Alumni Association of Alpha Gamma of Chi Psi

Nonprofit profile at a glance

EIN
474902884
IRS 990 coverage
2022–2024
Forms available
Form 990 2024
Location
Birmingham, AL, USA
Phone
6014973147
Rating
83
Verdict
STRONG
Rating confidence
Moderate
Sector
Student Sororities, Fraternities

Reported finances

Revenue
$173,725
Expenses
$217,788
Assets
$2,305,579
Liabilities
$1,442,666

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

4 people listed

Executive titles in this filing

  • SILAS BEEBE (PRESIDENT)
  • DREW JACKSON (VICE-PRESIDENT)

People named in this filing

  • SILAS BEEBE (PRESIDENT)
  • DREW JACKSON (VICE-PRESIDENT)
  • STEVE BARBER (SECRETARY)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

Corporation exempt from federal income taxation under code section 501(c)(7) (the fraternity). The association will collect fees from the active members of the chapter, or other lessees of the association's real estate and property, which in turn will be used toward the payment of house operating expenses including: insurance, real estate taxes, certain upkeep and maintenance costs, repairs and capital improvements. These activities take approximately 85 percent of the association's time. These activities will be conducted by volunteers of the association.

What it reported doing in 2024

The association leased and managed real estate and personal property and furnishings for the use of the alpha gamma chapter (the chapter) of chi psi fraternity at the university of Mississippi, a non-profit corporation exempt from federal income taxation under code section 501(c)(7) (the fraternity). The association will collect fees from the active members of the chapter, or other lessees of the association's real estate and property, which in turn will be used toward the payment of house operating expenses including: insurance, real estate taxes, certain upkeep and maintenance costs, repairs and capital improvements. These activities take approximately 85 percent of the association's time. These activities will be conducted by volunteers of the association.

Operating model

Revenue model
Earned-program. 72% of the money available for current operations came from fees and other program revenue.
Distribution model
Direct operator. The filing allocates 100% of reported program-service expenses outside its grant, affiliate-payment, and member-benefit lines. This expense classification does not rule out separately announced grant awards.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Some filing-based governance responses are negative or unanswered and expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 89
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 41
  • Growth: 80

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 2 of 7 controls in place; rating input score 29
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -25.4%; rating input score 11; 11th percentile among comparable filings
  • Total-asset coverage ratio: 10.59; rating input score 90; 90th percentile among comparable filings
  • Liabilities to assets ratio: 0.63; rating input score 9; 9th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 10.2% per year; rating input score 100; 70th percentile among comparable filings
  • Revenue growth: 3.8% per year; rating input score 100; 46th percentile among comparable filings
  • Asset growth: -2.7% per year; rating input score 0; 15th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $218K in reported program spending
  • Leadership: top reported pay $0 · 4 people listed
  • Consistency: 16 of 16 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 3 filing years from 2022 to 2024
  • Contacts: How to reach this organization
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • High — Accountability: Governance controls: 4 of 6 not reported.
  • High — Sustainability: Operating margin scored 11/100.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Liabilities to assets ratio scored 9/100.