Overview
What is Ohio Lambda Company?
Ohio Lambda Company is a nonprofit organization, classified under Section 501(C)(7) of the code, which operates as a social club. Situated in Gahanna, Ohio, the organization manages a fraternity house accommodating 25 students from Miami University in Oxford, Ohio. The primary purpose of Ohio Lambda Company is to maintain, operate, and upkeep the house, covering expenses such as utilities, repairs, and improvements. A portion of the revenue generated is allocated for educational purposes, benefitting the undergraduate members. Membership to the organization is mandatory for all undergraduate students, with those residing in the house paying additional rent along with their annual dues.
Is Ohio Lambda Company legitimate?
Ohio Lambda Company is a legitimate nonprofit organization registered as a 501(c)(7) entity. Ohio Lambda Company 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:
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What is the mission statement of Ohio Lambda Company?
Ohio Lambda Company operates as a social club, following the guidelines set by Section 501(C)(7) of the Code. Its primary purpose is to provide a living space for 25 students attending Miami University in Oxford, Ohio. The organization collects rent and membership dues from these undergraduate members to cover the expenses of maintaining, upkeeping, and operating the fraternity house. These expenses include utilities, repairs, and improvements. Additionally, a portion of the organization's revenue is allocated for educational purposes, benefiting the undergraduate members. All undergraduate students are required to pay annual dues to the organization. Those living in the house during the year also pay rent, in addition to their membership dues.
Who is the CEO of Ohio Lambda Company?
James S Mcgrath is the President of Ohio Lambda Company.
What is the revenue of Ohio Lambda Company?
Ohio Lambda Company's revenue in 2022 was $120,147.
Who are the executives of Ohio Lambda Company and what are their salaries?
There 8 volunteers at Ohio Lambda Company.
Here are 8 key members and their salaries:
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Where can I find the form 990 for Ohio Lambda Company?
Ohio Lambda Company's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Ohio Lambda Company
Ohio Lambda Company serves as a social club, operating under the guidelines of Section 501(C)(7) of the code. Its primary mission is to provide a residence for 25 students attending Miami University in Oxford, Ohio. This fraternity house serves as a home for these undergraduate members, who are required to pay annual dues to the organization. In addition to the membership fees, those residing in the house during the academic year also pay rent.
The Ohio Lambda Company utilizes the collected funds to cover the various expenses associated with maintaining and operating the house. These expenses include but are not limited to utilities, repairs, and improvements. Beyond the essential costs, a portion of the organization's revenue is allocated for educational purposes, benefiting the undergraduate members. By providing a home and supporting their education, Ohio Lambda Company aims to contribute positively to the lives of its members.
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Impact
October, 2024
Ohio Lambda Company enriches the student experience at Miami University in Oxford, Ohio, by providing a well-maintained fraternity house that serves as a social hub for its members. With a capacity for 25 undergraduate students, the fraternity house fosters community, camaraderie, and personal development among its residents.
The organization actively supports its members through rental and membership dues, which fund essential expenses such as utilities, repairs, and house improvements. This careful management ensures that the living environment remains conducive to both socializing and studying. Moreover, a portion of the revenue generated is allocated for educational purposes, further enhancing the academic success of the members.
By operating as a social club, Ohio Lambda Company not only creates a space for friendship and networking but also contributes to the overall college culture at Miami University. Its impact extends beyond the individual experiences of its members, fostering a sense of belonging and enhancing the university community as a whole.
This information is meant to be a general summary of Ohio Lambda Company. 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.
- Program Service Revenue: $76,000
- Gross Receipts: $120,147
Assets and Liabilities:
- Total Assets: $649,046
- Total Liabilities: $448,998
- Net Assets: $200,048
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
MEMBERSHIP DUES
Revenue
$76,000
Organization Details
Founding Year
2013
Phone
(614) 397-4266Principal Officer
James S Mcgrath
Main Address
205 MCCUTCHEON RD, GAHANNA, OH, 43230
NTEE Category
Code: N50 - Recreation
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