Theta Chi Fraternity Inc
Theta Chi Fraternity Inc. experiences significant asset decline amidst fluctuating revenues and expenses.
EIN: 210577978 · Carmel, IN · Updated: 2026-03-28
| Metric | Value |
|---|---|
| Total Revenue | $6.4M |
| Total Expenses | $6.7M |
| Program Spending | 70% |
| Net Assets | $821K |
| Transparency Score | 65/100 |
Is Theta Chi Fraternity Inc Legit?
Some Concerns
Assessment based on IRS 990 filings, spending patterns, and AI analysis. Not a guarantee of legitimacy. Full charity check →
Theta Chi Fraternity Inc directs 70% of its spending to programs. This meets the industry benchmark of 65% for efficient nonprofits.
About Theta Chi Fraternity Inc
Theta Chi Fraternity Inc (EIN: 210577978) is a nonprofit organization based in Carmel, IN. The organization reported total revenue of $6.4M and total assets of $2.2M according to its most recent IRS 990 filing. This transparency report provides an AI-powered analysis of Theta Chi Fraternity Inc's financial health, spending patterns, executive compensation, and overall mission effectiveness based on publicly available IRS data.
Organization Overview
Theta Chi Fraternity Inc is a mid-size nonprofit that has been operating for 86 years, with 13 years of IRS 990 filings on record (2011–2023). Revenue has grown at a compound annual rate of 7.1%.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
| Total Revenue | $5.8M |
| Total Expenses | $6.7M |
| Surplus / Deficit | $-849,606 |
| Total Assets | $1.9M |
| Total Liabilities | $1.0M |
| Net Assets | $821K |
| Operating Margin | -14.6% |
| Debt-to-Asset Ratio | 56.0% |
| Months of Reserves | 3.4 months |
Financial Health Grade: C
In 2023, Theta Chi Fraternity Inc reported a deficit of $850K with expenses exceeding revenue, holds 3.4 months of operating reserves (adequate), has a debt-to-asset ratio of 56.0% (high leverage).
Financial Trends
Over 13 years of filings (2011–2023), Theta Chi Fraternity Inc's revenue has grown at a compound annual growth rate (CAGR) of 7.1%.
| Year | Revenue Change | Expense Change | Asset Change |
|---|---|---|---|
| 2023 | +0.3% | -31.1% | -30.2% |
| 2022 | +46.0% | +114.3% | -66.5% |
| 2021 | -19.5% | -3.9% | -1.5% |
| 2020 | -13.7% | -9.8% | +2.7% |
| 2019 | +22.8% | +16.0% | +5.9% |
IRS Tax-Exempt Classification
| IRS Classification Codes | 1000 |
| IRS Ruling Date | 1940 |
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 Theta Chi Fraternity Inc with a Mission Score of 65 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: 20%
- programs: 70%
- fundraising: 10%
According to IRS 990 filings, Theta Chi Fraternity Inc allocates its expenses as follows: admin: 20%, programs: 70%, fundraising: 10%. Approximately 70% goes to programs, indicating moderate mission focus.
Key Financial Metrics (2023)
From the most recent IRS 990 filing on record:
- The organization reported a deficit of $850K, with expenses exceeding revenue.
- Debt-to-asset ratio: 56.0%.
Executive Compensation Analysis
The organization consistently reports 0% officer compensation, suggesting that executive salaries are either very low, covered by other entities, or not categorized under 'officer compensation' on the 990, which is unusual for an organization of this size with millions in revenue.
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 Theta Chi Fraternity Inc's IRS 990 filings:
- Significant net losses in recent years (e.g., $3.8 million loss in 2022, $0.8 million loss in 2023).
- Substantial decline in total assets from over $8 million in 2020 to $2.2 million currently.
- Large expense spike in 2022 ($9,661,080) without a corresponding revenue increase.
- Consistent reporting of 0% officer compensation for an organization with millions in revenue, which may obscure actual executive remuneration.
Strengths
The following positive indicators were identified for Theta Chi Fraternity Inc:
- Consistent filing of IRS Form 990s, indicating transparency in reporting.
- Historically strong revenue generation, with latest reported revenue at $6,440,364.
- Maintained positive net assets, albeit significantly reduced, indicating some financial reserves remain.
Frequently Asked Questions about Theta Chi Fraternity Inc
Is Theta Chi Fraternity Inc a legitimate charity?
Theta Chi Fraternity Inc (EIN: 210577978) is a registered tax-exempt nonprofit based in Indiana. Our AI analysis gives it a Mission Score of 65/100. It has 13 years of IRS 990 filings on record. Total revenue: $6.4M. 4 red flags identified. 3 strengths noted. Financial health grade: C.
How does Theta Chi Fraternity Inc spend its money?
Theta Chi Fraternity Inc directs 70% of its spending to programs and services. Fundraising costs 10%. This meets the 65% industry benchmark.
Are donations to Theta Chi Fraternity Inc tax-deductible?
Theta Chi Fraternity Inc is registered as a tax-exempt nonprofit (EIN: 210577978). Donations to most 501(c)(3) organizations are tax-deductible. Consult a tax professional for your specific situation.
What percentage of Theta Chi Fraternity Inc's spending goes to programs?
Theta Chi Fraternity Inc directs 70% to programs, 10% to fundraising. This meets the 65% industry benchmark for efficient nonprofits.
Where is Theta Chi Fraternity Inc located?
Theta Chi Fraternity Inc is headquartered in Carmel, Indiana and files with the IRS under EIN 210577978.
How many years of IRS 990 filings does Theta Chi Fraternity Inc have?
Theta Chi Fraternity Inc has 13 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 $6.4M in total revenue.
Is Theta Chi Fraternity Inc. a good charity?
While the organization consistently files its 990s and reports 0% officer compensation, its recent financial performance shows significant net losses in 2022 and 2023, and a substantial decline in assets from over $8 million to $2.2 million. This raises concerns about financial stability, though the specific nature of its programs (fraternity-related) means 'good charity' might be evaluated differently than for a typical public charity.
Why have the assets decreased so dramatically?
The assets have decreased from a high of $8,100,718 in 2020 to $2,208,005 currently. This decline coincides with periods of expenses significantly exceeding revenue, particularly in 2022 where expenses were $9,661,080 against $5,783,656 in revenue, and in 2023 with expenses of $6,651,701 against $5,802,095 in revenue. This suggests the organization has been drawing down its reserves to cover operational costs.
What caused the large expense spike in 2022?
In 2022, expenses surged to $9,661,080, significantly higher than previous years (e.g., $4,508,192 in 2021). Without detailed program service expense breakdowns from the 990, it's difficult to pinpoint the exact cause, but such a large increase warrants further investigation into specific program activities, administrative costs, or one-time expenditures.
Filing History
IRS 990 filing history for Theta Chi Fraternity Inc showing financial trends over 13 years of public records:
Over 13 years of IRS 990 filings (2011–2023), Theta Chi Fraternity Inc's revenue has grown by 128%, moving from $2.5M to $5.8M. Total assets decreased by 49.4% over the same period, from $3.7M to $1.9M. Total functional expenses rose by 187.1%, from $2.3M to $6.7M. In its most recent filing year (2023), Theta Chi Fraternity Inc reported a deficit of $850K, with expenses exceeding revenue. The organization holds $1.0M in liabilities against $1.9M in assets (debt-to-asset ratio: 56.0%), resulting in net assets of $821K.
| Year | Revenue | Expenses | Assets | Liabilities | Officer Comp. % | |
|---|---|---|---|---|---|---|
| 2023 | $5.8M | $6.7M | $1.9M | $1.0M | — | View 990 |
| 2022 | $5.8M | $9.7M | $2.7M | $1.0M | — | View 990 |
| 2021 | $4.0M | $4.5M | $8.0M | $2.4M | — | — |
| 2020 | $4.9M | $4.7M | $8.1M | $2.4M | — | — |
| 2019 | $5.7M | $5.2M | $7.9M | $2.4M | — | View 990 |
| 2018 | $4.6M | $4.5M | $7.4M | $2.5M | — | View 990 |
| 2017 | $4.5M | $4.4M | $6.9M | $2.1M | — | View 990 |
| 2016 | $4.1M | $3.9M | $6.8M | $2.3M | — | View 990 |
| 2015 | $4.3M | $3.9M | $6.6M | $2.3M | — | View 990 |
| 2014 | $3.7M | $3.6M | $6.9M | $2.7M | — | View 990 |
| 2013 | $3.2M | $3.2M | $4.2M | $305K | — | View 990 |
| 2012 | $2.7M | $2.4M | $4.1M | $318K | — | View 990 |
| 2011 | $2.5M | $2.3M | $3.7M | $149K | — | View 990 |
Year-by-Year Financial Summary
- 2023: Revenue of $5.8M, expenses of $6.7M, and assets of $1.9M (revenue +0.3% year-over-year).
- 2022: Revenue of $5.8M, expenses of $9.7M, and assets of $2.7M (revenue +46.0% year-over-year).
- 2021: Revenue of $4.0M, expenses of $4.5M, and assets of $8.0M (revenue -19.5% year-over-year).
- 2020: Revenue of $4.9M, expenses of $4.7M, and assets of $8.1M (revenue -13.7% year-over-year).
- 2019: Revenue of $5.7M, expenses of $5.2M, and assets of $7.9M (revenue +22.8% year-over-year).
- 2018: Revenue of $4.6M, expenses of $4.5M, and assets of $7.4M (revenue +2.4% year-over-year).
- 2017: Revenue of $4.5M, expenses of $4.4M, and assets of $6.9M (revenue +10.7% year-over-year).
- 2016: Revenue of $4.1M, expenses of $3.9M, and assets of $6.8M (revenue -3.8% year-over-year).
- 2015: Revenue of $4.3M, expenses of $3.9M, and assets of $6.6M (revenue +14.7% year-over-year).
- 2014: Revenue of $3.7M, expenses of $3.6M, and assets of $6.9M (revenue +17.6% year-over-year).
- 2013: Revenue of $3.2M, expenses of $3.2M, and assets of $4.2M (revenue +16.4% year-over-year).
- 2012: Revenue of $2.7M, expenses of $2.4M, and assets of $4.1M (revenue +6.5% year-over-year).
- 2011: Revenue of $2.5M, expenses of $2.3M, and assets of $3.7M.
View Individual Filing Years
Explore detailed financial data from each IRS 990 filing year for Theta Chi Fraternity Inc:
Data Sources and Methodology
This transparency report for Theta Chi 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.