In 1935 the Phi Kappa Building Association was issued EIN 37-1108408 and the IRS designated it as a federally tax exempt organization under section 501(c)(7) of the IRS Code. As of July 31, 2025, the IRS website states that designation was revoked on January 15, 2021 for failure to file timely IRS 990 forms. There is no report that it has been reinstated.