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Sigma Chi Fraternity Beta Psi Chapter FY2022 filing

Not tax-deductible

Atlanta, GA501(c)(7)Since 1940Mutual / membership EIN 58-0574830Revenue $597K in FY2022

On file with the IRSbetapsi.org770 Techwood Dr Nw, 30313-2537 · Atlanta, GATax-exempt since May 1940

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The mission of the Sigma Chi fraternity is to promote friendship, justice and learning as the exemplification of our brotherhood and to inspire a lifelong commitment to serve well our families, friends and the communities in which we live and work.

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78

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FY2022 · 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
4 of 6
filings with a surplus
Average surplus $31K a year · 5% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Cash reserves
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
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$597K
+5% vs prior year
Spent
$645K
Net assets
$81K
By yearFY2020–FY2025
Revenue
$597K
FY2022▲ +5%
Tap a bar for its year
Revenue by fiscal year
FY2020$573K
FY2021$570K
FY2022$597K
FY2023$568K
FY2024$721K
FY2025$589K
Expenses
$645K
FY2022▲ +13%
Tap a bar for its year
Expenses by fiscal year
FY2020$476K
FY2021$570K
FY2022$645K
FY2023$574K
FY2024$639K
FY2025$528K
Net assets
$81K
FY2022▼ -37%
Tap a bar for its year
Net assets by fiscal year
FY2020$128K
FY2021$128K
FY2022$81K
FY2023$75K
FY2024$157K
FY2025$218K

From the FY2022 Form 990 (year ending June 2022) · see the original

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You’re viewing the FY2022 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 May 1940.

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

Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
$0Pt VII · Sec A
Lake Boyer
Pro Consul and Ritual Chair
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Cole Morris
House Co-Chair
$0Pt VII · Sec A
Cole Rogers
House Co-Chair
$0Pt VII · Sec A
Garrett McClurg
Chapter Advisor
$0Pt VII · Sec A
Sam Handel
Annotator
$0Pt VII · Sec A
See Sigma Chi Fraternity Beta Psi Chapter 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

Inspires lifelong service to families, friends, and communities through brotherhood.

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Provided by the organization

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1 program · in their own filed words · FY2021
01

Fraternity providing meals, lodging, etc. To members.

Pt IX · col B

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$597K
Ln 12
Gifts and grantsLn 1h$587K
Other incomeLn 4–11$10K
Money outPt IX
$645K
Ln 25
Owns and owesPt X
$81K
net assets · Ln 32
Cash and savingsLn 1–2$81K
Total assetsLn 16$81K
LiabilitiesLn 26$0
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$587K
Other incomeLn 4–11$10K
Total revenueLn 12$597K
Assets in detailPt X, end of year
CashLn 1$81K
Cash and savings togetherLn 1–2$81K
Total assetsLn 16$81K
LiabilitiesLn 26$0
Net assetsLn 32$81K
OperationsPt I, VI
EmployeesI 50
VolunteersI 616
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 FY22End FY22
Cash and savingsLn 1–2$128K$81K
Total assetsLn 16$128K$81K
LiabilitiesLn 26$0$0
Net assetsLn 32$128K$81K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K
OccupancyLn 16$296K
Other expenses (24a–d)Ln 24$347K
All other expensesLn 24e$187
Total functional expensesLn 25$645K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $589K$528K$61K$218K 990 PDF
FY2024 $721K$639K$82K$157K 990 PDF
FY2023 $568K$574K−$6K$75K 990 PDF
FY2022 Viewing $597K$645K−$47K$81K 990 PDF
FY2021 $570K$570K$509$128K 990 PDF
FY2020 $573K$476K$96K$128K 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 FY2022 990 (6 parts)
Part I · Summary $597,307 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$586,941
I-9 Program service revenuePrior year $488,696$0
I-10 Investment incomePrior year $0$0
I-11 Other revenuePrior year $81,676$10,366
I-12 Total revenuePrior year $570,372$597,307
I-13 Grants and similar amounts paidPrior year $0$0
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 $569,863$644,526
I-18 Total expensesPrior year $569,863$644,526
I-19 Revenue less expensesPrior year $509−$47,219
Part VI · Governance 13 of 13 board members independent, 4 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
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 $597,307 across 5 lines filed
VIII-1b Membership dues$550,941
VIII-1f All other contributions, gifts and grants$36,000
VIII-1h Total contributions, gifts and grants$586,941
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $10,366$10,366
VIII-12 Total revenueRelated to mission $10,366 · Unrelated business $0 · Excluded from tax $0$597,307
Part IX · Statement of functional expenses $644,526 across 4 lines filed
IX-11c Accounting fees$2,135
IX-16 Occupancy$295,663
IX-24 Other expenses (24a–d)$346,541
IX-24e All other expenses$187
IX-25 Total functional expenses$644,526
Part X · Balance sheet $80,950 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $128,170$80,950
X-16 Total assetsStart of year $128,170$80,950
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $128,170$80,950
X-32 Total net assets or fund balancesStart of year $128,170$80,950
X-33 Total liabilities and net assetsStart of year $128,170$80,950
Part XI · Reconciliation of net assets $80,950 net assets at year end
XI-1 Total revenue$597,307
XI-2 Total expenses$644,526
XI-3 Revenue less expenses−$47,219
XI-4 Net assets at start of year$128,170
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$80,950

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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