Civic Intelligence

Phi Beta Kappa Foundation

990 • Fiscal year 2017 • EIN 52-6063291

Aug 01, 2016 to Jul 31, 2017 • Filed on Jun 06, 2018

1606 New Hampshire AvenueWashington, DC 20009

(202) 265-3808

Siviq Scores

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

Liabilities / Assets

17th percentile

0.02x

Higher debt load relative to assets than 17% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Liabilities / Revenue

64th percentile

0.52x

Higher debt load relative to revenue than 64% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Net Margin

10th percentile

-18%

Higher net margin than 10% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Top Officer Pay

55th percentile

$264,878

Higher top officer pay than 55% of similar nonprofits.

Top officer pay equals 15.1% of source-year revenue.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2017

Asset Growth

55th percentile

6.1%

Faster asset growth than 55% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Revenue Growth

91st percentile

75%

Faster revenue growth than 91% of similar nonprofits.

2017 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2016 to 2017

Assets

Up

$38,686,186

Up $2,237,674 (+6.1%) from 2016

Net Assets

Up

$37,768,531

Up $2,003,693 (+5.6%) from 2016

Liabilities

Up

$917,655

Up $233,981 (+34%) from 2016

Revenue

Up

$1,755,821

Up $749,840 (+75%) from 2016

Expenses

Up

$2,064,891

Up $84,954 (+4.3%) from 2016

Net Income

Up

-$309,070

Up $664,886 (+68%) from 2016

Historical Trend

Balance Sheet Trend

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

$60M$40M$20M$0Assets 2010: $31,760,987Liabilities 2010: $3,749,046Net Assets 2010: $28,011,9412010Assets 2011: $34,459,823Liabilities 2011: $1,979,766Net Assets 2011: $32,480,0572011Assets 2012: $33,398,183Liabilities 2012: $309,529Net Assets 2012: $33,088,6542012Assets 2013: $36,287,182Liabilities 2013: $318,460Net Assets 2013: $35,968,7222013Assets 2014: $38,814,614Liabilities 2014: $447,366Net Assets 2014: $38,367,2482014Assets 2015: $37,529,255Liabilities 2015: $538,906Net Assets 2015: $36,990,3492015Assets 2016: $36,448,512Liabilities 2016: $683,674Net Assets 2016: $35,764,8382016Assets 2017: $38,686,186Liabilities 2017: $917,655Net Assets 2017: $37,768,5312017Assets 2018: $39,158,363Liabilities 2018: $1,028,480Net Assets 2018: $38,129,8832018Assets 2019: $37,569,411Liabilities 2019: $800,655Net Assets 2019: $36,768,7562019Assets 2020: $37,754,258Liabilities 2020: $682,983Net Assets 2020: $37,071,2752020Assets 2021: $45,858,978Liabilities 2021: $367,464Net Assets 2021: $45,491,5142021Assets 2022: $41,882,645Liabilities 2022: $774,889Net Assets 2022: $41,107,7562022Assets 2023: $46,715,872Liabilities 2023: $1,295,559Net Assets 2023: $45,420,3132023Assets 2024: $49,322,785Liabilities 2024: $1,601,867Net Assets 2024: $47,720,9182024

Highlighted filing

2017

Assets$38,686,186
Liabilities$917,655
Net Assets$37,768,531

Operations Trend

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

$6.0M$4.0M$2.0M$0-$2.0MExpenses 2010: $1,200,3652010Expenses 2011: $1,216,5502011Expenses 2012: $1,337,7572012Expenses 2013: $1,563,7242013Revenue 2014: $1,836,882Expenses 2014: $1,676,719Net Income 2014: $160,1632014Revenue 2015: $1,560,385Expenses 2015: $1,898,017Net Income 2015: -$337,6322015Revenue 2016: $1,005,981Expenses 2016: $1,979,937Net Income 2016: -$973,9562016Revenue 2017: $1,755,821Expenses 2017: $2,064,891Net Income 2017: -$309,0702017Revenue 2018: $1,305,895Expenses 2018: $2,144,225Net Income 2018: -$838,3302018Revenue 2019: $676,889Expenses 2019: $1,933,299Net Income 2019: -$1,256,4102019Revenue 2020: $593,261Expenses 2020: $1,348,347Net Income 2020: -$755,0862020Revenue 2021: $4,273,141Expenses 2021: $620,898Net Income 2021: $3,652,2432021Revenue 2022: $1,384,235Expenses 2022: $645,476Net Income 2022: $738,7592022Revenue 2023: $3,151,297Expenses 2023: $634,898Net Income 2023: $2,516,3992023Revenue 2024: $4,367,925Expenses 2024: $2,503,877Net Income 2024: $1,864,0482024

Highlighted filing

2017

Revenue$1,755,821
Expenses$2,064,891
Net Income-$309,070
Jump To
Filing Snapshot
Filing Period
Aug 1, 2016 to Jul 31, 2017
Signed
Jun 6, 2018
Return Version
2016v3.0
Gross Receipts
$5,796,239
Mission and Program Overview

Mission

Organized for the creation of funds or endowments for the promotion of sound learning through the establishment of fellowships, awards & similar items.

Organized for the creation of funds or endowments for the promotion of sound learning through the establishment of fellowships, awards and similar items.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$18,899,702$20,362,275▲ $1,462,573
Investments Other Securities$13,243,071$12,532,125▼ $710,946
Land, Buildings, and Equipment, Net$4,137,923$3,986,227▼ $151,696
Cash and Non-Interest-Bearing Accounts$152,983$1,790,726▲ $1,637,743
Prepaid Expenses and Deferred Charges$14,833$14,833→ $0
Total Assets$36,448,512$38,686,186▲ $2,237,674
Liabilities
Other Liabilities$680,674$917,655▲ $236,981
Accounts Payable and Accrued Expenses$3,000$0▼ $3,000
Total Liabilities$683,674$917,655▲ $233,981
Net Assets / Fund Balance
Unrestricted Net Assets$25,473,217$26,806,129▲ $1,332,912
Permanently Rstr Net Assets$5,810,935$5,810,935→ $0
Temporarily Rstr Net Assets$4,480,686$5,151,467▲ $670,781
Total Net Assets Fund Balance$35,764,838$37,768,531▲ $2,003,693
Total Liabilities and Net Assets / Fund Balance$36,448,512$38,686,186▲ $2,237,674

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$1,471,681$1,435,830$2,907,511
Land$2,514,546-$2,514,546
Other Securities$1,170,874--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2016$10,291,621-▲ $1,021,944-$10,962,402
2015$10,420,921-▲ $34,428-$10,291,621
2014$10,611,611-▼ $33,354-$10,420,921
2013$9,780,075-▲ $962,649-$10,611,611
2012$8,810,737$40,000▲ $1,018,143-$9,780,075
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Margaret N FarrControllerPT$43,044$19,395$62,439
ronaleen r rohaAssociate SecretaryPT$41,699$9,445$51,144
Frederick M LawrenceSecretary/CEOPT$27,083$5,605$32,688
james a robertsit director-$17,829$5,488$23,317
John H ChurchillSECRETARY (EXEC DIR) (til 5/16)-$9,236$1,254$10,490

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$681,177
Program Service Revenue
$0
Investment Income
$1,048,522
Other Revenue
$26,122
All Other Contributions
$500
Change in Net Assets
$-309,070

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,755,821
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$2,312,763
Total Revenue per Audited Statements
$4,068,584
Total Revenue per Form 990
$1,755,821
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$1,207,200
Other Expenses$746,992
Total Fundraising Expense$144,165
Salaries, Compensation, and Employee Benefits$110,699
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$914,000--$914,000
Grants to Domestic Individuals$293,200--$293,200
Depreciation Depletion-$159,797-$159,797
Fees for Service Investment Mgmnt Fees$17,973$115,117-$133,090
Other Salaries and Wages$3,220$100,094-$103,314
Fees for Services Accounting-$22,524-$22,524
Conferences and Meetings$20,800$594$53$21,447
Travel$4,834$15,040$853$20,727
Other Expenses$12,350$17,259$72,718$17,259
Information Technology-$8,786-$8,786
Payroll Taxes$230$7,155-$7,385
Fees for Services Legal-$5,593-$5,593
All Other Expenses-$1,776-$1,776
Advertising$1,209--$1,209
Total Functional Expenses$1,283,136$637,590$144,165$2,064,891

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$2,064,891
Total Expenses per Audited Statements$2,064,891
Total Expenses per Form 990$2,064,891
Expenses Not Reported on Financial Statements$0
Expenses Not Reported on Form 990$0
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Phi Beta Kappa SocietyWashington, DC501(c)(3)To Support Program Services.-

International Summary

Offices
0
Employees
0
Spending
$1,404,318

International Compliance

Activity in boycott countries
No
Foreign corporation ownership
No
Foreign partnership interest
No
Interest in foreign trust
No
Passive foreign investment company interest
No
Transfers to foreign corporations
No

International Activities

RegionActivityServicesOfficesEmployeesSpending
Europe (Including Iceland & Greenland) - Albania, Andorra, Austria, Belgiuminvestments-00$1,404,318
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
Due to Pbk Society$917,655
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
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, line 1

The foundation has an executive committee, consisting of the foundation's chairman and vice-chairman, as well as at least three other foundation trustees (elected by the board of trustees). The executive committee exercises all of the powers of the board in the management and control of the business and affairs of the foundation, in between the meetings of the board, in all instances in which specific direction has not been given by the board of trustees.

Form 990, Part VI, Section A, line 6

Members of the Foundation are, per the bylaws, members of Phi Beta Kappa Society, the Foundation's supported organization. Members are chosen such that at least four-fifths are Senators of the Society. Members are elected by ballot at the annual member meeting.

Form 990, Part VI, Section A, line 7A

The Foundation's Trustees are elected by ballot by the Members, from amongst the Membership.

Form 990, Part VI, Section B, line 11B

The controller of the foundation's supported organization, the phi beta kappa society, the foundation's secretary and assistant secretary, and the executive committee of phi beta kappa foundation (which has authority to act on behalf of the board of trustees of the foundation) review the form 990 before approving its filing with the irs.

Form 990, Part VI, Section B, line 12C

Foundation trustees are provided with handbooks that include the conflict of interest policy upon employment or election to office. The foundation requires all trustees to sign a conflict of interest statement on an annual basis. The foundation does not have any trustees stating they have a conflict of interest at this time.

Form 990, Part VI, Section B, line 15A

The foundation does not have its own employees. The employees of the phi beta kappa society, the foundation's supported organization, serve the foundation as well. Accordingly, the following describes the process at the phi beta kappa society. In all cases. Salary reviews include study of comparability data and contemporaneous substantiation of the deliberation and decision. The phi beta kappa society's president and executive committee review the secretary's compensation. The secretary reviews the compensation of other officers and key employees.

Form 990, Part VI, Section C, line 19

The documents are available upon request.

Filing and Contact Details

Filer

Filer Name
Phi Beta Kappa Foundation
EIN
52-6063291
Phone
2022653808
Address
1606 New Hampshire Avenue, WASHINGTON, DC 20009

Signing Officer

Name
Frederick M Lawrence
Title
Secretary/CEO
Phone
2022653808
Signed
2018-06-06
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Frederick M Lawrence
Formed
1924
Legal Domicile
Ny
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
19

Preparer

Firm
Tate and Tryon
Address
2021 L Street NW Suite 400, Washington, DC 20036
Preparer
Elizabeth Heller
Phone
2022932200
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The audit oversight process has remained unchanged from the previous year.

Financial Statement Notes

Part V, Line 4:

The foundation's endowments are used for the following awards: mary isabel sibley award fund patrick romanell award fund jensen trust fund aurner memorial award fund frank m. Updike fund sydney hook memorial award fund richard couper lectureship fund gittler award fund william a. Granger memorial fund terrill bequest martin r. Lebowitz fund geri braman hill fund award for distinguished scholars

PART II, LINE 9:

The foundation does not include its conservation easement in its revenue and expense statements, nor its balance sheet, nor does it include any verbiage in its financial statements.

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IRS990/Form990PartVIISectionAGrp/PersonNm6Christine Cano
IRS990/Form990PartVIISectionAGrp/PersonNm7Susan Carlisle
IRS990/Form990PartVIISectionAGrp/PersonNm8Linda Greenhouse
IRS990/Form990PartVIISectionAGrp/PersonNm9Zev Handel
IRS990/Form990PartVIISectionAGrp/PersonNm10Jean E Howard
IRS990/Form990PartVIISectionAGrp/PersonNm11Robert C Koons
IRS990/Form990PartVIISectionAGrp/PersonNm12Michael Lubin
IRS990/Form990PartVIISectionAGrp/PersonNm13Peter Quimby
IRS990/Form990PartVIISectionAGrp/PersonNm14Katherine Soule
IRS990/Form990PartVIISectionAGrp/PersonNm15Kathleen Woodward
IRS990/Form990PartVIISectionAGrp/PersonNm16JOHN H CHURCHILL
IRS990/Form990PartVIISectionAGrp/PersonNm17ronaleen r roha
IRS990/Form990PartVIISectionAGrp/PersonNm18Frederick M Lawrence
IRS990/Form990PartVIISectionAGrp/PersonNm19james a roberts
IRS990/Form990PartVIISectionAGrp/PersonNm20MARGARET N FARR
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IRS990/Form990PartVIISectionAGrp/TitleTxt5TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt6TRUSTEE
IRS990/Form990PartVIISectionAGrp/TitleTxt7TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt14TRUSTEE
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IRS990/Form990PartVIISectionAGrp/TitleTxt18Secretary/CEO
IRS990/Form990PartVIISectionAGrp/TitleTxt19it director
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Document Assets

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Filings

Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$49.3$1.60$47.7$4.37$2.50$1.86
2023Detailed filing. Detailed filing data is available for this year.$46.7$1.30$45.4$3.15$0.63$2.52
2022Detailed filing. Detailed filing data is available for this year.$41.9$0.77$41.1$1.38$0.65$0.74
2021Detailed filing. Detailed filing data is available for this year.$45.9$0.37$45.5$4.27$0.62$3.65
2020Detailed filing. Detailed filing data is available for this year.$37.8$0.68$37.1$0.59$1.35$0.76
2019Detailed filing. Detailed filing data is available for this year.$37.6$0.80$36.8$0.68$1.93$1.26
2018Detailed filing. Detailed filing data is available for this year.$39.2$1.03$38.1$1.31$2.14$0.84
2017Detailed filing. Detailed filing data is available for this year.$38.7$0.92$37.8$1.76$2.06$0.31
2016Detailed filing. Detailed filing data is available for this year.$36.4$0.68$35.8$1.01$1.98$0.97
2015Detailed filing. Detailed filing data is available for this year.$37.5$0.54$37.0$1.56$1.90$0.34
2014Detailed filing. Detailed filing data is available for this year.$38.8$0.45$38.4$1.84$1.68$0.16
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$36.3$0.32$36.0$1.56
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$33.4$0.31$33.1$1.34
2011Facts available. Structured filing facts are available, but richer extracted sections are limited.$34.5$1.98$32.5$1.22
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$31.8$3.75$28.0$1.20
Peer Organizations

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