Phi Beta Sigma Fraternity Inc
- Assets
- $8.0m
- Revenue
- $5.7m
- Investments
- $0.0
- Employees
- 12
- Location
- Washington, DC
- Founding
- 01/1974
- Data as of
- 12/2021
- EIN
- 11-1709989
Organization Overview
Phi Beta Sigma Fraternity Inc is located in Washington, DC. The organization was established in 1974. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, under the broad grouping of Education and related organizations. As of 12/2021, Phi Beta Sigma Fraternity Inc employed 12 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phi Beta Sigma Fraternity Inc is a 501(c)(10) and as such, is described as a "Domestic Fraternal Society and/or Association" by the IRS.
For the year ending 12/2021, Phi Beta Sigma Fraternity Inc generated $5.7m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 10.2% each year . All expenses for the organization totaled $4.6m during the year ending 12/2021. While expenses have increased by 5.5% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Phi Beta Sigma Fraternity Inc has awarded 22 individual grants totaling $728,944. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EXEMPLIFY THE IDEALS OF BROTHERHOOD, SCHOLARSHIP AND SERVICE TO THE GENERAL COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SIGMA WEEK ON CAPITOL HILL:APPROXIMATELY 20-25 MEMBERS OF THE FRATERNITY MEET WITH MEMBERS OF CONGRESS (20-25 CONGRESSIONAL LEADERS). - 2021 EVENT DID NOT TAKE PLACE DUE TO COVID
CONGRESSIONAL BLACK CAUCUS:FORUM DISCUSSION "REAL TALK" ON VARIOUS SUBJECT MATTERS PERTAINING TO THE STATE OF THE AFRICAN AMERICAN MALE. - THIS EVENT WAS HELD VIRTUALLY IN 2021 DUE TO COVID-19.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Daryl A Anderson Sr International Executive Director | Officer | 40 | $125,000 |
Max Mcdaniel 2nd Vice President | OfficerTrustee | 5 | $0 |
Marcus Chanay Director Of Education | OfficerTrustee | 5 | $0 |
Chris V Rey JD International President | OfficerTrustee | 15 | $0 |
Michael E Cristal Immediate Past President | OfficerTrustee | 5 | $0 |
Dane Norvell 2nd Vice President (until Aug 2021) | OfficerTrustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Award Concepts Membership Materials | 12/30/21 | $375,044 |
Linderal Designs Sigma Products | 12/30/21 | $230,540 |
Sheraton Myrtle Beach Host Hotel For Conclave | 12/30/21 | $361,399 |
Sundance Print Cresent Magazine | 12/30/21 | $176,641 |
Lmg Llc Audio Visual - Conclave | 12/30/21 | $262,103 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,087,940 |
| Investment income | $17,668 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $168,875 |
| Net Rental Income | $83,532 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $232,815 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,690,900 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $270,000 |
| Grants and other assistance to domestic individuals. | $100,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $148,492 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $638,683 |
| Pension plan accruals and contributions | $5,257 |
| Other employee benefits | $145,020 |
| Payroll taxes | $70,291 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $10,788 |
| Fees for services: Accounting | $42,027 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $9,541 |
| Advertising and promotion | $0 |
| Office expenses | $328,894 |
| Information technology | $190,603 |
| Royalties | $0 |
| Occupancy | $40,294 |
| Travel | $150,560 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $15,838 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $28,075 |
| Insurance | $422,636 |
| All other expenses | $144,221 |
| Total functional expenses | $4,632,106 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,756,039 |
| Savings and temporary cash investments | $3,434,533 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $79,934 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $115,934 |
| Prepaid expenses and deferred charges | $48,485 |
| Net Land, buildings, and equipment | $524,548 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,959,473 |
| Accounts payable and accrued expenses | $619,316 |
| Grants payable | $0 |
| Deferred revenue | $2,808,027 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $234,585 |
| Total liabilities | $3,661,928 |
| Net assets without donor restrictions | $4,297,545 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,959,473 |
Grants Awarded
Over the last fiscal year, Phi Beta Sigma Fraternity Inc has awarded $270,000 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: TO EXTEND PARTNERSHIP WITH ORGANIZATION, TO EXTEND THE MISSION OF PHI BETA SIGMA. | $100,000 |
PHI BETA SIGMA FEDERAL CREDIT UNION PURPOSE: TO EXTEND PARTNERSHIP WITH ORGANIZATION, TO EXTEND THE MISSION OF PHI BETA SIGMA. | $50,000 |
Washington, DC PURPOSE: TO EXTEND PARTNERSHIP WITH ORGANIZATION, TO EXTEND THE MISSION OF PHI BETA SIGMA. | $25,000 |
New York, NY PURPOSE: TO EXTEND PARTNERSHIP WITH ORGANIZATION, TO EXTEND THE MISSION OF PHI BETA SIGMA. | $25,000 |
Baltimore, MD PURPOSE: TO EXTEND PARTNERSHIP WITH ORGANIZATION, TO EXTEND THE MISSION OF PHI BETA SIGMA. | $25,000 |
Washington, DC PURPOSE: TO EXTEND PARTNERSHIP WITH ORGANIZATION, TO EXTEND THE MISSION OF PHI BETA SIGMA. | $25,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Phi Beta Sigma Fraternity Inc has recieved totaling $25,000.
| Awarding Organization | Amount |
|---|---|
Aarp Washington, DC PURPOSE: Sponsorship of national conclave | $25,000 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Weachieve Inc Silver Spring, MD | $15,012,410 | $16,647,397 |
Sigma Phi Epsilon Fraternity Inc Richmond, VA | $54,140,029 | $10,282,777 |
Phi Beta Kappa Society Washington, DC | $4,794,114 | $5,810,818 |
Zeta Phi Beta Sorority Inc Washington, DC | $20,915,125 | $7,582,963 |
Phi Sigma Sigma National Housing Corporation Eldersburg, MD | $5,105,404 | $4,513,250 |
Phi Beta Sigma Fraternity Inc Washington, DC | $7,959,473 | $5,690,900 |
Sigma Nu Educational Foundation Inc Lexington, VA | $16,834,611 | $2,302,992 |
Alpha Omega Clinic And Consultation Fairfax, VA | $317,274 | $1,917,356 |
Kappa Alpha Order Educational Foundation Lexington, VA | $13,471,837 | $4,116,886 |
Omicron Delta Kappa Society And Educational Foundation Inc Lexington, VA | $3,864,125 | $1,527,453 |
Chi Eta Phi Sorority Incorporated Washington, DC | $2,830,290 | $837,860 |
Phi Alpha Delta Law Fraternity Towson, MD | $1,200,640 | $1,131,381 |