Theta Chi Fraternity Inc
Nonprofit profile at a glance
- EIN
- 591515489
- IRS 990 coverage
- 2010–2024
- Forms available
- Form 990 2024
- Location
- Gainesville, FL, USA
- Phone
- 3523753676
- Rating
- 35
- Verdict
- REVIEW
- Rating confidence
- Moderate
Reported finances
- Revenue
- $1,836,762
- Expenses
- $1,797,189
- Assets
- $2,540,121
- Liabilities
- $1,053,726
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
4 people listed
Executive titles in this filing
- Brad Jones (President)
- Gavin Serwe (UG President)
People named in this filing
- Brad Jones (President)
- Jacob Shonkwiler (Treasurer)
- Gavin Serwe (UG President)
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
The organization exists to provide educational and social services as well as dues affordable on campus housing and meals for the benefit of the members of the fraternity.
What it reported doing in 2024
Housing - to provide affordable housing for the fraternity men in close proximity to the University of Florida campus
Operating model
- Revenue model
- Other-operating. 100% of the money available for current operations came from other operating 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
REVIEW - The filed numbers largely add up and revenue has grown recently. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.
Rating breakdown
- Financial Efficiency: 0
- Transparency & Controls: 90
- Accountability: 12
- Sustainability: 47
- Growth: 60
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 0%; rating input score 0
- Program expense ratio: 0%; rating input score 0
- Fundraising efficiency: Limited
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 63rd 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: 0%; rating input score 0; 5th percentile among comparable filings
- Governance controls: 2 of 7 controls in place; rating input score 29
- 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: Pass
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: 2.2%; rating input score 42; 42nd percentile among comparable filings
- Total-asset coverage ratio: 1.41; rating input score 54; 54th percentile among comparable filings
- Liabilities to assets ratio: 0.41; rating input score 19; 19th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings
Growth
- Program expense growth: Limited
- Revenue growth: 7.1% per year; rating input score 100; 55th percentile among comparable filings
- Asset growth: 8.5% per year; rating input score 100; 53rd percentile among comparable filings
Details
- Where the money goes: 0% of revenue deployed · 0% of spending went to programs
- Governance: 0 of 170 board members independent · 2 of 7 filing controls reported
- Programs: 3 filed program accomplishments · $1.8M in reported program spending
- Leadership: top reported pay $0 · 4 people listed
- Consistency: 30 of 41 current checks pass · 11 findings to review
- Schedules: 2 filed schedules
- Filing history: 4 filing years from 2010 to 2024
- 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.
- High — Financial Efficiency: Mission deployment rate scored 0/100.
- High — Financial Efficiency: Program expense ratio scored 0/100.
- High — Accountability: Independent voting board scored 0/100.
- High — Accountability: Governance controls: 5 of 7 not reported.
- Moderate — Sustainability: Operating margin scored 42/100.
- Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX ConferencesMeetings column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX DepreciationDepletion column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesAccounting column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX FeesForServicesLegal column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Insurance column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Interest column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX Occupancy column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OfficeExpenses column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX OtherSalariesAndWages column sum did not reconcile in the filed values.
- Moderate — Transparency & Controls: Part IX PayrollTaxes column sum did not reconcile in the filed values.
- Review — Sustainability: Total-asset coverage ratio scored 54/100.
- High — Sustainability: Liabilities to assets ratio scored 19/100.