Kappa Sigma Fraternity Housing Corp of Columbia
- Assets
- $1.4m
- Revenue
- $502.3k
- Investments
- $0.0
- Employees
- 7
- Location
- Columbia, SC
- Founding
- Data as of
- 05/2023
- EIN
- 57-0629943
Organization Overview
Kappa Sigma Fraternity Housing Corp of Columbia is located in Columbia, SC. As of 05/2023, Kappa Sigma Fraternity Housing Corp of Columbia employed 7 individuals. Kappa Sigma Fraternity Housing Corp of Columbia is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 05/2023, Kappa Sigma Fraternity Housing Corp of Columbia generated $502.3k in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 54.6% each year . All expenses for the organization totaled $545.0k during the year ending 05/2023. While expenses have increased by 18.5% 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
PROMOTE AND FOSTER THE FRATERNAL PRINCIPLES AND IDEALS OF KAPPA SIGMA FRATERNITY. ASSIST THE KAPPA SIGMA FRATERNITY CHI-OMEGA CHAPTER AT THE UNIVERSITY OF SOUTH CAROLINA IN LEGAL, BUSINESS, HOUSING, BOARDING, AND SOCIAL MATTERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DURING THE SCHOOL YEAR, OPERATE A FRATERNITY CHAPTER HOUSE AT THE UNIVERSITY OF SOUTH CAROLINA, WITH ROOMS FOR 34 STUDENT MEMBERS AND 1 HOUSE DIRECTOR, WHILE PROVIDING LIBRARY, STUDY AREAS, UNIVERSITY AND INTERNET COMPUTER CONNECTIONS, LAUNDRY, LOUNGE AND CHAPTER NEEDS FOR EDUCATIONAL, SOCIAL, RECREATIONAL AND BROTHERHOOD NEEDS. HOUSE MEALS WERE PROVIDED TO MEMBERS FOR THE FALL AND SPRING SEMESTER. SERVICE THE MORTGAGE, REDUCE THE DEBT, AND MAINTAIN THE PROPERTY WERE MAJOR ACHIEVEMENTS DURING THE YEAR. THE HOUSE IS CURRENTLY OCCUPIED AND THE CHAPTER IS IN GOOD STANDING WITH THE UNIVERSITY AND NATIONALS. PROVIDE A UNIVERSITY EMPLOYED HOUSE DIRECTOR LIVING QUARTERS FOR MANAGING THE OPERATION OF THE FRATERNITY HOUSE IN A SAFE, ECONOMICAL AND EFFICIENT MANNER. WORK WITH THE UNIVERSITY OFFICE OF GREEK LIFE AND THE GREEK VILLAGE ASSOCIATION TO EFFECT THE WORKING OF THE GREEK VILLAGE AND ENSURE THAT STUDENT ROOM AND BOARD FEES DUE THE CORPORATION ARE COLLECTED BY THE UNIVERSITY. PROVIDE REFRESHMENTS FOR RECRUITMENT FUNCTIONS, BRUNCH FOR ALUMNI BEFORE HOME FOOTBALL GAMES, BRUNCH FOR PARENTS OF UNDERGRADUATE BROTHERS AND ALUMNI DURING USC PARENTS WEEKEND AND ENTERTAINMENT FOR CHAPTER SPRING AND FALL FORMALS. PROVIDE SCHOLARSHIPS FOR UNDERGRADUATE BROTHERS TO ATTEND SUMMER LEADERSHIP CONCLAVES AND THE BIENNIAL GRAND CONCLAVE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mitch Corbett Director | OfficerTrustee | 1 | $0 |
Vann Mullis Director | OfficerTrustee | 1 | $0 |
Ryan Maltba President | OfficerTrustee | 1 | $0 |
Ben Hinson Director | OfficerTrustee | 1 | $0 |
Drew Welp Treasurer | OfficerTrustee | 1 | $0 |
Adam Lambert Director | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $36,027 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,027 |
| Total Program Service Revenue | $455,679 |
| Investment income | $160 |
| 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 | $502,347 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| 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 of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $110,522 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,700 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $21,497 |
| Fees for services: Accounting | $9,214 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $36,750 |
| Advertising and promotion | $0 |
| Office expenses | $356 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $162,200 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,275 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $52,199 |
| Insurance | $7,381 |
| All other expenses | $130,918 |
| Total functional expenses | $545,012 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $105,555 |
| Savings and temporary cash investments | $131,241 |
| Pledges and grants receivable | $0 |
| 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 | $1,161,486 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $36,027 |
| Total assets | $1,434,309 |
| Accounts payable and accrued expenses | $0 |
| 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 | $1,054,051 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $1,054,051 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $410,473 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | -$30,215 |
| Total liabilities and net assets/fund balances | $1,434,309 |