The Endowment Fund Of The Phi Kappa Psi Fraternity
- Assets
- $77.2m
- Revenue
- $61.6m
- Investments
- $0.0
- Employees
- 24
- Location
- Indianapolis, IN
- Founding
- 10/1988
- Data as of
- 12/2023
- EIN
- 36-6130655
Organization Overview
The Endowment Fund Of The Phi Kappa Psi Fraternity, operating under the name Phi Kappa Psi Fnd Phi Psi Foundation, is located in Indianapolis, IN. The organization was established in 1988. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2023, Phi Kappa Psi Fnd Phi Psi Foundation employed 24 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phi Kappa Psi Fnd Phi Psi Foundation 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 12/2023, Phi Kappa Psi Fnd Phi Psi Foundation generated $61.6m in total revenue. This organization has experienced exceptional growth, as over the past 9 years, it has increased revenue by an average of 30.8% each year . All expenses for the organization totaled $5.2m during the year ending 12/2023. While expenses have increased by 1.8% per year over the past 9 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.
Since 2014, Phi Kappa Psi Fnd Phi Psi Foundation has awarded 83 individual grants totaling $13,366,055. 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
990T
Mission & Program ActivityExcerpts From the 990T Filing
TAX YEAR
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO FOSTER THE DEVELOPMENT OF LEADERS AND TO PROMOTE ACADEMIC EXCELLENCE IN HIGHER EDUCATION BY PROVIDING STUDENTS WITH SCHOLARSHIPS AND AWARDS AND BY SUPPORTING EDUCATIONAL PROJECTS AND PROGRAMS FOR THEIR BENEFIT.
Describe the Organization's Program Activity:
SEE SCHEDULE O
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James C Denny Chairman | OfficerTrustee | 10 | $0 |
Timothy P Mccourt Vice Chairman | OfficerTrustee | 4 | $0 |
Bruce A Jackson Secretary/treasurer | OfficerTrustee | 6 | $0 |
Karl D Brensike Trustee | Trustee | 4 | $0 |
Robert W Dudley Trustee | Trustee | 5 | $0 |
Donald V Fites Trustee | Trustee | 5 | $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 | $2,574,107 |
| Noncash contributions included in lines 1a–1f | $107,191 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,574,107 |
| Total Program Service Revenue | $103,579 |
| Investment income | $2,234,314 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $535,097 |
| Net Gain/Loss on Asset Sales | $122,621 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $61,569,718 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $506,277 |
| Grants and other assistance to domestic individuals. | $369,428 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $516,301 |
| Compensation of current officers, directors, key employees. | $141,776 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $779,875 |
| Pension plan accruals and contributions | $30,972 |
| Other employee benefits | $53,545 |
| Payroll taxes | $92,449 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $28,670 |
| Fees for services: Accounting | $39,121 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $40,644 |
| Fees for services: Other | $209,956 |
| Advertising and promotion | $127,154 |
| Office expenses | $81,927 |
| Information technology | $2,937 |
| Royalties | $0 |
| Occupancy | $169,854 |
| Travel | $190,996 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $13,873 |
| Interest | $635,682 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $156,898 |
| Insurance | $61,756 |
| All other expenses | $0 |
| Total functional expenses | $5,160,954 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,258,317 |
| Savings and temporary cash investments | $37,005,424 |
| Pledges and grants receivable | $710,765 |
| Accounts receivable, net | $284,417 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $2,513,683 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $69,101 |
| Net Land, buildings, and equipment | $1,235,654 |
| Investments—publicly traded securities | $33,623,169 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $515,552 |
| Total assets | $77,216,082 |
| Accounts payable and accrued expenses | $269,114 |
| Grants payable | $0 |
| Deferred revenue | $505,725 |
| 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 | $66,120 |
| Total liabilities | $840,959 |
| Net assets without donor restrictions | $39,771,455 |
| Net assets with donor restrictions | $36,603,668 |
| 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 | $77,216,082 |
Grants Awarded
Over the last fiscal year, The Endowment Fund Of The Phi Kappa Psi Fraternity has awarded $488,017 in support to 7 organizations.
| Grant Recipient | Amount |
|---|---|
UNIVERSITY OF ILLINOIS ASSOCIATION OF PHI KAPPA PSI PURPOSE: EDUCATION AREA GRANTS | $6,219 |
THE HOUSING CORPORATION FOR THE CALIFORNIA GAMMA CHAPTER OF PHI KAPPA PSI PURPOSE: EDUCATIONAL OPERATING GRANTS | $107,956 |
CALIFORNIA EPSILON OF PHI KAPPA PSI HOUSE CORPORATION PURPOSE: EDUCATIONAL OPERATING GRANTS | $171,596 |
INDIANA EPSILON HOUSE CORPORATION PURPOSE: EDUCATION AREA GRANTS | $106,000 |
GEORGIA ALPHA HOUSING CORPORATION PURPOSE: EDUCATIONAL AREA GRANTS | $12,432 |
OKLAHOMA ALPHA HOUSING CORPORATION PURPOSE: EDUCATIONAL AREA GRANTS | $21,065 |