Civic Intelligence

Phi Sigma Kappa Foundation Incorporated

990 • Fiscal year 2016 • EIN 23-6261152

Jul 01, 2015 to Jun 30, 2016 • Filed on Feb 13, 2017

2925 East 96th StreetIndianapolis, IN 46240-1368

(317) 573-5420

Siviq Scores

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

Liabilities / Assets

20th percentile

0.00x

Higher debt load relative to assets than 20% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Liabilities / Revenue

19th percentile

0.01x

Higher debt load relative to revenue than 19% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Net Margin

93rd percentile

53%

Higher net margin than 93% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Top Officer Pay

35th percentile

$0

Higher top officer pay than 35% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2016

Asset Growth

78th percentile

15%

Faster asset growth than 78% of similar nonprofits.

2016 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2013 to 2016

Revenue Growth

Score unavailable

No value available

No earlier valid filing was available within the previous three public years.

Source year 2016

Assets

Up

$1,697,305

Up $584,664 (+53%) from 2013

Net Assets

Up

$1,691,207

Up $589,380 (+53%) from 2013

Liabilities

Down

$6,098

Down $4,716 (-44%) from 2013

Revenue

$847,643

No earlier filing loaded for comparison.

Expenses

Down

$395,756

Down $97,290 (-20%) from 2013

Net Income

$451,887

No earlier filing loaded for comparison.

Historical Trend

Balance Sheet Trend

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2011: $1,382,367Liabilities 2011: $10,515Net Assets 2011: $1,371,8522011Assets 2012: $1,203,502Liabilities 2012: $4,127Net Assets 2012: $1,199,3752012Assets 2013: $1,112,641Liabilities 2013: $10,814Net Assets 2013: $1,101,8272013Assets 2016: $1,697,305Liabilities 2016: $6,098Net Assets 2016: $1,691,2072016Assets 2017: $1,940,685Liabilities 2017: $51,727Net Assets 2017: $1,888,9582017Assets 2021: $2,194,281Liabilities 2021: $1,646Net Assets 2021: $2,192,6352021Assets 2022: $2,952,369Liabilities 2022: $46,758Net Assets 2022: $2,905,6112022Assets 2023: $3,280,720Liabilities 2023: $42,183Net Assets 2023: $3,238,5372023Assets 2024: $3,993,297Liabilities 2024: $89,683Net Assets 2024: $3,903,6142024

Highlighted filing

2016

Assets$1,697,305
Liabilities$6,098
Net Assets$1,691,207

Operations Trend

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

$2.0M$1.5M$1.0M$500K$0Expenses 2011: $449,8052011Expenses 2012: $511,6332012Expenses 2013: $493,0462013Revenue 2016: $847,643Expenses 2016: $395,756Net Income 2016: $451,8872016Revenue 2017: $937,069Expenses 2017: $452,880Net Income 2017: $484,1892017Revenue 2021: $750,017Expenses 2021: $708,889Net Income 2021: $41,1282021Revenue 2022: $1,617,464Expenses 2022: $648,859Net Income 2022: $968,6052022Revenue 2023: $918,370Expenses 2023: $608,747Net Income 2023: $309,6232023Revenue 2024: $1,186,349Expenses 2024: $825,178Net Income 2024: $361,1712024

Highlighted filing

2016

Revenue$847,643
Expenses$395,756
Net Income$451,887
Jump To
Filing Snapshot
Filing Period
Jul 1, 2015 to Jun 30, 2016
Signed
Feb 13, 2017
Return Version
2015v3.0
Gross Receipts
$908,798
Mission and Program Overview

Mission

To promote educational, literary, and charitable purposes by promoting scholarships, student aid, and assistance to needy and deserving students, the development and fostering of the aims and purposes the educational work of the national fraternity of phi sigma kappa, and other charitable purposes as may be deemed from time to time by the foundation's trustees.

To promote educational, literary, and charitable purpose by promoting scholarships, student aid, and assistance to needy and deserving students, the development and fostering of the aims and purposes of the educational work of the national fraternity of phi sigma kappa and other charitable purposes as may be deemed from time to time by the foundation's trustee.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$401,049$977,537▲ $576,488
Land, Buildings, and Equipment, Net$650,000$650,000→ $0
Cash and Non-Interest-Bearing Accounts$19,530$69,768▲ $50,238
Accounts Receivable$4,115--
Prepaid Expenses and Deferred Charges$230--
Total Assets$1,266,343$1,697,305▲ $430,962
Other Assets Total$191,419$0▼ $191,419
Liabilities
Accounts Payable and Accrued Expenses$14,224$3,115▼ $11,109
Other Liabilities$2,983$2,983→ $0
Total Liabilities$17,207$6,098▼ $11,109
Net Assets / Fund Balance
Temporarily Rstr Net Assets$251,073$738,767▲ $487,694
Unrestricted Net Assets$546,742$575,815▲ $29,073
Permanently Rstr Net Assets$451,321$376,625▼ $74,696
Total Net Assets Fund Balance$1,249,136$1,691,207▲ $442,071
Total Liabilities and Net Assets / Fund Balance$1,266,343$1,697,305▲ $430,962

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$650,000$87,381$737,381
Equipment$0$68,502$68,502

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$702,394$421,578▲ $49,942$7$1,115,385
2014$792,205$16,627▲ $15,838$48,194$702,394
2013$572,700$172,460▲ $47,045-$792,205
2012$512,136$23,580▲ $37,318-$572,700
2011$541,753$19,188▼ $2,440-$512,136
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$769,167
Program Service Revenue
$0
Investment Income
$27,476
Other Revenue
$51,000
All Other Contributions
$769,167
Change in Net Assets
$451,887
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$232,132
Total Fundraising Expense$119,352
Other Expenses$83,127
Salaries, Compensation, and Employee Benefits$80,497
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$182,755--$182,755
Pension Plan Contributions--$65,933$65,933
Grants to Domestic Individuals$49,377--$49,377
Conferences and Meetings$10,177$5,209$4,330$19,716
Travel-$261$17,133$17,394
Office Expenses-$2,643$14,577$17,220
Occupancy-$10,379-$10,379
Other Employee Benefits-$1,215$8,190$9,405
Other Expenses-$8,083-$8,083
Payroll Taxes--$5,159$5,159
Information Technology-$2,830$1,213$4,043
Fees for Services Accounting-$3,355-$3,355
Advertising--$2,817$2,817
Fees for Services Legal-$120-$120
Total Functional Expenses$242,309$34,095$119,352$395,756
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Grand Chapter of Phi Sigma KappaIndianapolis, IN501(c)(7)Leadership and Education Grants$146,850
Grand Chapter of Phi Sigma KappaIndianapolis, IN501(c)(7)Publication of Signet Magazine$35,905
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
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Annuity Payable$2,983
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
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
Yes
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, Part VI, Section B, Line 11

The organization provides a copy of form 990 to the trustees via e-mail and requests comments and proposed changes by a specified date.

Form 990, Part VI, Section B, Line 15

All officers are paid through the grand chapter of phi sigma kappa. The foundation reimburses the fraternity for salary expense related to the foundation. The fraternity defines the executive director's positon using industry experts and then matches the description to salary ranges from guidestar, afp, and ahp. The fraternity also has a formal process in place to review the compensation of the director of development.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents available to the public subject to written request.

Filing and Contact Details

Filer

Filer Name
Phi Sigma Kappa Foundation Inc
EIN
23-6261152
Phone
3175735420
Address
2925 EAST 96TH STREET, INDIANAPOLIS, IN 46240-1368

Signing Officer

Name
Michael Carey
Title
Chief Operating Officer
Phone
3175735420
Signed
2017-02-13
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Michael Carey
Formed
1946
Legal Domicile
In
Voting Board Members
5
Independent Board Members
5
Employees
0
Volunteers
0

Preparer

Firm
Kemper CPA Group Llp
Address
722 GRAND AVENUE, CONNERSVILLE, IN 47331
Preparer
William L Mckinney
Phone
7658254181
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

ROUNDING 7.

Financial Statement Notes

PART X, LINE 2:

The foundation is organized as a not-for-profit corporation under section 501(c)(3) of the united states internal revenue code. However, the foundation is subject to federal and state income tax on any unrelated business taxable income. Accounting principles generally accepted in the united states of america require management to evaluate tax positions taken by the foundation and recognize a tax liability if the foundation has taken an uncertain position that more likely than not would not be sustained upon examination by various federal and state taxing authorities. Management has analyzed the tax positions taken by the foundation, and has concluded that as of june 30, 2014 there are no uncertain positions taken or expected to be taken that would require recognition of a liability or disclosure in the accompanying financial statements. The foundation has filed its federal and state income tax returns for the period through june 30, 2013 and is subject to routine audits by taxing jurisdictions. However, as of the date the financial statements were available to be issued, there were no audits for any tax periods in progress. These income tax returns are generally open to examination by the relevant taxing authorities for a period of three years from the later of the date the return was filed or its due date (including approved extensions).

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IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt8TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt91ST VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt10TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt11TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt12TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt13SECRETARY
IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt15TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt16TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt17TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt18TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt192ND VICE PRESIDENT
IRS990/Form990PartVIISectionAGrp/TitleTxt20TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt21TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt22TRUSTEE
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