Phi Beta Epsilon Corporation

Nonprofit profile at a glance

EIN
046014162
IRS 990 coverage
2020–2024
Forms available
Form 990 2024
Location
Cambridge, MA, USA
Phone
3399701018
Rating
62
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$1,038,842
Expenses
$706,310
Assets
$10,615,547
Liabilities
$1,435,623

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

Leadership & pay

3 people listed

Executive titles in this filing

  • ROY RUSSELL (PAST PRESIDENT)

People named in this filing

  • ROY RUSSELL (PAST PRESIDENT)
  • PATRICK KORB (TREASURER)
  • SASHA GALITSKY (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

Alumni organization for mit fraternity - aimed at supporting undergraduate students, building and fostering relationships amongst all brothers and maintaining building in cambridge.

What it reported doing in 2024

To provide the necessary equipment and quarters needed to maintain a chapter of phi beta epsilon in Massachusetts. Provide newsletter which contains information on corporate activities, updates from undergraduates at mit and stories/pictures from alumni.

Operating model

Revenue model
Earned-program. 92% 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

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 some filed totals do not add up.

Rating breakdown

  • Financial Efficiency: 69
  • Transparency & Controls: 84
  • Accountability: 0
  • Sustainability: 82
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 63.8%; rating input score 64
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 90%; rating input score 90; 5th percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: Limited
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Board meeting minutes documented: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 32%; rating input score 85; 85th percentile among comparable filings
  • Total-asset coverage ratio: 15.03; rating input score 95; 95th percentile among comparable filings
  • Liabilities to assets ratio: 0.14; rating input score 38; 38th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 81; 81st percentile among comparable filings

Growth

  • Program expense growth: 18% per year; rating input score 100; 80th percentile among comparable filings
  • Revenue growth: 20.2% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 1.2% per year; rating input score 100; 22nd percentile among comparable filings

Details

  • Where the money goes: 63.8% of revenue deployed · 100% of spending went to programs
  • Governance: 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $706K in reported program spending
  • Leadership: top reported pay $0 · 3 people listed
  • Consistency: 16 of 17 current checks pass · 1 finding to review
  • Schedules: 3 filed schedules · includes major donors
  • Filing history: 5 filing years from 2020 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

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

  • High — Accountability: Governance controls: 6 of 6 not reported.
  • Moderate — Transparency & Controls: Schedule D land buildings reconciliation did not reconcile in the filed values.
  • Moderate — Sustainability: Liabilities to assets ratio scored 38/100.