Alpha Sigma Phi Fraternity INC

Not tax-deductible

Champaign, IL501(c)(7)Education EIN 37-0659330Revenue $345K in FY2021

On file with the IRS211 E Armory Ave, 61820-6669 · Champaign, ILTax-exempt since Apr 1941

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Provide room, board and/or social activities for members

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
99¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

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
FY2021
latest Form 990
Concern: the latest return is for FY2021, 5 tax years back; more than 4 tax years.
IRS e-file · Filing history
Spent on programs
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
2 mo
of spending, in cash
Fine: 1.5 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$2.2M
91% of total assets
Concern: liabilities are 91% of assets; over 80%.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 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
$345K
Spent
$381K
To programs
99%
Net assets
$211K

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

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2021. IRS ruling in Apr 1941.

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

Where the money goes

99 cents of each dollar spent went to programs.

Program services 99% · $377K Management & general 1% · $4K

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

9 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Alpha Sigma Phi 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 15aNo

Programs and updates

Offers housing, meals, and social events for members.

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Provided by the organization

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1 program · in their own filed words · FY2020
01

Provide housing for active chapter members

Pt IX · col B

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$345K
Ln 12
Fees for servicesLn 2g$345K
Investment incomeLn 3$8
Money outPt IX
$381K
Ln 25
Programscol B$377K
Managementcol C$4K
Owns and owesPt X
$211K
net assets · Ln 32
Cash and savingsLn 1–2$48K
Total assetsLn 16$2.5M
LiabilitiesLn 26$2.2M
PeoplePt VI, VII
9
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Fees for servicesLn 2g$345K
Investment incomeLn 3$8
Total revenueLn 12$345K
Assets in detailPt X, end of year
CashLn 1$48K
Cash and savings togetherLn 1–2$48K
Land, buildings, equipmentLn 10c$1.6M
Other assetsLn 15$0
Total assetsLn 16$2.5M
LiabilitiesLn 26$2.2M
Net assetsLn 32$211K
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 FY21End FY21
Cash and savingsLn 1–2$45K$48K
Land, buildings, equipmentLn 10c$46K$1.6M
Total assetsLn 16$749K$2.5M
LiabilitiesLn 26$503K$2.2M
Net assetsLn 32$246K$211K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$22K$22K$0$0
Payroll taxesLn 10$11K$11K$0$0
Accounting feesLn 11c$6K$2K$4K$0
Office expensesLn 13$5K$5K$0$0
OccupancyLn 16$197K$197K$0$0
InterestLn 20$6K$6K$0$0
Payments to affiliatesLn 21$599$599$0$0
Depreciation, depletion and amortizationLn 22$59K$59K$0$0
InsuranceLn 23$9K$9K$0$0
Other expenses (24a–d)Ln 24$65K$65K$0$0
Total functional expensesLn 25$381K$377K$4K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2021 Latest Viewing $345K$381K−$36K$211K 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 O · Explanations
See the full FY2021 990 (6 parts)
Part I · Summary $345,158 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $600$0
I-9 Program service revenuePrior year $657,462$345,150
I-10 Investment incomePrior year $2$8
I-11 Other revenue$0
I-12 Total revenuePrior year $658,064$345,158
I-13 Grants and similar amounts paid$0
I-14 Benefits paid to members$0
I-15 Salaries and benefitsPrior year $49,114$33,194
I-16a Professional fundraising feesPrior year $11,823$0
I-17 Other expensesPrior year $579,150$347,506
I-18 Total expensesPrior year $640,087$380,700
I-19 Revenue less expensesPrior year $17,977−$35,542
Part VI · Governance 9 of 9 board members independent, 4 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
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 $345,158 across 3 lines filed
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Unrelated business $0 · Excluded from tax $0$345,150
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $0$8
VIII-12 Total revenueRelated to mission $345,158 · Unrelated business $0 · Excluded from tax $0$345,158
Part IX · Statement of functional expenses $380,700 across 10 lines filed
IX-7 Other salaries and wagesPrograms $22,060 · Management $0 · Fundraising $0$22,060
IX-10 Payroll taxesPrograms $11,134 · Management $0 · Fundraising $0$11,134
IX-11c Accounting feesPrograms $2,352 · Management $4,105 · Fundraising $0$6,457
IX-13 Office expensesPrograms $4,792 · Management $0 · Fundraising $0$4,792
IX-16 OccupancyPrograms $196,602 · Management $0 · Fundraising $0$196,602
IX-20 InterestPrograms $5,548 · Management $0 · Fundraising $0$5,548
IX-21 Payments to affiliatesPrograms $599 · Management $0 · Fundraising $0$599
IX-22 Depreciation, depletion and amortizationPrograms $59,301 · Management $0 · Fundraising $0$59,301
IX-23 InsurancePrograms $9,044 · Management $0 · Fundraising $0$9,044
IX-24 Other expenses (24a–d)Programs $65,163 · Management $0 · Fundraising $0$65,163
IX-25 Total functional expensesPrograms $376,595 · Management $4,105 · Fundraising $0$380,700
Part X · Balance sheet $2,460,306 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $45,296$48,119
X-4 Accounts receivableStart of year $620,308$820,657
X-9 Prepaid expenses and deferred chargesStart of year $7,521$0
X-10c Land, buildings and equipment, netStart of year $45,577$1,591,530
X-15 Other assetsStart of year $30,510$0
X-16 Total assetsStart of year $749,212$2,460,306
X-17 Accounts payable and accrued expensesStart of year $426,177$55,228
X-25 Other liabilitiesStart of year $76,631$115,206
X-26 Total liabilitiesStart of year $502,808$2,249,444
X-27 Net assets without donor restrictionsStart of year $246,404$210,862
X-32 Total net assets or fund balancesStart of year $246,404$210,862
X-33 Total liabilities and net assetsStart of year $749,212$2,460,306
Part XI · Reconciliation of net assets $210,862 net assets at year end
XI-1 Total revenue$345,158
XI-2 Total expenses$380,700
XI-3 Revenue less expenses−$35,542
XI-4 Net assets at start of year$246,404
XI-10 Net assets at end of year$210,862

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

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