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Sigma Phi Epsilon Alumni Corporation FY2021 filing

Not tax-deductible

Muncie, IN501(c)(7)EIN 35-1007721Revenue $179K in FY2021

On file with the IRS1112 N Meadow Ln, 47304-3329 · Muncie, INTax-exempt since Jul 2019

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Provide fellowship and housing for college students helping to prepare them to be productive member and contributions to society

100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

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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
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
0 of 5
filings with a surplus
Average deficit $80K a year · 49% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
7 mo
of spending, in cash
Looks good: 7.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$899K
48% of total assets
Looks good: liabilities are 48% of assets; 50% or less.
Pt X · Ln 26
Independent board members
10
of 10 voting members
Looks good: 10 of 10 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$179K
Spent
$266K
To programs
100%
Net assets
$987K
By yearFY2021–FY2025
Revenue
$179K
FY2021
Tap a bar for its year
Revenue by fiscal year
FY2021$179K
FY2022$185K
FY2023$175K
FY2024$147K
FY2025$132K
Expenses
$266K
FY2021
Tap a bar for its year
Expenses by fiscal year
FY2021$266K
FY2022$259K
FY2023$220K
FY2024$232K
FY2025$241K
Net assets
$987K
FY2021
Tap a bar for its year
Net assets by fiscal year
FY2021$987K
FY2022$913K
FY2023$1.0M
FY2024$960K
FY2025$1.0M

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

990 PDF Claim
You’re viewing the FY2021 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Exemption reinstated (2017-11-15). Per the IRS revocation list. Latest filing on record: FY2025. IRS ruling in Jul 2019.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $266K

Form 990 Part IX, line 25. 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 · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Chris Renner
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
Jd Watrous
Director
$0Pt VII · Sec A
James Banta
Director
$0Pt VII · Sec A
Dan Otoole
Director
$0Pt VII · Sec A
Jeff Hultman
Director
$0Pt VII · Sec A
Steven Sharp
Director
$0Pt VII · Sec A
Scott Newlund
President
$0Pt VII · Sec A
See Sigma Phi Epsilon Alumni Corporation 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

Offers fellowship and housing to college students, preparing them for productive societal contributions.

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Provided by the organization

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1 program · $266K · in their own filed words · FY2020
01

All expenses incurred are due to occupancy of fraternity house these include utilities property insurance etc

$266Kprogram expense

By the numbers

The FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$179K
Ln 12
Fees for servicesLn 2g$179K
Money outPt IX
$266K
Ln 25
Programscol B$266K
Owns and owesPt X
$987K
net assets · Ln 32
Cash and savingsLn 1–2$155K
Total assetsLn 16$1.9M
LiabilitiesLn 26$899K
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a10
IndependentVI 1b10
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$179K
Total revenueLn 12$179K
Assets in detailPt X, end of year
CashLn 1$2K
SavingsLn 2$153K
Cash and savings togetherLn 1–2$155K
InvestmentsLn 11–13$60K
Land, buildings, equipmentLn 10c$1.7M
Total assetsLn 16$1.9M
LiabilitiesLn 26$899K
Net assetsLn 32$987K
OperationsPt I, VI
EmployeesI 50
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 FY21End FY21
Cash and savingsLn 1–2$135K$155K
InvestmentsLn 11–13$48K$60K
Land, buildings, equipmentLn 10c$1.8M$1.7M
Total assetsLn 16$1.9M$1.9M
LiabilitiesLn 26$927K$899K
Net assetsLn 32$1.0M$987K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other fees for servicesLn 11g$2K$2K
OccupancyLn 16$77K$77K
InterestLn 20$64K$64K
Depreciation, depletion and amortizationLn 22$93K$93K
InsuranceLn 23$12K$12K
Other expenses (24a–d)Ln 24$18K$18K
Total functional expensesLn 25$266K$266K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $132K$241K−$109K$1.0M 990 PDF
FY2024 $147K$232K−$84K$960K 990 PDF
FY2023 $175K$220K−$45K$1.0M 990 PDF
FY2022 $185K$259K−$74K$913K 990 PDF
FY2021 Viewing $179K$266K−$87K$987K 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 FY2021 990 (6 parts)
Part I · Summary $179,091 revenue, 12 lines filed
I-8 Contributions and grants$0
I-9 Program service revenuePrior year $194,304$179,091
I-10 Investment income$0
I-11 Other revenue$0
I-12 Total revenuePrior year $194,304$179,091
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $240,066$266,438
I-18 Total expensesPrior year $240,066$266,438
I-19 Revenue less expensesPrior year −$45,762−$87,347
Part VI · Governance 10 of 10 board members independent, 4 to look at
VI-1a Voting members of the governing body10
VI-1b Independent voting members10
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 $179,091 across 2 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $179,091$179,091
VIII-12 Total revenueRelated to mission $179,091 · Unrelated business $0 · Excluded from tax $0$179,091
Part IX · Statement of functional expenses $266,438 across 6 lines filed
IX-11g Other fees for servicesPrograms $2,127$2,127
IX-16 OccupancyPrograms $77,285$77,285
IX-20 InterestPrograms $64,000$64,000
IX-22 Depreciation, depletion and amortizationPrograms $93,241$93,241
IX-23 InsurancePrograms $11,665$11,665
IX-24 Other expenses (24a–d)Programs $18,120$18,120
IX-25 Total functional expensesPrograms $266,438 · Management $0 · Fundraising $0$266,438
Part X · Balance sheet $1,885,542 assets, 8 lines filed
X-1 Cash, non-interest-bearingStart of year $2,823$2,406
X-2 Savings and temporary cash investmentsStart of year $132,038$152,613
X-10c Land, buildings and equipment, netStart of year $1,763,720$1,670,479
X-13 Program-related investmentsStart of year $47,750$60,044
X-16 Total assetsStart of year $1,946,331$1,885,542
X-26 Total liabilitiesStart of year $927,207$898,648
X-32 Total net assets or fund balancesStart of year $1,019,124$986,894
X-33 Total liabilities and net assetsStart of year $1,946,331$1,885,542
Part XI · Reconciliation of net assets $986,894 net assets at year end
XI-1 Total revenue$179,091
XI-2 Total expenses$266,438
XI-3 Revenue less expenses−$87,347
XI-4 Net assets at start of year$1,019,124
XI-8 Prior period adjustments$55,117
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$986,894

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

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