Phi Beta Kappa Society FY2024 filing

Tax-deductible

Williamsburg, VA501(c)(3)EIN 54-6073834Revenue $300K in FY2024

On file with the IRSPo Box 8795, 23187-8795 · Williamsburg, VATax-exempt since Jun 1951Publicly supported — 509(a)(2)

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Promote Scholastic Achievement

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2024 · 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
4 of 5
filings with a surplus
Average surplus $165K a year · 67% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
12 mo
of spending, in cash
Looks good: 12.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
0
of 7 voting members
Concern: none of 7 voting members are independent.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$300K
+116% vs prior year
Spent
$53K
To programs
94%
Net assets
$1.7M
By yearFY2021–FY2025
Revenue
$300K
FY2024▲ +116%
Tap a bar for its year
Revenue by fiscal year
FY2021$423K
FY2022$137K
FY2023$138K
FY2024$300K
FY2025$232K
Expenses
$53K
FY2024▼ -79%
Tap a bar for its year
Expenses by fiscal year
FY2021$19K
FY2022$41K
FY2023$257K
FY2024$53K
FY2025$37K
Net assets
$1.7M
FY2024▲ +16%
Tap a bar for its year
Net assets by fiscal year
FY2021$1.5M
FY2022$1.6M
FY2023$1.5M
FY2024$1.7M
FY2025$1.8M

From the FY2024 Form 990 (year ending March 2024) · see the original

990 PDF Claim
You’re viewing the FY2024 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 Jun 1951.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $50K Management & general 6% · $3K

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

7 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
President
$0Pt VII · Sec A
Historian
$0Pt VII · Sec A
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Phi Beta Kappa Society 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

Phi Beta Kappa Society is a nonprofit based in Williamsburg, VA.

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Provided by the organization

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3 programs · $48K · in their own filed words · FY2023
01

Non-discriminatory Student Scholarships paid from restricted funds, as stipulated.

$18Kprogram expense
02

Initiation expense-PBK keys; dinner-expense partially paid by member assessments; balance paid from investment income derived from specific funding for stated purpose.

$16Kprogram expense
03

Annual dues paid to PBK; parent organization.

$14Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 10 grants · $82K · 2020–2024
Unitemized GrantFY2024$3,350
Unitemized GrantFY2024$2,000
Unitemized GrantFY2023$18,350
Unitemized GrantFY2023$2,000
Unitemized GrantFY2022$16,350
Unitemized GrantFY2022$3,000
Unitemized GrantFY2021$27,350
Unitemized GrantFY2021$2,500
Unitemized GrantFY2020$3,810
Unitemized GrantFY2020$3,000

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$300K
Ln 12
Investment incomeLn 3$290K
Gifts and grantsLn 1h$10K
Money outPt IX
$53K
Ln 25
Programscol B$50K
Managementcol C$3K
Owns and owesPt X
$1.7M
net assets · Ln 32
Cash and savingsLn 1–2$54K
Total assetsLn 16$1.7M
LiabilitiesLn 26$0
PeoplePt VI, VII
7
listed · VII A
PaidVII A0
Voting boardVI 1a7
IndependentVI 1b0
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$10K
Investment incomeLn 3$290K
Gains on assetsLn 7$4K
Total revenueLn 12$300K
Assets in detailPt X, end of year
CashLn 1$47K
SavingsLn 2$6K
Cash and savings togetherLn 1–2$54K
InvestmentsLn 11–13$1.7M
Land, buildings, equipmentLn 10c$0
Other assetsLn 15$0
Total assetsLn 16$1.7M
LiabilitiesLn 26$0
Net assetsLn 32$1.7M
OperationsPt I, VI
EmployeesI 50
VolunteersI 67
Fiscal year endsHeaderMarch
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 FY24End FY24
Cash and savingsLn 1–2$81K$54K
InvestmentsLn 11–13$1.4M$1.7M
Land, buildings, equipmentLn 10c$0
Total assetsLn 16$1.5M$1.7M
LiabilitiesLn 26$0$0
Net assetsLn 32$1.5M$1.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$0
Grants to domestic individualsLn 2$20K$20K
Grants and assistance to foreign recipientsLn 3$0
Benefits paid to or for membersLn 4$0
Pay of current officers, directors and key staffLn 5$0
Pay of disqualified personsLn 6$0
Other salaries and wagesLn 7$0
Pension plan contributionsLn 8$0
Other employee benefitsLn 9$0
Payroll taxesLn 10$0
Management feesLn 11a$0
Legal feesLn 11b$0
Accounting feesLn 11c$2K$2K
Lobbying feesLn 11d$0
Professional fundraising feesLn 11e$0
Investment management feesLn 11f$325$325
Other fees for servicesLn 11g$0
Advertising and promotionLn 12$0
Office expensesLn 13$0
Information technologyLn 14$0
RoyaltiesLn 15$0
OccupancyLn 16$0
TravelLn 17$0
Travel and entertainment for public officialsLn 18$0
Conferences, conventions and meetingsLn 19$0
InterestLn 20$0
Payments to affiliatesLn 21$14K$14K
Depreciation, depletion and amortizationLn 22$0
InsuranceLn 23$0
Other expenses (24a–d)Ln 24$17K$16K$724
All other expensesLn 24e$0
Total functional expensesLn 25$53K$50K$3K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $232K$37K$195K$1.8M 990 PDF
FY2024 Viewing $300K$53K$247K$1.7M 990 PDF
FY2023 $138K$257K−$118K$1.5M 990 PDF
FY2022 $137K$41K$95K$1.6M 990 PDF
FY2021 $423K$19K$405K$1.5M 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 FY2024 990 (6 parts)
Part I · Summary $299,609 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $12,955$9,578
I-9 Program service revenue$0
I-10 Investment incomePrior year $125,499$290,031
I-11 Other revenue$0
I-12 Total revenuePrior year $138,454$299,609
I-13 Grants and similar amounts paidPrior year $19,350$20,350
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $237,535$32,377
I-18 Total expensesPrior year $256,885$52,727
I-19 Revenue less expensesPrior year −$118,431$246,882
Part VI · Governance 0 of 7 board members independent, 4 to look at
VI-1a Voting members of the governing body7
VI-1b Independent voting members0
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 $299,609 across 9 lines filed
VIII-1b Membership dues$6,243
VIII-1f All other contributions, gifts and grants$3,335
VIII-1h Total contributions, gifts and grants$9,578
VIII-3 Investment incomeRelated to mission $286,115$286,115
VIII-5 Royalties$0
VIII-6 Net rental income or loss$0
VIII-7 Net gain or loss on sales of assetsRelated to mission $3,916$3,916
VIII-8 Net income from fundraising events$0
VIII-12 Total revenueRelated to mission $290,031$299,609
Part IX · Statement of functional expenses $52,727 across 31 lines filed
IX-1 Grants to domestic organizations$0
IX-2 Grants to domestic individualsPrograms $20,350$20,350
IX-3 Grants and assistance to foreign recipients$0
IX-4 Benefits paid to or for members$0
IX-5 Pay of current officers, directors and key staff$0
IX-6 Pay of disqualified persons$0
IX-7 Other salaries and wages$0
IX-8 Pension plan contributions$0
IX-9 Other employee benefits$0
IX-10 Payroll taxes$0
IX-11a Management fees$0
IX-11b Legal fees$0
IX-11c Accounting feesManagement $1,998$1,998
IX-11d Lobbying fees$0
IX-11e Professional fundraising fees$0
IX-11f Investment management feesManagement $325$325
IX-11g Other fees for services$0
IX-12 Advertising and promotion$0
IX-13 Office expenses$0
IX-14 Information technology$0
IX-15 Royalties$0
IX-16 Occupancy$0
IX-17 Travel$0
IX-18 Travel and entertainment for public officials$0
IX-19 Conferences, conventions and meetings$0
IX-20 Interest$0
IX-21 Payments to affiliatesPrograms $13,522$13,522
IX-22 Depreciation, depletion and amortization$0
IX-23 Insurance$0
IX-24 Other expenses (24a–d)Programs $15,808 · Management $724$16,532
IX-24e All other expenses$0
IX-25 Total functional expensesPrograms $49,680 · Management $3,047 · Fundraising $0$52,727
Part X · Balance sheet $1,744,926 assets, 16 lines filed
X-1 Cash, non-interest-bearingStart of year $40,789$47,413
X-2 Savings and temporary cash investmentsStart of year $39,962$6,155
X-3 Pledges and grants receivable$0
X-4 Accounts receivable$0
X-8 Inventories for sale or use$0
X-9 Prepaid expenses and deferred charges$0
X-10c Land, buildings and equipment, net$0
X-11 Publicly traded securitiesStart of year $1,381,552$1,691,358
X-12 Other securities$0
X-13 Program-related investments$0
X-14 Intangible assets$0
X-15 Other assetsStart of year $35,741$0
X-16 Total assetsStart of year $1,498,044$1,744,926
X-26 Total liabilitiesStart of year $0$0
X-32 Total net assets or fund balancesStart of year $1,498,044$1,744,926
X-33 Total liabilities and net assetsStart of year $1,498,044$1,744,926
Part XI · Reconciliation of net assets $1,744,926 net assets at year end
XI-1 Total revenue$299,609
XI-2 Total expenses$52,727
XI-3 Revenue less expenses$246,882
XI-4 Net assets at start of year$1,498,044
XI-10 Net assets at end of year$1,744,926

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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