Gamma Iota Sigma

Nonprofit profile at a glance

EIN
237087235
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Powell, OH, USA
Phone
4849914471
Rating
72
Verdict
SUPPORTED
Rating confidence
Standard

Official website

Reported finances

Revenue
$1,591,376
Expenses
$1,531,092
Assets
$1,141,555
Liabilities
$123,403

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

Leadership & pay

20 people listed

Executive titles in this filing

  • GRACE GRANT (EXECUTIVE DIRECTOR)
  • NICK ABRAHAM (PRESIDENT)
  • MICHAEL KLEIN (IMMEDIATE PAST PRESIDENT)
  • DAN SPRAGG (EXECUTIVE VICE PRESIDENT)
  • DEBBIE GOLDSTINE (VICE PRESIDENT (TERM START 9/2024))
  • TAY HOANG (VICE PRESIDENT)

Highest reported compensation

  • GRACE GRANT (EXECUTIVE DIRECTOR): $233,596 total reported compensation
  • ALYSSA BOUCHARD (SVP, DEVELOPMENT): $128,000 total reported compensation
  • NIKIA STOWE (SVP, UNIVERSITY PARTNERSHIPS): $126,646 total reported compensation

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

Overview

Mission

Gamma iota sigma serves a mission of promoting and sustaining student interest in careers in insurance, risk management, and actuarial science.

What it reported doing in 2024

Conferences: gamma iota sigma (gis) conducts core programming each year through its regional conference series, allies in insurance workshops, leadership symposium, and annual conference. In 2024, these programs engaged over 1,300 students representing more than 100 colleges and universities nationwide.(continued on schedule o)the regional conference series provides an unparalleled platform for both students and industry professionals to connect. Students from all 120 gamma iota sigma chapters, at-large members, and applicant school students interested in risk management, insurance, and actuarial science gain valuable insights into the industry and explore career opportunities through career fairs, networking, and educational sessions. During 2024, the series reached 275 students from 44 colleges and universities and included 43 participating companies.allies in insurance brings leading industry organizations together to engage with college students in an interactive setting focused on professional growth, community, and connection. The event provides space for open conversations around career development, personal well-being, and collaboration, while fostering meaningful relationships across the industry. In 2024, the program featured 34 participating companies and reached 450 students.leadership symposium is the kickoff to the academic year convening an elite group of chapter officers for focused leadership training, peer networking, and exclusive engagement with sustaining partners. A variety of workshops and interactive sessions allow students to gain valuable insights, knowledge, and tools to succeed in their roles as leaders within gis. The 2024 symposium brought in 34 sustaining partners and 104 chapter officers from 67 colleges and universities.the annual conference is the hallmark talent event and centralized connection point for top collegiate talent and insurance, risk management, and actuarial science organizations. During 2024, 520 students from 69 colleges and universities and 90 participating companies convened for a one-of-its-kind career fair, dynamic keynote speakers, allies programming, educational sessions, professional development workshops, industry roundtables, networking opportunities, and more.

Operating model

Revenue model
Other-operating. 97% of the money available for current operations came from other operating 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

SUPPORTED - The filed numbers largely add up and most voting board members are independent. Fundraising costs are high for each dollar raised and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 59
  • Transparency & Controls: 80
  • Accountability: 86
  • Sustainability: 38
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 64.7%; rating input score 65
  • Program expense ratio: 67%; rating input score 67
  • Fundraising efficiency: $0.18 raised per $1 spent on fundraising; rating input score 2; 2nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 93.3%; rating input score 93; 22nd percentile among comparable filings
  • Pay-setting controls: 3 of 6 controls in place; rating input score 50
    • Compensation committee: Pass
    • Independent consultant: Pass
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 92.9%; rating input score 93; 24th percentile among comparable filings
  • Governance controls: 6 of 8 controls in place; rating input score 75
    • Conflict-of-interest policy: Fail
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Fail
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 3.8%; rating input score 47; 47th percentile among comparable filings
  • Total-asset coverage ratio: 0.75; rating input score 34; 34th percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 41; 41st percentile among comparable filings
  • Officer compensation ratio: 31.9%; rating input score 6; 6th percentile among comparable filings

Growth

  • Program expense growth: 8.8% per year; rating input score 100; 59th percentile among comparable filings
  • Revenue growth: 11.5% per year; rating input score 100; 71st percentile among comparable filings
  • Asset growth: 21.6% per year; rating input score 100; 84th percentile among comparable filings

Details

  • Where the money goes: 64.7% of revenue deployed · 67% of spending went to programs
  • Governance: 13 of 14 board members independent · 6 of 8 filing controls reported
  • Programs: 2 filed program accomplishments · $1M in reported program spending
  • Leadership: top reported pay $234K · 20 people listed · 3 of 6 pay-setting controls reported
  • Highest-paid contractors: 1 contractor listed · $136K reported
  • Consistency: 30 of 31 current checks pass · 1 finding to review
  • Schedules: 6 filed schedules · includes major donors and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 1 filed related-organization link
  • 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 — Financial Efficiency: Fundraising efficiency scored 2/100.
  • Review — Accountability: Governance controls: 2 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 47/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 34/100.
  • High — Sustainability: Officer compensation ratio scored 6/100.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 41/100.