings
- Total-asset coverage ratio: 0.25; rating input score 7; 7th percentile among comparable filings
- Liabilities to assets ratio: 0.57; rating input score 18; 18th percentile among comparable filings
- Officer compensation ratio: 13.5%; rating input score 21; 21st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 6.4% per year; rating input score 100; 51st percentile among comparable filings
- Asset growth: -1.7% per year; rating input score 0; 8th percentile among comparable filings
Details
- Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
- Governance: 8 of 8 board members independent · 6 of 9 filing controls reported
- Programs: 3 filed program accomplishments
- Leadership: top reported pay $298K · 14 people listed · 1 of 6 pay-setting controls reported
- Consistency: 13 of 13 current checks pass
- Schedules: 6 filed schedules · includes major donors, grants, and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 8 filed money-flow records
- Related organizations: 5 filed related-organization links
- 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.
- Review — Accountability: Governance controls: 3 of 9 not reported.
- High — Growth: Asset growth scored 0/100.
- Moderate — Sustainability: Operating margin scored 36/100.
- High — Sustainability: Total-asset coverage ratio scored 7/100.
- High — Sustainability: Liabilities to assets ratio scored 18/100.
- High — Sustainability: Officer compensation ratio scored 21/100.