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Lambda Iota Society Inc Dba Lambda Iota Fraternity

Organization summary

Type of Nonprofit

Designated as a Social and recreational clubs.

Donations to this organization are not tax deductible.

Details

According to its June 2023 tax filing, this nonprofit:

Reported conflict of interest transactions
Organizations must report loans, grants or business transactions with interested parties, which may include key employees and officers, their family members and any businesses in which they hold a controlling interest. These transactions must be reported on Schedule L.

Summary charts: organization finances over time

Revenue
$233k (2023)

Expenses
$252k (2023)

Total Assets
$1.28M (2023)

Total Liabilities
$1.68M (2023)

Source: Form 990 tax filings from 2011 to 2023

Tax Filings by Year

Form 990 is an information return that most organizations claiming federal tax-exempt status must file yearly with the IRS. Nonprofit Explorer has IRS digitized Form 990 data for filings processed in 2012 and later. If this organization filed an amended return, it may not be reflected below. Duplicate download links may indicate a resubmission or amendment to this organization's original return. Form 990 data is from the IRS.

Fiscal Year Ending June
2023

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$232,530
Expenses
$252,489
Net Income
-$19,959
Net Assets
-$405,396
Notable Sources of Revenue Percent of Total Revenue
Contributions $11,030
4.7%
Program Services $221,500
95.3%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,275,548
Total Liabilities $1,680,944
Net Assets -$405,396
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joel Sodano (Communications Dir) $0 $0 $0
John Wagner (Vice Chairman) $0 $0 $0
Jason Verdo (Secretary) $0 $0 $0
Christopher Gookin (Charimanpres) $0 $0 $0
Spencer Baker (Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2022

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$219,674
Expenses
$305,062
Net Income
-$85,388
Net Assets
-$385,437
Notable Sources of Revenue Percent of Total Revenue
Contributions $570
0.3%
Program Services $219,104
99.7%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,334,083
Total Liabilities $1,719,520
Net Assets -$385,437
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joel Sodano (Communications Dir) $0 $0 $0
John Wager (Vice Chairman) $0 $0 $0
Jason Verdo (Secretary) $0 $0 $0
Christopher Gookin (Charimanpres) $0 $0 $0
Spencer Baker (Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2021

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$342,025
Expenses
$429,208
Net Income
-$87,183
Net Assets
-$300,049
Notable Sources of Revenue Percent of Total Revenue
Contributions $11,861
3.5%
Program Services $330,164
96.5%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,373,009
Total Liabilities $1,673,058
Net Assets -$300,049
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
John Wager (Communications Dir) $0 $0 $0
Jason Verdo (Secretary) $0 $0 $0
Christopher Gookin (Charimanpres) $0 $0 $0
Spencer Baker (Treasurer) $0 $0 $0

Document Links

Fiscal Year Ending June
2020

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$256,950
Expenses
$237,084
Net Income
$19,866
Net Assets
-$212,866
Notable Sources of Revenue Percent of Total Revenue
Contributions $7,768
3.0%
Program Services $249,182
97.0%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,425,651
Total Liabilities $1,638,517
Net Assets -$212,866
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joel Sodano (Communications Dir) $0 $0 $0
Christopher Gookin (Charimanpres) $0 $0 $0
Spencer Baker (Treasurer) $0 $0 $0
Jason Verdo (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2019

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$225,798
Expenses
$211,433
Net Income
$14,365
Net Assets
-$232,732
Notable Sources of Revenue Percent of Total Revenue
Contributions $23,606
10.5%
Program Services $202,192
89.5%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,472,567
Total Liabilities $1,705,299
Net Assets -$232,732
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joel Sodano (Communications Dir) $0 $0 $0
Christopher Gookin (Charimanpres) $0 $0 $0
Spencer Baker (Treasurer) $0 $0 $0
Jason Verdo (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2018

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$204,855
Expenses
$207,191
Net Income
-$2,336
Net Assets
-$247,097
Notable Sources of Revenue Percent of Total Revenue
Contributions $15,321
7.5%
Program Services $189,534
92.5%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,526,739
Total Liabilities $1,773,836
Net Assets -$247,097
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joel Sodano (Communications Dir) $0 $0 $0
Christopher Gookin (Charimanpres) $0 $0 $0
Spencer Baker (Treasurer) $0 $0 $0
Jason Verdo (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2017

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$200,879
Expenses
$207,331
Net Income
-$6,452
Net Assets
-$244,761
Notable Sources of Revenue Percent of Total Revenue
Contributions $18,663
9.3%
Program Services $182,216
90.7%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,580,978
Total Liabilities $1,825,739
Net Assets -$244,761
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joel Sodano (Communications Dir) $0 $0 $0
Christopher Gookin (Charimanpres) $0 $0 $0
Spencer Baker (Treasurer) $0 $0 $0
Jason Verdo (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2016

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$180,356
Expenses
$214,824
Net Income
-$34,468
Net Assets
-$238,309
Notable Sources of Revenue Percent of Total Revenue
Contributions $8,756
4.9%
Program Services $171,600
95.1%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,651,705
Total Liabilities $1,890,014
Net Assets -$238,309
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joel Sodano (Communications Dir) $0 $0 $0
Christopher Gookin (Charimanpres) $0 $0 $0
Spencer Baker (Treasurer) $0 $0 $0
Jason Verdo (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2015

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$203,495
Expenses
$221,889
Net Income
-$18,394
Net Assets
-$203,841
Notable Sources of Revenue Percent of Total Revenue
Contributions $37,116
18.2%
Program Services $166,379
81.8%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,725,159
Total Liabilities $1,929,000
Net Assets -$203,841
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0
Other
Reported conflict of interest transactions
Compensation
Key Employees and Officers Compensation Related Other
Joel Sodano (Communications Dir) $0 $0 $0
Christopher Gookin (Charimanpres) $0 $0 $0
Spencer Baker (Treasurer) $0 $0 $0
Jon Bruce (Secretary) $0 $0 $0

Document Links

Fiscal Year Ending June
2014

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$161,190
Expenses
$182,019
Net Income
-$20,829
Net Assets
-$185,447
Notable Sources of Revenue Percent of Total Revenue
Contributions $47,554
29.5%
Program Services $113,636
70.5%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,676,343
Total Liabilities $1,861,790
Net Assets -$185,447
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0

Document Links

Fiscal Year Ending June
2013

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$114,338
Expenses
$159,824
Net Income
-$45,486
Net Assets
-$164,618
Notable Sources of Revenue Percent of Total Revenue
Contributions $8,782
7.7%
Program Services $105,556
92.3%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,605,083
Total Liabilities $1,769,701
Net Assets -$164,618
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0

Document Links

Fiscal Year Ending June
2012

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$113,878
Expenses
$135,536
Net Income
-$21,658
Net Assets
-$119,132
Notable Sources of Revenue Percent of Total Revenue
Contributions $9,526
8.4%
Program Services $104,352
91.6%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $1,462,780
Total Liabilities $1,581,912
Net Assets -$119,132
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0

Document Links

Fiscal Year Ending June
2011

Extracted Financial Data

Extracted Financial Data from Form 990
Revenue
$81,874
Expenses
$76,581
Net Income
$5,293
Net Assets
-$97,474
Notable Sources of Revenue Percent of Total Revenue
Contributions $11,691
14.3%
Program Services $70,183
85.7%
Investment Income $0
Bond Proceeds $0
Royalties $0
Rental Property Income $0
Net Fundraising $0
Sales of Assets $0
Net Inventory Sales $0
Other Revenue $0
Notable Expenses Percent of Total Expenses
Executive Compensation $0
Professional Fundraising Fees $0
Other Salaries and Wages $0
Assets/Debt
Total Assets $544,507
Total Liabilities $641,981
Net Assets -$97,474
Club or Co-Op Income
Initiation Fees & Contributions $0
Income From Public Use of Club Facilities $0

Document Links

Fiscal Year Ending June
2010

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2009

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2008

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2007

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2006

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2005

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

Fiscal Year Ending June
2004

No Extracted Financial Data

Extracted financial data is not available for the forms filed in this tax period, but Form 990 documents are available for download.

Document Links

About This Data

Nonprofit Explorer includes summary data for nonprofit tax returns and full Form 990 documents, in both PDF and digital formats.

The summary data contains information processed by the IRS during the 2012-2019 calendar years; this generally consists of filings for the 2011-2018 fiscal years, but may include older records. This data release includes only a subset of what can be found in the full Form 990s.

In addition to the raw summary data, we link to PDFs and digital copies of full Form 990 documents wherever possible. This consists of separate releases by the IRS of Form 990 documents processed by the agency, which we update regularly.

We also link to copies of audits nonprofit organizations that spent $750,000 or more in Federal grant money in a single fiscal year since 2016. These audits are copied from the Federal Audit Clearinghouse.

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Every organization that has been recognized as tax exempt by the IRS has to file Form 990 every year, unless they make less than $200,000 in revenue and have less than $500,000 in assets, in which case they have to file form 990-EZ. Organizations making less than $50,000 don’t have to file either form but do have to let the IRS they’re still in business via a Form 990N "e-Postcard."

Nonprofit Explorer has organizations claiming tax exemption in each of the 27 subsections of the 501(c) section of the tax code, and which have filed a Form 990, Form 990EZ or Form 990PF. Taxable trusts and private foundations that are required to file a form 990PF are also included. Small organizations filing a Form 990N "e-Postcard" are not included in this data.

Types of Nonprofits

There are 27 nonprofit designations based on the numbered subsections of section 501(c) of the tax code. See the list »

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