Zeta Beta Tau Foundation Inc

Nonprofit profile at a glance

EIN
800244485
IRS 990 coverage
2012–2024
Forms available
Form 990 2024, Form 990-N 2019
Location
Carmel, IN, USA
Phone
3173341898
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Sector
Scholarships, Student Financial Aid Services, Awards

Official website

Reported finances

Revenue
$1,219,234
Expenses
$2,138,040
Assets
$12,438,619
Liabilities
$219,686

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

Leadership & pay

17 people listed

Executive titles in this filing

  • JOHN D STEMEN ESQ (CHIEF EXECUTIVE OFFICER)
  • STEVEN E GOLD (IMMEDIATE PAST PRESIDENT)
  • BRET W HRBEK (PRESIDENT)
  • DEVON M SCHAD (VICE PRESIDENT)

Highest reported compensation

  • JOHN D STEMEN ESQ (CHIEF EXECUTIVE OFFICER): $162,589 total reported compensation
  • SAMUEL LOCKE (CHIEF DEVELOPMENT OFFICER): $148,934 total reported compensation
  • BETH ASHER (CHIEF OPERATING OFFICER): $138,707 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

See schedule o.the zeta beta tau foundation is a nonprofit corporation exclusively committed to educational and charitable purposes that assist the collegiate and alumni brothers of zeta beta tau fraternity. The foundation assists the collegiate and alumni brothers of zeta beta tau fraternity by funding scholarships and academic and leadership programs to maximize their personal development and prepare them to be leaders of society. The scholarships and academic and leadership programs funded by the foundation enhance the overall value of brotherhood in zeta beta tau fraternity by complementing the collegiate educational experience.

What it reported doing in 2024

Leadership grants and programs - to provide funding for leadership programs which bring together undergraduates from across the united states in order to attend panels, seminars, break-outs and other events on topics such as general leadership, group dynamics, crisis and risk management, mental health, event planning, budgeting and finances, communication skills and alcohol and drug abuse.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Hybrid. The nonprofit split its reported program spending across 41% for direct work, and 59% for grants.

The verdict

STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. A relatively small share of total spending goes to programs and fundraising costs are high for each dollar raised.

Rating breakdown

  • Financial Efficiency: 76
  • Transparency & Controls: 87
  • Accountability: 95
  • Sustainability: 35
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 100%; rating input score 100
  • Program expense ratio: 58.9%; rating input score 59
  • Fundraising efficiency: $1.04 raised per $1 spent on fundraising; rating input score 3; 3rd percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 4 of 6 controls in place; rating input score 67
    • Compensation committee: Pass
    • Independent consultant: Missing
    • Other Form 990s reviewed: Pass
    • Written employment contract: Pass
    • Compensation survey or study: Pass
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 76th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 8 of 9 controls in place; rating input score 89
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Pass
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: -75.4%; rating input score 2; 2nd percentile among comparable filings
  • Total-asset coverage ratio: 5.82; rating input score 87; 87th percentile among comparable filings
  • Liabilities to assets ratio: 0.02; rating input score 64; 64th percentile among comparable filings
  • Officer compensation ratio: 26.2%; rating input score 9; 9th percentile among comparable filings

Growth

  • Program expense growth: 17.7% per year; rating input score 100; 79th percentile among comparable filings
  • Revenue growth: 3% per year; rating input score 100; 31st percentile among comparable filings
  • Asset growth: 12% per year; rating input score 100; 65th percentile among comparable filings

Details

  • Where the money goes: 100% of revenue deployed · 58.9% of spending went to programs
  • Governance: 11 of 11 board members independent · 8 of 9 filing controls reported
  • Programs: 3 filed program accomplishments · $1.3M in reported program spending
  • Leadership: top reported pay $163K · 17 people listed · 4 of 6 pay-setting controls reported
  • Consistency: 35 of 35 current checks pass
  • Schedules: 6 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 12 filing years from 2012 to 2024
  • Contacts: How to reach this organization
  • Money network: 6 filed money-flow records
  • Related organizations: 2 filed related-organization links
  • 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.
  • Staff and benefit plans: Retirement and health plans the organization files with the Department of Labor, and the people in them.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

  • Review — Financial Efficiency: Program expense ratio scored 59/100.
  • High — Financial Efficiency: Fundraising efficiency scored 3/100.
  • High — Sustainability: Operating margin scored 2/100.
  • Review — Accountability: Governance controls: Other executive compensation review process not reported.
  • High — Sustainability: Officer compensation ratio scored 9/100.