Form 990 for tax year 2024

Revenue

Part VIII, the statement of revenue.

• 1f · All other contributions, gifts and grants

  $28,875

• 3 · Investment income

  total $728,533 · excluded $728,533

• 7a · Gross sales of assets other than inventory

  securities $7,723,467

• 7b · Less cost or other basis and sales expenses

  securities $5,027,188

• 7c · Gain or loss

  securities $2,696,279

• 7d · Net gain or loss

  total $2,696,279 · excluded $2,696,279

Functional expenses

Part IX, the statement of functional expenses.

• 1 · Grants to domestic organizations and governments

  total $1,200,000 · program services $1,200,000

• 2 · Grants to domestic individuals

  total $455,480 · program services $455,480

• 5 · Compensation of officers, directors and key employees

  total $115,372 · program services $65,608 · management and general $38,459 · fundraising $11,305

• 7 · Other salaries and wages

  total $3,809 · program services $2,185 · management and general $1,249 · fundraising $375

• 9 · Other employee benefits

  total $418 · program services $220 · management and general $160 · fundraising $38

• 10 · Payroll taxes

  total $3,288 · program services $1,797 · management and general $1,181 · fundraising $310

• 11c · Fees: accounting

  total $56,824 · management and general $56,824

• 11f · Fees: investment management

  total $286,219 · management and general $286,219

• 11g · Fees: other

  total $333,240 · program services $971 · management and general $5,636 · fundraising $326,633

• 13 · Office expenses

  total $3,467 · program services $1,093 · management and general $716 · fundraising $1,658

• 16 · Occupancy

  total $85,375 · program services $48,741 · management and general $28,242 · fundraising $8,392

• 17 · Travel

  total $39,295 · program services $29,966 · management and general $9,153 · fundraising $176

• 19 · Conferences, conventions and meetings

  total $229 · program services $203 · management and general $25 · fundraising $1

• 22 · Depreciation, depletion and amortization

  total $58,858 · program services $33,602 · management and general $19,470 · fundraising $5,786

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $26,805 · end of year $27,067

• 3 · Pledges and grants receivable

  beginning of year $70,000 · end of year $70,000

• 9 · Prepaid expenses and deferred charges

  beginning of year $444 · end of year $623

• 10a · Land, buildings and equipment: cost or other basis

  $5,370,462

• 10b · Land, buildings and equipment: accumulated depreciation

  $1,884,239

• 10c · Land, buildings and equipment, net

  beginning of year $3,545,081 · end of year $3,486,223

• 11 · Investments: publicly traded securities

  beginning of year $22,936,510 · end of year $25,115,616

• 12 · Investments: other securities

  beginning of year $22,743,945 · end of year $22,554,300

• 17 · Accounts payable and accrued expenses

  beginning of year $6,831 · end of year $12,345

• 25 · Other liabilities

  beginning of year $1,595,036 · end of year $1,509,337

• 27 · Net assets without donor restrictions

  beginning of year $31,398,217 · end of year $32,365,155

• 28 · Net assets with donor restrictions

  beginning of year $16,322,701 · end of year $17,366,992

The filer's explanations (Part III)

PART I, LINE 3

THE FOUNDATION'S PERSONNEL ARE EMPLOYED BY THE PHI BETA KAPPA SOCIETY, A RELATED 501(C)(3) ORGANIZATION. THAT ORGANIZATION USES THE FOLLOWING TO ESTABLISH COMPENSATION: COMPENSATION SURVEY OR STUDY; APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.