Sigma Chi Fraternity Beta Kappa Chapter FY2022 filing

Not tax-deductible

Norman, OK501(c)(7)Since 1912EIN 73-6100261

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To develop value-based leaders who are committed to the betterment of their character, campus and communities.

95¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Programs: Part IX

Before you give

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
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
4 of 5
filings with a surplus
Average surplus $182K a year · 22% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
95%
of spending
Looks good: 95% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
3 mo
of spending, in cash
Looks good: 3.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$868K
50% of total assets
Looks good: liabilities are 50% of assets; 50% or less.
Pt X · Ln 26
Independent board members
5
of 5 voting members
Looks good: 5 of 5 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$790K
+38% vs prior year
Spent
$626K
To programs
95%
Net assets
$854K
By yearFY2020–FY2024
Revenue
$790K
FY2022▲ +38%
Revenue by fiscal year
FY2020$630K
FY2021$572K
FY2022$790K
FY2023$921K
FY2024$1.3M
FY2024$1.0M
Expenses
$626K
FY2022▲ +4%
Expenses by fiscal year
FY2020$532K
FY2021$600K
FY2022$626K
FY2023$699K
FY2024$824K
FY2024$1.2M
Net assets
$854K
FY2022▲ +24%
Net assets by fiscal year
FY2020$718K
FY2021$690K
FY2022$854K
FY2023$1.1M
FY2024$1.5M
FY2024$1.4M

From the FY2022 Form 990 (year ending July 2022) · figures checked against the IRS filing · see the original

You’re viewing the FY2022 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 Feb 1937.

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

Where the money goes

95 cents of each dollar spent went to programs.

Program services 95% · $595K Management & general 5% · $31K

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

3 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
President
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Secretary
$0Pt VII · Sec A

Compensation history total reportable pay by year · 2 named individuals · Part VII

NameFY2024FY2024
Mark Welch$24,000$14,000
Dathan Shades$24,000$14,000

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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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

Sigma Chi Fraternity Beta Kappa Chapter is a member-serving organization based in Norman, OK, formed in 1912.

Provided by the organization

This section is blank until Sigma Chi Fraternity Beta Kappa Chapter claims this page.

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1 program service, described in the organization's own filed words · FY2021.
01

Thirty percent of the Beta Kappa of Sigma Chi students earned a 3.5 or above grade point average this school year. The men of Beta Kappa of Sigma Chi actively participate in the Derby Day online challenge to raise funds for research at the Huntsman Cancer Institute.

Pt IX · col B

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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 · 3 grants · $192K · 2023–2024
Sigma Chi FoundationIL · FY2024$150,000
Unitemized GrantFY2024$14,400
Unitemized GrantFY2023$27,350

By the numbers

The FY2022 990, line by line.

1The main four
Money inPt VIII
$790K
Ln 12
Gifts and grantsLn 1h$795K
Investment incomeLn 3$110
Money outPt IX
$626K
Ln 25
Programscol B$595K
Managementcol C$31K
Owns and owesPt X
$854K
net assets · Ln 32
Cash and savingsLn 1–2$154K
Total assetsLn 16$1.7M
LiabilitiesLn 26$868K
PeoplePt VI, VII
3
listed · VII A
PaidVII A0
Voting boardVI 1a5
IndependentVI 1b5
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$795K
Investment incomeLn 3$110
Gains on assetsLn 7−$5K
Total revenueLn 12$790K
Assets in detailPt X, end of year
CashLn 1$26K
SavingsLn 2$128K
Cash and savings togetherLn 1–2$154K
Land, buildings, equipmentLn 10c$1.2M
Total assetsLn 16$1.7M
LiabilitiesLn 26$868K
Net assetsLn 32$854K
OperationsPt I, VI
EmployeesI 51
VolunteersI 650
Fiscal year endsHeaderJuly
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$133K$154K
Land, buildings, equipmentLn 10c$1.1M$1.2M
Total assetsLn 16$1.6M$1.7M
LiabilitiesLn 26$937K$868K
Net assetsLn 32$691K$854K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Other salaries and wagesLn 7$38K$38K$0$0
Payroll taxesLn 10$3K$3K$0$0
Accounting feesLn 11c$30K$6K$24K$0
Office expensesLn 13$284$284$0$0
OccupancyLn 16$268K$268K$0$0
InterestLn 20$18K$18K$0$0
Depreciation, depletion and amortizationLn 22$49K$49K$0$0
InsuranceLn 23$48K$48K$0$0
Other expenses (24a–d)Ln 24$156K$156K$0$0
All other expensesLn 24e$17K$10K$7K$0
Total functional expensesLn 25$626K$595K$31K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.3M$824K$455K$1.5M 990 PDF
FY2023 $921K$699K$222K$1.1M 990 PDF
FY2022 Viewing $790K$626K$163K$854K 990 PDF
FY2021 $572K$600K−$28K$690K 990 PDF
FY2020 $630K$532K$97K$718K 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 FY2022 990 (4 parts)
Part VIII · Statement of revenue $789,659 across 6 lines filed
VIII-1b Membership dues$776,139
VIII-1d Related organizations$18,400
VIII-1h Total contributions, gifts and grants$794,539
VIII-3 Investment incomeUnrelated business $0 · Excluded from tax $110$110
VIII-7 Net gain or loss on sales of assetsRelated to mission −$4,990 · Unrelated business $0 · Excluded from tax $0−$4,990
VIII-12 Total revenueRelated to mission −$4,990 · Unrelated business $0 · Excluded from tax $110$789,659
Part IX · Statement of functional expenses $626,193 across 10 lines filed
IX-7 Other salaries and wagesPrograms $37,892 · Management $0 · Fundraising $0$37,892
IX-10 Payroll taxesPrograms $3,059 · Management $0 · Fundraising $0$3,059
IX-11c Accounting feesPrograms $5,680 · Management $24,020 · Fundraising $0$29,700
IX-13 Office expensesPrograms $284 · Management $0 · Fundraising $0$284
IX-16 OccupancyPrograms $267,798 · Management $0 · Fundraising $0$267,798
IX-20 InterestPrograms $17,866 · Management $0 · Fundraising $0$17,866
IX-22 Depreciation, depletion and amortizationPrograms $49,098 · Management $0 · Fundraising $0$49,098
IX-23 InsurancePrograms $47,991 · Management $0 · Fundraising $0$47,991
IX-24 Other expenses (24a–d)Programs $155,884 · Management $0 · Fundraising $0$155,884
IX-24e All other expensesPrograms $9,521 · Management $7,100 · Fundraising $0$16,621
IX-25 Total functional expensesPrograms $595,073 · Management $31,120 · Fundraising $0$626,193
Part X · Balance sheet $1,721,748 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $6,888$26,247
X-2 Savings and temporary cash investmentsStart of year $126,274$127,984
X-3 Pledges and grants receivableStart of year $4,620$2,020
X-4 Accounts receivableStart of year $365,274$367,260
X-9 Prepaid expenses and deferred chargesStart of year $1,354$822
X-10c Land, buildings and equipment, netStart of year $1,123,443$1,197,415
X-16 Total assetsStart of year $1,627,853$1,721,748
X-17 Accounts payable and accrued expensesStart of year $10,087$37,543
X-19 Deferred revenueStart of year $366,895$404,050
X-24 Unsecured notes and loans payableStart of year $557,675$423,493
X-25 Other liabilitiesStart of year $2,684$2,684
X-26 Total liabilitiesStart of year $937,341$867,770
X-32 Total net assets or fund balancesStart of year $690,512$853,978
X-33 Total liabilities and net assetsStart of year $1,627,853$1,721,748
Part XI · Reconciliation of net assets $853,978 net assets at year end
XI-1 Total revenue$789,659
XI-2 Total expenses$626,193
XI-3 Revenue less expenses$163,466
XI-4 Net assets at start of year$690,512
XI-10 Net assets at end of year$853,978

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

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