Sigma Chi Building Association
- Assets
- $2.2m
- Revenue
- $498.2k
- Investments
- $0.0
- Employees
- 3
- Location
- Minneapolis, MN
- Founding
- 05/1940
- Data as of
- 08/2020
- EIN
- 41-1365083
Organization Overview
Sigma Chi Building Association is located in Minneapolis, MN. The organization was established in 1940. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, under the broad grouping of Education and related organizations. As of 08/2020, Sigma Chi Building Association employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sigma Chi Building Association is a 501(c)(2) and as such, is described as a "Title Holding Corporation for an Exempt Organization" by the IRS.
For the year ending 08/2020, Sigma Chi Building Association generated $498.2k in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 7.3% each year. All expenses for the organization totaled $279.4k during the year ending 08/2020. While expenses have increased by 9.6% per year over the past 6 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
2020
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDING COLLEGIATE FRATERNITY HOUSING AND INTERACTION WITH ALUMNI AND STUDENTS
Describe the Organization's Program Activity:
Part 3 - Line 4a
MEMBERSHIP INCLUDED UNIVERSITY OF MN MALE STUDENTS AS WELL AS ALUMNI
MEMBERSHIP INCLUDED UNIVERSITY OF MN MALE STUDENTS AS WELL AS ALUMNI
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Aaron Schumm President | Officer | 2 | $0 |
Robert Francis Treasurer | Officer | 2 | $0 |
Christian Eng Vice-Res | Officer | 1 | $0 |
Richard Childs Secretary | Officer | 1 | $0 |
William Langer Director | Trustee | 1 | $0 |
John Scheffert Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $291,956 |
| Investment income | $603 |
| 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 | $498,165 |
| Statement of Expenses | |
|---|---|
| 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. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $48,257 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $2,871 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,649 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $60 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $127,861 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $3,209 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $77,213 |
| Insurance | $14,160 |
| All other expenses | $0 |
| Total functional expenses | $279,394 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $229,915 |
| Savings and temporary cash investments | $182,659 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $68,772 |
| 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 |
| Investments—publicly traded securities | $3,522 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $3,100 |
| Total assets | $2,199,127 |
| Accounts payable and accrued expenses | $34,261 |
| Grants payable | $0 |
| Deferred revenue | $31,146 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $6,300 |
| 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 | $10,000 |
| Total liabilities | $75,407 |
| Net assets without donor restrictions | $0 |
| 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 |
| Total liabilities and net assets/fund balances | $2,123,720 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Sigma Chi Building Association has recieved totaling $200,622.
| Awarding Organization | Amount |
|---|---|
Don & Lorraine Freeberg Foundation Glendale, CA PURPOSE: CHARITABLE ACTIVITIES | $200,622 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Omega Enterprises Inc Eba Green Bay, WI | $419,566 | $1,989,091 |
Sigma Lambda Gamma National Sorority Inc Iowa City, IA | $363,211 | $683,914 |
Delta Tau Delta Fraternity Ames, IA | $14,265 | $764,487 |
Peo Sisterhood International Chapter Des Moines, IA | $1,163,643 | $728,682 |
Farm House Fraternity Inc Ames, IA | $86,673 | $644,568 |
Chi Omega Fraternity Minneapolis, MN | $163,494 | $592,068 |
Alpha Gamma Delta Fraternity Ames, IA | $145,177 | $560,203 |
Sigma Chi Fraternity Minneapolis, MN | $88,169 | $515,786 |
Gamma Phi Beta Sorority Inc Ames, IA | $64,627 | $581,753 |
Pi Sigma Epsilon Inc Milwaukee, WI | $511,121 | $648,587 |
Sigma Nu Fraternity Beta Mu Chapter Iowa City, IA | $52,489 | $439,030 |
Gamma Phi Beta Sorority Inc Iowa City, IA | $451,815 | $470,283 |