Sigma Pi Fraternity International Inc

What it reported doing in 2024

The fraternity provides maintenance and support of charter programs establishing scholarships, leadership, fellowship, and civic involvement of members. The fraternity operates numerous programs including the following: insurance - the fraternity provides risk and claims management services to the individual chapters which include obtaining and administering liability insurance coverage. It also administers claims related legal services and claims payments for the deductible portion of all liability claims of the fraternity chapters.chapter services - the fraternity provides organizational support and leadership training to individual chapters and colonies located throughout the united states and canada. Chapters and colonies are separate legal entities, and are primarily organized as unincorporated associations. Accordingly, the accounts of the individual chapters are not reported in the accompanying financial statements.housing - the fraternity sometimes provides small loans to chapters and colonies to be used in obtaining housing. It also provides an advisory committee that reviews contracts and provides advice to the chapters and colonies seeking housing.communication - the fraternity sponsors a quarterly publication and website with news of events and activities of interest to members and alumni.expansion - the fraternity conducts recruitment activities and supports the formation of new chapters and colonies in promotion of its membership.convocation - the fraternity conducts a biennial convocation held on even numbered years to assemble representatives from across the membership and chapters and to conduct business affairs of the fraternity.midyear conference and tony siress leadership summit - midyear is a voluntary, annual program held in january and provides training to fraternity officers and recruitment chairmen. The tony siress leadership summit is a complimentary annual leadership program designed for the presidents across the fraternity.

Financial Efficiency

• Mission deployment rate: Limited
• Program expense ratio: Limited
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 63rd 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: 5 of 7 controls in place; rating input score 71
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Fail
  • Document-retention policy: Pass
  • 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: Pass
  • Independent financial-statement audit: Pass

Sustainability

• Operating margin: -3.4%; rating input score 23; 23rd percentile among comparable filings
• Total-asset coverage ratio: 0.74; rating input score 27; 27th percentile among comparable filings
• Liabilities to assets ratio: 0.04; rating input score 73; 73rd percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

• Program expense growth: Limited
• Revenue growth: 3.6% per year; rating input score 100; 31st percentile among comparable filings
• Asset growth: 0.5% per year; rating input score 100; 14th percentile among comparable filings