Kappa Sigma Fraternity: Nonprofit Profile, Financials & Form 990 (EIN 75-0370925)

Revenue by fiscal year
FY2022	$757K
FY2023	$963K
FY2024	$931K
FY2025	$1.1M

Expenses by fiscal year
FY2022	$743K
FY2023	$898K
FY2024	$940K
FY2025	$1.1M

Net assets by fiscal year
FY2022	$57K
FY2023	$121K
FY2024	$131K
FY2025	$82K

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Dec 1940.

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

Who runs it and what they're paid

3 people listed on the 990.

Part VII, Section A · reportable compensation

Michael Formanek

Alumnus Advisor

$0Pt VII · Sec A

Jace Breeden

President

$0Pt VII · Sec A

Henry Maw

Treasurer

$0Pt VII · Sec A

See Kappa Sigma Fraternity executive salaries →

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

Provides meals, housing, education, and social programs for college fraternity members.

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3 programs · $1.0M · in their own filed words · FY2024

01

Provide social environment for members

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 75-0370925) · Dispute this line

$527Kprogram expense

02

Provided housing through rental of chapter house from southern methodist university

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 75-0370925) · Dispute this line

$322Kprogram expense

03

Provided meals to undergratduate members

Form 990 Part III, line 4, FY2024. The organization’s own words, as filed with the IRS. Find it at the IRS (EIN 75-0370925) · Dispute this line

$177Kprogram expense

By the numbers

The FY2025 990, line by line.

Download 990

from philanthropy.org

1The main four

Money inPt VIII

$1.1M

Ln 12

Gifts and grantsLn 1h$1.1M

Money outPt IX

$1.1M

Ln 25

Owns and owesPt X

$82K

net assets · Ln 32

Cash and savingsLn 1–2$14K

Total assetsLn 16$82K

LiabilitiesLn 26$0

PeoplePt VI, VII

3

listed · VII A

PaidVII A0

Voting boardVI 1a96

IndependentVI 1b96

2In more detail

Revenue in detailPt VIII

Gifts and grantsLn 1h$1.1M

Government grantsLn 1e$0

Noncash giftsLn 1g$0

Fundraising eventsLn 1c$0

Total revenueLn 12$1.1M

Assets in detailPt X, end of year

CashLn 1$14K

Cash and savings togetherLn 1–2$14K

Land, buildings, equipmentLn 10c$67K

Total assetsLn 16$82K

LiabilitiesLn 26$0

Net assetsLn 32$82K

OperationsPt I, VI

EmployeesI 50

VolunteersI 62

Fiscal year endsHeaderMay

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

Line	Start FY25	End FY25
Cash and savingsLn 1–2	$72K	$14K
Land, buildings, equipmentLn 10c	$60K	$67K
Total assetsLn 16	$131K	$82K
LiabilitiesLn 26	$0	$0
Net assetsLn 32	$131K	$82K

4Every line

Statement of functional expensesPt IX · every line

Line	Total	Programs	Management	Fundraising
Grants to domestic organizationsLn 1	$0
Grants to domestic individualsLn 2	$0
Grants and assistance to foreign recipientsLn 3	$0
Benefits paid to or for membersLn 4	$0
Pay of officers and key staff (Part IX, line 5)Ln 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	$650
OccupancyLn 16	$322K
TravelLn 17	$11K
Other expenses (24a–d)Ln 24	$765K
All other expensesLn 24e	$39K
Total functional expensesLn 25	$1.1M	$0	$0	$0

Filing history

Year	Money in	Money out	In minus out	Net assets	Download
FY2025 Latest ViewingFiled with the IRS Jan 13, 2026	$1.1M	$1.1M	−$57K	$82K	990 PDF
FY2024Filed with the IRS Aug 21, 2024	$931K	$940K	−$9K	$131K	990 PDF
FY2023Filed with the IRS Jul 27, 2023	$963K	$898K	$64K	$121K	990 PDF
FY2022Filed with the IRS Dec 13, 2022	$757K	$743K	$14K	$57K	990 PDF

Schedules filed Part IV

A · Public support I · Grants O · Explanations

See the full FY2025 990

Part I · Summary $1,080,456 revenue, 12 lines filed

I-8 Contributions and grantsPrior year $930,955$1,080,456

I-9 Program service revenuePrior year $0$0

I-10 Investment incomePrior year $0$0

I-11 Other revenuePrior year $0$0

I-12 Total revenuePrior year $930,955$1,080,456

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 $940,319$1,137,760

I-18 Total expensesPrior year $940,319$1,137,760

I-19 Revenue less expensesPrior year −$9,364−$57,304

Part VI · Governance 96 of 96 board members independent, 2 to look at

VI-1a Voting members of the governing body96

VI-1b Independent voting members96

VI-13 Written whistleblower policyNo

VI-15a Process for setting top official's payNo

VI-2 Family or business relationship among officers or directorsNo

VI-12a Written conflict of interest policyYes

VI-14 Document retention and destruction policyYes

Part VIII · Statement of revenue $1,080,456 across 9 lines filed

VIII-1a Federated campaigns$0

VIII-1b Membership dues$1,080,456

VIII-1c Fundraising events$0

VIII-1d Related organizations$0

VIII-1e Government grants$0

VIII-1f All other contributions, gifts and grants$0

VIII-1g Noncash contributions (included above)$0

VIII-1h Total contributions, gifts and grants$1,080,456

VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$1,080,456

Part IX · Statement of functional expenses $1,137,760 across 17 lines filed

IX-1 Grants to domestic organizations$0

IX-2 Grants to domestic individuals$0

IX-3 Grants and assistance to foreign recipients$0

IX-4 Benefits paid to or for members$0

IX-5 Pay of officers and key staff (Part IX, line 5)$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 fees$650

IX-16 Occupancy$321,712

IX-17 Travel$11,391

IX-24 Other expenses (24a–d)$765,072

IX-24e All other expenses$38,935

IX-25 Total functional expensesPrograms $0 · Management $0 · Fundraising $0$1,137,760

Part X · Balance sheet $81,595 assets, 25 lines filed

X-1 Cash, non-interest-bearingStart of year $71,520$14,217

X-2 Savings and temporary cash investmentsStart of year $0$0

X-3 Pledges and grants receivableStart of year $0$0

X-4 Accounts receivableStart of year $0$0

X-5 Loans to officers and key peopleStart of year $0$0

X-6 Loans to other insidersStart of year $0$0

X-7 Notes and loans receivableStart of year $0$0

X-8 Inventories for sale or useStart of year $0$0

X-9 Prepaid expenses and deferred chargesStart of year $0$0

X-10c Land, buildings and equipment, netStart of year $59,732$67,378

X-16 Total assetsStart of year $131,252$81,595

X-17 Accounts payable and accrued expensesStart of year $0$0

X-18 Grants payableStart of year $0$0

X-19 Deferred revenueStart of year $0$0

X-20 Tax-exempt bond liabilitiesStart of year $0$0

X-21 Escrow or custodial accountsStart of year $0$0

X-22 Loans from officers and insidersStart of year $0$0

X-23 Secured mortgages and notes payableStart of year $0$0

X-24 Unsecured notes and loans payableStart of year $0$0

X-26 Total liabilitiesStart of year $0$0

X-29 Capital stock or trust principalStart of year $0$0

X-30 Paid-in or capital surplusStart of year $131,252$81,595

X-31 Retained earnings or endowmentStart of year $0$0

X-32 Total net assets or fund balancesStart of year $131,252$81,595

X-33 Total liabilities and net assetsStart of year $131,252$81,595

Part XI · Reconciliation of net assets $81,595 net assets at year end

XI-1 Total revenue$1,080,456

XI-2 Total expenses$1,137,760

XI-3 Revenue less expenses−$57,304

XI-4 Net assets at start of year$131,252

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$7,647

XI-10 Net assets at end of year$81,595

Form 990 e-file FY2025 from the IRS (about our sources) · Classification, formation year and address from the IRS Business Master File

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Kappa Sigma Fraternity

Before you give

Is it real?

Who runs it and what they're paid

Questions the 990 asks

Programs and updates

Questions for Kappa Sigma Fraternity

By the numbers

Filing history

Schedules filed Part IV

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