Theta Chi of Tallahassee Inc

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

2004

Legal Domicile

Principal Officer

Steven Mudder

Phone

4045187883

Tax Period

2023-01-01 to 2023-12-31

Theta Chi of Tallahassee Inc, founded in 2004, is a small nonprofit in the Education sector that reported $350K in total revenue in fiscal year 2023. Revenue surged 659% from the prior year, signaling strong growth momentum. Expenses of $302K left a modest 14% surplus.

Program Service Accomplishments

Program 1

Expenses: $219,790 Revenue: $219,790

Theta Chi of Tallahassee, Inc. collects rent directly from undergraduate memebrs of Theta Chi Fraternity and the full amount collected is used to offset the lease payments to the Chapter House...

Theta Chi of Tallahassee, Inc. collects rent directly from undergraduate memebrs of Theta Chi Fraternity and the full amount collected is used to offset the lease payments to the Chapter House property owner. Theta Chi of Tallahassee performs this as service for undergraduate members of Theta Chi Fraternity at Florida State University.

Program 2

Expenses: $51,353 Revenue: $51,353

Theta Chi of Tallahassee, Inc. collects utility payments directly from undergraduate memebrs of Theta Chi Fraternity and the full amount collected is used to pay the full utilities bill for the...

Theta Chi of Tallahassee, Inc. collects utility payments directly from undergraduate memebrs of Theta Chi Fraternity and the full amount collected is used to pay the full utilities bill for the Chapter House of Theta Chi Fraternity at Florida State University. Theta Chi of Tallahassee performs this as service for undergraduate members of Theta Chi Fraternity at Florida State University.

Program 3

Expenses: $10,598

Theta Chi of Tallahasee, Inc. maintains an escrow account to hold undergraduate members of Theta Chi Fraternity at Florida State University security deposits for the members that live at the Chapter House. This is required by Florida Law. Security deposits are collected before undergraduate tenants move in during the Fall semester and are paid out back to the undergraduate tenants upon move out in the following Summer, less any repairs required for their individual unit.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $49,181

Program Service Revenue $288,403

Investment Income $12,878

Other Revenue $0

TOTAL REVENUE $350,462

Expense Breakdown

Grants Paid $0

Salaries & Benefits $0

Fundraising Expenses $0

Program Expenses $296,425

Other Expenses $301,738

TOTAL EXPENSES $301,738

Year-over-Year Comparison

	2023	2022	Change
Revenue	$350,462	$46,202	+6.6%
Expenses	$301,738	$14,443	+19.9%
Net Income	$48,724	$31,759	+0.5%

Key Indicators

✗ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✗ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

N/A

Employees

N/A

Volunteers

N/A

Governance Policies

✗ Conflict of Interest Policy

✗ Whistleblower Policy

✗ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✗ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
Michael Forslund	Director / President	2.00	Director	$0	$0	$0
Steven Mudder	Director / Vice President	8.00	Director	$0	$0	$0
Allen Hallas	Director / External Vice President	2.00	Director	$0	$0	$0
Donald Ramsden	Director / Secretary	1.00	Director	$0	$0	$0
Ken Synder	Director / Treasurer	1.00	Director	$0	$0	$0
Courtney Ashburn	Director	0.20	Director	$0	$0	$0
Andrew Rubinacci	Director	0.40	Director	$0	$0	$0
William Schack	Director	0.20	Director	$0	$0	$0
Robert Johnson	Director	0.20	Director	$0	$0	$0
Robert Holroyd	Director	0.10	Director	$0	$0	$0
Brian Keri	Director	0.10	Director	$0	$0	$0

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$350,462	$301,738	$515,544	$48,724
2021	$41,008	$85,646	$417,037	$-44,638
2020	$259,909	$211,809	$2,059,794	$48,100
2019	$344,311	$340,914	$2,050,421	$3,397