Sigma Phi Lambda Inc
- Assets
- $124.4k
- Revenue
- $0.0
- Investments
- $0.0
- Employees
- 5
- Location
- Corinth, TX
- Founding
- 07/2004
- Data as of
- 05/2023
- EIN
- 75-2889487
Organization Overview
Sigma Phi Lambda Inc is located in Corinth, TX. The organization was established in 2004. According to its NTEE Classification (B84) the organization is classified as: Alumni Associations, under the broad grouping of Education and related organizations. As of 05/2023, Sigma Phi Lambda Inc employed 5 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Sigma Phi Lambda 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 05/2023, Sigma Phi Lambda Inc generated $158.5k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.9%) each year. All expenses for the organization totaled $173.1k during the year ending 05/2023. As we would expect to see with falling revenues, expenses have declined by (1.5%) per year over the past 8 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990EZ
Mission & Program ActivityExcerpts From the 990EZ Filing
TAX YEAR
2023
Describe the Organization's Program Activity:
Part 3
IN 2022-2023, SIGMA PHI LAMBDA HAD OVER 850 MEMBERS IN ITS CHAPTERS ACROSS THE SOUTHEASTERN UNITED STATES CARRYING OUT ITS PURPOSE OF GLORIFYING GOD AND MAKING HIS NAME GREAT. SIGMA PHI LAMBDA ALSO HOSTED ALMOST 180 LEADERS AT ITS LEADERSHIP TRAINING RETREAT IN AUGUST 2022, WHERE THE LEADERS PARTICIPATED IN VARIOUS TRAINING SESSIONS TO EQUIP THEM WITH SKILLS TO OVERSEE AND LEAD AT THE 25 SIGMA PHI LAMBDA CHAPTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Christy Watson Co Executive | 40 | $12,675 | |
Deidre Merseal Chairperson/ | 2 | $0 | |
Megan Thompson Secretary/di | 2 | $0 | |
Joanna Hildebrand Rd Liaison/d | 2 | $0 | |
Bailey Gleitz Treasurer/di | 2 | $0 | |
Cara Morris Co Executive | 40 | $30,370 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $139,879 |
| Total Program Service Revenue | $23,818 |
| Membership dues | $0 |
| Investment income | $20 |
| Gain or Loss | $0 |
| Net Income from Gaming & Fundraising | $0 |
| Other Revenue | $0 |
| Total Revenue | $158,528 |
| Statement of Expenses | |
|---|---|
| Grants and similar amounts paid | $0 |
| Benefits paid to or for members | $0 |
| Salaries, other compensation, and employee benefits | $94,216 |
| Professional fees and other payments to independent contractors | $3,920 |
| Occupancy, rent, utilities, and maintenance | $0 |
| Printing, publications, postage, and shipping | $502 |
| Other expenses | $58,372 |
| Total expenses | $173,122 |
| Balance Sheet | |
|---|---|
| Cash, savings, and investments | $124,444 |
| Other assets | $0 |
| Total assets | $124,444 |
| Total liabilities | $1,360 |
| Net assets or fund balances | $123,084 |