Psi Iota Xi Charities Inc
- Assets
- $1.2m
- Revenue
- $114.3k
- Investments
- $0.0
- Employees
- 3
- Location
- Muncie, IN
- Founding
- 05/1989
- Data as of
- 05/2021
- EIN
- 35-1077796
Organization Overview
Psi Iota Xi Charities Inc is located in Muncie, IN. The organization was established in 1989. 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 05/2021, Psi Iota Xi Charities Inc employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Psi Iota Xi Charities Inc 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 05/2021, Psi Iota Xi Charities Inc generated $114.3k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 5.7% each year. All expenses for the organization totaled $61.8k during the year ending 05/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Psi Iota Xi Charities Inc has awarded 23 individual grants totaling $289,278. 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
DISTRIBUTE MONIES TO LOCAL CHARITABLE ORGANIZATIONS FOR PHILANTHROPIC PURPOSES
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION OPERATES THE BARGAIN BOX, A THRIFT STORE BENEFITTING THE COMMUNITY, WHICH CONVERTS TO CASH, MERCHANDISE DONATED BY THE PUBLIC. FROM THE PROCEEDS OF THE THRIFT STORE AND THE EARNINGS OF THE UNRESTRICTED QUASI-ENDOWMENT FUND, THE ORGANIZATION PROVIDES GRANTS DIRECTLY TO LOCAL CHARITIES. DURING FISCAL 2020-2021, THE ORGANIZATION ELECTED TO ALSO APPROPRIATE FUNDS FROM ITS ENDOWMENT FOR RENOVATIONS TO IT'S HISTORIC FACILITY. THE ORGANIZATION MAY ALSO DONATE EXCESS MERCHANDISE TO OTHER NOT-FOR-PROFIT ORGANIZATIONS OR CLIENTS OF THE ORGANIZATIONS.
THE ORGANIZATION OPERATES THE BARGAIN BOX, A THRIFT STORE BENEFITTING THE COMMUNITY, WHICH CONVERTS TO CASH, MERCHANDISE DONATED BY THE PUBLIC. FROM THE PROCEEDS OF THE THRIFT STORE AND THE EARNINGS OF THE UNRESTRICTED QUASI-ENDOWMENT FUND, THE ORGANIZATION PROVIDES GRANTS DIRECTLY TO LOCAL CHARITIES. DURING FISCAL 2020-2021, THE ORGANIZATION ELECTED TO ALSO APPROPRIATE FUNDS FROM ITS ENDOWMENT FOR RENOVATIONS TO IT'S HISTORIC FACILITY. THE ORGANIZATION MAY ALSO DONATE EXCESS MERCHANDISE TO OTHER NOT-FOR-PROFIT ORGANIZATIONS OR CLIENTS OF THE ORGANIZATIONS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Margaret Sikora Treasurer | OfficerTrustee | 5 | $2,079 |
Jama Gaddis Treasurer | Trustee | 5 | $1,429 |
Kathie Nix President | OfficerTrustee | 5 | $0 |
Julie Terhune Vice-President | OfficerTrustee | 2 | $0 |
Sue Taylor Secretary | OfficerTrustee | 2 | $0 |
Carolyn Kornilow House Chair | Trustee | 2 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $70,236 |
| Investment income | $13,150 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $30,298 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $114,346 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $3,378 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $357 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $286 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $3,150 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,403 |
| Fees for services: Other | $0 |
| Advertising and promotion | $71 |
| Office expenses | $462 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $9,637 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,451 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $61,753 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $46,405 |
| Savings and temporary cash investments | $12,369 |
| 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 | $32,255 |
| Prepaid expenses and deferred charges | $0 |
| Investments—publicly traded securities | $990,073 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,240,658 |
| Accounts payable and accrued expenses | $360 |
| 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 | $0 |
| Total liabilities | $360 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $1,240,298 |
Grants Awarded
Over the last fiscal year, Psi Iota Xi Charities Inc has awarded $40,678 in support to 6 organizations.
| Grant Recipient | Amount |
|---|---|
Muncie, IN PURPOSE: CARPETING AND FLOORING IN SHELTER | $7,800 |
Muncie, IN PURPOSE: CARPETING AND FLOORING IN SHELTER | $7,800 |
Muncie, IN PURPOSE: FLOORING FOR CENTER | $6,600 |
Muncie, IN PURPOSE: FLOORING FOR CENTER | $6,600 |
Muncie, IN PURPOSE: WHEELCHAIR LIFT FOR FACILITY | $5,939 |
Muncie, IN PURPOSE: WHEELCHAIR LIFT FOR FACILITY | $5,939 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Psi Iota Xi Charities Inc has recieved totaling $10,000.
| Awarding Organization | Amount |
|---|---|
Community Foundation Of Muncie And Delaware County Inc Muncie, IN PURPOSE: BARGAIN BOX | $10,000 |
Endowment Analysis
| Beg. Balance | $801,472 |
| Earnings | $245,788 |
| Admin Expense | $10,248 |
| Other Expense | $46,939 |
| Ending Balance | $990,073 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Alpha Xi Delta Fraternity Indianapolis, IN | $11,173,738 | $8,227,558 |
Alpha Phi International Fraternity Inc Chicago, IL | $56,554,412 | $12,398,073 |
Esponda Associates Inc Indianapolis, IN | $35,625,730 | $7,839,159 |
Pi Beta Phi Fraternity Town Country, MO | $45,635,121 | $9,219,516 |
Alpha Gamma Delta Fraternity Indianapolis, IN | $13,038,202 | $5,499,858 |
Alpha Chi Omega Foundation Inc Indianapolis, IN | $28,935,274 | $7,451,164 |
Alpha Phi Foundation Inc Park Ridge, IL | $26,651,155 | $5,758,361 |
Sigma Tau Gamma Fraternity Indianapolis, IN | $5,058,507 | $3,953,336 |
Educational Foundation Of Alpha Gamma Rho Kansas City, MO | $16,072,489 | $5,767,840 |
Delta Tau Delta Educational Foundation Inc Fishers, IN | $27,163,598 | $7,019,094 |
Alpha Phi International Fraternity Inc Chicago, IL | $421,200 | $3,656,233 |
Pi Beta Phi Fraterntiy Town Country, MO | $1,016,424 | $3,235,102 |