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Sigma Phi Epsilon Fraternity INC FY2021 filing

Not tax-deductible

Boston, MA501(c)(7)Mutual / membership EIN 04-2123081Revenue $6K in FY2021

On file with the IRSspe.mit.edu518 Beacon St, 02215-2303 · Boston, MATax-exempt since Mar 1967

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University Fraternity

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 5
filings with a surplus
Average deficit $13K a year · 35% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
72 mo
of spending, in cash
Plus $62K in investments, Pt X · Ln 11–13
Looks good: 72.5 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$45
0.04% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 6 voting members
Concern: none of 6 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6K
-91% vs prior year
Spent
$6K
Net assets
$114K
By yearFY2020–FY2024
Revenue
$6K
FY2021▼ -91%
Tap a bar for its year
Revenue by fiscal year
FY2020$72K
FY2021$6K
FY2022$113K
FY2023$3
FY2024$3
Expenses
$6K
FY2021▼ -94%
Tap a bar for its year
Expenses by fiscal year
FY2020$101K
FY2021$6K
FY2022$131K
FY2023$16K
FY2024$4K
Net assets
$114K
FY2021▲ +12%
Tap a bar for its year
Net assets by fiscal year
FY2020$102K
FY2021$114K
FY2022$99K
FY2023$77K
FY2024$73K

From the FY2021 Form 990 (year ending August 2021) · see the original

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You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Mar 1967.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

6 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Ari Grayzel
VP Facilities
$0Pt VII · Sec A
Juliana Drozd
VP Finance
$0Pt VII · Sec A
Megan Cooper
VP Development
$0Pt VII · Sec A
Aniekan Umoren
VP Recruitment
$0Pt VII · Sec A
Dan Schafer
VP Prograsming
$0Pt VII · Sec A
See Sigma Phi Epsilon Fraternity INC executive salaries →

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides temporary housing for MIT students during dormitory renovations.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Housing, meals and activities for sigma phi epsilon chapter members that are students of the massachusetts institute of technology.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 1 grant · $64K · 2021–2021
Sigma Phi Epsilon Educational FoundationVA · FY2021$64,240

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$6K
Ln 12
Fees for servicesLn 2g$5K
Gifts and grantsLn 1h$1K
Other incomeLn 4–11$360
Money outPt IX
$6K
Ln 25
Owns and owesPt X
$114K
net assets · Ln 32
Cash and savingsLn 1–2$35K
Total assetsLn 16$114K
LiabilitiesLn 26$45
PeoplePt VI, VII
6
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1K
Fees for servicesLn 2g$5K
Investment incomeLn 3$3
Other incomeLn 4–11$360
Total revenueLn 12$6K
Assets in detailPt X, end of year
CashLn 1$25K
SavingsLn 2$10K
Cash and savings togetherLn 1–2$35K
InvestmentsLn 11–13$62K
Land, buildings, equipmentLn 10c$17K
Total assetsLn 16$114K
LiabilitiesLn 26$45
Net assetsLn 32$114K
OperationsPt I, VI
EmployeesI 50
VolunteersI 640
Fiscal year endsHeaderAugust
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$34K$35K
InvestmentsLn 11–13$50K$62K
Land, buildings, equipmentLn 10c$21K$17K
Total assetsLn 16$105K$114K
LiabilitiesLn 26$3K$45
Net assetsLn 32$102K$114K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$510
Office expensesLn 13$22
InterestLn 20$8
Depreciation, depletion and amortizationLn 22$2K
Other expenses (24a–d)Ln 24$3K
All other expensesLn 24e$149
Total functional expensesLn 25$6K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3$4K−$4K$73K 990 PDF
FY2023 $3$16K−$16K$77K 990 PDF
FY2022 $113K$131K−$18K$99K 990 PDF
FY2021 Viewing $6K$6K$600$114K 990 PDF
FY2020 $72K$101K−$30K$102K 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $6,413 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$1,100
I-9 Program service revenuePrior year $76,993$4,950
I-10 Investment incomePrior year $5$3
I-11 Other revenuePrior year −$5,278$360
I-12 Total revenuePrior year $71,720$6,413
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $101,456$5,813
I-18 Total expensesPrior year $101,456$5,813
I-19 Revenue less expensesPrior year −$29,736$600
Part VI · Governance 0 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members0
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $6,413 across 6 lines filed
VIII-1d Related organizations$1,100
VIII-1h Total contributions, gifts and grants$1,100
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $4,950$4,950
VIII-3 Investment incomeUnrelated business $3$3
VIII-6 Net rental income or lossUnrelated business $360$360
VIII-12 Total revenueRelated to mission $4,950 · Unrelated business $363 · Excluded from tax $0$6,413
Part IX · Statement of functional expenses $5,813 across 6 lines filed
IX-11c Accounting fees$510
IX-13 Office expenses$22
IX-20 Interest$8
IX-22 Depreciation, depletion and amortization$2,459
IX-24 Other expenses (24a–d)$2,665
IX-24e All other expenses$149
IX-25 Total functional expenses$5,813
Part X · Balance sheet $114,099 assets, 10 lines filed
X-1 Cash, non-interest-bearingStart of year $23,249$24,720
X-2 Savings and temporary cash investmentsStart of year $10,383$10,386
X-10c Land, buildings and equipment, netStart of year $20,581$17,117
X-12 Other securitiesStart of year $50,440$61,876
X-16 Total assetsStart of year $104,653$114,099
X-25 Other liabilitiesStart of year $2,583$45
X-26 Total liabilitiesStart of year $2,583$45
X-27 Net assets without donor restrictionsStart of year $102,070$114,054
X-32 Total net assets or fund balancesStart of year $102,070$114,054
X-33 Total liabilities and net assetsStart of year $104,653$114,099
Part XI · Reconciliation of net assets $114,054 net assets at year end
XI-1 Total revenue$6,413
XI-2 Total expenses$5,813
XI-3 Revenue less expenses$600
XI-4 Net assets at start of year$102,070
XI-9 Other changes in net assets$11,384
XI-10 Net assets at end of year$114,054

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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