Drexel University, Chi Epsilon (Drexel University Chapter) in Philadelphia, Pennsylvania (PA)

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Drexel University, Chi Epsilon (Drexel University Chapter)
Employer Identification Number (EIN)231352630
Name of OrganizationDrexel University
Secondary NameChi Epsilon (Drexel University Chapter)
In Care of NameJ Richard Weggel Chapter Advisor
Address3141 Chestnut Street, Philadelphia, PA 19104
ActivitiesPrivate school, School, college, trade school, etc.
SubsectionEducational Organization
Ruling Date08/1927
DeductibilityContributions are deductible
FoundationSchool
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period2011
Assets$50,000,000 to greater
Income$50,000,000 to greater
Filing Requirement990 (all other) or 990EZ return
Asset Amount$1,456,031,639
Amount of Income$1,014,902,481
Form 990 Revenue Amount$938,599,729
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: University or Technological Institute


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Amount of income in 2011: $1,014,902,481
Drexel University, Chi Epsilon (Drexel University Chapter): 

 $1,014,902,481
Other organizations performing similar types of work: 

 $938,796

Assets in 2011: $1,456,031,639
Drexel University, Chi Epsilon (Drexel University Chapter): 

 $1,456,031,639
Other organizations performing similar types of work: 

 $455,622

Expenses in 2013: $855,596,140
This organization: 

 $855,596,140
Other organizations performing similar types of work: 

 $838,837

Income to expenses ratio in 2013: 1.2
This organization: 

 1.2
Other organizations performing similar types of work: 

 1.1

Expenses allocated to program services in 2007: 85.4%
This organization: 

 85.4%
Other organizations performing similar types of work: 

 85.1%

Number of employees in 2013: 10,740
This organization: 

 10,740
Other organizations performing similar types of work: 

 7

Employees paid over $100,000 in 2013: 6.9%
This organization: 

 6.9%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2013: 13.6%
This organization: 

 13.6%
Other organizations performing similar types of work: 

 39.0%

Financial snapshot ($)

Revenue for 2013

Assets at the end of 2013

Functional expenses for 2013

Checklist
2013
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?Yes
Is the organization required to complete Schedule B, Schedule of Contributors?Yes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?No
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?Yes
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?No
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?No
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?No
Did the organization maintain collections of works of art, historical treasures, or other similar assets?Yes
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?Yes
Did the organization report an amount for land, buildings, and equipment?Yes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?Yes
Did the organization report an amount for investments-program related that is 5% or more of its total assets?No
Did the organization report an amount for other assets that is 5% or more of its total assets?No
Did the organization report an amount for other liabilities?Yes
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?Yes
Did the organization obtain separate, independent audited financial statements for the tax year?No
Was the organization included in consolidated, independent audited financial statements for the tax year?Yes
Is the organization a school described in section 170(b)(1)(A)(ii)?Yes
Did the organization maintain an office, employees, or agents outside of the United States?No
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?Yes
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?Yes
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?Yes
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?Yes
Did the organization report more than $15,000 total of fundraising event gross income and contributions?Yes
Did the organization report more than $15,000 of gross income from gaming activities?No
Did the organization operate one or more hospital facilities?No
Did the organization attach a copy of its audited financial statements?No
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?Yes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?Yes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?Yes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?Yes
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?No
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?Yes
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?No
Did the organization engage in an excess benefit transaction with a disqualified person during the year?No
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?No
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?Yes
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?Yes
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?No
A family member of a current or former officer, director, trustee, or key employee?Yes
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?Yes
Did the organization receive more than $25,000 in non-cash contributions?Yes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?Yes
Did the organization liquidate, terminate, or dissolve and cease operations?No
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?No
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?No
Was the organization related to any tax-exempt or taxable entity?Yes
Did the organization have a controlled entity within the meaning of section 512(b)(13)?Yes
Did the organization make any transfers to an exempt non-charitable related organization?No
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?No
Statements Regarding Other IRS Filings and Tax Compliance
20112013
The number reported in Box 3 of Form 109635,187
The number of Forms W-2G0
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?Yes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return10,740
Did the organization file all required federal employment tax returns?Yes
Did the organization have unrelated business gross income of $1,000 or more during the year?YesYes
Has it filed a Form 990-T for this year?Yes
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?Yes
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?No
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?No
Did the organization file Form 8886-T?No
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?No
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?No
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?Yes
Did the organization notify the donor of the value of the goods or services provided?Yes
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?No
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?No
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?No
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?No
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?No
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?No
Did the sponsoring organization make any taxable distributions under section 4966?No
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?No
Initiation fees and capital contributions$0$0
Gross receipts for public use of club facilities $0$0
Gross income from members or shareholders$0$0
Gross income from other sources$0$0
Is the organization filing Form 990 in lieu of Form 1041?No
The amount of tax-exempt interest received or accrued during the year$0
Is the organization licensed to issue qualified health plans in more than one state?No
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0
The amount of reserves on hand$0
Did the organization receive any payments for indoor tanning services during the tax year?No
Has it filed a Form 720 to report these payments?No
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
2013
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$7,156,636
Total reportable compensation from related organizations$0
Total estimated amount of other compensation from the organization and related organizations$773,877
Total number of individuals who received more than $100,000 of reportable compensation from the organization644
Total number of independent contractors who received more than $100,000 of compensation from the organization98
Statement of Revenue
20112013
Total revenue$847,601,658$938,599,729
Contributions, Gifts, Grants and Other Similar Amounts$185,526,251$127,243,677
Program Service Revenue$629,395,436$755,725,028
900099$669,369,691
Educational Support Services$72,421,148
Educational Support Services$11,840,634
611600$2,093,555
All other program service revenue$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$4,365,180$47,622,964
Income from investment of tax-exempt bond proceeds$125,808$1,336,272
Royalties$98,803$130,587
Net rental income$41,134$554,238
Gross rents (Real / Personal)$128,374 / $0$701,275 / $0
Less: rental expenses (Real / Personal)$87,240 / $0$147,037 / $0
Rental income or (loss) (Real / Personal)$41,134 / $0$554,238 / $0
Net gain/loss from sales of assets other than inventory$21,033,548$-2,209,473
Gross amount from sales of assets other than inventory (Securities / Other)$110,338,303 / $0$73,666,000 / $0
Less: cost or other basis and sales expenses (Securities / Other)$89,304,755 / $0$75,875,473 / $0
Gain or (loss) (Securities / Other)$21,033,548 / $0$-2,209,473 / $0
Net income/loss from fundraising events$-323,142$-162,611
Gross income from fundraising events$159,764$117,631
Less: direct expenses$482,906$280,242
Net income/loss from gaming activities$0$0
Net income/loss from sales of inventory$0$0
Miscellaneous Revenue$7,338,640$8,359,047
900099$5,132,380
Other Computer Related Services$3,252,762
900099$407,940
All other revenue$-434,035
Statement of Functional Expenses
20112013
Total functional expenses$745,064,433$855,596,140
Grants and other assistance to domestic organizations and domestic governments$13,905,231
Grants and other assistance to domestic individuals$167,905,130
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$34,154,918
Benefits paid to or for members$0
Compensation of current officers, directors, trustees, and key employees$4,046,200$5,743,726
Compensation not included above, to disqualified persons$0
Other salaries and wages$275,961,245$301,856,001
Pension plan accruals and contributions$17,944,729
Other employee benefits$36,425,949
Payroll taxes$18,557,724$19,822,525
Fees for services (non-employees)
Management$151,763
Legal$2,539,674
Accounting$731,118
Lobbying$487,696
Professional fundraising services$159,550$159,750
Investment management fees$567,032
Other$35,997,785
Advertising and promotion$4,107,813
Office expenses$28,320,674
Information technology$15,044,542
Royalties$1,205,567
Occupancy$41,678,762
Travel$10,329,678
Payments of travel or entertainment expenses for any federal, state, or local public officials$0
Conferences, conventions, and meetings$6,335,287
Interest$18,265,000
Payments to affiliates$35,896,407
Depreciation, depletion, and amortization$29,193,204
Insurance$2,912,774
Other expenses$6,848,836
Other expenses$5,738,882
Other expenses$3,169,580
Other expenses$1,585,800
Other expenses$6,570,307
Balance Sheet
20112013
Total assets$1,338,520,562$1,456,031,639
Cash - non-interest-bearing$28,125
Savings and temporary cash investments$46,998,063
Pledges and grants receivable, net$115,912,882
Accounts receivable, net$54,989,437
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$72,000
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0
Notes and loans receivable, net$0
Inventories for sale or use$0
Prepaid expenses and deferred charges$10,591,079
Land, buildings, and equipment: cost or other basis$722,102,625
Investments - publicly traded securities$398,164,021
Investments - other securities$78,605,000
Investments - program-related$24,991,722
Intangible assets$0
Other assets$3,576,685
Total liabilities$700,545,840$714,006,723
Accounts payable and accrued expenses$143,896,213
Grants payable$0
Deferred revenue$74,762,171
Tax-exempt bond liabilities$445,714,342$434,484,775
Escrow or custodial account liability$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0
Secured mortgages and notes payable to unrelated third parties$12,757,409$197,573
Unsecured notes and loans payable to unrelated third parties$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$60,665,991
Total net assets or fund balances$637,974,722$742,024,916
Unrestricted net assets$437,231,934
Temporarily restricted net assets$187,035,581
Permanently restricted net assets$117,757,401
Capital stock or trust principal, or current funds$0
Paid-in or capital surplus, or land, building, or equipment fund$0
Retained earnings, endowment, accumulated income, or other funds$0$0
Reason for Public Charity Status (for 2013)
The organization is not a private foundation because it is:A school described in section 170(b)(1)(A)(ii)
Number of organizations supported0
Sum of amounts of support$0
Revenue, Expenses, and Changes in Net Assets or Fund Balances
20002001200220032004200520062007
Total revenue$285,115,225$305,325,925$354,701,402$403,306,000$471,495,763$500,139,728$556,542,817$583,352,945
Contributions, gifts, grants, and similar amounts received$56,977,000$71,269,000$78,781,000$75,473,000$101,900,546$95,347,036$101,469,189$114,975,685
Contributions to donor advised funds$0$0
Direct public support$23,355,000$24,861,000$22,031,000$19,670,000$32,381,546$21,203,036$26,398,189$41,254,685
Indirect public support$0$0$0$0$0$0$0$0
Government contributions (grants)$33,622,000$46,408,000$56,750,000$55,803,000$69,519,000$74,144,000$75,071,000$73,721,000
Program service revenue including government fees and contracts$208,193,000$224,078,000$271,002,000$294,911,000$328,390,000$369,358,521$411,070,000$459,903,000
Membership dues and assessments$0$0$0$0$0$0$0$0
Interest on savings and temporary cash investments$940,000$876,000$598,000$543,000$2,856,000$3,565,675$4,313,523$2,620,807
Dividends and interest from securities$6,788,000$5,878,000$5,739,000$5,418,000$5,975,000$6,746,536$4,946,885$3,604,760
Net rental income or (loss)$0$0$0$0$0$0$0$0
Gross rents$0$0$0$0$0$0$0$0
Less: rental expenses$0$0$0$0$0$0$0$0
Other investment income$778,000$1,125,000$1,103,000$1,057,000$1,184,000$3,763,177$2,231,308$3,630,433
Gain or (loss) from sales of assets other than inventory$6,120,000$-3,094,000$-7,693,000$19,286,000$23,927,000$16,610,612$28,651,284$-8,180,942
Gross amount from sales of assets other than inventory$6,120,000$0$0$82,517,000$100,277,000$115,783,000$148,422,000$68,863,000
Less: cost or other basis and sales expenses$0$3,094,000$7,693,000$63,231,000$76,350,000$99,172,388$119,770,716$77,043,942
Net income or (loss) from special events and activities$-46,775$-47,075$15,840$-121,604$-167,783$-149,995$-369,413$-181,943
Gross revenue$64,770$66,355$169,438$86,396$107,454$116,964$232,811$106,315
Less: direct expenses other than fundraising expenses$111,545$113,430$153,598$208,000$275,237$266,959$602,224$288,258
Gross profit or (loss) from sales of inventory$0$0$0$0$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0$0$0$0$0
Less: cost of goods sold$0$0$0$0$0$0$0$0
Other revenue$5,366,000$5,241,000$5,155,562$6,739,604$7,431,000$4,898,166$4,230,041$6,981,145
Total expenses$261,382,251$289,068,925$344,785,935$378,306,000$421,172,763$470,092,728$516,083,817$581,873,945
Program services$195,924,003$223,605,569$268,159,098$293,809,333$322,440,414$368,072,710$440,386,954$497,022,280
Management and general$63,805,883$63,610,934$74,737,608$80,379,963$93,709,759$96,923,166$69,951,933$76,821,846
Fundraising$1,652,365$1,852,422$1,889,229$4,116,704$5,022,590$5,096,852$5,744,930$8,029,819
Payments to affiliates$0$0$0$0$0$0$0$0
Net assets or fund balances at end of year$328,209,000$329,369,000$350,295,000$412,560,000$460,497,000$509,128,000$585,194,000$545,301,000
Excess or (deficit) for the year$23,732,974$16,257,000$9,915,467$25,000,000$50,323,000$30,047,000$40,459,000$1,479,000
Net assets or fund balances at beginning of year$318,570,000$328,209,000$329,369,000$350,295,000$412,560,000$460,497,000$509,128,000$585,194,000
Other changes in net assets or fund balances$-14,093,974$-15,097,000$11,010,533$37,265,000$-2,386,000$18,584,000$35,607,000$-41,372,000
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$581,873,945$497,022,280$76,821,846$8,029,819
Grants paid from donor advised funds$0
Other grants and allocations$129,417,563
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$3,876,364$370,121$2,741,407$764,836
Compensation of former officers, directors, key employees, etc.$496,025$196,836$84,433$214,756
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$214,566,277$173,814,603$37,205,981$3,545,693
Pension plan contributions not included above$14,703,412$11,590,997$2,811,485$300,930
Employee benefits not included above$19,874,436$16,112,340$3,347,088$415,008
Payroll taxes$14,448,492$11,390,039$2,762,740$295,713
Professional fundraising fees$203,154$0$0$203,154
Accounting fees$376,227$13,650$362,577$0
Legal fees$1,467,284$567,592$899,692$0
Supplies$12,243,523$11,108,665$1,010,401$124,457
Telephone$2,102,647$1,235,241$822,414$44,992
Postage and shipping$1,977,433$1,379,289$424,104$174,040
Occupancy$37,736,688$34,241,994$3,456,407$38,287
Equipment rental and maintenance$4,453,502$2,118,942$2,307,714$26,846
Printing and publications$3,377,457$2,713,038$643,786$20,633
Travel$8,964,750$7,802,477$957,014$205,259
Conferences, conventions, and meetings$2,396,005$1,660,067$401,752$334,186
Interest$15,683,887$14,742,854$941,033$0
Depreciation, depletion, etc.$18,504,544$17,394,271$1,110,273$0
Other expenses not covered above$75,004,275$59,151,701$14,531,545$1,321,029
Balance Sheets
20002001200220032004200520062007
Total assets$583,607,000$584,627,000$660,321,000$754,603,000$851,895,000$915,862,000$1,011,808,000$1,105,956,000
Cash - non-interest-bearing$118,000$143,000$38,554$37,051$34,759$35,191$38,556$39,592
Savings and temporary cash investments$10,571,000$21,087,000$14,126,446$20,815,949$59,442,241$47,781,809$36,270,444$39,989,408
Accounts receivable less allowance for doubtful accounts$48,785,000$52,675,641$76,357,000$69,232,000$49,447,000$58,713,000$55,914,000$46,304,000
Pledges receivable less allowance for doubtful accounts$23,616,000$27,446,000$36,245,000$25,479,000$29,744,000$26,540,000$31,052,000$41,376,000
Grants receivable$0$0$0$0$0$250,000$0$15,514,000
Receivables from current and former officers, directors, trustees, and key employees$0$75,359$0$0$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$7,029,000$6,843,000$11,773,000$12,324,000$14,392,000$17,783,000$17,030,000$16,140,000
Inventories for sale or use$0$0$0$0$0$0$0$0
Prepaid expenses and deferred charges$4,153,000$3,924,000$5,362,000$8,153,000$9,211,000$12,937,000$20,706,000$17,614,000
Investments - publicly-traded securities$397,229,000$330,685,000
Investments - other securities$216,186,000$196,445,000$183,288,000$241,792,000$287,620,000$323,914,000$0$0
Investments - land, buildings, and equipment less accumulated depreciation$28,218,000$30,876,000$41,904,000$38,962,000$39,072,000$0$0$0
Investments - other$50,820,000$34,534,000$60,090,000$47,284,000$51,269,000$83,430,000$70,056,000$198,886,000
Land, buildings, and equipment less accumulated depreciation$193,030,000$209,881,000$230,384,000$290,274,000$311,413,000$344,478,000$383,262,000$399,381,000
Other assets, including program-related investments$1,081,000$697,000$753,000$250,000$250,000$0$250,000$27,000
Total liabilities$255,398,000$255,258,000$310,026,000$342,043,000$391,398,000$406,734,000$426,614,000$560,655,000
Accounts payable and accrued expenses$31,928,000$39,260,000$44,038,000$52,676,000$60,759,000$86,439,000$98,845,000$106,729,000
Grants payable$0$0$0$0$0$0$0$0
Deferred revenue$22,512,000$24,126,000$28,979,000$32,936,000$36,283,000$40,465,000$47,066,000$54,165,000
Loans from officers, directors, trustees, and key employees$0$0$0$0$0$0$0$0
Tax-exempt bond liabilities$186,668,000$176,512,000$214,543,000$232,407,000$256,986,000$251,516,000$245,911,000$366,148,000
Mortgages and other notes payable$220,000$0$11,876,000$13,071,000$13,795,000$3,571,000$2,374,000$195,000
Other liabilities$14,070,000$15,360,000$10,590,000$10,953,000$23,575,000$24,743,000$32,418,000$33,418,000
Total liabilities and net assets/fund balances$583,607,000$584,627,000$660,321,000$754,603,000$851,895,000$915,862,000$1,011,808,000$1,105,956,000
Total net assets or fund balances$328,209,000$329,369,000$350,295,000$412,560,000$460,497,000$509,128,000$585,194,000$545,301,000
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
20002001200220032004200520062007
Total revenue$285,115,225$305,325,925$354,701,402$403,306,000$471,495,763$500,139,728$556,542,817$583,352,945
Total revenue, gains, and other support per audited financial statements$258,049,000$288,819,000$365,762,000$444,341,000$484,475,000$545,337,000$625,771,000$608,086,000
Other expenses$-29,279,000$-15,215,000$12,781,000$41,838,000$13,905,000$46,160,313$69,864,959$26,151,055
Net unrealized gains on investments$-29,279,000$-15,215,000$12,781,000$30,523,000$-1,210,000$25,846,000$45,255,000$0
Donated services and use of facilities$0$0$0$0$0$0$0$0
Recoveries of prior year grants$0$0$0$0$0$0$0$0
Other$0$0$0$11,315,000$15,115,000$20,314,313$24,609,959$26,151,055
Other revenue$-2,212,775$1,291,925$1,720,402$803,000$925,763$963,041$636,776$1,418,000
Investment expenses$0$0$0$0$0$0$0$0
Other$-2,212,775$1,291,925$1,720,402$803,000$925,763$963,041$636,776$1,418,000
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
20002001200220032004200520062007
Total expenses$261,382,225$289,068,925$344,785,935$378,306,000$421,172,763$470,092,728$516,083,817$581,873,945
Total expenses and losses per audited financial statements$260,704,000$288,125,000$342,695,542$386,890,000$431,833,000$486,328,000$536,775,000$639,691,000
Other revenue$46,775$47,075$153,598$208,000$275,237$16,235,272$20,691,183$57,817,055
Donated services and use of facilities$0$0$0$0$0$0$0$0
Prior year adjustments$0$0$0$0$0$0$0$0
Losses$0$0$0$0$0$0$0$39,006,000
Other$46,775$47,075$153,598$208,000$275,237$16,235,272$20,691,183$18,811,055
Other expenses$725,000$991,000$2,243,991$-8,376,000$-10,385,000$0$0$0
Investment expenses$0$0$0$0$0$0$0$0
Other$725,000$991,000$2,243,991$-8,376,000$-10,385,000$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Average hours per week devoted to positionCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
40$897,500$151,336$77,888
40$339,500$111,256$25,052
40$93,750$21,728$0
40$545,324$64,605$6,939
40$341,833$50,607$6,097
40$309,000$48,671$3,767
40$365,000$48,759$7,710
40$309,000$46,280$4,762
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings37
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?No
Does the organization have a written conflict of interest policy?Yes
Former Officers, Directors, Trustees, and Key Employees That Received Compensation or Other Benefits
Loans and AdvancesCompensationContributions to employee benefit plans & deferred compensation plansExpense account and other allowances
$0$162,338$34,498$0
$0$183,003$31,753$0
$0$80,192$4,241$0
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?Yes
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?Yes
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20065,580
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$2,762,081$1,493,115$464,122,064
Program service revenue
Program service revenue 1000000$000$0$404,827,000
Program service revenue 2000000$000$0$48,873,000
Program service revenue 3000000$000$0$6,203,000
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$2,620,807$0
Dividends and interest from securities000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$3,604,760$0
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$3,630,433$0
Gain or (loss) from sales of assets other than inventory000000$0Dividends, interest, payments with respect to securities loans, annuities, income from notional principal contracts, loan commitment fees, and other substantially similar income from ordinary and routine investments excluded by section 512(b)(1)$-8,180,942$0
Net income or (loss) from special events000000$0Income from an activity that is not regularly carried on (section 512(a)(1))$-181,943$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenueOther computer-related services$2,762,08100$0$4,219,064
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
233068200100%$12,643,685$8,117,020
043721325100%$0$0
74309095913%$4,762,085$23,624,273
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$347,750$50,178$0
$354,464$50,865$0
$308,490$32,074$0
$304,402$41,770$0
$301,514$47,057$0
Total number of other employees paid over $50,0001,559
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$422,441
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?Yes
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$0
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$0
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$0
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$0
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isSchool
Support Schedule
19992000200120022003200420052006
Total$0$0$0$0$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0$0$0$0$0
Membership fees received$0$0$0$0$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0$0$0$0$0
Other income$0$0$0$0$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
Unrelated Trade or Business Income (for 2008)
IncomeExpensesNet
Total$2,773,575$12,856$2,760,719
Gross receipts or sales less returns and allowances$0$0$0
Cost of goods sold$0$0$0
Gross profit$0$0$0
Capital gain net income$37,570$0$37,570
Net gain$0$0$0
Capital loss deduction for trusts$0$0$0
Income (loss) from partnerships and S corporations$-543,166$36$-543,166
Rent income$0$0$0
Unrelated debt-financed income$0$0$0
Interest, annuities, royalties, and rents from controlled organizations$0$0$0
Investment income of a section 501(c)(7), (9), or (17) organization$0$0$0
Exploited exempt activity income$0$0$0
Advertising income$5,250$12,856$-7,606
Other income$3,273,921$0$3,273,921
Deductions Not Taken Elsewhere (for 2008)
Total deductions$3,437,413
Compensation of officers, directors, and trustees$0
Salaries and wages$2,244,606
Repairs and maintenance$0
Bad debts$0
Interest$9,492
Taxes and licenses$0
Charitable contributions$0
Depreciation$0
Depletion$0
Contributions to deferred compensation plans$0
Employee benefit programs$627,978
Excess exempt expenses$0
Excess readership costs$0
Other deductions$555,337
Unrelated business taxable income$-676,694
Unrelated business taxable income before net operating loss deduction$-676,694
Net operating loss deduction$0
Unrelated business taxable income before specific deduction$-676,694
Specific deduction$1,000
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Number of organizations performing similar types of work
Alaska1
Alabama1
Arkansas3
Arizona1
California57
Colorado1
Connecticut3
District of Columbia4
Delaware5
Florida13
Georgia5
Hawaii5
Iowa3
Illinois6
Indiana2
Kansas2
Kentucky4
Louisiana2
Massachusetts1
Maryland3
Michigan6
Minnesota1
Missouri2
Mississippi2
Montana1
North Carolina9
North Dakota1
New Hampshire1
New Jersey5
New Mexico3
New York8
Ohio3
Oklahoma1
Oregon3
Pennsylvania10
South Carolina1
Tennessee4
Texas12
Utah6
Virginia8
Vermont1
Washington6
Wisconsin1
West Virginia1
Wyoming3
International7
Total228

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