Phi Mu Foundation
- Assets
- $11.1m
- Revenue
- $1.6m
- Investments
- $1.6m
- Employees
- 8
- Location
- Peachtree City, GA
- Founding
- 10/1959
- Data as of
- 06/2022
- EIN
- 62-6042543
Organization Overview
Phi Mu Foundation is located in Peachtree City, GA. The organization was established in 1959. 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 06/2022, Phi Mu Foundation employed 8 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Phi Mu 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 06/2022, Phi Mu Foundation generated $1.6m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.5% each year. All expenses for the organization totaled $1.8m during the year ending 06/2022. While expenses have increased by 2.4% per year over the past 7 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE MISSION OF PHI MU FOUNDATION IS THE LIFETIME DEVELOPMENT OF WOMEN THROUGH THE SUPPORT OF PHI MU'S LEADERSHIP, SCHOLARSHIP, PHILANTHROPIC, EDUCATIONAL PROGRAMS, AND HISTORIC PRESERVATION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
ACADEMIC SCHOLARSHIPS/MEMBER ASSISTANCE/LEADERSHIP PROGRAMS: THE FOUNDATION AWARDS MORE THAN 100 GRADUATE AND UNDERGRADUATE SCHOLARSHIPS EACH ACADEMIC YEAR. MOST SCHOLARSHIPS ARE UNRESTRICTED, BUT SOME HAVE BEEN ESTABLISHED FOR A PARTICULAR CHAPTER, FIELD OF STUDY, STATE OF RESIDENCE OR COLLEGE. THERE ARE BOTH MERIT AND FINANCIAL NEED BASED SCHOLARSHIPS. IN ADDITION, THE FOUNDATION IS PROUD TO PROVIDE EMERGENCY GRANTS FOR COLLEGIATE AND ALUMNAE MEMBERS WHO EXPERIENCE FINANCIAL DISTRESS DUE TO NATURAL DISASTERS, MEDICAL EMERGENCIES, OR OTHER SEVERE PERSONAL OR FAMILY ISSUES. TO FURTHER SUPPORT THE MISSION OF EDUCATIONAL AND LEADERSHIP INITIATIVES, THE FOUNDATION AWARDS GRANTS TO PHI MU FRATERNITY FOR THE DEVELOPMENT OF PREMIER, VALUES-BASED PROGRAMMING SUCH AS GREEK LIFE EDU, PHI MU LEADERSHIP INSTITUTE, AND THE CHAPTER CONSULTANT PROGRAM.
HISTORIC PRESERVATION: THE FOUNDATION MAINTAINS, PRESERVES, AND PROMOTES PHI MU'S HISTORY IN THE ARCHIVES AND MUSEUM LOCATED IN THE NATIONAL HEADQUARTERS IN PEACHTREE CITY, GEORGIA WHICH DISPLAYS SUCH ITEMS AS THE PRESIDENT'S CHAIR FROM THE PHILOMATHEAN HALL AT WESLEYAN COLLEGE, ORIGINAL BADGES, AND A TEXTILE COLLECTION OF PAST NATIONAL PRESIDENTS DRESSES. IN ADDITION, THE FOUNDATION IS RESPONSIBLE FOR THE MAINTENANCE OF THE PHILOMATHEAN ROOM IN THE CANNONBALL HOUSE, IN MACON, GEORGIA. ON DISPLAY IN THIS ROOM ARE MANY ARCHIVAL ITEMS.
PHILANTHROPY: SINCE 1986, CHILDREN'S MIRACLE NETWORK HOSPITALS (CMNH) HAS BEEN PHI MU'S PRIMARY PHILANTHROPIC PARTNER. PHI MU MEMBERS STRIVE TO PROVIDE AT LEAST 500,000 ANNUALLY TO SUPPORT CMNH'S MISSION. ADDITIONALLY COLLEGIATE AND ALUMNAE MEMBERS SUPPORT THE LIFETIME DEVELOPMENT OF WOMEN THROUGH GIFTS TO THE PHI MU FOUNDATION. PHI MU FOUNDATION'S MISSION EXEMPLIFIES SISTERS HELPING SISTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kristin Tofanelli Executive Di | OfficerTrustee | 40 | $110,217 |
Mandi Young Director Of | 40 | $103,831 | |
Robin White Fanning President | OfficerTrustee | 1 | $0 |
Jennifer Chapman Joyner Secretary/tr | OfficerTrustee | 1 | $0 |
Andrea Burchett Kash Chairman | OfficerTrustee | 1 | $0 |
Robin Benoit Trustee | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $337,197 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $1,142,796 |
| Noncash contributions included in lines 1a–1f | $81,888 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,479,993 |
| Total Program Service Revenue | $0 |
| Investment income | $285,556 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$150,838 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,619,138 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $345,618 |
| Grants and other assistance to domestic individuals. | $188,240 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $110,217 |
| Compensation of current officers, directors, key employees. | $44,087 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $450,885 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $75,229 |
| Payroll taxes | $42,385 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $89,445 |
| Advertising and promotion | $0 |
| Office expenses | $61,665 |
| Information technology | $67,256 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $50,125 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $3,582 |
| Insurance | $0 |
| All other expenses | $24,352 |
| Total functional expenses | $1,773,949 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $289,047 |
| Savings and temporary cash investments | $279,254 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $111,563 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $7,514 |
| Prepaid expenses and deferred charges | $50,141 |
| Net Land, buildings, and equipment | $9,438 |
| Investments—publicly traded securities | $8,186,396 |
| Investments—other securities | $1,589,979 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $579,761 |
| Total assets | $11,103,093 |
| Accounts payable and accrued expenses | $22,539 |
| Grants payable | $0 |
| Deferred revenue | $36,813 |
| 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 | $59,352 |
| Net assets without donor restrictions | $3,800,291 |
| Net assets with donor restrictions | $7,243,450 |
| 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 | $11,103,093 |
Grants Awarded
Over the last fiscal year, Phi Mu Foundation has awarded $343,618 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Peachtree City, GA | | $173,618 |
PHI MU ALPHA BETA CHAPTER | | | $170,000 |
Grants Recieved
Over the last fiscal year, we have identified 6 grants that Phi Mu Foundation has recieved totaling $30,873.
| Awarding Organization | Amount |
|---|---|
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $22,838 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $5,605 |
Newberry Family Foundation Inc Havana, FL PURPOSE: EDUCATION | $1,852 |
Lumen Clarke M Williams Foundation Wilmington, DE PURPOSE: ZETA SIGMA SISTERHOOD SCHOLARSHIP FUND | $313 |
The Riedl Foundation Calistoga, CA PURPOSE: GENERAL | $240 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $25 |
Endowment Analysis
| Beg. Balance | $5,401,995 |
| Earnings | -$742,173 |
| Net Contributions | $321,277 |
| Other Expense | $65,090 |
| Grants | $165,031 |
| Ending Balance | $4,750,978 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pi Kappa Phi Properties Inc Charlotte, NC | $36,157,884 | $10,688,194 |
Alpha Omicron Pi Fraternity Inc Brentwood, TN | $57,425,535 | $8,065,959 |
Omega Psi Phi Fraternity Decatur, GA | $10,119,312 | $8,150,669 |
Alpha Gamma Delta Fraternity Tuscaloosa, AL | $2,561,270 | $3,643,915 |
House Board Of Gamma Pi Of Kappa Kappa Gamma Tuscaloosa, AL | $20,813,023 | $3,697,163 |
Nautilus Management Inc Memphis, TN | $16,834,211 | $2,172,564 |
Alabama Beta Of Pi Beta Phi House Association Incorporated Tuscaloosa, AL | $16,056,470 | $2,809,750 |
The Tau Beta Pi Association Inc Knoxville, TN | $43,758,884 | $4,633,459 |
Kappa Delta Sorority Tuscaloosa, AL | $18,544,101 | $3,357,016 |
Alpha Chi Omega Alpha Upsilon House Corporation Tuscaloosa, AL | $17,872,945 | $3,140,605 |
Phi Mu House Corporation Tuscaloosa, AL | $18,579,547 | $3,616,804 |
Alpha Delta Pi Building Corporation Tuscaloosa, AL | $14,319,134 | $2,607,081 |