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Gamma Iota Sigma Foundation

Tax-deductible

Powell, OH501(c)(3)EducationEIN 92-1073408Revenue $246K in FY2024

On file with the IRSgis-foundation.orgPo Box 1744, 43065-1744 · Powell, OHTax-exempt since Aug 2024Publicly supported charity — 170(b)(1)(A)(vi)

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Equitable access for students pursuing careers in insurance, risk management & actuarial science.

501(c)(3) charity; gifts are tax-deductible.
91¢ of each $1 spent went to programs.
Run by 15 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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
2 of 2
filings with a surplus
Average surplus $173K a year · 63% of revenue · last 2 filings
Looks good: a surplus in 2 of the last 2 filings.
Pt I · Ln 19 · 2 filings
Spent on programs
91%
of spending
Looks good: 91% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
51 mo
of spending, in cash
Looks good: 50.7 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $100K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 14 voting members
Looks good: 13 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$246K
-18% vs prior year
Spent
$113K
To programs
91%
Net assets
$545K
By yearFY2023–FY2024
Revenue
$246K
FY2024▼ -18%
Tap a bar for its year
Revenue by fiscal year
FY2023$302K
FY2024$246K
Expenses
$113K
FY2024▲ +26%
Tap a bar for its year
Expenses by fiscal year
FY2023$90K
FY2024$113K
Net assets
$545K
FY2024▲ +32%
Tap a bar for its year
Net assets by fiscal year
FY2023$412K
FY2024$545K

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Aug 2024.

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

Where the money goes

91 cents of each dollar spent went to programs.

Program services 91% · $103K Management & general 9% · $10K

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

20 people listed on the 990.

Part VII, Section A · reportable compensation
Grace Grant
Executive Director
$0Pt VII · Sec A
Nick Abraham
President
$0Pt VII · Sec A
Michael Klein
Immediate Past President
$0Pt VII · Sec A
Dan Spragg
Executive Vice President
$0Pt VII · Sec A
Debbie Goldstine
Vice President (term Start 9/2024)
$0Pt VII · Sec A
Tay Hoang
Vice President
$0Pt VII · Sec A
Jason Warden
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
See Gamma Iota Sigma Foundation 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

Helps students get jobs in insurance, risk management, and actuarial science.

Provided by the organization

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1 program · $103K · in their own filed words · FY2024
01

The foundation's focus areas include mental wellness, professional development, accessibility, and chapter support. Mental wellness focuses on mental health resources, peer networking spaces, and holistic programming at conferences.

$103Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Charities Aid Foundation AmericaFY2024$100K
Total grants receivedfrom 1 funder$100K
Grants paid · 8 grants · $111K · 2023–2024
Unitemized GrantFY2024$26,249
Unitemized GrantFY2024$14,900
Fisk UniversityTN · FY2024$5,680
Unitemized GrantFY2024$700
Unitemized GrantFY2023$47,059
Unitemized GrantFY2023$13,750
Unitemized GrantFY2023$2,000
Unitemized GrantFY2023$1,050

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$246K
Ln 12
Gifts and grantsLn 1h$246K
Money outPt IX
$113K
Ln 25
Programscol B$103K
Managementcol C$10K
Owns and owesPt X
$545K
net assets · Ln 32
Cash and savingsLn 1–2$479K
Total assetsLn 16$545K
LiabilitiesLn 26$0
PeoplePt VI, VII
20
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$246K
Total revenueLn 12$246K
Assets in detailPt X, end of year
CashLn 1$479K
Cash and savings togetherLn 1–2$479K
Other assetsLn 15$48K
Total assetsLn 16$545K
LiabilitiesLn 26$0
Net assetsLn 32$545K
OperationsPt I, VI
EmployeesI 50
VolunteersI 615
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$479K
Total assetsLn 16$412K$545K
LiabilitiesLn 26$0$0
Net assetsLn 32$412K$545K
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$25K$25K
Grants to domestic individualsLn 2$42K$42K
Accounting feesLn 11c$7K$7K
Other fees for servicesLn 11g$14K$14K
Information technologyLn 14$3K$426$2K
Conferences, conventions and meetingsLn 19$21K$21K$600
Total functional expensesLn 25$113K$103K$10K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $246K$113K$133K$545K 990 PDF
FY2023 $302K$90K$212K$412K 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 FY2024 990 (6 parts)
Part I · Summary $246,200 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $301,769$246,200
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 $301,769$246,200
I-13 Grants and similar amounts paidPrior year $80,869$67,259
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 $8,786$45,942
I-18 Total expensesPrior year $89,655$113,201
I-19 Revenue less expensesPrior year $212,114$132,999
Part VI · Governance 13 of 14 board members independent, 2 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members13
VI-12a Written conflict of interest policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $246,200 across 3 lines filed
VIII-1f All other contributions, gifts and grants$246,200
VIII-1h Total contributions, gifts and grants$246,200
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $0$246,200
Part IX · Statement of functional expenses $113,201 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $25,410$25,410
IX-2 Grants to domestic individualsPrograms $41,849$41,849
IX-11c Accounting feesManagement $7,200$7,200
IX-11g Other fees for servicesPrograms $14,335$14,335
IX-14 Information technologyPrograms $426 · Management $2,497$2,923
IX-19 Conferences, conventions and meetingsPrograms $20,884 · Management $600$21,484
IX-25 Total functional expensesPrograms $102,904 · Management $10,297 · Fundraising $0$113,201
Part X · Balance sheet $544,932 assets, 9 lines filed
X-1 Cash, non-interest-bearing$478,679
X-3 Pledges and grants receivable$18,379
X-15 Other assetsStart of year $411,933$47,874
X-16 Total assetsStart of year $411,933$544,932
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $411,933$526,553
X-28 Net assets with donor restrictions$18,379
X-32 Total net assets or fund balancesStart of year $411,933$544,932
X-33 Total liabilities and net assetsStart of year $411,933$544,932
Part XI · Reconciliation of net assets $544,932 net assets at year end
XI-1 Total revenue$246,200
XI-2 Total expenses$113,201
XI-3 Revenue less expenses$132,999
XI-4 Net assets at start of year$411,933
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$544,932

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

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