Phi Beta Kappa Society
- Assets
- $4.8m
- Revenue
- $5.8m
- Investments
- $0.0
- Employees
- 25
- Location
- Washington, DC
- Founding
- 06/1951
- Data as of
- 07/2021
- EIN
- 53-0226282
Organization Overview
Phi Beta Kappa Society is located in Washington, DC. The organization was established in 1951. 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 07/2021, Phi Beta Kappa Society employed 25 individuals. This organization is a parent organization of 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 07/2021, Phi Beta Kappa Society generated $5.8m in total revenue. The organization has seen a slow decline revenue. Over the past 6 years, revenues have fallen by an average of (2.6%) each year. All expenses for the organization totaled $5.6m during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (3.8%) per year over the past 6 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RECOGNIZE AND ENCOURAGE SCHOLARSHIP, FRIENDSHIP, AND CULTURAL INTERESTS.
Describe the Organization's Program Activity:
THE AMERICAN SCHOLAR: THE AMERICAN SCHOLAR IS PHI BETA KAPPA'S QUARTERLY PUBLICATION, WITH A CIRCULATION TO THE GENERAL PUBLIC. THE CURRENT CIRCULATION IS 20,951 (19,952 ACTIVE SUBSCRIPTIONS, 505 NEWSSTAND SALES AND 854 FREE/NOMINAL RATE DISTRIBUTION). THE PUBLICATION PRESENTS ARTICLES ON SUBJECTS OF BROAD INTEREST, CURRENT AFFAIRS, PHILOSOPHY, SCIENCE AND ARTS.
NATIONAL ARTS AND SCIENCES INITIATIVE: PHI BETA KAPPA'S NATIONAL ARTS AND SCIENCES INITIATIVE ENGAGES MEMBERS ACROSS THE COUNTRY TO COMMUNICATE THE VALUE OF LIBERAL ARTS AND SCIENCES, ADVOCATES FOR POLICIES THAT STRENGTHEN HIGHER EDUCATION, AND AWARDS THE KEY INTO PUBLIC SERVICE SCHOLARSHIP, ALONG WITH TRAINING AND MENTORING, TO PROMISING LIBERAL ARTS AND SCIENCES MAJORS PURSUING GOVERNMENT SERVICE.
THE KEY REPORTER: THE KEY REPORTER IS A NEWSLETTER THAT IS MAILED TO MEMBERS ON A QUARTERLY BASIS AND KEEPS THEM INFORMED ABOUT CURRENT PHI BETA KAPPA ACTIVITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Frederick Lawrence Secretary/ceo | Officer | 31 | $379,298 |
Evagren Caldera Associate Secretary/chief Operating Officer | Officer | 28 | $176,195 |
Robert Wilson Editor-The Amer. Scholar | 35 | $161,705 | |
Anne Wise Nasi Director | 35 | $123,775 | |
Sudip Bose Managing Ed-The Amer. Scholar | 35 | $107,963 | |
Elizabeth Kelly Visiting Scholar Director | 35 | $101,260 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Daniller Company Development/fundraising | 7/30/21 | $564,742 |
Cordia Partners Accounting Services | 7/30/21 | $246,297 |
Qg Printing Iii Co Printing Services | 7/30/21 | $178,010 |
Easypermit Postage Postage Services | 7/30/21 | $176,742 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $457,600 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,759,635 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,217,235 |
| Total Program Service Revenue | $1,473,501 |
| Investment income | $620 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $109,364 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $10,098 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,810,818 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $336,885 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $690,163 |
| Compensation of current officers, directors, key employees. | $199,250 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $1,396,407 |
| Pension plan accruals and contributions | $138,307 |
| Other employee benefits | $390,080 |
| Payroll taxes | $149,245 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $5,400 |
| Fees for services: Accounting | $240,824 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $235,381 |
| Fees for services: Investment Management | $75 |
| Fees for services: Other | $3,914 |
| Advertising and promotion | $0 |
| Office expenses | $1,311,965 |
| Information technology | $308,609 |
| Royalties | $0 |
| Occupancy | $120,403 |
| Travel | $11,559 |
| 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 | $8,462 |
| Insurance | $49,442 |
| All other expenses | $0 |
| Total functional expenses | $5,646,043 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $91 |
| Savings and temporary cash investments | $3,949,368 |
| Pledges and grants receivable | $5,332 |
| Accounts receivable, net | $363,792 |
| 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 | $111,117 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $364,414 |
| Total assets | $4,794,114 |
| Accounts payable and accrued expenses | $595,010 |
| Grants payable | $0 |
| Deferred revenue | $1,140,375 |
| 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 | $1,735,385 |
| Net assets without donor restrictions | $3,058,729 |
| 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 | $4,794,114 |
Grants Awarded
Over the last fiscal year, Phi Beta Kappa Society has awarded $545,907 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Washington, DC PURPOSE: DEBT OWED BY FOUNDATION CONVERTED TO OPERATIONAL GRANT. | $535,907 |
Syracuse, NY PURPOSE: GENERAL SUPPORT | $10,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Phi Beta Kappa Society has recieved totaling $36,538.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $28,767 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $7,771 |
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 |