Phi Beta Kappa Society
- Assets
- $4.0m
- Revenue
- $450.5k
- Investments
- $0.0
- Employees
- 0
- Location
- Houston, TX
- Founding
- 06/1951
- Data as of
- 06/2022
- EIN
- 23-7339609
Organization Overview
Phi Beta Kappa Society is located in Houston, TX. The organization was established in 1951. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Phi Beta Kappa Society is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Phi Beta Kappa Society generated $450.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $379.4k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
ENCOURAGEMENT OF SCHOLASTIC EXCELLENCE IN HOUSTON AREA HIGH SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO ACHIEIVE THE OBJECTIVE OF THE ORGANIZATION, COLLEGE SCHOLARSHIPS FOR HIGH SCHOOL SENIORS IN THE HOUSTON AREA ARE AWARDED. SCHOLARSHIP PAYMENTS ARE MADE DIRECTLY TO THE COLLEGE WHICH EACH AWARDEE IS ATTENDING TO BE APPLIED TO TUITION. IN RARE CASES IN WHICH A STUDENT WOULD NOT BENEFIT FROM PAYMENTS MADE TO A COLLEGE OR UNIVERSITY, A SCHOLARSHIP PAYMENT MAY BE MADE DIRECTLY TO THE SCHOLARSHIP RECIPIENT WITH EVIDENCE THAT THE STUDENT HAS INCURRED EXPENSES FOR EDUCATIONAL PURPOSES (TUITION, FEES, RENT, FOOD, LODGING, TRAVEL, COMPUTING EQUIPMENT, BOOKS, PARKING PERMITS, STUDY ABROAD, INTERNET SERVICE, COMMUTING EXPENSES, ETC.) EQUAL TO THE VALUE OF THE SCHOLARSHIP. SEE RECIPIENTS LIST (EXHIBIT A AVAILABLE UPON REQUEST).
EXPENSES RELATED TO THE ADMINISTRATION OF AWARDING SCHOLARSHIPS, INCLUDING THE COST OF THE AWARDS BANQUET.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
William Monroe PHD President | OfficerTrustee | 0 | $0 |
Fritz Lanham Vice President- Scholarshi | OfficerTrustee | 0 | $0 |
William S Nichols IV Vice President- Finance | OfficerTrustee | 0 | $0 |
Andrew Davis PHD Vice President- Fundraisin | OfficerTrustee | 0 | $0 |
Alan J Alexander JD Treasurer | OfficerTrustee | 0 | $0 |
Christina Hughes Vice President- Membership Engagement | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $13,217 |
| Fundraising events | $0 |
| Related organizations | $350 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $155,418 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $168,985 |
| Total Program Service Revenue | $0 |
| Investment income | $73,338 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $208,140 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $450,463 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $276,000 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $22,396 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,950 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,748 |
| Fees for services: Other | $0 |
| Advertising and promotion | $1,823 |
| Office expenses | $2,692 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $17,232 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $236 |
| Total functional expenses | $379,383 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,106 |
| Savings and temporary cash investments | $435,975 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,518,937 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,961,018 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $288,000 |
| Total liabilities | $288,000 |
| Net assets without donor restrictions | $2,049,594 |
| Net assets with donor restrictions | $1,623,424 |
| 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 | $3,961,018 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Phi Beta Kappa Society has recieved totaling $135.
| Awarding Organization | Amount |
|---|---|
Mechia Foundation Beaumont, TX PURPOSE: CONTINUING OPERATIONS | $135 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Association Of Former Students Of Texas A & M University College Station, TX | $202,537,498 | $46,927,604 |
Angelo State University Foundation Inc San Angelo, TX | $35,914,777 | $13,132,707 |
Ex Students Association Of The Austin, TX | $164,001,121 | $27,599,217 |
Leadership Education Foundation College Station, TX | $3,972,064 | $10,009,970 |
Communities In Schools Of Greater Tarrant County Inc Fort Worth, TX | $6,563,272 | $10,310,134 |
Lsu Alumni Association Baton Rouge, LA | $42,813,688 | $3,814,637 |
Oklahoma State University Alumni Association Stillwater, OK | $25,317,339 | $3,350,380 |
Texas Tech Alumni Association Lubbock, TX | $17,376,523 | $4,664,357 |
Delta Delta Delta Foundation Dallas, TX | $24,531,824 | $3,988,064 |
Arkansas Alumni Association Inc Fayetteville, AR | $14,561,052 | $2,077,157 |
Iitmaana Spring, TX | $661,366 | $1,712,067 |
University Of Tx At San Antonio San Antonio, TX | $4,217,745 | $1,664,150 |