Kappa Sigma Fraternity
- Assets
- $7.5m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 28
- Location
- Charlottesville, VA
- Founding
- 12/1978
- Data as of
- 05/2023
- EIN
- 13-1714532
Organization Overview
Kappa Sigma Fraternity is located in Charlottesville, VA. The organization was established in 1978. According to its NTEE Classification (N60) the organization is classified as: Amateur Sports, under the broad grouping of Recreation & Sports and related organizations. As of 05/2023, Kappa Sigma Fraternity employed 28 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Kappa Sigma Fraternity is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 05/2023, Kappa Sigma Fraternity generated $6.0m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 2.1% each year. All expenses for the organization totaled $6.6m during the year ending 05/2023. While expenses have increased by 3.0% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE A FORUM FOR EXCHANGE OF IDEAS RELATING TO EDUCATIONAL PROGRAMS AND LEADERSHIP TRAINING TO ITS UNDERGRADUATE AND ALUMNI CHAPTERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
LIABILITY COVERAGE MANAGEMENT PROGRAM - REPRESENTS EXPENSES IN CONJUNCTION WITH LIABILITY INSURANCE COVERAGE AND RELATED CLAIMS EXPENSE, WHICH IS EXTENDED TO 290 INDIVIDUAL CHAPTERS OF THE FRATERNITY, THEIR OFFICERS, AND FRATERNITY APPOINTED VOLUNTEERS.
ALL OTHER ACCOMPLISHMENTS LEADERSHIP CONFERENCES/CONCLAVE - REPRESENT ALTERNATING BIENNIAL CONFERENCES OFFERING A CONCENTRATED OPPORTUNITY FOR TEACHING AND TRAINING, THE EXCHANGE OF IDEAS, AND DISCUSSION OF NUMEROUS TOPICS AMOUNG THE FRATERNITY'S UNDERGRADUATE AND ALUMNI MEMBERSHIP. CADUCEUS MAGAZINE - PRODUCTION AND MAILING OF THE FRATERNITY'S QUARTERLY MAGAZINE. A GREATER CAUSE - THIS PROGRAM INCLUDES ALUMNI DEVELOPMENT EXPENSES RELATED TO THE FRATERNITY'S EFFORTS TO PROMOTE CONTINUING EDUCATION, LEADERSHIP DEVELOPMENT, LIFE SKILLS TRAINING, COMMUNITY INVOLVEMENT AND RECOGNITION FOR ITS APPROXIMATELY 210,000 ALUMNI MEMBERS. A GREATER CAUSE ADVOCATES ALUMNI OF THE FRATERNITY BECOMING INVOLVED AS ADVISORS AND MENTORS TO BOTH COMMUNITY GROUPS AND UNDERGRADUATE MEMBERS AND CHAPTERS.
BROTHERS IN ACTION - INCLUDES EXPENSES INCURRED TO MAINTAIN AND PROMOTE THE FRATERNITY'S 290 INDIVIDUAL CHAPTERS AND COLONIES. THESE EXPENSES INCLUDE THE FRATERNITY'S PROGRAMS DIRECTED AT DEVELOPMENT AND EDUCATION OF ITS UNDERGRADUATE MEMBERSHIP, INCLUDING LEADERSHIP SKILLS TRAINING, PERSONAL RESPONSIBILITY AND ACCOUNTABILITY, TIME MANAGEMENT TECHNIQUES, GOAL SETTING STRATEGIES, VALUES AND ETHICS EDUCATION, WORLD AND U.S. HISTORY PROGRAMS, ALCOHOL AND SUBSTANCE ABUSE PREVENTION AND EDUCATION, AND PEER INTERVENTION TECHNIQUES.
CHAMPION QUEST - THE CHAMPION QUEST RECRUITMENT TRAINING AND PROGRAMMING PROCESS DEVELOPED BY THE FRATERNITY EDUCATES THE MEMBERSHIP ON THE SKILLS OF NETWORKING, MARKETING, EVENT PLANNING AND PROGRAMMING, AND ADVANCEMENT OF THE GENERAL EDUCATIONAL MISSION OF THE HOST INSTITUTION AND THE FRATERNITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mitchell B Wilson Executive Di | Officer | 40 | $125,416 |
Chad Gebhardt Cao | Officer | 40 | $118,702 |
Adam J Merillat Worthy Grand | Trustee | 15 | $0 |
Martin C Petersen Treasurer | OfficerTrustee | 15 | $0 |
Adam T Poe Master Of Ce | OfficerTrustee | 15 | $0 |
Daniel J Tierney Scribe | OfficerTrustee | 15 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $5,398,712 |
| Investment income | $103,370 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $397,448 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $76,260 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $2,182 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,038,827 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $802,143 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $223,268 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $704,239 |
| Pension plan accruals and contributions | $50,105 |
| Other employee benefits | $67,506 |
| Payroll taxes | $73,700 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $26,382 |
| Fees for services: Other | $240,220 |
| Advertising and promotion | $0 |
| Office expenses | $20,846 |
| Information technology | $358,331 |
| Royalties | $0 |
| Occupancy | $255,998 |
| Travel | $378,060 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $742,764 |
| Interest | $35,086 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $115,144 |
| Insurance | $660,971 |
| All other expenses | $654,200 |
| Total functional expenses | $6,646,261 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $843,967 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $132,195 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $226,592 |
| Prepaid expenses and deferred charges | $536,698 |
| Net Land, buildings, and equipment | $2,750,766 |
| Investments—publicly traded securities | $2,979,873 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $54,733 |
| Total assets | $7,524,824 |
| Accounts payable and accrued expenses | $292,509 |
| Grants payable | $0 |
| Deferred revenue | $503,640 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $750,930 |
| Total liabilities | $1,547,079 |
| Net assets without donor restrictions | $5,977,745 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,524,824 |