Gamma Iota Sigma
- Assets
- $1.2m
- Revenue
- $1.6m
- Investments
- $0.0
- Employees
- 5
- Location
- Powell, OH
- Founding
- 04/1983
- Data as of
- 12/2022
- EIN
- 23-7087235
Organization Overview
Gamma Iota Sigma is located in Powell, OH. The organization was established in 1983. According to its NTEE Classification (B80) the organization is classified as: Student Services, under the broad grouping of Education and related organizations. As of 12/2022, Gamma Iota Sigma employed 5 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gamma Iota Sigma 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 12/2022, Gamma Iota Sigma generated $1.6m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 10.0% each year. All expenses for the organization totaled $1.1m during the year ending 12/2022. While expenses have increased by 7.4% 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROMOTE & SUSTAIN COLLEGIATE STUDENT INTEREST IN INSURANCE, RISK MANAGEMENT, & ACTUARIAL SCIENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CONFERENCES:GAMMA IOTA SIGMA (GIS) SPONSORS CORE PROGRAMMING INCLUDING THE REGIONAL CONFERENCE SERIES, PIPELINE EVENT, ALLIES IN INSURANCE EVENT, LEADERSHIP SYMPOSIUM, AND THE ANNUAL INTERNATIONAL CONFERENCE. FROM 2021-2023, THE REGIONAL CONFERENCE SERIES REACHED OVER 650 STUDENTS. THE LEADERSHIP SYMPOSIUM BROUGHT IN NEARLY 400-CHAPTER PRESIDENTS AND OFFICERS. THE ANNUAL CONFERENCE REACHED NEARLY 1,500 STUDENTS. THE ALLIES IN INSURANCE EVENT BRINGS STUDENTS AND INDUSTRY TOGETHER TO DISCUSS HOW TO BE AN EFFECTIVE ALLY. THE EVENT ALSO PROVIDES RESOURCES FOR INTERNATIONAL STUDENTS, EMPLOYEE RESOURCE GROUPS, AND MUCH MORE, REACHING HUNDREDS OF STUDENTS OVER THE PAST THREE YEARS.
MEMBERSHIP AND CHAPTER OPERATIONS:GAMMA IOTA SIGMA PRODUCES STUDENT NEWSLETTERS, INDUSTRY NEWSLETTERS AND OTHER PUBLICATIONS. IN 2022, CAREER GUIDANCE OFFICE HOURS WERE ADDED AS A RESOURCE ALLOWING BOARD OF TRUSTEES AND ADVISORY COUNCIL MEMBERS THE OPPORTUNITY TO MENTOR STUDENTS ON THEIR CAREER JOURNEYS. THE SPEAKERS BUREAU WAS DEVELOPED AS A RESOURCE FOR CHAPTERS LOOKING FOR INDUSTRY SPEAKERS AND SUBJECT MATTER EXPERTS TO PRESENT TO THEIR CHAPTERS. MINORITY SERVING INSTITUTION ROUNDTABLES WERE IMPLEMENTED AND REACHED UPWARDS OF 25 HBCU'S, HISPANIC SERVING INSTITUTIONS AND COMMUNITY COLLEGES. DEI OFFICERS WERE ADDED TO GIS CHAPTERS AND DIVERSITY, EQUITY, AND INCLUSION WAS PRIORITIZED WITH STUDENT LEADERS THROUGH INCREASED AWARENESS, TRAINING, AND EXPOSURE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Grace Grant Executive Director | OfficerTrustee | 40 | $163,750 |
Carrie Busic President | OfficerTrustee | 1 | $0 |
Stephen Marohn Immediate Past President | OfficerTrustee | 1 | $0 |
Michael Klein Executive Vice President | OfficerTrustee | 1 | $0 |
Brady Kelley Vice President | OfficerTrustee | 1 | $0 |
Nick Abraham Treasurer | OfficerTrustee | 1 | $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 | $271,357 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $271,357 |
| Total Program Service Revenue | $1,272,471 |
| Investment income | $7,116 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,550,944 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $37,670 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $163,750 |
| Compensation of current officers, directors, key employees. | $44,600 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $297,214 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $31,038 |
| Payroll taxes | $35,545 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $525 |
| Fees for services: Accounting | $42,675 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $1,724 |
| Fees for services: Other | $12,897 |
| Advertising and promotion | $6,269 |
| Office expenses | $23,403 |
| Information technology | $27,336 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $30,599 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $425,607 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $5,710 |
| All other expenses | $2,703 |
| Total functional expenses | $1,144,665 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $157,961 |
| Savings and temporary cash investments | $501,173 |
| Pledges and grants receivable | $175,000 |
| Accounts receivable, net | $67,270 |
| 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 | $57,155 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $192,199 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,150,758 |
| Accounts payable and accrued expenses | $5,585 |
| Grants payable | $0 |
| Deferred revenue | $53,880 |
| 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 | $0 |
| Total liabilities | $59,465 |
| Net assets without donor restrictions | $916,293 |
| Net assets with donor restrictions | $175,000 |
| 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 | $1,150,758 |