Kappa Sigma Endowment Fund

Nonprofit profile at a glance

EIN
366018518
IRS 990 coverage
2012–2024
Forms available
Form 990 2024
Location
Charlottesville, VA, USA
Phone
4349795733
Rating
70
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$6,873,498
Expenses
$1,524,172
Assets
$22,840,198
Liabilities
$15,186

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

Leadership & pay

8 people listed

People named in this filing

  • THOMAS P BISHOP (CHAIRMAN)
  • S CHRISTIAN NASCIMENTO (VICE CHAIRMA)
  • DONAL L MCCLAMROCH JR (TREASURER)

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

Kappa sigma endowment fund (the endowment fund) is a nonprofit organization formed to produce means available for beneficent and charitable purposes of kappa sigma fraternity (the fraternity). The endowment fund provides scholarships and other qualified educational programs for the fraternity.

What it reported doing in 2024

Student scholarships and grants: since 1948, the scholarship-leadership awards program has been the endowment fund's hallmark program. The total awarded through the program to outstanding kappa sigma student leaders is more than 8.0 million. The endowment fund is one of the preeminent greek foundations in its financial support to undergraduate members. During fy25, the endowment fund provided 72 merit-based scholarships, along with 25 scholarships that were provided as part of the dr. John w. Ryan leadership circle. In addition, the endowment fund administers and provides scholarship awards out of chapter designated investment accounts. During fy25, this chapter scholarship fund awarded 596 merit-based scholarships to outstanding student-leaders. During fy25, the endowment fund provided 7 grants through the military heroes campaign to organizations dedicated to assisting military veterans.

Operating model

Revenue model
Donor-supported. 88% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 71% of its reported program spending out as grants.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and a relatively small share of total spending goes to programs.

Rating breakdown

  • Financial Efficiency: 33
  • Transparency & Controls: 94
  • Accountability: 94
  • Sustainability: 95
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 24.6%; rating input score 25
  • Program expense ratio: 43.7%; rating input score 44
  • Fundraising efficiency: $11.52 raised per $1 spent on fundraising; rating input score 42; 42nd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 6 of 7 controls in place; rating input score 86
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Pass
    • 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: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 77.8%; rating input score 97; 97th percentile among comparable filings
  • Total-asset coverage ratio: 14.99; rating input score 94; 94th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 93; 93rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 11.2% per year; rating input score 100; 68th percentile among comparable filings
  • Revenue growth: 12.8% per year; rating input score 100; 77th percentile among comparable filings
  • Asset growth: 8.4% per year; rating input score 100; 52nd percentile among comparable filings

Details

  • Where the money goes: 24.6% of revenue deployed · 43.7% of spending went to programs
  • Governance: 7 of 7 board members independent · 6 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $667K in reported program spending
  • Leadership: top reported pay $0 · 8 people listed
  • Consistency: 28 of 28 current checks pass
  • Schedules: 6 filed schedules · includes major donors and grants
  • Filing history: 13 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: Resolved incoming and outgoing counterparties from filed money flows.
  • Related organizations: Filed and resolved organization relationships.
  • 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: Mission deployment rate scored 25/100.
  • Moderate — Financial Efficiency: Program expense ratio scored 44/100.
  • Moderate — Financial Efficiency: Fundraising efficiency scored 42/100.
  • Review — Accountability: Governance controls: Whistleblower policy not reported.