Sigma Chi Fraternity
- Assets
- $1.7m
- Revenue
- $789.7k
- Investments
- $0.0
- Employees
- 2
- Location
- Norman, OK
- Founding
- 02/1937
- Data as of
- 07/2022
- EIN
- 73-6100261
Organization Overview
Sigma Chi Fraternity, operating under the name Beta Kappa of Sigma Chi, is located in Norman, OK. The organization was established in 1937. 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 07/2022, Beta Kappa of Sigma Chi employed 2 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Beta Kappa of Sigma Chi is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 07/2022, Beta Kappa of Sigma Chi generated $789.7k in total revenue. This represents relatively stable growth, over the past 4 years the organization has increased revenue by an average of 5.8% each year. All expenses for the organization totaled $626.2k during the year ending 07/2022. While expenses have increased by 4.1% per year over the past 4 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
SEE SUPPORTING STATEMENT
Describe the Organization's Program Activity:
Part 3 - Line 4a
THIRTY PERCENT OF THE BETA KAPPA OF SIGMA CHI STUDENTS EARNED A 3.5 OR ABOVE GRADE POINT AVERAGE THIS SCHOOL YEAR. THE MEN OF BETA KAPPA OF SIGMA CHI ACTIVELY PARTICIPATE IN THE DERBY DAY ONLINE CHALLENGE TO RAISE FUNDS FOR RESEARCH AT THE HUNTSMAN CANCER INSTITUTE. AVERAGE NEW MEMBERS PER YEAR APPROXIAMTES 60 MEN AND RETENTION OF 4TH AND 5TH YEAR SENIORS IS IMPROVING WITH THE ADDITION OF A WING ON THE HOUSE OFFERING SUITES TO UPPER CLASSMEN WITH LEADERSHIP CHARACTERISTICS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Austin Bond President | Officer | 2 | $0 |
Mark Welch Treasurer | Officer | 10 | $0 |
Edwin Malloy Secretary | Officer | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $794,539 |
| Investment income | $110 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$4,990 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $789,659 |
| 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 | $37,892 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,059 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $29,700 |
| 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 | $284 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $267,798 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $17,866 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $49,098 |
| Insurance | $47,991 |
| All other expenses | $0 |
| Total functional expenses | $626,193 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $26,247 |
| Savings and temporary cash investments | $127,984 |
| Pledges and grants receivable | $2,020 |
| Accounts receivable, net | $367,260 |
| 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 | $822 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,721,748 |
| Accounts payable and accrued expenses | $37,543 |
| Grants payable | $0 |
| Deferred revenue | $404,050 |
| 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 | $423,493 |
| Other liabilities | $2,684 |
| Total liabilities | $867,770 |
| 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 | $853,978 |