Phi Kappa Sigma Fraternity FY2023 filing

Not tax-deductible

State College, PA501(c)(7)EIN 24-0799192Revenue $435K in FY2023

On file with the IRS431 Science Park Rd Ste 302, 16803-2219 · State College, PATax-exempt since Dec 1940

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Promotion of good fellowship and the cultivation of the social virtues among our members

Mission: Form 990 Part I, line 1

Before you give

FY2023 · 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
3 of 5
filings with a surplus
Average surplus $10K a year · 3% of revenue · last 5 filings
Worth a look: a surplus in 3 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.9 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $9K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$365K
83% of total assets
Concern: liabilities are 83% of assets; over 80%.
Pt X · Ln 26
Independent board members
3
of 3 voting members
Looks good: 3 of 3 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$435K
+41% vs prior year
Spent
$394K
Net assets
$76K
By yearFY2020–FY2024
Revenue
$435K
FY2023▲ +41%
Tap a bar for its year
Revenue by fiscal year
FY2020$305K
FY2021$206K
FY2022$309K
FY2023$435K
FY2024$466K
Expenses
$394K
FY2023▲ +18%
Tap a bar for its year
Expenses by fiscal year
FY2020$276K
FY2021$221K
FY2022$335K
FY2023$394K
FY2024$445K
Net assets
$76K
FY2023▲ +118%
Tap a bar for its year
Net assets by fiscal year
FY2020$76K
FY2021$61K
FY2022$35K
FY2023$76K
FY2024$97K

From the FY2023 Form 990 (year ending June 2023) · see the original

990 PDF Claim
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 Dec 1940.

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

Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
President (until 10/2022)
$0Pt VII · Sec A
President (as of 10/2022)
$0Pt VII · Sec A
Vice-President/Secretary
$0Pt VII · Sec A
Treasurer (until 09/2022)
$0Pt VII · Sec A
Treasurer (as of 09/2022)
$0Pt VII · Sec A
See Phi Kappa Sigma Fraternity 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

Fosters friendship and social virtues among members.

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Provided by the organization

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1 program · in their own filed words · FY2022
01

The objectives of the phi kappa sigma fraternity shall be the promotion of good fellowship and the cultivation of the social virtues among our members; the protection of just rights and the advancement of the best interests, present and future, individual and collective, of all those who shall be associated together as members of this…

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 · FY2024
Total grants receivedfrom 1 funder$9K
Grants paid · 1 grant · $6K · 2022–2022
Unitemized GrantFY2022$6,250

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$435K
Ln 12
Gifts and grantsLn 1h$423K
Other incomeLn 4–11$12K
Money outPt IX
$394K
Ln 25
Owns and owesPt X
$76K
net assets · Ln 32
Cash and savingsLn 1–2$30K
Total assetsLn 16$441K
LiabilitiesLn 26$365K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a3
IndependentVI 1b3
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$423K
Other incomeLn 4–11$12K
Total revenueLn 12$435K
Assets in detailPt X, end of year
CashLn 1$30K
Cash and savings togetherLn 1–2$30K
Land, buildings, equipmentLn 10c$411K
Total assetsLn 16$441K
LiabilitiesLn 26$365K
Net assetsLn 32$76K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderJune
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 FY23End FY23
Cash and savingsLn 1–2$58K$30K
Land, buildings, equipmentLn 10c$350K$411K
Total assetsLn 16$408K$441K
LiabilitiesLn 26$373K$365K
Net assetsLn 32$35K$76K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$6K
Other fees for servicesLn 11g$1K
Office expensesLn 13$5K
Information technologyLn 14$502
OccupancyLn 16$113K
InterestLn 20$22K
Payments to affiliatesLn 21$7K
Depreciation, depletion and amortizationLn 22$15K
InsuranceLn 23$49K
Other expenses (24a–d)Ln 24$175K
All other expensesLn 24e$941
Total functional expensesLn 25$394K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $466K$445K$21K$97K 990 PDF
FY2023 Viewing $435K$394K$41K$76K 990 PDF
FY2022 $309K$335K−$26K$35K 990 PDF
FY2021 $206K$221K−$14K$61K 990 PDF
FY2020 $305K$276K$29K$76K 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 $435,497 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $308,848$423,156
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $0$12,341
I-12 Total revenuePrior year $308,848$435,497
I-13 Grants and similar amounts paidPrior year $0$6,250
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 $335,249$388,098
I-18 Total expensesPrior year $335,249$394,348
I-19 Revenue less expensesPrior year −$26,401$41,149
Part VI · Governance 3 of 3 board members independent, 4 to look at
VI-1a Voting members of the governing body3
VI-1b Independent voting members3
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 $435,497 across 5 lines filed
VIII-1b Membership dues$393,014
VIII-1f All other contributions, gifts and grants$30,142
VIII-1h Total contributions, gifts and grants$423,156
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Excluded from tax $12,341$12,341
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $12,341$435,497
Part IX · Statement of functional expenses $394,348 across 11 lines filed
IX-2 Grants to domestic individuals$6,250
IX-11g Other fees for services$1,000
IX-13 Office expenses$5,004
IX-14 Information technology$502
IX-16 Occupancy$112,601
IX-20 Interest$22,193
IX-21 Payments to affiliates$7,078
IX-22 Depreciation, depletion and amortization$14,929
IX-23 Insurance$49,167
IX-24 Other expenses (24a–d)$174,683
IX-24e All other expenses$941
IX-25 Total functional expenses$394,348
Part X · Balance sheet $441,151 assets, 7 lines filed
X-1 Cash, non-interest-bearingStart of year $58,078$29,811
X-10c Land, buildings and equipment, netStart of year $349,519$411,340
X-16 Total assetsStart of year $407,597$441,151
X-26 Total liabilitiesStart of year $372,593$364,998
X-27 Net assets without donor restrictionsStart of year $35,004$76,153
X-32 Total net assets or fund balancesStart of year $35,004$76,153
X-33 Total liabilities and net assetsStart of year $407,597$441,151
Part XI · Reconciliation of net assets $76,153 net assets at year end
XI-1 Total revenue$435,497
XI-2 Total expenses$394,348
XI-3 Revenue less expenses$41,149
XI-4 Net assets at start of year$35,004
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$76,153

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

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