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Phi Sigma Sigma Foundation INC FY2023 filing

Tax-deductible

Eldersburg, MD501(c)(3)EducationEIN 20-5942561Revenue $528K in FY2023

On file with the IRSphisigmasigma.org/foundation1213 Liberty Rd Ste J 335, 21784-7955 · Eldersburg, MDTax-exempt since Mar 2007Publicly supported charity — 170(b)(1)(A)(vi)

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Raise funds for the purpose of providing educational grants, scholarships, leadership, educational programming support of charitable organizations.

501(c)(3) charity; gifts are tax-deductible.
67¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $65K a year · 10% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
18 mo
of spending, in cash
Looks good: 17.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
6
named funders · $254K
Looks good: 6 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$195K
5% of total assets
Looks good: liabilities are 5% of assets; 50% or less.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$528K
-6% vs prior year
Spent
$495K
To programs
67%
Net assets
$3.8M
By yearFY2021–FY2025
Revenue
$528K
FY2023▼ -6%
Tap a bar for its year
Revenue by fiscal year
FY2021$660K
FY2022$562K
FY2023$528K
FY2024$662K
FY2025$916K
Expenses
$495K
FY2023▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2021$566K
FY2022$483K
FY2023$495K
FY2024$645K
FY2025$816K
Net assets
$3.8M
FY2023▲ +10%
Tap a bar for its year
Net assets by fiscal year
FY2021$4.0M
FY2022$3.5M
FY2023$3.8M
FY2024$4.1M
FY2025$4.4M

From the FY2023 Form 990 (year ending June 2023) · 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 (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 2007.

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

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $330K Management & general 22% · $107K Fundraising 12% · $59K

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

8 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
Melissa Sylvester
Vice President
$0Pt VII · Sec A
Melanie Boone
Treasurer
$0Pt VII · Sec A
$0Pt VII · Sec A
Lisa Damore
Director
$0Pt VII · Sec A
Gina Kerley
Director
$0Pt VII · Sec A
Jen Wilson
Director
$0Pt VII · Sec A
Michelle Ardern
Executive Director
$0Pt VII · Sec A
See Phi Sigma Sigma Foundation 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 educational grants, scholarships, and program support to charitable organizations.

Questions for Phi Sigma Sigma Foundation INC

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Provided by the organization

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1 program · $330K · in their own filed words · FY2022
01

Supported leadership training for chapters. Awarded $323,224 in educational grants, scholarships and assistance.

$330Kprogram 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 · FY2024
Phi Sigma Sigma INCFY2024$220K
Theta Chapter of Phi Sigma Sigma at UiucFY2024$9K
Phi Sigma Sigma INC - Delta EtaFY2024$8K
Phi Sigma Sigma Sorority - Pi ChapterFY2024$7K
Phi Sigma Sigma INC - Iota Chi ChapterFY2024$5K
Phi Sigma Sigma INC - Beta AlphaFY2024$5K
Total grants receivedfrom 6 funders$254K
See all 6 funders →
Grants paid · 18 grants · $1.9M · 2020–2024
Phi Sigma Sigma INCMD · FY2024$403,795
Unitemized GrantFY2024$90,850
Phi Sigma Sigma National Housing CorporationMD · FY2024$60,133
Phi Sigma Sigma INCMD · FY2023$241,504
Unitemized GrantFY2023$85,100
Phi Sigma Sigma National Housing CorporationMD · FY2023$59,317
Unit 5 Educational FoundationFY2023$15,000
Unitemized GrantFY2023$5,000
Phi Sigma Sigma INCMD · FY2022$130,943
Unitemized GrantFY2022$124,365
Phi Sigma Sigma National Housing CorporationMD · FY2022$65,012
Unitemized GrantFY2021$117,225
Phi Sigma Sigma INCMD · FY2021$65,012
Phi Sigma Sigma National Housing CorporationMD · FY2021$52,082
Kids in Need FoundationMN · FY2021$49,860
Phi Sigma Sigma National Housing CorporationMD · FY2020$147,009
Unitemized GrantFY2020$77,725
Phi Sigma Sigma INCMD · FY2020$74,888

By the numbers

The FY2023 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$528K
Ln 12
Gifts and grantsLn 1h$419K
Investment incomeLn 3$96K
Other incomeLn 4–11$13K
Money outPt IX
$495K
Ln 25
Programscol B$330K
Managementcol C$107K
Fundraisingcol D$59K
Owns and owesPt X
$3.8M
net assets · Ln 32
Cash and savingsLn 1–2$726K
Total assetsLn 16$4.0M
LiabilitiesLn 26$195K
PeoplePt VI, VII
8
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$419K
Investment incomeLn 3$96K
Other incomeLn 4–11$13K
Gains on assetsLn 7$12K
Total revenueLn 12$528K
Assets in detailPt X, end of year
CashLn 1$154K
SavingsLn 2$572K
Cash and savings togetherLn 1–2$726K
InvestmentsLn 11–13$3.3M
Land, buildings, equipmentLn 10c$22K
Total assetsLn 16$4.0M
LiabilitiesLn 26$195K
Net assetsLn 32$3.8M
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
Fiscal year endsHeaderJune
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 FY23End FY23
Cash and savingsLn 1–2$978K$726K
InvestmentsLn 11–13$2.7M$3.3M
Land, buildings, equipmentLn 10c$27K$22K
Total assetsLn 16$3.7M$4.0M
LiabilitiesLn 26$203K$195K
Net assetsLn 32$3.5M$3.8M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$196K$196K
Grants to domestic individualsLn 2$127K$127K
Accounting feesLn 11c$8K$8K
Investment management feesLn 11f$34K$34K
Other fees for servicesLn 11g$2K$1K$1K$4
Office expensesLn 13$27K$9K$19K
Information technologyLn 14$20K$6K$14K
TravelLn 17$5K$535$4K
InterestLn 20$4K$4K
Depreciation, depletion and amortizationLn 22$6K$6K
InsuranceLn 23$10K$10K
Other expenses (24a–d)Ln 24$56K$5K$30K$21K
Total functional expensesLn 25$495K$330K$107K$59K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $916K$816K$100K$4.4M 990 PDF
FY2024 $662K$645K$17K$4.1M 990 PDF
FY2023 Viewing $528K$495K$33K$3.8M 990 PDF
FY2022 $562K$483K$79K$3.5M 990 PDF
FY2021 $660K$566K$94K$4.0M 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 (6 parts)
Part I · Summary $528,345 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $400,607$419,295
I-9 Program service revenuePrior year $19,639$0
I-10 Investment incomePrior year $131,076$96,261
I-11 Other revenuePrior year $10,721$12,789
I-12 Total revenuePrior year $562,043$528,345
I-13 Grants and similar amounts paidPrior year $284,179$323,224
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 $199,087$171,999
I-18 Total expensesPrior year $483,266$495,223
I-19 Revenue less expensesPrior year $78,777$33,122
Part VI · Governance 7 of 7 board members independent, 1 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $528,345 across 8 lines filed
VIII-1d Related organizations$13,257
VIII-1f All other contributions, gifts and grants$406,038
VIII-1h Total contributions, gifts and grants$419,295
VIII-3 Investment incomeExcluded from tax $84,041$84,041
VIII-5 RoyaltiesExcluded from tax $1,008$1,008
VIII-7 Net gain or loss on sales of assetsExcluded from tax $12,220$12,220
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $11,781$11,781
VIII-12 Total revenueRelated to mission $11,781 · Unrelated business $0 · Excluded from tax $97,269$528,345
Part IX · Statement of functional expenses $495,223 across 12 lines filed
IX-1 Grants to domestic organizationsPrograms $195,955$195,955
IX-2 Grants to domestic individualsPrograms $127,269$127,269
IX-11c Accounting feesManagement $8,000$8,000
IX-11f Investment management feesManagement $33,502$33,502
IX-11g Other fees for servicesPrograms $1,360 · Management $1,008 · Fundraising $4$2,372
IX-13 Office expensesManagement $8,519 · Fundraising $18,861$27,380
IX-14 Information technologyManagement $5,850 · Fundraising $14,420$20,270
IX-17 TravelManagement $535 · Fundraising $4,086$4,621
IX-20 InterestManagement $3,846$3,846
IX-22 Depreciation, depletion and amortizationManagement $5,521$5,521
IX-23 InsuranceManagement $10,074$10,074
IX-24 Other expenses (24a–d)Programs $5,075 · Management $30,188 · Fundraising $21,150$56,413
IX-25 Total functional expensesPrograms $329,659 · Management $107,043 · Fundraising $58,521$495,223
Part X · Balance sheet $4,004,353 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $261,296$154,028
X-2 Savings and temporary cash investmentsStart of year $717,163$571,856
X-3 Pledges and grants receivableStart of year $882$826
X-10c Land, buildings and equipment, netStart of year $27,158$22,082
X-11 Publicly traded securitiesStart of year $2,654,963$3,255,561
X-16 Total assetsStart of year $3,676,256$4,004,353
X-17 Accounts payable and accrued expensesStart of year $19,855$10,750
X-24 Unsecured notes and loans payableStart of year $150,000$150,000
X-25 Other liabilitiesStart of year $32,962$34,085
X-26 Total liabilitiesStart of year $202,817$194,835
X-27 Net assets without donor restrictionsStart of year $1,192,371$1,365,156
X-28 Net assets with donor restrictionsStart of year $2,281,068$2,444,362
X-32 Total net assets or fund balancesStart of year $3,473,439$3,809,518
X-33 Total liabilities and net assetsStart of year $3,676,256$4,004,353
Part XI · Reconciliation of net assets $3,809,518 net assets at year end
XI-1 Total revenue$528,345
XI-2 Total expenses$495,223
XI-3 Revenue less expenses$33,122
XI-4 Net assets at start of year$3,473,439
XI-5 Net unrealized gains (losses) on investments$302,957
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$3,809,518

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

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