Civic Intelligence

Phi Kappa Theta Fraternity Inc

990 • Fiscal year 2019 • EIN 04-2200265

Jun 01, 2018 to May 31, 2019 • Filed on Jul 10, 2019

2901 W 86th Street Ste 360Indianapolis, IN 46268

(317) 872-9934

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

91st percentile

0.76x

Higher debt load relative to assets than 91% of similar nonprofits.

2019 filings • 501(c)7 • $500k-$1M nonprofits • Source year 2019

Liabilities / Revenue

66th percentile

0.30x

Higher debt load relative to revenue than 66% of similar nonprofits.

2019 filings • 501(c)7 • $500k-$1M nonprofits • Source year 2019

Net Margin

16th percentile

-8.7%

Higher net margin than 16% of similar nonprofits.

2019 filings • 501(c)7 • $500k-$1M nonprofits • Source year 2019

Top Officer Pay

99th percentile

$95,350

Higher top officer pay than 99% of similar nonprofits.

Top officer pay equals 9.6% of source-year revenue.

2019 filings • 501(c)7 • $500k-$1M nonprofits • Source year 2019

Asset Growth

7th percentile

-18%

Faster asset growth than 7% of similar nonprofits.

2019 filings • 501(c)7 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Revenue Growth

43rd percentile

1.2%

Faster revenue growth than 43% of similar nonprofits.

2019 filings • 501(c)7 • $500k-$1M nonprofits • Annualized from 2018 to 2019

Assets

Down

$387,519

Down $87,385 (-18%) from 2018

Net Assets

Down

$91,395

Down $93,402 (-51%) from 2018

Liabilities

Up

$296,124

Up $6,017 (+2.1%) from 2018

Revenue

Up

$989,656

Up $12,061 (+1.2%) from 2018

Expenses

Up

$1,076,157

Up $80,165 (+8.0%) from 2018

Net Income

Down

-$86,501

Down $68,104 (-370%) from 2018

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$800K$600K$400K$200K$0-$200KAssets 2011: $384,589Liabilities 2011: $210,056Net Assets 2011: $174,5332011Assets 2012: $412,018Liabilities 2012: $191,150Net Assets 2012: $220,8682012Assets 2013: $500,643Liabilities 2013: $183,048Net Assets 2013: $317,5952013Assets 2015: $662,176Liabilities 2015: $273,966Net Assets 2015: $388,2102015Assets 2016: $621,006Liabilities 2016: $287,328Net Assets 2016: $333,6782016Assets 2017: $517,997Liabilities 2017: $299,479Net Assets 2017: $218,5182017Assets 2018: $474,904Liabilities 2018: $290,107Net Assets 2018: $184,7972018Assets 2019: $387,519Liabilities 2019: $296,124Net Assets 2019: $91,3952019Assets 2020: $366,532Liabilities 2020: $328,688Net Assets 2020: $37,8442020Assets 2021: $411,197Liabilities 2021: $287,868Net Assets 2021: $123,3292021Assets 2022: $240,852Liabilities 2022: $299,818Net Assets 2022: -$58,9662022Assets 2024: $566,861Liabilities 2024: $250,287Net Assets 2024: $316,5742024Assets 2025: $366,328Liabilities 2025: $215,102Net Assets 2025: $151,2262025

Highlighted filing

2019

Assets$387,519
Liabilities$296,124
Net Assets$91,395

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$1.5M$1.0M$500K$0-$500KRevenue 2011: $747,802Expenses 2011: $732,454Net Income 2011: $15,3482011Revenue 2012: $743,180Expenses 2012: $691,945Net Income 2012: $51,2352012Revenue 2013: $839,581Expenses 2013: $745,007Net Income 2013: $94,5742013Revenue 2015: $898,716Expenses 2015: $938,011Net Income 2015: -$39,2952015Revenue 2016: $1,009,846Expenses 2016: $1,057,880Net Income 2016: -$48,0342016Revenue 2017: $860,830Expenses 2017: $981,132Net Income 2017: -$120,3022017Revenue 2018: $977,595Expenses 2018: $995,992Net Income 2018: -$18,3972018Revenue 2019: $989,656Expenses 2019: $1,076,157Net Income 2019: -$86,5012019Revenue 2020: $826,404Expenses 2020: $878,967Net Income 2020: -$52,5632020Revenue 2021: $614,964Expenses 2021: $551,175Net Income 2021: $63,7892021Revenue 2022: $770,851Expenses 2022: $937,558Net Income 2022: -$166,7072022Revenue 2024: $798,615Expenses 2024: $765,733Net Income 2024: $32,8822024Revenue 2025: $875,439Expenses 2025: $759,728Net Income 2025: $115,7112025

Highlighted filing

2019

Revenue$989,656
Expenses$1,076,157
Net Income-$86,501
Jump To
Filing Snapshot
Filing Period
Jun 1, 2018 to May 31, 2019
Signed
Jul 10, 2019
Return Version
2018v3.1
Gross Receipts
$989,656
Mission and Program Overview

Mission

Phi kappa theta actively develops men to be effective leaders who passionately serve society, fraternity and god.

Balance Sheet Detail
LineBeginningEndChange
Assets
Savings and Temporary Cash Investments$132,778$131,290▼ $1,488
Accounts Receivable$191,020$107,604▼ $83,416
Prepaid Expenses and Deferred Charges$58,559$62,556▲ $3,997
Cash and Non-Interest-Bearing Accounts$25,700$22,529▼ $3,171
Land, Buildings, and Equipment, Net$12,603$8,642▼ $3,961
Inventories for Sale or Use$1,425$2,079▲ $654
Total Assets$474,904$387,519▼ $87,385
Other Assets Total$52,819$52,819→ $0
Liabilities
Accounts Payable and Accrued Expenses$76,513$137,347▲ $60,834
Other Liabilities$130,209$86,662▼ $43,547
Deferred Revenue$83,385$72,115▼ $11,270
Total Liabilities$290,107$296,124▲ $6,017
Net Assets / Fund Balance
Unrestricted Net Assets$184,797$91,395▼ $93,402
Total Net Assets Fund Balance$184,797$91,395▼ $93,402
Total Liabilities and Net Assets / Fund Balance$474,904$387,519▼ $87,385

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$8,642$105,158$113,800
Other Land Buildings-$13,000$13,000
Other Assets Org$52,819--
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseTotal
Robert RiggsExecutive ViPT$95,350$95,350

Board Members and Trustees

NameTitle
Jared GrieveUgac Chairma
Adrian GonzalezPresident
Dan BureauTrustee
Joseph PrzybylaTrustee
Matthew RunkleTrustee
Michael Van PootsTrustee
Max JasperSecretary
Douglas DillingTreasurer
Drew ClarkUgac Vice Ch
Ross WaltersVice Preside
Revenue and Support

Revenue Composition

Contributions and Grants
$226,369
Program Service Revenue
$722,559
Investment Income
$7,148
Other Revenue
$33,580
All Other Contributions
$226,369
Change in Net Assets
$-86,501

Audited Revenue Reconciliation

Revenue per Audited Statements
$989,656
Revenue Not Reported on Form 990
$-6,901
Total Revenue per Audited Statements
$982,755
Total Revenue per Form 990
$989,656
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$676,008
Salaries, Compensation, and Employee Benefits$400,149
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$159,804$74,927-$234,731
Conferences and Meetings$160,109$574-$160,683
Current Officers, Directors, Trustees, and Key Employees-$95,350-$95,350
Insurance$80,934$9,847-$90,781
Occupancy$29,692$17,716-$47,408
Fees for Services Management$26,692$17,795-$44,487
Information Technology$19,167$13,182-$32,349
Office Expenses$26,867$3,868-$30,735
Other Employee Benefits$9,913$20,817-$30,730
Payroll Taxes$14,852$11,435-$26,287
All Other Expenses$6,119$12,172-$18,291
Fees for Services Other$9,101$6,114-$15,215
Pension Plan Contributions$13,051--$13,051
Other Expenses$3,215$6,931-$10,146
Interest$5,037$4,154-$9,191
Depreciation Depletion-$3,962-$3,962
Total Functional Expenses$677,064$399,093$0$1,076,157

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$1,076,157
Total Expenses per Audited Statements$1,076,157
Total Expenses per Form 990$1,076,157
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Long-term Debt, Less Current Portion$41,853
Reserve for Insurance Claims$25,000
Current Portion of Long-term Debt$19,809
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
Yes
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

There are two classes of membership: collegiate and alumnus. A collegiate member shall be defined as a male student duly initiated in the bonds, in attendance at a school where a collegiate chapter of the fraternity has been installed and chartered, and is entitled to full membership privileges while in good standing. However, where institutions of higher learning are located in the same vicinity or city where a regularly chartered chapter is already in existence, at such an institution collegiate membership may be granted to students in such other institutions subject to all other membership qualifications, and subject to the specific prior approval of the board of trustees. An alumnus member of this fraternity shall be one who has been properly elected and initiated as herein provided and who is not a collegiate member of a chapter, an alumni member of a local fraternity, and one who pays the regular initiation fee.

Form 990, Page 6, Part VI, Line 7A

Members vote on board members at the convention that is held every other year. As soon as it is convenient after the election of the members to the international board of trustees at the current convention, they, with the members of the board holding over, shall meet to select from their own members an international president, international vice president, a secretary and a treasurer. The board may combine the offices. The board shall then select an international chaplain.

Form 990, Page 6, Part VI, Line 10B

The fraternity has individual chapters nationwide. The fraternity's role is to guide these chapters with resources and best practices and not to indepedently and individually supervise these chapters.

Form 990, Page 6, Part VI, Line 11B

The return is reviewed by the board before filing. The final return is distributed to the entire board.

Form 990, Page 6, Part VI, Line 12C

All employees, board members and officers are required to sign an annual declaration of any conflicts of interest.

Form 990, Page 6, Part VI, Line 15A

The board conducts an annual review of the executive vice president and jointly decides on compensation.

Form 990, Page 6, Part VI, Line 19

Copies of the federal form 990 and application for exemption, other governing documents, conflict of interest policy and financial statements are made available upon request (subject to the charges permitted by law to any indivuals requesting).

Filing and Contact Details

Filer

Filer Name
Phi Kappa Theta Fraternity Inc
EIN
04-2200265
Phone
3178729934
Address
2901 W 86TH STREET STE 360, INDIANAPOLIS, IN 46268

Signing Officer

Name
Robert Riggs
Title
Executive Vice Pres.
Phone
3175364746
Signed
2019-07-10
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert Riggs
Formed
1959
Legal Domicile
Oh
Voting Board Members
10
Independent Board Members
10
Employees
8

Preparer

Firm
Petrow Kane Leemhuis Pc
Address
8440 WOODFIELD CROSSING 345, INDIANAPOLIS, IN 46240
Preparer
John S Leemhuis
Phone
3174524700
Supplemental Narrative

Financial Statement Notes

Schedule D, Page 3, Part X

In consideration of asc 740-10-25 accounting for uncertainties in income taxes, the fraternity has not taken any uncertain tax positions that should be recognized in the accompanying financial statements. The fraternitys exempt organization tax returns for the years ended may 31, 2018, 2017 and 2016 are subject to examination by the internal revenue service.

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IRS990/OtherExpensesGrp/Desc2DUES AND SUBSCRIPTIONS
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IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0LONG-TERM DEBT, LESS CURRENT PORTION
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc1RESERVE FOR INSURANCE CLAIMS
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc2CURRENT PORTION OF LONG-TERM DEBT
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0IN CONSIDERATION OF ASC 740-10-25 ACCOUNTING FOR UNCERTAINTIES IN INCOME TAXES, THE FRATERNITY HAS NOT TAKEN ANY UNCERTAIN TAX POSITIONS THAT SHOULD BE RECOGNIZED IN THE ACCOMPANYING FINANCIAL STATEMENTS. THE FRATERNITYS EXEMPT ORGANIZATION TAX RETURNS FOR THE YEARS ENDED MAY 31, 2018, 2017 AND 2016 ARE SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 3, PART X
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THERE ARE TWO CLASSES OF MEMBERSHIP: COLLEGIATE AND ALUMNUS. A COLLEGIATE MEMBER SHALL BE DEFINED AS A MALE STUDENT DULY INITIATED IN THE BONDS, IN ATTENDANCE AT A SCHOOL WHERE A COLLEGIATE CHAPTER OF THE FRATERNITY HAS BEEN INSTALLED AND CHARTERED, AND IS ENTITLED TO FULL MEMBERSHIP PRIVILEGES WHILE IN GOOD STANDING. HOWEVER, WHERE INSTITUTIONS OF HIGHER LEARNING ARE LOCATED IN THE SAME VICINITY OR CITY WHERE A REGULARLY CHARTERED CHAPTER IS ALREADY IN EXISTENCE, AT SUCH AN INSTITUTION COLLEGIATE MEMBERSHIP MAY BE GRANTED TO STUDENTS IN SUCH OTHER INSTITUTIONS SUBJECT TO ALL OTHER MEMBERSHIP QUALIFICATIONS, AND SUBJECT TO THE SPECIFIC PRIOR APPROVAL OF THE BOARD OF TRUSTEES. AN ALUMNUS MEMBER OF THIS FRATERNITY SHALL BE ONE WHO HAS BEEN PROPERLY ELECTED AND INITIATED AS HEREIN PROVIDED AND WHO IS NOT A COLLEGIATE MEMBER OF A CHAPTER, AN ALUMNI MEMBER OF A LOCAL FRATERNITY, AND ONE WHO PAYS THE REGULAR INITIATION FEE.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1MEMBERS VOTE ON BOARD MEMBERS AT THE CONVENTION THAT IS HELD EVERY OTHER YEAR. AS SOON AS IT IS CONVENIENT AFTER THE ELECTION OF THE MEMBERS TO THE INTERNATIONAL BOARD OF TRUSTEES AT THE CURRENT CONVENTION, THEY, WITH THE MEMBERS OF THE BOARD HOLDING OVER, SHALL MEET TO SELECT FROM THEIR OWN MEMBERS AN INTERNATIONAL PRESIDENT, INTERNATIONAL VICE PRESIDENT, A SECRETARY AND A TREASURER. THE BOARD MAY COMBINE THE OFFICES. THE BOARD SHALL THEN SELECT AN INTERNATIONAL CHAPLAIN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FRATERNITY HAS INDIVIDUAL CHAPTERS NATIONWIDE. THE FRATERNITY'S ROLE IS TO GUIDE THESE CHAPTERS WITH RESOURCES AND BEST PRACTICES AND NOT TO INDEPEDENTLY AND INDIVIDUALLY SUPERVISE THESE CHAPTERS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE RETURN IS REVIEWED BY THE BOARD BEFORE FILING. THE FINAL RETURN IS DISTRIBUTED TO THE ENTIRE BOARD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4ALL EMPLOYEES, BOARD MEMBERS AND OFFICERS ARE REQUIRED TO SIGN AN ANNUAL DECLARATION OF ANY CONFLICTS OF INTEREST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE BOARD CONDUCTS AN ANNUAL REVIEW OF THE EXECUTIVE VICE PRESIDENT AND JOINTLY DECIDES ON COMPENSATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6COPIES OF THE FEDERAL FORM 990 AND APPLICATION FOR EXEMPTION, OTHER GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY AND FINANCIAL STATEMENTS ARE MADE AVAILABLE UPON REQUEST (SUBJECT TO THE CHARGES PERMITTED BY LAW TO ANY INDIVUALS REQUESTING).
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 10B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
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