Iota Phi Theta Fraternity Inc
Iota Phi Theta Fraternity Inc: Strong Asset Growth, but Transparency Lacking
EIN: 223077558 · Baltimore, MD · Updated: 2026-04-04
| Metric | Value |
|---|---|
| Total Revenue | $1.6M |
| Total Expenses | $1.9M |
| Program Spending | 75% |
| Net Assets | $570K |
| Transparency Score | 70/100 |
Is Iota Phi Theta Fraternity Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Iota Phi Theta Fraternity Inc directs 75% of its spending to programs. This exceeds the industry benchmark of 65%, indicating strong mission focus.
About Iota Phi Theta Fraternity Inc
Iota Phi Theta Fraternity Inc (EIN: 223077558) is a nonprofit organization based in Baltimore, MD. The organization reported total revenue of $1.6M and total assets of $826K according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Iota Phi Theta Fraternity Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Iota Phi Theta Fraternity Inc is a mid-size nonprofit that has been operating for 29 years, with 14 years of IRS 990 filings on record (2010–2023). Revenue has grown at a compound annual rate of 13.6%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $2.2M |
| Total Expenses | $1.9M |
| Surplus / Deficit | +$273K |
| Total Assets | $724K |
| Total Liabilities | $153K |
| Net Assets | $570K |
| Operating Margin | 12.3% |
| Debt-to-Asset Ratio | 21.2% |
| Months of Reserves | 4.5 months |
Financial Health Grade: A
In 2023, Iota Phi Theta Fraternity Inc reported a surplus of $273K with revenue exceeding expenses, holds 4.5 months of operating reserves (adequate), has a debt-to-asset ratio of 21.2% (moderate leverage).
Financial Trends
Over 14 years of filings (2010–2023), Iota Phi Theta Fraternity Inc's revenue has grown at a compound annual growth rate (CAGR) of 13.6%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +120.3% | +75.1% | +30.1% |
| 2022 | +41.1% | +110.2% | +24.4% |
| 2021 | +51.2% | +63.4% | +80.8% |
| 2020 | -16.7% | -45.3% | +166.8% |
| 2019 | +33.2% | +28.5% | -21.1% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1997 |
Classification data from ProPublica Nonprofit Explorer. Additional BMF data may be available after enrichment.
AI Transparency Report
Mission Effectiveness Score
NonprofitSpending's AI analysis rates Iota Phi Theta Fraternity Inc with a Mission Score of 70 out of 100 (Good). This score reflects the organization's overall financial transparency, program spending efficiency, and governance indicators derived from IRS 990 public filings.
Spending Breakdown
- admin: 15%
- programs: 75%
- fundraising: 10%
According to IRS 990 filings, Iota Phi Theta Fraternity Inc allocates its expenses as follows: admin: 15%, programs: 75%, fundraising: 10%. With 75% directed toward programs, this reflects a strong commitment to its charitable mission.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a surplus of $273K, with revenue exceeding expenses.
- Debt-to-asset ratio: 21.2%.
Executive Compensation Analysis
Executive compensation is not explicitly detailed in the provided filings, making a precise assessment difficult.
Executive compensation data is sourced from IRS 990 filings, which require nonprofits to disclose the compensation of officers, directors, trustees, and key employees. NonprofitSpending analyzes this data relative to the organization's total revenue and sector benchmarks to assess whether executive pay is reasonable.
Red Flags
The following concerns were identified during AI analysis of Iota Phi Theta Fraternity Inc's IRS 990 filings:
- Lack of detailed program spending breakdown in available filings.
- Absence of specific executive compensation figures.
- Limited public transparency regarding impact metrics and detailed operational reports.
Strengths
The following positive indicators were identified for Iota Phi Theta Fraternity Inc:
- Consistent revenue growth over the past several years, from $471,483 in 2020 to $2,216,281 in 2023.
- Significant asset growth, increasing from $247,205 in 2020 to $723,537 in 2023.
- Positive net assets reported across all available years, indicating financial stability.
Frequently Asked Questions about Iota Phi Theta Fraternity Inc
Is Iota Phi Theta Fraternity Inc a legitimate charity?
Iota Phi Theta Fraternity Inc (EIN: 223077558) is a registered tax-exempt nonprofit based in Maryland. Our AI analysis gives it a Mission Score of 70/100. It has 14 years of IRS 990 filings on record. Total revenue: $1.6M. 3 red flags identified. 3 strengths noted. Financial health grade: A.
How does Iota Phi Theta Fraternity Inc spend its money?
Iota Phi Theta Fraternity Inc directs 75% of its spending to programs and services. Fundraising costs 10%. This exceeds the 65% industry benchmark.
Are donations to Iota Phi Theta Fraternity Inc tax-deductible?
Iota Phi Theta Fraternity Inc is registered as a tax-exempt nonprofit (EIN: 223077558). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Iota Phi Theta Fraternity Inc's spending goes to programs?
Iota Phi Theta Fraternity Inc directs 75% to programs, 10% to fundraising. This exceeds the 65% industry benchmark for efficient nonprofits.
Where is Iota Phi Theta Fraternity Inc located?
Iota Phi Theta Fraternity Inc is headquartered in Baltimore, Maryland and files with the IRS under EIN 223077558.
How many years of IRS 990 filings does Iota Phi Theta Fraternity Inc have?
Iota Phi Theta Fraternity Inc has 14 years of IRS 990 filings on record at NonprofitSpending. This extensive filing history provides a strong basis for evaluating long-term financial trends. The most recent filing shows $1.6M in total revenue.
What does Iota Phi Theta Fraternity Inc do?
Iota Phi Theta Fraternity Inc is a nonprofit organization in the Unknown sector, located in Baltimore, Maryland. It is classified under NTEE code Unknown.
How much revenue does Iota Phi Theta Fraternity Inc have?
Iota Phi Theta Fraternity Inc reported total revenue of $1,580,169. Based on 14 IRS 990 filings on record.
What are Iota Phi Theta Fraternity Inc's total assets?
Iota Phi Theta Fraternity Inc holds total assets of $825,845 as reported in IRS 990 filings.
Where is Iota Phi Theta Fraternity Inc located?
Iota Phi Theta Fraternity Inc is based in Baltimore, Maryland.
What is Iota Phi Theta Fraternity Inc's EIN?
Iota Phi Theta Fraternity Inc's Employer Identification Number (EIN) is 223077558. This is the unique tax ID assigned by the IRS for tax-exempt organizations.
What type of nonprofit is Iota Phi Theta Fraternity Inc?
Iota Phi Theta Fraternity Inc is classified under NTEE code Unknown (Unknown).
Is Iota Phi Theta Fraternity Inc a registered 501(c)(3)?
Iota Phi Theta Fraternity Inc appears in IRS records (EIN: 223077558). Check the IRS Tax Exempt Organization Search for the most current determination letter status.
Does Iota Phi Theta Fraternity Inc file IRS Form 990?
Yes, Iota Phi Theta Fraternity Inc has 14 IRS Form 990 filings on record. The most recent covers tax period 202312.
What was Iota Phi Theta Fraternity Inc's revenue in 2023?
In the 202312 filing period, Iota Phi Theta Fraternity Inc reported total revenue of $2,216,281, total expenses of $1,943,151, and net assets of $723,537.
Is Iota Phi Theta Fraternity Inc's revenue growing or declining?
Iota Phi Theta Fraternity Inc's revenue is growing. Revenue went from $1,006,079 (202212) to $2,216,281 (202312), a +120.3% change. Based on 14 filings on record.
What is Iota Phi Theta Fraternity Inc's most recent 990 filing?
The most recent IRS Form 990 filing for Iota Phi Theta Fraternity Inc covers tax period 202312. It shows revenue of $2,216,281, expenses of $1,943,151, total assets of $723,537, and liabilities of $153,347.
How much does Iota Phi Theta Fraternity Inc spend on programs vs administration?
Based on IRS 990 analysis, Iota Phi Theta Fraternity Inc allocates approximately 75% of expenses to program services, 15% to administrative costs, and 10% to fundraising. This indicates strong program focus.
Is Iota Phi Theta Fraternity Inc a trustworthy charity?
Based on AI analysis of IRS 990 data, Iota Phi Theta Fraternity Inc appears trustworthy. Mission Score: 70/100 (Good). 3 red flags identified. 3 strengths noted.
What are the red flags for Iota Phi Theta Fraternity Inc?
The following concerns were identified: Lack of detailed program spending breakdown in available filings.. Absence of specific executive compensation figures.. Limited public transparency regarding impact metrics and detailed operational reports.. These flags are based on automated analysis of IRS 990 public filings and should be verified independently.
What are Iota Phi Theta Fraternity Inc's strengths?
Positive indicators for Iota Phi Theta Fraternity Inc include: Consistent revenue growth over the past several years, from $471,483 in 2020 to $2,216,281 in 2023.. Significant asset growth, increasing from $247,205 in 2020 to $723,537 in 2023.. Positive net assets reported across all available years, indicating financial stability.. These findings are derived from AI analysis of the organization's financial filings.
How does Iota Phi Theta Fraternity Inc compensate executives?
Executive compensation is not explicitly detailed in the provided filings, making a precise assessment difficult. Executive compensation data is sourced from IRS 990 filings, which require disclosure of officer, director, and key employee pay.
How does the fraternity ensure its substantial revenue and asset growth directly translates into increased programmatic impact for its members and community initiatives?
While revenue and assets have grown significantly, the lack of detailed program spending breakdowns makes it challenging to directly link financial growth to specific programmatic outcomes. Further transparency on program expenditures would clarify this.
Given the 'c0%' in the filings, what is the organization's strategy for managing and reporting any potential lobbying activities or political contributions, if applicable?
The 'c0%' likely indicates no reported lobbying expenses in the provided filings. However, a clear policy or statement on political engagement would enhance transparency regarding this aspect.
Filing History
IRS 990 filing history for Iota Phi Theta Fraternity Inc showing financial trends over 14 years of public records:
Over 14 years of IRS 990 filings (2010–2023), Iota Phi Theta Fraternity Inc's revenue has grown by 423.3%, moving from $424K to $2.2M. Total assets increased by 88.8% over the same period, from $383K to $724K. Total functional expenses rose by 465.3%, from $344K to $1.9M. In its most recent filing year (2023), Iota Phi Theta Fraternity Inc reported a surplus of $273K, with revenue exceeding expenses. The organization holds $153K in liabilities against $724K in assets (debt-to-asset ratio: 21.2%), resulting in net assets of $570K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $2.2M | $1.9M | $724K | $153K | — | — |
| 2022 | $1.0M | $1.1M | $556K | $69K | — | View 990 |
| 2021 | $713K | $528K | $447K | $10K | — | View 990 |
| 2020 | $471K | $323K | $247K | $21K | — | — |
| 2019 | $566K | $591K | $93K | $15K | — | View 990 |
| 2018 | $425K | $460K | $117K | $15K | — | View 990 |
| 2017 | $530K | $508K | $153K | $15K | — | — |
| 2016 | $480K | $397K | $150K | $34K | — | View 990 |
| 2015 | $544K | $562K | $93K | $60K | — | View 990 |
| 2014 | $379K | $284K | $87K | $36K | — | View 990 |
| 2013 | $679K | $959K | $110K | $154K | — | View 990 |
| 2012 | $428K | $426K | $271K | $41K | — | View 990 |
| 2011 | $491K | $498K | $309K | $8K | — | View 990 |
| 2010 | $424K | $344K | $383K | $75K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $2.2M, expenses of $1.9M, and assets of $724K (revenue +120.3% year-over-year).
- 2022: Revenue of $1.0M, expenses of $1.1M, and assets of $556K (revenue +41.1% year-over-year).
- 2021: Revenue of $713K, expenses of $528K, and assets of $447K (revenue +51.2% year-over-year).
- 2020: Revenue of $471K, expenses of $323K, and assets of $247K (revenue -16.7% year-over-year).
- 2019: Revenue of $566K, expenses of $591K, and assets of $93K (revenue +33.2% year-over-year).
- 2018: Revenue of $425K, expenses of $460K, and assets of $117K (revenue -19.8% year-over-year).
- 2017: Revenue of $530K, expenses of $508K, and assets of $153K (revenue +10.4% year-over-year).
- 2016: Revenue of $480K, expenses of $397K, and assets of $150K (revenue -11.8% year-over-year).
- 2015: Revenue of $544K, expenses of $562K, and assets of $93K (revenue +43.5% year-over-year).
- 2014: Revenue of $379K, expenses of $284K, and assets of $87K (revenue -44.2% year-over-year).
- 2013: Revenue of $679K, expenses of $959K, and assets of $110K (revenue +58.8% year-over-year).
- 2012: Revenue of $428K, expenses of $426K, and assets of $271K (revenue -12.9% year-over-year).
- 2011: Revenue of $491K, expenses of $498K, and assets of $309K (revenue +15.9% year-over-year).
- 2010: Revenue of $424K, expenses of $344K, and assets of $383K.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Iota Phi Theta Fraternity Inc:
Data Sources and Methodology
This transparency report for Iota Phi Theta Fraternity Inc is generated by NonprofitSpending's AI analysis engine. The data is sourced from publicly available IRS 990 filings accessed through the ProPublica Nonprofit Explorer API and IRS electronic filing records. The Mission Score, spending breakdown, and other analytical insights are produced by artificial intelligence and should be used as one of multiple factors when evaluating a nonprofit organization.
IRS 990 forms are annual information returns that most tax-exempt organizations must file with the IRS. These forms provide detailed financial information including revenue, expenses, assets, liabilities, and compensation of officers. NonprofitSpending processes this data to provide accessible transparency reports for donors, researchers, and the general public.
Disclaimer
AI-generated analysis based on IRS public records. Not financial or legal advice. Verify information directly with the organization.