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Sigma Alpha Epsilon Fraternity FY2022 filing

Not tax-deductible

Worcester, MA501(c)(7)Mutual / membership EIN 91-1959110Revenue $232K in FY2022

On file with the IRS6 Humboldt Ave, 01609-3104 · Worcester, MATax-exempt since Nov 1940

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Affordable undergraduate housing

501(c)(7) social or recreational club; gifts are not tax-deductible as charitable contributions.
100¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · 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
5 of 5
filings with a surplus
Average surplus $99K a year · 50% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
100%
of spending
Looks good: 100% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
23 mo
of spending, in cash
Looks good: 22.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$263K
34% of total assets
Looks good: liabilities are 34% of assets; 50% or less.
Pt X · Ln 26
Independent board members
6
of 6 voting members
Looks good: 6 of 6 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$232K
+11% vs prior year
Spent
$122K
To programs
100%
Net assets
$505K
By yearFY2020–FY2024
Revenue
$232K
FY2022▲ +11%
Tap a bar for its year
Revenue by fiscal year
FY2020$197K
FY2021$208K
FY2022$232K
FY2023$216K
FY2024$133K
Expenses
$122K
FY2022▲ +63%
Tap a bar for its year
Expenses by fiscal year
FY2020$112K
FY2021$75K
FY2022$122K
FY2023$99K
FY2024$83K
Net assets
$505K
FY2022▲ +8%
Tap a bar for its year
Net assets by fiscal year
FY2020$1.1M
FY2021$466K
FY2022$505K
FY2023$542K
FY2024$566K

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

990 PDF Claim
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 Nov 1940.

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

Where the money goes

100 cents of each dollar spent went to programs.

Program services 100% · $122K

Form 990 Part IX, line 25. Every line is in By the numbers.

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Who runs it and what they're paid

5 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Eric Reardon
VP Alumni Engagement
$0Pt VII · Sec A
Elijah Ellis
VP Housing
$0Pt VII · Sec A
$0Pt VII · Sec A
Arly Dungca
President
$0Pt VII · Sec A
Vincent Kan
Treasurer
$0Pt VII · Sec A
See Sigma Alpha Epsilon 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

Provides affordable housing for undergraduate students.

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Provided by the organization

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1 program · $122K · in their own filed words · FY2021
01

The goal of providing affordable undergraduate housing to our members of worcester polytechnic institute was achieved. Approximately 30 individuals benefitted from our organization.

$122Kprogram expense

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$232K
Ln 12
Gifts and grantsLn 1h$121K
Fees for servicesLn 2g$106K
Investment incomeLn 3$4K
Money outPt IX
$122K
Ln 25
Programscol B$122K
Owns and owesPt X
$505K
net assets · Ln 32
Cash and savingsLn 1–2$231K
Total assetsLn 16$768K
LiabilitiesLn 26$263K
PeoplePt VI, VII
5
listed · VII A
PaidVII A0
Voting boardVI 1a6
IndependentVI 1b6
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$121K
Fundraising eventsLn 1c$15K
Fees for servicesLn 2g$106K
Investment incomeLn 3$4K
Gains on assetsLn 7$2K
Total revenueLn 12$232K
Assets in detailPt X, end of year
CashLn 1$38K
SavingsLn 2$193K
Cash and savings togetherLn 1–2$231K
Land, buildings, equipmentLn 10c$537K
Total assetsLn 16$768K
LiabilitiesLn 26$263K
Net assetsLn 32$505K
OperationsPt I, VI
EmployeesI 50
VolunteersI 69
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$199K$231K
Land, buildings, equipmentLn 10c$559K$537K
Total assetsLn 16$758K$768K
LiabilitiesLn 26$292K$263K
Net assetsLn 32$466K$505K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Accounting feesLn 11c$2K$2K
Office expensesLn 13$2K$2K
InterestLn 20$9K$9K
Depreciation, depletion and amortizationLn 22$22K$22K
InsuranceLn 23$16K$16K
Other expenses (24a–d)Ln 24$69K$69K
All other expensesLn 24e$2K$2K
Total functional expensesLn 25$122K$122K$0$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest $133K$83K$50K$566K 990 PDF
FY2023 $216K$99K$117K$542K 990 PDF
FY2022 Viewing $232K$122K$109K$505K 990 PDF
FY2021 $208K$75K$133K$466K 990 PDF
FY2020 $197K$112K$85K$1.1M 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 $231,504 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $103,935$121,463
I-9 Program service revenuePrior year $103,780$106,370
I-10 Investment incomePrior year $454$3,671
I-11 Other revenue$0
I-12 Total revenuePrior year $208,169$231,504
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 $74,922$122,470
I-18 Total expensesPrior year $74,922$122,470
I-19 Revenue less expensesPrior year $133,247$109,034
Part VI · Governance 6 of 6 board members independent, 4 to look at
VI-1a Voting members of the governing body6
VI-1b Independent voting members6
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 $231,504 across 7 lines filed
VIII-1c Fundraising events$15,093
VIII-1f All other contributions, gifts and grants$106,370
VIII-1h Total contributions, gifts and grants$121,463
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $106,370$106,370
VIII-3 Investment incomeExcluded from tax $1,566$1,566
VIII-7 Net gain or loss on sales of assetsExcluded from tax $2,105$2,105
VIII-12 Total revenueRelated to mission $106,370 · Unrelated business $0 · Excluded from tax $3,671$231,504
Part IX · Statement of functional expenses $122,470 across 7 lines filed
IX-11c Accounting feesPrograms $2,400$2,400
IX-13 Office expensesPrograms $1,828$1,828
IX-20 InterestPrograms $8,843$8,843
IX-22 Depreciation, depletion and amortizationPrograms $21,832$21,832
IX-23 InsurancePrograms $16,100$16,100
IX-24 Other expenses (24a–d)Programs $69,387$69,387
IX-24e All other expensesPrograms $2,080$2,080
IX-25 Total functional expensesPrograms $122,470 · Management $0 · Fundraising $0$122,470
Part X · Balance sheet $768,294 assets, 9 lines filed
X-1 Cash, non-interest-bearingStart of year $82,520$37,879
X-2 Savings and temporary cash investmentsStart of year $116,821$193,174
X-10c Land, buildings and equipment, netStart of year $559,073$537,241
X-16 Total assetsStart of year $758,414$768,294
X-26 Total liabilitiesStart of year $292,422$263,051
X-27 Net assets without donor restrictionsStart of year $443,447$482,698
X-28 Net assets with donor restrictionsStart of year $22,545$22,545
X-32 Total net assets or fund balancesStart of year $465,992$505,243
X-33 Total liabilities and net assetsStart of year $758,414$768,294
Part XI · Reconciliation of net assets $505,243 net assets at year end
XI-1 Total revenue$231,504
XI-2 Total expenses$122,470
XI-3 Revenue less expenses$109,034
XI-4 Net assets at start of year$465,992
XI-5 Net unrealized gains (losses) on investments−$20,143
XI-8 Prior period adjustments−$49,640
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$505,243

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

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