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Sigma Chi Fraternity Beta Psi Chapter FY2024 filing

Not tax-deductible

Atlanta, GA501(c)(7)Since 1940Mutual / membership EIN 58-0574830Revenue $721K in FY2024

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

Before you give

FY2024 · 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
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Fine: 2.9 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
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$721K
+27% vs prior year
Spent
$639K
To programs
0%
Net assets
$157K
By yearFY2020–FY2025
Revenue
$721K
FY2024▲ +27%
Tap a bar for its year
Revenue by fiscal year
FY2020$573K
FY2021$570K
FY2022$597K
FY2023$568K
FY2024$721K
FY2025$589K
Expenses
$639K
FY2024▲ +11%
Tap a bar for its year
Expenses by fiscal year
FY2020$476K
FY2021$570K
FY2022$645K
FY2023$574K
FY2024$639K
FY2025$528K
Net assets
$157K
FY2024▲ +109%
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 FY2024 Form 990 (year ending June 2024) · see the original

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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 May 1940.

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

Who runs it and what they're paid

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Will Wood
Consul
$0Pt VII · Sec A
Cole Rogers
Pro Consul
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Spencer Gosden
House Co-Chair
$0Pt VII · Sec A
Ian Matthews
House Co-Chair
$0Pt VII · Sec A
Robert Weber
Ritual Chair
$0Pt VII · Sec A
$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 · $428K · in their own filed words · FY2023
01

Fraternity providing meals, lodging, etc to members.

$428Kprogram expense

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$721K
Ln 12
Gifts and grantsLn 1h$716K
Other incomeLn 4–11$5K
Money outPt IX
$639K
Ln 25
Owns and owesPt X
$157K
net assets · Ln 32
Cash and savingsLn 1–2$157K
Total assetsLn 16$157K
LiabilitiesLn 26$0
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$716K
Other incomeLn 4–11$5K
Total revenueLn 12$721K
Assets in detailPt X, end of year
CashLn 1$157K
Cash and savings togetherLn 1–2$157K
Total assetsLn 16$157K
LiabilitiesLn 26$0
Net assetsLn 32$157K
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 FY24End FY24
Cash and savingsLn 1–2$75K$157K
Total assetsLn 16$75K$157K
LiabilitiesLn 26$0$0
Net assetsLn 32$75K$157K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
OccupancyLn 16$243K$0$0$0
Other expenses (24a–d)Ln 24$396K$0$0$0
Total functional expensesLn 25$639K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $589K$528K$61K$218K 990 PDF
FY2024 Viewing $721K$639K$82K$157K 990 PDF
FY2023 $568K$574K−$6K$75K 990 PDF
FY2022 $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 FY2024 990 (6 parts)
Part I · Summary $720,642 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $552,211$715,943
I-9 Program service revenue$0
I-10 Investment income$0
I-11 Other revenuePrior year $16,187$4,699
I-12 Total revenuePrior year $568,398$720,642
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 $574,154$639,029
I-18 Total expensesPrior year $574,154$639,029
I-19 Revenue less expensesPrior year −$5,756$81,613
Part VI · Governance 15 of 15 board members independent, 4 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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 $720,642 across 5 lines filed
VIII-1b Membership dues$681,943
VIII-1f All other contributions, gifts and grants$34,000
VIII-1h Total contributions, gifts and grants$715,943
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $4,699 · Unrelated business $0 · Excluded from tax $0$4,699
VIII-12 Total revenueRelated to mission $4,699 · Unrelated business $0 · Excluded from tax $0$720,642
Part IX · Statement of functional expenses $639,029 across 2 lines filed
IX-16 OccupancyPrograms $0 · Management $0 · Fundraising $0$242,536
IX-24 Other expenses (24a–d)Programs $0 · Management $0 · Fundraising $0$396,493
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$639,029
Part X · Balance sheet $156,807 assets, 6 lines filed
X-1 Cash, non-interest-bearingStart of year $75,194$156,807
X-16 Total assetsStart of year $75,194$156,807
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $75,194$156,807
X-32 Total net assets or fund balancesStart of year $75,194$156,807
X-33 Total liabilities and net assetsStart of year $75,194$156,807
Part XI · Reconciliation of net assets $156,807 net assets at year end
XI-1 Total revenue$720,642
XI-2 Total expenses$639,029
XI-3 Revenue less expenses$81,613
XI-4 Net assets at start of year$75,194
XI-10 Net assets at end of year$156,807

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

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