Kappa Sigma Endowment Fund
- Assets
- $16.3m
- Revenue
- $3.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Charlottesville, VA
- Founding
- 08/1947
- Data as of
- 05/2023
- EIN
- 36-6018518
Organization Overview
Kappa Sigma Endowment Fund is located in Charlottesville, VA. The organization was established in 1947. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Kappa Sigma Endowment Fund 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 05/2023, Kappa Sigma Endowment Fund generated $3.5m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 12.9% each year . All expenses for the organization totaled $1.6m during the year ending 05/2023. While expenses have increased by 5.9% 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
KAPPA SIGMA ENDOWMENT FUND (THE ENDOWMENT FUND) IS A NONPROFIT ORGANIZATION FORMED TO PRODUCE MEANS AVAILABLE FOR BENEFICENT AND CHARITABLE PURPOSES OF KAPPA SIGMA FRATERNITY (THE FRATERNITY). THE ENDOWMENT FUND PROVIDES SCHOLARSHIPS AND OTHER QUALIFIED EDUCATIONAL PROGRAMS FOR THE FRATERNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
STUDENT SCHOLARSHIPS AND GRANTS: SINCE 1948, THE SCHOLARSHIP-LEADERSHIP AWARDS PROGRAM HAS BEEN THE ENDOWMENT FUND'S HALLMARK PROGRAM. THE TOTAL AWARDED THROUGH THE PROGRAM TO OUTSTANDING KAPPA SIGMA STUDENT LEADERS IS MORE THAN 7.0 MILLION. THE ENDOWMENT FUND IS ONE OF THE PREEMINENT GREEK FOUNDATIONS IN ITS FINANCIAL SUPPORT TO UNDERGRADUATE MEMBERS. DURING FY23, THE ENDOWMENT FUND PROVIDED 197 MERIT-BASED SCHOLARSHIPS, ALONG WITH 25 SCHOLARSHIPS THAT WERE PROVIDED AS PART OF THE DR. JOHN W. RYAN LEADERSHIP CIRCLE. IN ADDITION, THE ENDOWMENT FUND ADMINISTERS AND PROVIDES SCHOLARSHIP AWARDS OUT OF CHAPTER DESIGNATED INVESTMENT ACCOUNTS. DURING FY23, THIS CHAPTER SCHOLARSHIP FUND AWARDED 473 MERIT-BASED SCHOLARSHIPS TO OUTSTANDING STUDENT-LEADERS. DURING FY23, THE ENDOWMENT FUND PROVIDED 7 GRANTS THROUGH THE MILITARY HEROES CAMPAIGN TO ORGANIZATIONS DEDICATED TO ASSISTING MILITARY VETERANS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Thomas P Bishop Chairman | OfficerTrustee | 1 | $0 |
Donal L Mcclamroch Jr Treasurer | OfficerTrustee | 1 | $0 |
Kevin S Kaplan Trustee | Trustee | 1 | $0 |
Jeffrey S Mckenzie Trustee | Trustee | 1 | $0 |
Adam J Merillat Trustee | Trustee | 1 | $0 |
S Christian Nascimento Vice Chairma | 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 | $3,322,181 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,322,181 |
| Total Program Service Revenue | $0 |
| Investment income | $224,472 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$115,052 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,452,650 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $692,680 |
| 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 | $102,828 |
| Fees for services: Legal | $6,572 |
| Fees for services: Accounting | $14,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $58,473 |
| Fees for services: Other | $27,078 |
| Advertising and promotion | $0 |
| Office expenses | $5,398 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $148,084 |
| Travel | $10,795 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $73,720 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $191,663 |
| Insurance | $11,971 |
| All other expenses | $2,631 |
| Total functional expenses | $1,638,913 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $532,944 |
| Savings and temporary cash investments | $118,092 |
| Pledges and grants receivable | $158,421 |
| Accounts receivable, net | $5,898 |
| 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 | $24,938 |
| Net Land, buildings, and equipment | $5,401,777 |
| Investments—publicly traded securities | $9,465,910 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $631,193 |
| Total assets | $16,339,173 |
| Accounts payable and accrued expenses | $153,341 |
| 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 | $0 |
| Other liabilities | $0 |
| Total liabilities | $153,341 |
| Net assets without donor restrictions | $5,386,769 |
| Net assets with donor restrictions | $10,799,063 |
| 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 | $16,339,173 |