Theta-xi of Kappa Sigma Inc

Nonprofit profile at a glance

EIN
351181763
IRS 990 coverage
2012–2018
Forms available
Form 990 2018, Form 990-N 2018
Location
Greenwood, IN, USA
Phone
3178882823
Rating
61
Verdict
SUPPORTED
Rating confidence
Moderate

Reported finances

Revenue
$101,457
Expenses
$54,469
Assets
$1,311,477
Liabilities
$271,687

Source: IRS Form 990. Selected filing: tax year 2018. Amounts in USD.

Leadership & pay

2 people listed

Executive titles in this filing

  • Michael Brown (President)

People named in this filing

  • Marek Kolar (Treasurer)
  • Michael Brown (President)

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 2018. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide a facility and guidance to undergraduate students so they may develop both scholastically and socially.

Operating model

Revenue model
Earned-program. 90% 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

SUPPORTED - The filed numbers largely add up and a large share of total spending goes to programs. A relatively small share of available resources goes toward mission work and a relatively small share of voting board members are independent.

Rating breakdown

  • Financial Efficiency: 62
  • Transparency & Controls: 90
  • Accountability: 0
  • Sustainability: 83
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 52.6%; rating input score 53
  • Program expense ratio: 98%; rating input score 98
  • 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: 0%; rating input score 0; 6th percentile among comparable filings
  • Governance controls: 0 of 7 controls in place; rating input score 0
    • 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: Fail
    • Audit committee oversight: Missing
    • Independent financial-statement audit: Fail

Sustainability

  • Operating margin: 46.3%; rating input score 93; 93rd percentile among comparable filings
  • Total-asset coverage ratio: 24.08; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.21; rating input score 23; 23rd percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 71; 71st percentile among comparable filings

Growth

  • Program expense growth: 9.4% per year; rating input score 100; 73rd percentile among comparable filings
  • Revenue growth: 6.1% per year; rating input score 100; 64th percentile among comparable filings
  • Asset growth: 0% per year; rating input score 100; 34th percentile among comparable filings

Details

  • Where the money goes: 52.6% of revenue deployed · 98% of spending went to programs
  • Governance: 0 of 2 board members independent · 0 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $53K in reported program spending
  • Leadership: top reported pay $0 · 2 people listed
  • Consistency: 17 of 17 current checks pass
  • Schedules: 2 filed schedules
  • Filing history: 6 filing years from 2012 to 2018
  • 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.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • Review — Financial Efficiency: Mission deployment rate scored 53/100.
  • High — Accountability: Independent voting board scored 0/100.
  • High — Accountability: Governance controls: 6 of 6 not reported.
  • High — Sustainability: Liabilities to assets ratio scored 23/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.