Phi Sigma Sigma Foundation Inc
- Assets
- $4.0m
- Revenue
- $528.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Eldersburg, MD
- Founding
- 03/2007
- Data as of
- 06/2023
- EIN
- 20-5942561
Organization Overview
Phi Sigma Sigma Foundation Inc is located in Eldersburg, MD. The organization was established in 2007. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phi Sigma Sigma Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2023, Phi Sigma Sigma Foundation Inc generated $528.3k in total revenue. The organization has seen a slow decline revenue. Over the past 8 years, revenues have fallen by an average of (1.6%) each year. All expenses for the organization totaled $495.2k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Phi Sigma Sigma Foundation Inc has awarded 36 individual grants totaling $1,512,980. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
RAISE FUNDS FOR THE PURPOSE OF PROVIDING EDUCATIONAL GRANTS, SCHOLARSHIPS, LEADERSHIP, EDUCATIONAL PROGRAMMING & SUPPORT OF CHARITABLE ORGANIZATIONS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORTED LEADERSHIP TRAINING FOR CHAPTERS. AWARDED $323,224 IN EDUCATIONAL GRANTS, SCHOLARSHIPS AND ASSISTANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Vanessa Freeman Zerhusen President | OfficerTrustee | 5 | $0 |
Melissa Sylvester Vice President | OfficerTrustee | 5 | $0 |
Melanie Boone Treasurer | OfficerTrustee | 3 | $0 |
Marcie Berson Director | Trustee | 1 | $0 |
Lisa Damore Director | Trustee | 1 | $0 |
Gina Kerley Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $13,257 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $406,038 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $419,295 |
| Total Program Service Revenue | $0 |
| Investment income | $84,041 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $1,008 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $12,220 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $528,345 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $195,955 |
| Grants and other assistance to domestic individuals. | $127,269 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $8,000 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $33,502 |
| Fees for services: Other | $2,372 |
| Advertising and promotion | $0 |
| Office expenses | $27,380 |
| Information technology | $20,270 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,621 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $3,846 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $5,521 |
| Insurance | $10,074 |
| All other expenses | $56,413 |
| Total functional expenses | $495,223 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $154,028 |
| Savings and temporary cash investments | $571,856 |
| Pledges and grants receivable | $826 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $22,082 |
| Investments—publicly traded securities | $3,255,561 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $4,004,353 |
| Accounts payable and accrued expenses | $10,750 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| 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 | $150,000 |
| Other liabilities | $34,085 |
| Total liabilities | $194,835 |
| Net assets without donor restrictions | $1,365,156 |
| Net assets with donor restrictions | $2,444,362 |
| 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 | $4,004,353 |
Grants Awarded
Over the last fiscal year, Phi Sigma Sigma Foundation Inc has awarded $195,955 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
PHI SIGMA SIGMA NATIONAL HOUSING CORPORATION PURPOSE: HOUSING EDUCATION | $65,012 |
PHI SIGMA SIGMA INC PURPOSE: LEADERSHIP AND EDUCATION | $130,943 |