Fraternities can bring in millions of dollars. Here's where all that money comes from — and goes.

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.

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.

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

Every semester, thousands of students rush to join fraternities across the US.

Recruitment brings new dues-paying members to Greek life organizations, reaching thousands of students across college campuses.

That same semester, nearly one in three full-time undergraduate men at the school's main Oxford campus belonged to a fraternity.

Member dues are often the most reliable source of income for local fraternity chapters, but how much students pay and where that money goes can vary widely across campuses and chapters.

The university adds that the organizations set and collect their own dues independently.

Contributions, including alumni gifts, can be another source of income for national Greek organizations.

In the fiscal year ending June 2025, Sigma Alpha Epsilon Fraternity, the national organization's tax-exempt entity, reported $2.82 million in contributions, accounting for 29.4% of its $9.61 million in total revenue, according to its tax filings.

Some of the most valuable real estate in college towns across the US is located on the edges of campus, at the grand properties that house fraternities and sororities.