The Tau Beta Pi Association Inc
- Assets
- $41.1m
- Revenue
- $4.6m
- Investments
- $0.0
- Employees
- 24
- Location
- Knoxville, TN
- Founding
- 01/1949
- Data as of
- 07/2023
- EIN
- 62-0479545
Organization Overview
The Tau Beta Pi Association Inc is located in Knoxville, TN. The organization was established in 1949. 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 07/2023, Tau Beta Pi Association Inc employed 24 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Tau Beta Pi Association Inc 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 07/2023, Tau Beta Pi Association Inc generated $4.6m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (4.8%) each year. All expenses for the organization totaled $3.8m during the year ending 07/2023. 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
AS THE ONLY ACADEMIC HONOR SOCIETY THAT CONFERS RECOGNITION ON ELIGIBLE INDIVIDUALS FROM ALL ENGINEERING DISCIPLINES, TAU BETA PI RECOGNIZES THOSE WHO HAVE CONFERRED HONOR UPON THEIR ALMA MATERS BY DISTINGUISHED SCHOLARSHIP AND EXEMPLARY CHARACTER AS STUDENTS IN ENGINEERING, OR BY THEIR ATTAINMENTS AS ALUMNI IN THE FIELD OF ENGINEERING, PROVIDES LEADERSHIP AND PROFESSIONAL DEVELOPMENT TRAINING FOR ENGINEERING STUDENTS AND ALUMNI MEMBERS, AND PROMOTES LIFELONG ALUMNUS MEMBER INVOLVEMENT AND CULTIVATES A COMMUNITY OF DEDICATED HIGH ACHIEVERS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDED $10,000 FELLOWSHIPS TO 31 STUDENTS FOR A YEAR OF GRADUATE STUDY. AWARDED 12 $1,000, 252 $2,000, AND 1 $3,000 SCHOLARSHIPS TO 265 ENGINEERING SENIORS. 12 COLLEGE FRESHMAN RECEIVED $1,000 FOR ENGINEERING STUDY. $4,000 IN SCHOLARSHIPS WERE AVAILABLE TO STUDENTS SELECTED BY 8 CHAPTERS.
MEMBERS ELECTED AND INITIATED BY COLLEGE CHAPTERS RECEIVED MATERIAL TO DENOTE THEIR LIFETIME AFFILIATION WITH TAU BETA PI. VARIOUS ASSOCIATION AWARDS WERE PRESENTED TO SELECTED MEMBERS AND CHAPTERS FOR OUTSTANDING SERVICE AND ACHIEVEMENTS. (SEE SCHEDULE I)
PUBLISHED A QUARTERLY MAGAZINE WITH A CIRCULATION OF OVER 80,000 FOR MEMBERS. FEATURES INCLUDE NEWS OF THE ASSOCIATION, CHAPTERS, AND MEMBERS AND ARTICLES ON ENGINEERING. ALSO PUBLISHED AN ONLINE NEWSLETTER ON COLLEGE ACTIVITIES AND LEADERSHIP INFORMATION WITH A CIRCULATION OF 11,000 ENGINEERING JUNIORS AND SENIORS.
CONVENTION, DISTRICT, ENGINEERING FUTURES, MINDSET, GREATER INTEREST IN GOVERNMENT (GIG), STUDENT ASSISTANCE HELD NATIONAL AND REGIONAL MEETINGS OF ITS MEMBERS WHERE COLLEGIATE CHAPTER OFFICERS RECEIVE LEADERSHIP TRAINING, PROFESSIONAL DEVELOPMENT, AND CHAPTER OPERATIONS TRAINING. STUDENTS RECEIVE TRAINING IN POSSIBLE SERVICE ACTIVITIES INCLUDING TUTORING STUDENTS, COUNSELING HIGH-SCHOOLERS, TRAINING K-12 MATH AND SCIENCE STUDENTS, AND PROVIDING VOLUNTEERS AND FUNDS TO OTHER CHARITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Curtis Gomulinski Executive Director | Officer | 50 | $111,650 |
Rachel Alexander President, Executive Councillor | OfficerTrustee | 5 | $0 |
Ron Hickling Vice-President, Executive Councillor | OfficerTrustee | 5 | $0 |
Michael Peterson Secretary, Executive Councillor | OfficerTrustee | 5 | $0 |
Michael Hand Treasurer, Executive Councillo | OfficerTrustee | 5 | $0 |
Ming DE Lin Executive Councillor | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Lsc Communications Printing Of Publication | 7/30/23 | $187,337 |
Allegiance Fundraising Mailing To Aluimni | 7/30/23 | $121,249 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $561 |
| Membership dues | $252,775 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,849,407 |
| Noncash contributions included in lines 1a–1f | $22,667 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,102,743 |
| Total Program Service Revenue | $582,521 |
| Investment income | $1,916,120 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,897 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | -$49,984 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,553,297 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $18,900 |
| Grants and other assistance to domestic individuals. | $871,188 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $750 |
| Compensation of current officers, directors, key employees. | $152,015 |
| Compensation of current officers, directors, key employees. | $67,861 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $823,567 |
| Pension plan accruals and contributions | $28,640 |
| Other employee benefits | $71,571 |
| Payroll taxes | $73,312 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $21,600 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $19,050 |
| Fees for services: Investment Management | $69,895 |
| Fees for services: Other | $27,544 |
| Advertising and promotion | $2,089 |
| Office expenses | $102,133 |
| Information technology | $29,601 |
| Royalties | $0 |
| Occupancy | $27,693 |
| Travel | $351,045 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $530,889 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $8,693 |
| Insurance | $8,454 |
| All other expenses | $34,919 |
| Total functional expenses | $3,755,609 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $672,275 |
| Savings and temporary cash investments | $1,812 |
| Pledges and grants receivable | $321,905 |
| Accounts receivable, net | $42,327 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $13,078 |
| Inventories for sale or use | $105,010 |
| Prepaid expenses and deferred charges | $50,013 |
| Net Land, buildings, and equipment | $92,191 |
| Investments—publicly traded securities | $38,869,313 |
| Investments—other securities | $0 |
| Investments—program-related | $907,936 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $41,075,860 |
| Accounts payable and accrued expenses | $459,784 |
| Grants payable | $873,000 |
| Deferred revenue | $388,972 |
| 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 | $982,183 |
| Total liabilities | $2,703,939 |
| Net assets without donor restrictions | $20,320,192 |
| Net assets with donor restrictions | $18,051,729 |
| 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 | $41,075,860 |