Overview
What is Fraternity Managers Association?
The Fraternity Managers Association, located in Kingston, Rhode Island, serves as a collective body that manages the finances and business operations of various fraternity houses. By utilizing a bidding process, this association ensures that each member house can procure goods and services at the most affordable prices. Moreover, they facilitate the collection of housing costs from students, thereby streamlining financial management within the fraternities. This nonprofit organization boasts a dedicated workforce of six individuals, contributing to the smooth functioning of the association.
Is Fraternity Managers Association legitimate?
Fraternity Managers Association is a legitimate nonprofit organization registered as a 501(c)(3) entity. Fraternity Managers Association submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
Executive Compensation: $133,487
Professional Fundraising Fees: $0
Other Salaries and Wages: $21,622
For more financial information, click here
What is the mission statement of Fraternity Managers Association?
The Fraternity Managers Association's primary mission involves managing funds and business activities. By utilizing a bidding process for bulk purchasing, they help their member fraternity houses procure goods and services at the most affordable prices. They also handle the collection of housing costs from students. This association's operations aim to provide cost-effective solutions for its members, ensuring they can manage their financial resources effectively.
Who is the CEO of Fraternity Managers Association?
Richard Young is the Fma Director of Fraternity Managers Association.
What is the revenue of Fraternity Managers Association?
Fraternity Managers Association's revenue in 2022 was $395,691.
Who are the executives of Fraternity Managers Association and what are their salaries?
The average compensation at Fraternity Managers Association during 2022 was $25,852. There are 6 employees at Fraternity Managers Association.
Here are 12 key members and their salaries:
- Compensation: $77,668
- Related: $0
- Other: $7,219
- Compensation: $55,819
- Related: $0
- Other: $5,188
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
- Related: $0
- Other: $0
Where can I find the form 990 for Fraternity Managers Association?
Fraternity Managers Association's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Fraternity Managers Association
The Fraternity Managers Association is dedicated to managing funds and overseeing business activities for its member fraternities. By implementing a bidding process for bulk purchasing, each house can procure goods and services at the most affordable prices or fees available. Additionally, the association is responsible for collecting housing costs from students, ensuring financial management for these fraternity houses. The Fraternity Managers Association's mission is to optimize operational efficiency and financial stability for its member organizations, ensuring they can provide a high-quality living and learning environment for their students.
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Impact
October, 2024
The Fraternity Managers Association plays a crucial role in optimizing the financial and operational efficiency of member houses. By facilitating a structured bidding process for bulk purchasing, the Association enables its members to procure goods and services at the lowest prevailing costs. This not only reduces expenses for each house but also fosters better budget management and resource allocation.
Moreover, the Association streamlines the collection of housing costs from students, ensuring a more efficient and organized financial process. This support results in improved financial stability for member houses, allowing them to focus more on their educational and community goals. Overall, the Fraternity Managers Association significantly enhances the economic sustainability and operational effectiveness of its member organizations.
This information is meant to be a general summary of Fraternity Managers Association. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $51,605
- Program Service Revenue: $290,240
- Gross Receipts: $650,286
Assets and Liabilities:
- Total Assets: $633,214
- Total Liabilities: $0
- Net Assets: $633,214
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
SERVICE FEES
Revenue
$290,240
Organization Details
Founding Year
1982
Phone
(401) 874-2557Principal Officer
Richard Young
Main Address
34 LOWER COLLEGE RD UNIV OF RI, KINGSTON, RI, 02881
NTEE Category
Code: B83 - Education
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