Here's how the largest fraternities earn and spend their millions

Fraternities are a staple of the American college experience, whether it’s for their social influence on campus, sprawling alumni networks, or, at times, controversies.

But behind the parties and secretive traditions are tax-exempt organizations that bring in millions of dollars each year.

Tax filings offer a partial glimpse into how the country’s biggest fraternities earn and spend their money.

Sigma Phi Epsilon Fraternity Inc., the national organization behind one of the largest fraternities across US college campuses, reported $10.6 million in revenue in fiscal 2025 and ended the year with $29.4 million in net assets, according to public tax filings.

In comparison, Chi Phi Fraternity Inc., which has about 48 active chapters nationwide and is affiliated with Cornell’s now-shuttered Chi Phi chapter, reported $1.8 million in revenue and $2.1 million in net assets in the same year, per its tax filings.

Chi Phi declined a request for comment from Business Insider.

Because many fraternities’ local chapters, philanthropic foundations, and housing groups operate independently, tax filings often show only part of their broader, more complex financial picture.

Take a look into how the US’s largest fraternities earn and spend their millions — and what little is known about their internal finances.