Sigma Psi Zeta Sorority Inc

Nonprofit profile at a glance

EIN
223665378
IRS 990 coverage
2023–2024
Forms available
Form 990 2024, Form 990-EZ 2023, Form 990-N 2008
Location
Albany, NY, USA
Phone
7033951898
Rating
74
Verdict
SUPPORTED
Rating confidence
Moderate
Sector
Student Sororities, Fraternities

Reported finances

Revenue
$203,195
Expenses
$149,161
Assets
$484,595
Liabilities
$85

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

Leadership & pay

15 people listed

Executive titles in this filing

  • MEGAN FLAHERTY-LAING (PRESIDENT)

People named in this filing

  • MEGAN FLAHERTY-LAING (PRESIDENT)
  • LILIMAY BANGOY (VP OF FINANCE)
  • KIM MAI (VP OF MEMBERSHIP)

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

Our nbsp; mission nbsp; is nbsp; to nbsp; build nbsp; a nbsp; supportive nbsp; community nbsp; that nbsp; empowers nbsp; womxn nbsp; and nbsp; are nbsp; dedicated nbsp; to nbsp; advancing nbsp; education nbsp; promoting nbsp; cultural nbsp; awareness nbsp; and nbsp; supporting nbsp; our nbsp; national nbsp; philanthropy nbsp; combating nbsp; domestic nbsp; violence nbsp; against nbsp; womxn

What it reported doing in 2024

National convention brings together members from chapters across the country to engage in leadership development organizational planning and cultural education. Convention provides workshops training sessions and networking opportunities to support the personal and professional growth of our members and promote the sorority s mission of sisterhood scholarship and service.

Operating model

Revenue model
Earned-program. 100% of the money available for current operations came from fees and other program revenue.
Distribution model
Hybrid. The nonprofit split its reported program spending across 52% for direct work, and 48% for member benefits.

The verdict

SUPPORTED - The filed numbers largely add up and most voting board members are independent. A relatively small share of available resources goes toward mission work and some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 58
  • Transparency & Controls: 90
  • Accountability: 76
  • Sustainability: 74
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 59.2%; rating input score 59
  • Program expense ratio: 75.5%; rating input score 75
  • 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: 3 of 7 controls in place; rating input score 43
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • 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: Fail
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 26.6%; rating input score 80; 80th percentile among comparable filings
  • Total-asset coverage ratio: 3.25; rating input score 71; 71st percentile among comparable filings
  • Liabilities to assets ratio: 0; rating input score 59; 59th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

  • Program expense growth: 69.5% per year; rating input score 100; 97th percentile among comparable filings
  • Revenue growth: 17.9% per year; rating input score 100; 86th percentile among comparable filings
  • Asset growth: 16.6% per year; rating input score 100; 80th percentile among comparable filings

Details

  • Where the money goes: 59.2% of revenue deployed · 75.5% of spending went to programs
  • Governance: 15 of 15 board members independent · 3 of 7 filing controls reported
  • Programs: 3 filed program accomplishments
  • Leadership: top reported pay $0 · 15 people listed
  • Consistency: 18 of 19 current checks pass · 1 finding to review
  • Schedules: 1 filed schedules
  • Filing history: 2 filing years from 2023 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.

  • Review — Financial Efficiency: Mission deployment rate scored 59/100.
  • Moderate — Accountability: Governance controls: 4 of 7 not reported.
  • Moderate — Transparency & Controls: Fund balance restriction sum did not reconcile in the filed values.
  • Review — Sustainability: Liabilities to assets ratio scored 59/100.