Phi Sigma Kappa

Nonprofit profile at a glance

EIN
300290695
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Troy, NY, USA
Phone
8605959125
Rating
78
Verdict
SUPPORTED
Rating confidence
Moderate

Official website

Reported finances

Revenue
$122,304
Expenses
$147,253
Assets
$1,088,116
Liabilities
$2,644

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

Leadership & pay

7 people listed

Executive titles in this filing

  • PAUL MARANO (PRESIDENT)
  • JOE DEFRANCISCI (VICE PRESIDENT)

People named in this filing

  • DICK HILDENBRAND (TREASURER)
  • JULIAN CASANOVA (SECRETARY)
  • IRA WHITMAN (MEMBER AT LARGE)

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

To promote and further the general welfare of the alumni and members of the gamma tetarton chapter of phi sigma kappa fraternity; to purchase, lease, maintain, and hold real property and to erect, construct, or repair buildings hereon for the benefit and use of this corporation and the chapter; to promote the friendship of its members, and to inculcate in them a high sense of loyalty to each other, and to stimulate their intellectual advancement.

What it reported doing in 2024

The principal program service is maintenance of a fraternity house for use by the chapter, the colony of phi sigma kappa at rpi, EIN 14-6030163. Expenses include depreciation on the buildings, fixtures, and equipment; property taxes, utilities, property insurance, building maintenance, alarm monitoring, and inspections. The organization charges the chapter rent. A portion of the rent is allocated to the self insurance quasi-endowment fund. Another portion is allocated to the house maintenance fund. The rest covers these normal year-to-year expenses. In this fiscal year, the organization provided a grant to the chapter in the form of rent reduction.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Direct operator. The filing allocates 97% 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 expenses are high relative to revenue.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 83
  • Accountability: 70
  • Sustainability: 46
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 97.8%; rating input score 98
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 91.7%; rating input score 92; 19th 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: -20.4%; rating input score 14; 14th percentile among comparable filings
  • Total-asset coverage ratio: 7.39; rating input score 85; 85th percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 53; 53rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 46.2% per year; rating input score 100; 95th percentile among comparable filings
  • Revenue growth: -6.2% per year; rating input score 0; 9th percentile among comparable filings
  • Asset growth: -1.8% per year; rating input score 0; 18th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 97.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 2 of 7 filing controls reported
  • Programs: 3 filed program accomplishments · $144K in reported program spending
  • Leadership: top reported pay $0 · 7 people listed
  • Consistency: 19 of 19 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 14 filing years from 2011 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 14/100.
  • High — Growth: Revenue growth scored 0/100.
  • High — Growth: Asset growth scored 0/100.
  • Review — Sustainability: Liabilities to assets ratio scored 53/100.