Phi Kappa Sigma Fraternity FY2023 filing

Not tax-deductible

Atlanta, GA501(c)(7)EIN 58-1972393

To provide low cost housing for students at Georgia Institute of Technology who are members of the ALPHA NU chapter of PHI KAPPA SIGMA international fraternity.

Mission: Form 990 Part I, line 1

Before you give

FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
1 of 4
filings with a surplus
Average deficit $13K a year · 7% of revenue · last 4 filings
Concern: a surplus in 1 of the last 4 filings.
Pt I · Ln 19 · 4 filings
Spent on programs
0%
of spending
Concern: 0% of spending went to programs; under 50%.
Pt IX · Ln 25 · col B
Cash reserves
<1 mo
of spending, in cash
Worth a look: 0.5 months of spending in cash; under 1.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$53K
771% of total assets
Concern: liabilities are 771% of assets; over 80%.
Pt X · Ln 26
Independent board members
2
of 2 voting members
Looks good: 2 of 2 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$169K
-25% vs prior year
Spent
$179K
To programs
0%
Net assets
−$46K
By yearFY2020–FY2024
Revenue
$169K
FY2023▼ -25%
Revenue by fiscal year
FY2020$196K
FY2022$227K
FY2023$169K
FY2024$213K
Expenses
$179K
FY2023▼ -30%
Expenses by fiscal year
FY2020$224K
FY2022$256K
FY2023$179K
FY2024$199K
Net assets
−$46K
FY2023▼ -27%
Net assets by fiscal year
FY2020−$4K
FY2022−$36K
FY2023−$46K
FY2024−$32K

From the FY2023 Form 990 · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Dec 1940.

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

Who runs it and what they're paid

2 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Chairperson
$0Pt VII · Sec A
See Phi Kappa Sigma Fraternity 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 affordable housing for fraternity members at Georgia Tech.

Provided by the organization

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1 program service account for $179K of program spending, described in the organization's own filed words · FY2023.
01

To provide low cost housing for students of Georgia Institute of Technology who are members of the ALPHA NU chapter of PHI KAPPA SIGMA international fraternity.

$179Kprogram expense

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By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$169K
Ln 12
Fees for servicesLn 2g$165K
Gifts and grantsLn 1h$4K
Money outPt IX
$179K
Ln 25
Owns and owesPt X
−$46K
net assets · Ln 32
Cash and savingsLn 1–2$7K
Total assetsLn 16$7K
LiabilitiesLn 26$53K
PeoplePt VI, VII
2
listed · VII A
PaidVII A0
Voting boardVI 1a2
IndependentVI 1b2
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$4K
Government grantsLn 1e$0
Noncash giftsLn 1g$0
Fundraising eventsLn 1c$0
Fees for servicesLn 2g$165K
Total revenueLn 12$169K
Assets in detailPt X, end of year
CashLn 1$7K
Cash and savings togetherLn 1–2$7K
Total assetsLn 16$7K
LiabilitiesLn 26$53K
Net assetsLn 32−$46K
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$19K$7K
Total assetsLn 16$19K$7K
LiabilitiesLn 26$55K$53K
Net assetsLn 32−$36K−$46K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$1K
Office expensesLn 13$17K
InsuranceLn 23$6K
Other expenses (24a–d)Ln 24$102K
All other expensesLn 24e$53K
Total functional expensesLn 25$179K$0$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $213K$199K$14K−$32K 990 PDF
FY2023 Viewing $169K$179K−$10K−$46K 990 PDF
FY2022 $227K$256K−$29K−$36K 990 PDF
FY2021 Not on file
FY2020 $196K$224K−$28K−$4K 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $168,963 across 10 lines filed
VIII-1a Federated campaigns$0
VIII-1b Membership dues$0
VIII-1c Fundraising events$0
VIII-1d Related organizations$0
VIII-1e Government grants$0
VIII-1f All other contributions, gifts and grants$3,731
VIII-1g Noncash contributions (included above)$0
VIII-1h Total contributions, gifts and grants$3,731
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $165,232 · Unrelated business $0 · Excluded from tax $0$165,232
VIII-12 Total revenueRelated to mission $165,232 · Unrelated business $0 · Excluded from tax $0$168,963
Part IX · Statement of functional expenses $178,774 across 5 lines filed
IX-11c Accounting fees$1,282
IX-13 Office expenses$16,913
IX-23 Insurance$5,999
IX-24 Other expenses (24a–d)$101,964
IX-24e All other expenses$52,616
IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$178,774
Part X · Balance sheet $6,885 assets, 5 lines filed
X-1 Cash, non-interest-bearingStart of year $18,992$6,885
X-16 Total assetsStart of year $18,992$6,885
X-26 Total liabilitiesStart of year $55,400$53,104
X-32 Total net assets or fund balancesStart of year −$36,408−$46,219
X-33 Total liabilities and net assetsStart of year $18,992$6,885
Part XI · Reconciliation of net assets −$46,219 net assets at year end
XI-1 Total revenue$168,963
XI-2 Total expenses$178,774
XI-3 Revenue less expenses−$9,811
XI-4 Net assets at start of year−$36,408
XI-5 Net unrealized gains (losses) on investments$0
XI-6 Donated services and use of facilities$0
XI-7 Investment expenses$0
XI-8 Prior period adjustments$0
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year−$46,219

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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