Psi Alpha Scholarship Foundation
Nonprofit profile at a glance
- EIN
- 742560683
- IRS 990 coverage
- 2022–2024
- Forms available
- Form 990 2024, Form 990-EZ 2021, Form 990-N 2020
- Location
- San Antonio, TX, USA
- Phone
- 2103637084
- Rating
- 81
- Verdict
- STRONG
- Rating confidence
- Moderate
Reported finances
- Revenue
- $338,236
- Expenses
- $375,900
- Assets
- $343,399
- Liabilities
- $0
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
9 people listed
Executive titles in this filing
- FREDERICK B BEEBE (PRESIDENT)
People named in this filing
- EDDIE CHEW (BOARD MEMBER)
- SCOTT EARLE (BOARD MEMBER)
- JIMMY E MCMILLION (VICE PRESIDE)
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
The purposes for which this corporation is incorporated are those set forth in the articles of incorporation. Specifically, the corporation was formed for the express purpose of providing scholarships to high-school seniors, and when appropriate, to provide supplementary scholarships for these individuals throughout their college career. These scholarships will be awarded directly to individuals as a result of said individuals meeting a set of criteria pre-established by the corporation. As an alternative, the corporation may conduct an academic or an academic/talent competition or a series of competitions to determine the recipient of a scholarship. These competitions and their associated publicity will serve to instill in the participants and their peer groups the importance of and the benefits which can be derived from academic excellence. On occasion, scholarship funds will be donated to and administered by an organization which uses similar criteria to select the recipients of its
What it reported doing in 2024
1. Scholarship committee scholarships - 50,000.00 2. Scholarship stipend- 4,500.00 (foundation will allot for additional stipend e.g., 50-plus club, etc.) 3. Scholarship awards luncheon & photographer- 6,800.00 4. Achievement week high school essay contest - 1,500.00 5. San antonio area talent hunt prize money - 2,250.00 6. Youth leadership conference essay scholarships - 1,500.00 7. Stem program individual, group and competition stem kits - 1,150.00 (supported stem kits to named individuals in stem group) scholarship stipend note: 500.00 added by pasf to each 1,500.00 chapter scholarship to achieve 2,000.00 payment to each awardee. Total 2024 grants: 67,700.00
Operating model
- Revenue model
- Other-operating. 88% of the money available for current operations came from other operating revenue.
- Distribution model
- Hybrid. The nonprofit split its reported program spending across 71% for direct work, and 29% for grants.
The verdict
STRONG - 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 fundraising costs are high for each dollar raised.
Rating breakdown
- Financial Efficiency: 84
- Transparency & Controls: 93
- Accountability: 64
- Sustainability: 39
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 96.8%; rating input score 97
- Program expense ratio: 87%; rating input score 87
- Fundraising efficiency: $1.65 raised per $1 spent on fundraising; rating input score 8; 8th percentile among comparable filings
Transparency & Controls
- Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
- Pay-setting controls: Limited
- Foreign activity oversight: Limited
- Grant itemization coverage: 100%; rating input score 100; 80th percentile among comparable filings
- Major donor itemization: Limited
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
- Governance controls: 1 of 7 controls in place; rating input score 14
- 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: Pass
- Audit committee oversight: Missing
- Independent financial-statement audit: Fail
Sustainability
- Operating margin: -11.1%; rating input score 21; 21st percentile among comparable filings
- Total-asset coverage ratio: 0.91; rating input score 38; 38th percentile among comparable filings
- Liabilities to assets ratio: 0; rating input score 80; 80th percentile among comparable filings
- Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings
Growth
- Program expense growth: 42.7% per year; rating input score 100; 94th percentile among comparable filings
- Revenue growth: 29.5% per year; rating input score 100; 93rd percentile among comparable filings
- Asset growth: 18.8% per year; rating input score 100; 83rd percentile among comparable filings
Details
- Where the money goes: 96.8% of revenue deployed · 87% of spending went to programs
- Governance: 9 of 9 board members independent · 1 of 7 filing controls reported
- Programs: 2 filed program accomplishments · $327K in reported program spending
- Leadership: top reported pay $0 · 9 people listed
- Consistency: 22 of 22 current checks pass
- Schedules: 4 filed schedules · includes grants
- Filing history: 3 filing years from 2022 to 2024
- Contacts: How to reach this organization
- Money network: Resolved incoming and outgoing counterparties from filed money flows.
- 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: 5 of 6 not reported.
- High — Financial Efficiency: Fundraising efficiency scored 8/100.
- High — Sustainability: Operating margin scored 21/100.
- Moderate — Sustainability: Total-asset coverage ratio scored 38/100.