National Fraternity of Phi Gamma Nu

Nonprofit profile at a glance

EIN
362372971
IRS 990 coverage
2024–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2023
Location
Chicago, IL, USA
Phone
6304121746
Rating
67
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$219,125
Expenses
$228,836
Assets
$204,844
Liabilities
$1,190

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

Leadership & pay

8 people listed

Executive titles in this filing

  • Stephanie Acker (Executive Director)
  • Emma Burd (Executive Director)

Highest reported compensation

  • Stephanie Acker (Executive Director): $27,667 total reported compensation

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

Overview

Mission

Phi Gamma Nus mission is to foster a diverse community that invests in the professional and personal development of its members who are driven individuals committed to one anothers success.

What it reported doing in 2024

PGN is a professional development organization serving undergraduate students from diverse academic majors and backgrounds. The organization provides a national forum through which leaders develop themselves and one another through structured leadership training professional development chapter engagement and national governance programming. During the fiscal year PGN conducted its annual National Convention at which over 50 elected representatives from university chapters National Council members and alumni volunteers convened in person. The event focused on professional development seminars leadership skill training team building and the conduct of National Council elections. National leadership worked directly with student representatives to reinforce the organizations mission standards and long-term goals. The National Convention together with recurring networking and professional development programming constitutes the organizations primary exempt activities. Expenses associated with these programs consist primarily of travel lodging meals and conference-related costs incurred to facilitate member participation and leadership engagement.

Operating model

Revenue model
Other-operating. 100% of the money available for current operations came from other operating revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

SUPPORTED - 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: 65
  • Transparency & Controls: 71
  • Accountability: 76
  • Sustainability: 34
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 74.3%; rating input score 74
  • Program expense ratio: 71.1%; rating input score 71
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
  • Pay-setting controls: 2 of 6 controls in place; rating input score 33
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Pass
    • Compensation survey or study: Missing
    • Board or committee approval: Pass
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Limited
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 85.7%; rating input score 86; 23rd percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Fail
    • CEO compensation review process: Pass
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: -4.4%; rating input score 30; 30th percentile among comparable filings
  • Total-asset coverage ratio: 0.9; rating input score 38; 38th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 49; 49th percentile among comparable filings
  • Officer compensation ratio: 12.1%; rating input score 27; 27th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 10.9% per year; rating input score 100; 74th percentile among comparable filings
  • Asset growth: 8.7% per year; rating input score 100; 62nd percentile among comparable filings

Details

  • Where the money goes: 74.3% of revenue deployed · 71.1% of spending went to programs
  • Governance: 6 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 3 filed program accomplishments · $94K in reported program spending
  • Leadership: top reported pay $28K · 8 people listed · 2 of 6 pay-setting controls reported
  • Consistency: 38 of 40 current checks pass · 2 findings to review
  • Schedules: 3 filed schedules · includes executive pay
  • Contacts: How to reach this organization
  • Money network: 2 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.

  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • Moderate — Sustainability: Operating margin scored 30/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 38/100.
  • Moderate — Transparency & Controls: Functional expense sum did not reconcile in the filed values.
  • Moderate — Transparency & Controls: Part IX ConferencesMeetings column sum did not reconcile in the filed values.
  • High — Sustainability: Officer compensation ratio scored 27/100.
  • Moderate — Sustainability: Liabilities to assets ratio scored 49/100.