Civic Intelligence

Phi Sigma Kappa Foundation Incorporated

990 • Fiscal year 2023 • EIN 23-6261152

Jul 01, 2022 to Jun 30, 2023 • Filed on May 14, 2024

Organization ProfileWWW.PHISIGMAKAPPA.ORG
2925 E 96th StIndianapolis, IN 46240

(317) 573-5420

Siviq Scores

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

Liabilities / Assets

33rd percentile

0.01x

Higher debt load relative to assets than 33% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Liabilities / Revenue

41st percentile

0.05x

Higher debt load relative to revenue than 41% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Net Margin

84th percentile

34%

Higher net margin than 84% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Top Officer Pay

76th percentile

$124,267

Higher top officer pay than 76% of similar nonprofits.

Top officer pay equals 13.5% of source-year revenue.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2023

Asset Growth

65th percentile

11%

Faster asset growth than 65% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Revenue Growth

8th percentile

-43%

Faster revenue growth than 8% of similar nonprofits.

2023 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2022 to 2023

Balance Sheet
Liabilities / Assets33rd percentile

Assets

Up

$3,280,720

Up $328,351 (+11%) from 2022

Net Assets

Up

$3,238,537

Up $332,926 (+11%) from 2022

Liabilities

Down

$42,183

Down $4,575 (-9.8%) from 2022

Revenue And Expenses
Liabilities / Revenue41st percentileNet Margin84th percentile

Revenue

Down

$918,370

Down $699,094 (-43%) from 2022

Expenses

Down

$608,747

Down $40,112 (-6.2%) from 2022

Net Income

Down

$309,623

Down $658,982 (-68%) from 2022

Historical Trend

Balance Sheet Trend

Asset Growth65th percentile

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

2023

Assets$3,280,720
Liabilities$42,183
Net Assets$3,238,537
Open 2023 Filing

Operations Trend

Revenue Growth8th percentile

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

2023

Revenue$918,370
Expenses$608,747
Net Income$309,623
Open 2023 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2022 to Jun 30, 2023
Signed
May 14, 2024
Return Version
2022v5.0
Gross Receipts
$3,537,590
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 trustees.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,747,170$3,166,400▲ $419,230
Cash and Non-Interest-Bearing Accounts$170,765$111,080▼ $59,685
Pledges and Grants Receivable$34,434$3,240▼ $31,194
Savings and Temporary Cash Investments-$0-
Accounts Receivable-$0-
Other Notes and Loans Receivable, Net-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Land, Buildings, and Equipment, Net-$0-
Intangible Assets-$0-
Inventories for Sale or Use-$0-
Prepaid Expenses and Deferred Charges-$0-
Total Assets$2,952,369$3,280,720▲ $328,351
Other Assets Total-$0-
Liabilities
Other Liabilities-$39,273-
Deferred Revenue-$2,000-
Accounts Payable and Accrued Expenses$46,758$910▼ $45,848
Total Liabilities$46,758$42,183▼ $4,575
Net Assets / Fund Balance
Net Assets With Donor Restrictions$1,705,704$1,870,991▲ $165,287
Net Assets Without Donor Restrictions$1,199,907$1,367,546▲ $167,639
Total Net Assets Fund Balance$2,905,611$3,238,537▲ $332,926
Total Liabilities and Net Assets / Fund Balance$2,952,369$3,280,720▲ $328,351

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2022$1,705,704$292,729▲ $49,258-$1,870,991
2021$1,610,902$408,953▼ $67,272-$1,705,704
2020$1,415,003$267,536▲ $306,499-$1,610,902
2019$1,105,637$472,222▼ $100,450-$1,396,050
2018$901,977$397,002▲ $17,917-$1,105,637
Compensation and Service Providers
Top Officer Pay76th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Joseph KernExec Dir/COOPT$124,267$124,267

Board Members and Trustees

NameTitle
Thomas GrunwaldPresident
Braden Robert KeeterVice President
Clay SkurdalVice President
Adam GagasTrustee
Bennett WilliamsTrustee
Chad E BurneyTrustee
Darren Samuel AzarianTrustee
Glenn RobyTrustee
Greg StackTrustee
Harry Gray Hanna JrTrustee
Keith A ClarkTrustee
Ryan TabakaTrustee
Sean HamiltonTrustee
Tom WrightTrustee
Vern P HackworthTrustee
Walter Jake ClementsTrustee
Sean B EavesSecretary
Matt WaltzTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$813,484
Program Service Revenue
$0
Investment Income
$104,886
Other Revenue
$0
All Other Contributions
$813,484
Change in Net Assets
$309,623

Audited Revenue Reconciliation

Revenue per Audited Statements
$918,370
Revenue Not Reported on Form 990
$23,303
Total Revenue per Audited Statements
$941,673
Total Revenue per Form 990
$918,370
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$343,384
Other Expenses$265,363
Total Fundraising Expense$121,407
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$298,022--$298,022
Fees for Services Management$24,434$68,416$53,755$146,605
Grants to Domestic Individuals$45,362--$45,362
Fees for Services Other-$39,126-$39,126
Travel-$4,041$14,208$18,249
Other Expenses-$7,939$11,423$7,939
Total Functional Expenses$367,818$119,522$121,407$608,747

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$608,747
Total Expenses per Audited Statements$608,747
Total Expenses per Form 990$608,747
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Grand Chpt of Phi Sigma KappaIndianapolis, IN501c7Leadership and Education Grants$146,000
Grand Chpt of Phi Sigma KappaIndianapolis, IN501c7Shonk Archive/Archivist Salary Supp$53,466
Ferris State alumniHudsonville, MI501c7Educ portions of chpt house remodel$40,634
Grand Chpt of Phi Sigma KappaIndianapolis, IN501c7Publication of Signet Magazine$30,000
Capt Kimble White Alumni ClubAlbany, GA501c7Educ, utilities, annual meeting$11,794
Alpha Deuteron AlumniSt Louis, MO501c7Annual meeting, Schol.$6,333
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
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Grand Chapter Phi Sigma Kappa$39,273
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
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 11B

“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 15A

“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 position 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 E 96TH ST, INDIANAPOLIS, IN 46240

Signing Officer

Name
Joseph Kern
Title
Chief Oper Ofc
Signed
2024-05-14
Discuss with paid preparer
Yes

Organization Details

Formed
1946
Legal Domicile
In
Voting Board Members
19
Independent Board Members
19
Employees
0
Volunteers
40

Preparer

Firm
Givens & Barnes
Address
200 E Evergreen Ave Ste 117, Mount Prospect, IL 60056
Preparer
William J Barnes
Phone
2247642442
Supplemental Narrative

Additional Explanations

Form 990, Part XII, Line 2C

“The process remains unchanged from the prior year.”

Financial Statement Notes

Part X : FIN48 Footnote

“THE FOUNDATION IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(3)OF THE INTERNAL REVENUE CODE AND A SIMILAR PRVISION OF STATE LAW. IN ADDITION, THE FOUNDATION QUALIFIES AS A CHARITY UNDER SECTION 170(B)(1)(A) AND IS NOT A PRIVATE FOUNDATION, SO CONTRIBUTIONS TO THE FOUNDATION ARE DEDUCTIBLE AS CHARITABLE CONTRIBUTIONS.THE FOUNDATION FILES TAX RETURNS IN THE U.S. FEDERAL AND STATE OF INDIANA TAX JURISTICTIONS. WITH FEW EXCEPTIONS, THE FOUNDATION IS NO LONGER SUBJECT TO U.S. FEDERAL OR STATE EXAMINATIONS BY TAX AUTHORITIES FOR YEARS BEFORE 2020. THE foundation has evaluated tax positions TAKEN IN THE TAX RETURNS FILED AND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AS DEFINED BY GENERALLY ACCEPTED ACCOUNTING PRINCIPLES.”

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Document Assets

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Filings

Displayed year

2023 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,280,720
Liabilities
$42,183
Net assets
$3,238,537
Revenue
$918,370
Expenses
$608,747
Net income
$309,623
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$3.99$0.09$3.90$1.19$0.83$0.36
2023Detailed filing. Detailed filing data is available for this year.$3.28$0.04$3.24$0.92$0.61$0.31
2022Detailed filing. Detailed filing data is available for this year.$2.95$0.05$2.91$1.62$0.65$0.97
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.19$0.00$2.19$0.75$0.71$0.04
2017Detailed filing. Detailed filing data is available for this year.$1.94$0.05$1.89$0.94$0.45$0.48
2016Detailed filing. Detailed filing data is available for this year.$1.70$0.01$1.69$0.85$0.40$0.45
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.11$0.01$1.10$0.49
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.20$0.00$1.20$0.51
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.38$0.01$1.37$0.45