Phi Beta Sigma Fraternity INC FY2023 filing

Tax-deductible

Washington, DCCemetery / fraternalEIN 11-1709989

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Exemplify the ideals of brotherhood, scholarship and service to the general community.

Tax-exempt charity; gifts are tax-deductible.
$132K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Pay: Part VII

Before you give

FY2023 · Form 990Independent: from IRS data, not the org
Download 990
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
5 of 5
filings with a surplus
Average surplus $1.2M a year · 23% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Pay to officers and key staff
$132K
to officers and key staff · 2% of spending
Looks good: pay to officers and key staff is 2% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
8 mo
of spending, in cash
Looks good: 7.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $50K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$4.0M
36% of total assets
Looks good: liabilities are 36% of assets; 50% or less.
Pt X · Ln 26
Independent board members
20
of 20 voting members
Looks good: 20 of 20 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$7.7M
+76% vs prior year
Spent
$6.1M
Net assets
$7.0M
By yearFY2020–FY2024
Revenue
$7.7M
FY2023▲ +76%
Revenue by fiscal year
FY2020$3.7M
FY2021$5.7M
FY2022$4.4M
FY2023$7.7M
FY2024$5.0M
Expenses
$6.1M
FY2023▲ +91%
Expenses by fiscal year
FY2020$2.4M
FY2021$4.6M
FY2022$3.2M
FY2023$6.1M
FY2024$4.1M
Net assets
$7.0M
FY2023▲ +29%
Net assets by fiscal year
FY2020$3.2M
FY2021$4.3M
FY2022$5.4M
FY2023$7.0M
FY2024$8.0M

From the FY2023 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2023 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 Jan 1974.

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

Who runs it and what they're paid

29 people listed on the 990; $132K paid to officers and key staff.

Part VII, Section A · reportable compensation
International Executive Director
$131,740Pt VII · Sec A
International President
$0Pt VII · Sec A
International 1st Vice President
$0Pt VII · Sec A
2nd Vice President
$0Pt VII · Sec A
Immediate Past President
$0Pt VII · Sec A
Legal Counsel
$0Pt VII · Sec A
Great Lakes Regional Director
$0Pt VII · Sec A
Intl Second Vice Pres (as of 7/23)
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Daryl a Anderson SR$124,743$131,740$132,475$125,000—
Daryl Anderson————$121,445

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

See Phi Beta Sigma 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 15aYes

Programs and updates

Promotes brotherhood, scholarship, and community service.

Provided by the organization

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2 programs · in their own filed words · FY2023
01

Congressional Black Caucus

Forum discussion "real talk" on various subject matters pertaining to the state of the african american male.

Pt IX · col B
02

Sigma Week on Capitol Hill

Approximately 20-25 members of the fraternity meet with members of congress (20-25 congressional leaders)

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 · received and paid
Grants received · FY2023
AARPFY2023$25K
Total grants receivedfrom 3 funders$50K
See all 3 funders →
Grants paid · 33 grants · $1.3M · 2020–2024
Unitemized GrantFY2024$119,500
American Cancer Society INCGA · FY2024$25,000
NAACPMD · FY2024$22,500
Zeta Phi Beta Sorority INCDC · FY2024$20,000
Unitemized GrantFY2023$122,000
Cwm Centennial Gala LLCFY2023$25,000
Rockteen Youth FoundationTX · FY2023$25,000
One Foundation INCUT · FY2023$10,000
Unitemized GrantFY2022$101,000
John and Lilian Miles Lewis FoundationFY2022$25,000
See all 33 grants →

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$7.7M
Ln 12
Fees for servicesLn 2g$7.1M
Other incomeLn 4–11$554K
Investment incomeLn 3$38K
Money outPt IX
$6.1M
Ln 25
Owns and owesPt X
$7.0M
net assets · Ln 32
Cash and savingsLn 1–2$4.0M
Total assetsLn 16$11.0M
LiabilitiesLn 26$4.0M
PeoplePt VI, VII
29
listed · VII A
PaidVII A1
Voting boardVI 1a20
IndependentVI 1b20
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$7.1M
Investment incomeLn 3$38K
Other incomeLn 4–11$554K
Total revenueLn 12$7.7M
Assets in detailPt X, end of year
CashLn 1$3.1M
SavingsLn 2$886K
Cash and savings togetherLn 1–2$4.0M
InvestmentsLn 11–13$5.6M
Land, buildings, equipmentLn 10c$1.1M
Total assetsLn 16$11.0M
LiabilitiesLn 26$4.0M
Net assetsLn 32$7.0M
OperationsPt I, VI
EmployeesI 512
VolunteersI 650
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$9.7M$4.0M
InvestmentsLn 11–13$5.6M
Land, buildings, equipmentLn 10c$786K$1.1M
Total assetsLn 16$10.9M$11.0M
LiabilitiesLn 26$5.5M$4.0M
Net assetsLn 32$5.4M$7.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$150K
Grants to domestic individualsLn 2$122K
Pay of current officers, directors and key staffLn 5$158K
Other salaries and wagesLn 7$593K
Pension plan contributionsLn 8$9K
Other employee benefitsLn 9$134K
Payroll taxesLn 10$61K
Legal feesLn 11b$5K
Accounting feesLn 11c$43K
Other fees for servicesLn 11g$102K
Office expensesLn 13$298K
Information technologyLn 14$202K
OccupancyLn 16$31K
TravelLn 17$286K
Conferences, conventions and meetingsLn 19$157K
InterestLn 20$981
Depreciation, depletion and amortizationLn 22$26K
InsuranceLn 23$573K
Other expenses (24a–d)Ln 24$3.1M
All other expensesLn 24e$95K
Total functional expensesLn 25$6.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $5.0M$4.1M$973K$8.0M 990 PDF
FY2023 Viewing $7.7M$6.1M$1.6M$7.0M 990 PDF
FY2022 $4.4M$3.2M$1.2M$5.4M 990 PDF
FY2021 $5.7M$4.6M$1.1M$4.3M 990 PDF
FY2020 $3.7M$2.4M$1.2M$3.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2023 990 (4 parts)
Part VIII · Statement of revenue $7,721,840 across 6 lines filed
Lines not itemized here account for $301,342 of total revenue; see the IRS return.
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $6,726,116 · Excluded from tax $403,400$7,129,516
VIII-3 Investment incomeExcluded from tax $38,021$38,021
VIII-5 RoyaltiesExcluded from tax $188,378$188,378
VIII-6 Net rental income or lossExcluded from tax −$100,680−$100,680
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $165,263$165,263
VIII-12 Total revenueRelated to mission $7,027,458 · Unrelated business $0 · Excluded from tax $694,382$7,721,840
Part IX · Statement of functional expenses $6,132,782 across 20 lines filed
IX-1 Grants to domestic organizations$150,000
IX-2 Grants to domestic individuals$122,000
IX-5 Pay of current officers, directors and key staff$158,208
IX-7 Other salaries and wages$592,820
IX-8 Pension plan contributions$8,795
IX-9 Other employee benefits$134,016
IX-10 Payroll taxes$61,367
IX-11b Legal fees$5,000
IX-11c Accounting fees$43,287
IX-11g Other fees for services$102,461
IX-13 Office expenses$298,422
IX-14 Information technology$202,188
IX-16 Occupancy$31,056
IX-17 Travel$286,279
IX-19 Conferences, conventions and meetings$156,999
IX-20 Interest$981
IX-22 Depreciation, depletion and amortization$26,017
IX-23 Insurance$572,545
IX-24 Other expenses (24a–d)$3,084,967
IX-24e All other expenses$95,374
IX-25 Total functional expenses$6,132,782
Part X · Balance sheet $10,983,848 assets, 15 lines filed
X-1 Cash, non-interest-bearingStart of year $5,632,849$3,123,997
X-2 Savings and temporary cash investmentsStart of year $4,020,917$886,298
X-4 Accounts receivableStart of year $89,400$101,536
X-8 Inventories for sale or useStart of year $71,383$77,867
X-9 Prepaid expenses and deferred chargesStart of year $295,133$89,463
X-10c Land, buildings and equipment, netStart of year $785,786$1,089,262
X-12 Other securities$5,615,425
X-16 Total assetsStart of year $10,895,468$10,983,848
X-17 Accounts payable and accrued expensesStart of year $711,752$553,045
X-19 Deferred revenueStart of year $4,456,494$3,237,294
X-25 Other liabilitiesStart of year $301,752$184,570
X-26 Total liabilitiesStart of year $5,469,998$3,974,909
X-27 Net assets without donor restrictionsStart of year $5,425,470$7,008,939
X-32 Total net assets or fund balancesStart of year $5,425,470$7,008,939
X-33 Total liabilities and net assetsStart of year $10,895,468$10,983,848
Part XI · Reconciliation of net assets $7,008,939 net assets at year end
XI-1 Total revenue$7,721,840
XI-2 Total expenses$6,132,782
XI-3 Revenue less expenses$1,589,058
XI-4 Net assets at start of year$5,425,470
XI-5 Net unrealized gains (losses) on investments$32,484
XI-8 Prior period adjustments−$38,073
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$7,008,939

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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