Gamma Phi Beta Sorority Inc
- Assets
- $14.0m
- Revenue
- $2.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Tuscaloosa, AL
- Founding
- 11/1940
- Data as of
- 07/2021
- EIN
- 63-1004292
Organization Overview
Gamma Phi Beta Sorority Inc is located in Tuscaloosa, AL. 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. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Gamma Phi Beta Sorority Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 07/2021, Gamma Phi Beta Sorority Inc generated $2.0m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (5.3%) each year. All expenses for the organization totaled $2.3m during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (2.8%) per year over the past 6 years. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE, MAINTAIN, AND MANAGE SORORITY CHAPTER HOUSING FOR THE EPSILON LAMBDA CHAPTER OF GAMMA PHI BETA SORORITY AT THE UNIVERSITY OF ALABAMA
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDED MEALS AND HOUSING FOR MEMBERS OF UNDERGRADUATE CHAPTER OF A NATIONAL COLLEGIATE SOCIAL SORORITY WHILE ALSO PROVIDING A MEANS FOR UNDERGRADUATE AND ALUMNI MEMBERS TO INTERACT
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nikki Peterson President | OfficerTrustee | 12 | $0 |
Haley Loflin Treasurer | OfficerTrustee | 2 | $0 |
Darlene Skier Secretary | OfficerTrustee | 2 | $0 |
Ellie Taylor Vice President | OfficerTrustee | 2 | $0 |
Adra Cheek Board Member | Trustee | 2 | $0 |
Vada Baird Board Member | Trustee | 2 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
College Fresh Food Services | 7/30/21 | $192,798 |
Harrison Construction Company Inc Repairs And Maintenance | 7/30/21 | $234,669 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $2,042,716 |
| Investment income | $1,889 |
| 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 | $2,044,605 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $1,486 |
| Fees for services: Accounting | $8,786 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $169,880 |
| Advertising and promotion | $0 |
| Office expenses | $6,508 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $451,675 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $291 |
| Interest | $545,132 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $664,418 |
| Insurance | $23,089 |
| All other expenses | $0 |
| Total functional expenses | $2,341,761 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $3,054,635 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $342,543 |
| 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 | $10,645,123 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $14,042,301 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $342,543 |
| 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 | $9,802,494 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $5,875 |
| Total liabilities | $10,150,912 |
| 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 |
| Retained earnings, endowment, accumulated income, or other funds | $3,891,389 |
| Total liabilities and net assets/fund balances | $14,042,301 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Phi Theta Kappa Jackson, MS | $30,434,221 | $16,557,458 |
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 |