Gamma Phi Beta Sorority Inc
- Assets
- $13.4m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Tuscaloosa, AL
- Founding
- 11/1940
- Data as of
- 07/2024
- EIN
- 63-1004292
Organization Overview
Gamma Phi Beta Sorority Inc is located in Tuscaloosa, AL. 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. Gamma Phi Beta Sorority Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 07/2024, Gamma Phi Beta Sorority Inc generated $3.1m in total revenue. This represents relatively stable growth, over the past 9 years the organization has increased revenue by an average of 0.9% each year. All expenses for the organization totaled $3.0m during the year ending 07/2024. While expenses have increased by 1.0% per year over the past 9 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.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE, MAINTAIN, AND MANAGE SORORITY CHAPTER HOUSING FOR THE EPSILON LAMBDA CHAPTER OF GAMMA PHI BETA SORORITY AT THE UNIVERSITY OF ALABAMA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED MEALS AND HOUSING FOR MEMBERS OF UNDERGRADUATE CHAPTER OF A NATIONAL COLLEGIATE SOCIAL SORORITY WHILE ALSO PROVIDING A MEANS FOR UNDERGRADUATE AND ALUMNI MEMBERS TO INTERACT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Audrey Herndon President | OfficerTrustee | 2 | $0 |
Hannah Weiss Vice President | OfficerTrustee | 2 | $0 |
Caitlin Heinkel Secretary | OfficerTrustee | 2 | $0 |
Ellie Taylor Treasurer | OfficerTrustee | 2 | $0 |
Abi Yarbrough Board Member | Trustee | 2 | $0 |
Lauren Hook Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Upper Crust Food Service Food Service | 7/30/24 | $695,799 |
Harrison Construction Company Inc Repairs And Maintenance | 7/30/24 | $396,398 |
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 | $3,053,731 |
| Investment income | $49,084 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$44,260 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,058,555 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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. | $59,805 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $12,786 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $371 |
| Payroll taxes | $1,660 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $19,740 |
| Fees for services: Accounting | $77,921 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $5,276 |
| Fees for services: Other | $1,151,962 |
| Advertising and promotion | $9,907 |
| Office expenses | $8,691 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $606,108 |
| Travel | $4,356 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $6,933 |
| Interest | $511,013 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $500,003 |
| Insurance | $0 |
| All other expenses | $3,133 |
| Total functional expenses | $3,045,310 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,317,689 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $610,032 |
| 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 | $9,153,204 |
| Investments—publicly traded securities | $2,337,494 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,446 |
| Total assets | $13,419,865 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $10,114 |
| 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 | $9,153,835 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $26,000 |
| Total liabilities | $9,189,949 |
| 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 | $4,229,916 |
| Total liabilities and net assets/fund balances | $13,419,865 |