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Phi Theta Kappa Foundation FY2022 filing

Tax-deductible

Jackson, MS501(c)(3)Education EIN 20-5469890Revenue $2.6M in FY2022

On file with the IRSptkfoundation.org1625 Eastover Dr, 39211-6431 · Jackson, MSTax-exempt since Jul 2008Publicly supported charity — 170(b)(1)(A)(vi)

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The purpose of Phi Theta Kappa Foundation is to secure the financial resources to support the values, vision, and priorities of the Phi Theta Kappa honor society.

501(c)(3) charity; gifts are tax-deductible.
82¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2022 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
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
4 of 5
filings with a surplus
Average surplus $244K a year · 8% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
82%
of spending
Looks good: 82% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
4 mo
of spending, in cash
Plus $11.3M in investments, Pt X · Ln 11–13
Looks good: 4.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $284K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$206K
2% of total assets
Looks good: liabilities are 2% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 9 voting members
Looks good: 7 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$2.6M
-35% vs prior year
Spent
$2.4M
To programs
82%
Net assets
$12.0M
By yearFY2020–FY2024
Revenue
$2.6M
FY2022▼ -35%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.4M
FY2021$4.0M
FY2022$2.6M
FY2023$2.6M
FY2024$3.3M
Expenses
$2.4M
FY2022▼ -42%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.9M
FY2021$4.2M
FY2022$2.4M
FY2023$2.1M
FY2024$3.0M
Net assets
$12.0M
FY2022▼ -16%
Tap a bar for its year
Net assets by fiscal year
FY2020$13.6M
FY2021$14.3M
FY2022$12.0M
FY2023$13.7M
FY2024$14.8M

From the FY2022 Form 990 · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 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 Jul 2008.

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

Where the money goes

82 cents of each dollar spent went to programs.

Program services 82% · $2.0M Management & general 11% · $260K Fundraising 7% · $169K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Dr George Boggs
International Honorary Mem
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Phi Theta Kappa Foundation 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

Provides financial support for Phi Theta Kappa Honor Society's goals and values.

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Provided by the organization

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1 program · $2.0M · in their own filed words · FY2022
01

The phi theta kappa foundation's purpose is to raise and oversee the voluntary private support of time, talent, and financial contributions to support and advance the mission, vision and priorities of phi theta kappa honor society.

$2.0Mprogram expense

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 · FY2025
Bower FoundationFY2025$284K
Total grants receivedfrom 1 funder$284K
Grants paid · 5 grants · $10.5M · 2020–2024
Phi Theta Kappa Honor SocietyMS · FY2024$2,102,888
Phi Theta Kappa Honor SocietyMS · FY2023$1,221,014
Phi Theta Kappa Honor SocietyMS · FY2022$1,844,564
Phi Theta Kappa Honor SocietyMS · FY2021$3,398,049
Phi Theta Kappa Honor SocietyMS · FY2020$1,940,977

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$2.6M
Ln 12
Gifts and grantsLn 1h$2.1M
Investment incomeLn 3$468K
Other incomeLn 4–11$30K
Money outPt IX
$2.4M
Ln 25
Programscol B$2.0M
Managementcol C$260K
Fundraisingcol D$169K
Owns and owesPt X
$12.0M
net assets · Ln 32
Cash and savingsLn 1–2$864K
Total assetsLn 16$12.3M
LiabilitiesLn 26$206K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$2.1M
Noncash giftsLn 1g$450K
Fundraising eventsLn 1c$31K
Investment incomeLn 3$468K
Other incomeLn 4–11$30K
Gains on assetsLn 7$219K
Total revenueLn 12$2.6M
Assets in detailPt X, end of year
CashLn 1$836K
SavingsLn 2$27K
Cash and savings togetherLn 1–2$864K
InvestmentsLn 11–13$11.3M
Other assetsLn 15$10K
Total assetsLn 16$12.3M
LiabilitiesLn 26$206K
Net assetsLn 32$12.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$1.5M$864K
InvestmentsLn 11–13$13.7M$11.3M
Total assetsLn 16$15.5M$12.3M
LiabilitiesLn 26$1.2M$206K
Net assetsLn 32$14.3M$12.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$1.8M$1.8M
Other salaries and wagesLn 7$347K$78K$132K$136K
Pension plan contributionsLn 8$17K$4K$7K$7K
Other employee benefitsLn 9$25K$7K$11K$7K
Payroll taxesLn 10$25K$6K$10K$9K
Accounting feesLn 11c$19K$19K
Investment management feesLn 11f$48K$48K
Advertising and promotionLn 12$8K$6K$378$2K
Office expensesLn 13$587$93$494
OccupancyLn 16$9K$3K$3K$3K
TravelLn 17$6K$3K$366$2K
Depreciation, depletion and amortizationLn 22$13K$7K$6K
Other expenses (24a–d)Ln 24$68K$47K$17K$3K
All other expensesLn 24e$15K$7K$7K$872
Total functional expensesLn 25$2.4M$2.0M$260K$169K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $3.3M$3.0M$322K$14.8M 990 PDF
FY2023 $2.6M$2.1M$474K$13.7M 990 PDF
FY2022 Viewing $2.6M$2.4M$141K$12.0M 990 PDF
FY2021 $4.0M$4.2M−$222K$14.3M 990 PDF
FY2020 $3.4M$2.9M$508K$13.6M 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 M · Noncash O · Explanations
See the full FY2022 990 (6 parts)
Part I · Summary $2,585,211 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $3,406,728$2,087,133
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $551,936$467,814
I-11 Other revenuePrior year $31,530$30,264
I-12 Total revenuePrior year $3,990,194$2,585,211
I-13 Grants and similar amounts paidPrior year $3,398,049$1,844,564
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $501,858$414,520
I-16a Professional fundraising feesPrior year $784$0
I-17 Other expensesPrior year $311,516$184,993
I-18 Total expensesPrior year $4,212,207$2,444,077
I-19 Revenue less expensesPrior year −$222,013$141,134
Part VI · Governance 7 of 9 board members independent, no flags
VI-1a Voting members of the governing body9
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $2,585,211 across 9 lines filed
VIII-1c Fundraising events$31,177
VIII-1f All other contributions, gifts and grants$2,055,956
VIII-1g Noncash contributions (included above)$449,930
VIII-1h Total contributions, gifts and grants$2,087,133
VIII-3 Investment incomeExcluded from tax $248,937$248,937
VIII-7 Net gain or loss on sales of assetsRelated to mission $218,877$218,877
VIII-8 Net income from fundraising eventsExcluded from tax $6,248$6,248
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $5,000 · Unrelated business $19,016$24,016
VIII-12 Total revenueRelated to mission $223,877 · Unrelated business $19,016 · Excluded from tax $255,185$2,585,211
Part IX · Statement of functional expenses $2,444,077 across 14 lines filed
IX-1 Grants to domestic organizationsPrograms $1,844,564$1,844,564
IX-7 Other salaries and wagesPrograms $78,488 · Management $132,409 · Fundraising $135,700$346,597
IX-8 Pension plan contributionsPrograms $4,226 · Management $6,568 · Fundraising $6,667$17,461
IX-9 Other employee benefitsPrograms $7,309 · Management $10,804 · Fundraising $7,175$25,288
IX-10 Payroll taxesPrograms $6,452 · Management $10,079 · Fundraising $8,643$25,174
IX-11c Accounting feesManagement $18,960$18,960
IX-11f Investment management feesManagement $47,746$47,746
IX-12 Advertising and promotionPrograms $6,021 · Management $378 · Fundraising $1,872$8,271
IX-13 Office expensesPrograms $93 · Management $494$587
IX-16 OccupancyPrograms $2,891 · Management $2,869 · Fundraising $2,869$8,629
IX-17 TravelPrograms $3,421 · Management $366 · Fundraising $1,796$5,583
IX-22 Depreciation, depletion and amortizationPrograms $6,966 · Management $5,596$12,562
IX-24 Other expenses (24a–d)Programs $47,284 · Management $17,217 · Fundraising $3,396$67,897
IX-24e All other expensesPrograms $6,959 · Management $6,927 · Fundraising $872$14,758
IX-25 Total functional expensesPrograms $2,014,674 · Management $260,413 · Fundraising $168,990$2,444,077
Part X · Balance sheet $12,254,762 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $1,251,413$836,330
X-2 Savings and temporary cash investmentsStart of year $265,234$27,277
X-3 Pledges and grants receivableStart of year $249,080$90,889
X-13 Program-related investmentsStart of year $13,714,268$11,290,266
X-15 Other assetsStart of year $10,000$10,000
X-16 Total assetsStart of year $15,489,995$12,254,762
X-25 Other liabilitiesStart of year $1,155,343$206,148
X-26 Total liabilitiesStart of year $1,155,343$206,148
X-27 Net assets without donor restrictionsStart of year $4,094,669$3,243,325
X-28 Net assets with donor restrictionsStart of year $10,239,983$8,805,289
X-32 Total net assets or fund balancesStart of year $14,334,652$12,048,614
X-33 Total liabilities and net assetsStart of year $15,489,995$12,254,762
Part XI · Reconciliation of net assets $12,048,614 net assets at year end
XI-1 Total revenue$2,585,211
XI-2 Total expenses$2,444,077
XI-3 Revenue less expenses$141,134
XI-4 Net assets at start of year$14,334,652
XI-5 Net unrealized gains (losses) on investments−$2,427,172
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$12,048,614

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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