Phi Kappa Sigma Fraternity
- Assets
- $151.4k
- Revenue
- $148.7k
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- 12/1940
- Data as of
- 06/2023
- EIN
- 36-2518603
Organization Overview
Phi Kappa Sigma Fraternity is located in Chicago, IL. The organization was established in 1940. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, under the broad grouping of Education and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Phi Kappa Sigma Fraternity is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2023, Phi Kappa Sigma Fraternity generated $148.7k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (8.9%) each year. All expenses for the organization totaled $173.5k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (7.9%) per year over the past 6 years. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR PRIMARY EXEMPT PURPOSE IS THE PROMOTION OF GOOD FELLOWSHIP AND THE CULTIVATION OF THE SOCIAL VIRTUES AMONG OUR MEMBERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ALPHA EPSILON CHAPTER OF PHI KAPPA SIGMA ACCOMPLISHES ITS EXEMPT PURPOSE THROUGH SEVERAL KEY ACTIVITIES. OCCUPANCY FEES COLLECTED PROVIDE A SPACE FOR STUDENT ACCOMMODATION, FRATERNAL GATHERINGS, ACADEMIC STUDY SESSIONS, AND DAY-TO-DAY OPERATIONS. THIS NOT ONLY FOSTERS A SENSE OF COMMUNITY BUT ALSO SUPPORTS ACADEMIC SUCCESS. MEMBERSHIP DUES ARE INSTRUMENTAL IN MAINTAINING OUR AFFILIATION WITH NATIONAL ORGANIZATIONS AND ENABLING PARTICIPATION IN ESSENTIAL LEADERSHIP CONFERENCES, WHICH ARE CRUCIAL FOR THE FUNCTIONING OF OUR CHAPTER. ADDITIONALLY, THE ALLOCATION OF FUNDS FOR LEADERSHIP CONFERENCE EXPENSES PROVIDES OUR CURRENT MEMBERS WITH THE OPPORTUNITY TO TRAVEL AND PARTICIPATE IN VARIOUS LEADERSHIP TRAINING PROGRAMS, FURTHERING THEIR PERSONAL DEVELOPMENT AND ENHANCING THE OVERALL EFFECTIVENESS OF OUR CHAPTER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Name Not Listed Vice President (term Exp 4/25/23) | OfficerTrustee | 1 | $0 |
Name Not Listed President (term Exp 4/25/23) | OfficerTrustee | 1 | $0 |
Name Not Listed Secretary (term Exp 11/29/22) | OfficerTrustee | 1 | $0 |
Name Not Listed President | OfficerTrustee | 1 | $0 |
Name Not Listed Treasurer (term Exp 4/25/23) | OfficerTrustee | 1 | $0 |
Name Not Listed Treasurer | OfficerTrustee | 1 | $0 |
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 | $148,724 |
| Investment income | $6 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $148,730 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $151 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $2,000 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $21,403 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $150 |
| Office expenses | $6,136 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $40,979 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $450 |
| Total functional expenses | $173,494 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $63,047 |
| Savings and temporary cash investments | $22,211 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $66,129 |
| Total assets | $151,387 |
| Accounts payable and accrued expenses | $7,817 |
| 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 | $2,100 |
| Total liabilities | $9,917 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $141,470 |
| Total liabilities and net assets/fund balances | $151,387 |