OMEGA ALPHA ELDER ASSOCIATION OF ZETA PSI

EIN: 821997806 Education

Chicago, IL

Total Revenue
$7,610
Total Expenses
$25,665
Total Assets
$706,957
Net Assets
$2,621
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2017
Legal Domicile
IL
Principal Officer
Oscar Martinez
Phone
3059728192
Tax Period
2023-10-01 to 2024-09-30

OMEGA ALPHA ELDER ASSOCIATION OF ZETA PSI, founded in 2017, is a micro nonprofit in the Education sector that reported $8K in total revenue in fiscal year 2023. Revenue fell 91% from the prior year — a significant decline worth monitoring. Expenses of $26K exceeded revenue, resulting in a 237% operating deficit.

Mission

The purpose of this organization is to collect dues from its members in order to foster relationships between the active undergraduate students and the many alumni of this social club, so that they may enjoy exclusive functions reserved only for members. In the pursuit of these goals, the organization may pool resources and manpower to undertake philanthropic events and private social gatherings, and maintain a livable student house.

Program Service Accomplishments

Program 1

We maintained a club house for events, studying, and general recreation of four members. In addition, we maintained lodging in this house for four members. We were able to provide this for the entire...

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We maintained a club house for events, studying, and general recreation of four members. In addition, we maintained lodging in this house for four members. We were able to provide this for the entire year without interruption. The goal of this is to ensure members have a location to spend time together, hold meetings, and host events for members.

Program 2

We collected membership dues and pooled them in the pursuit of supporting philanthropy as well as hosting member-only social events. We maintained around sixty members over the year. We hope that...

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We collected membership dues and pooled them in the pursuit of supporting philanthropy as well as hosting member-only social events. We maintained around sixty members over the year. We hope that supporting philanthropy events and hosting member-only events serves to better bond our members in social pursuits as well as advance charitable causes. Membership number is an estimate of the average over the year, as active numbers on campus change with members graduating or moving away. Donation amount is reflective of clear spending by the organization, and does not reflect the labor and additional donations made by our members on their personal volition.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $0
Program Service Revenue $7,610
Investment Income $0
Other Revenue $0
TOTAL REVENUE $7,610

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $0
Other Expenses $25,665
TOTAL EXPENSES $25,665

Year-over-Year Comparison

2023 2022 Change
Revenue $7,610 $83,644 -0.9%
Expenses $25,665 $52,548 -0.5%
Net Income $-18,055 $31,096 -1.6%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
3
Independent Members
2
Employees
N/A
Volunteers
2

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
1
$0
Total Directors
3
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Oscar Martinez individual director, officer secretary, president 2
Officer Director
$0 $0 $0
Itai Fruchter individual director 1
Director
$0 $0 $0
Satvik Jain Individual Director 2
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 $7,610 $25,665 $706,957 $-18,055
2023 $83,644 $52,548 $723,426 $31,096
2022 $78,096 $70,159 $741,500 $7,937
2021 $80,953 $97,852 $757,887 $-16,899
2020 $110,767 $110,529 $774,773 $238
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