Sigma Phi Epsilon Fraternity Alumni Inc

Nonprofit profile at a glance

EIN
411348966
IRS 990 coverage
2011–2024
Forms available
Form 990 2024
Location
Minneapolis, MN, USA
Phone
6126245015
Rating
82
Verdict
STRONG
Rating confidence
Moderate

Reported finances

Revenue
$311,222
Expenses
$305,701
Assets
$1,247,457
Liabilities
$907,596

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

Leadership & pay

4 people listed

Executive titles in this filing

  • JEFF SOMROCK (PRESIDENT/SECRETARY)

People named in this filing

  • JEFF SOMROCK (PRESIDENT/SECRETARY)
  • JASON SOMROCK (VP FACILITIES)
  • CHRIS VOKRACKA (VP ALUMNI RELATIONS)

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

Sigma phi epsilon is a local collegiate social fraternity at the university of Minnesota focused on the development of leadership skills of its membership. The organization conducts, but is not limited to, leadership training, social events and academic skill building.

What it reported doing in 2024

Provides facility management of fraternity house and guidance and coaching to undergraduate chapter members. Housing is provided for up to 38 of the undergraduate members. Members may choose the option of lodging and food.

Operating model

Revenue model
Earned-program. 99% 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

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 program spending has declined or grown slowly.

Rating breakdown

  • Financial Efficiency: 88
  • Transparency & Controls: 90
  • Accountability: 70
  • Sustainability: 52
  • Growth: 60

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 97.5%; rating input score 98
  • Program expense ratio: 100%; rating input score 100
  • Fundraising efficiency: Limited

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: 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 1.8%; rating input score 44; 44th percentile among comparable filings
  • Total-asset coverage ratio: 4.08; rating input score 75; 75th percentile among comparable filings
  • Liabilities to assets ratio: 0.73; rating input score 8; 8th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: -59.6% per year; rating input score 0; 1st percentile among comparable filings
  • Revenue growth: 1.5% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 43rd percentile among comparable filings

Details

  • Where the money goes: 97.5% of revenue deployed · 100% of spending went to programs
  • Governance: 4 of 4 board members independent · 2 of 7 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $0 · 4 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
  • 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 7 not reported.
  • High — Growth: Program expense growth scored 0/100.
  • Moderate — Sustainability: Operating margin scored 44/100.
  • High — Sustainability: Liabilities to assets ratio scored 8/100.