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Nonprofiteer
← PHI THETA KAPPA FOUNDATION

Form 990 for tax year 2023

Filed by PHI THETA KAPPA FOUNDATION.

Totals

Total revenue
$2,550,993
Total expenses
$2,077,310
Contributions and grants received
$2,050,577
Grants paid
$1,221,014
Program service revenue
$0
Investment income
$492,108
Other revenue
$8,308
Total assets, end of year
$16,381,188
Total liabilities, end of year
$2,647,342
Net assets or fund balances, end of year
$13,733,846
Program services expenses (Part IX)
$1,441,626
Management and general expenses
$389,657
Fundraising expenses
$246,027
Program service expenses (Part III)
$1,441,626

Program services were 69.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1c · Fundraising events

    $25,241

  • 1d · Related organizations

    $615,968

  • 1f · All other contributions, gifts and grants

    $1,409,368

  • 1g · Noncash contributions included above

    $615,968

  • 3 · Investment income

    total $297,592 · excluded $297,592

  • 7a · Gross sales of assets other than inventory

    securities $888,148

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

    securities $693,632

  • 7c · Gain or loss

    securities $194,516

  • 7d · Net gain or loss

    total $194,516 · related or exempt $194,516

  • 8a · Fundraising events: gross income

    $10,080

  • 8a · Fundraising events: contributions included on line 1c

    $25,241

  • 8b · Fundraising events: direct expenses

    $6,772

  • 8c · Net income from fundraising events

    total $3,308 · excluded $3,308

  • 11a · Other revenue: MISCELLANEOUS REVENUE

    total $5,000 · related or exempt $5,000

  • 11e · Other revenue, total

    $5,000

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $1,221,014 · program services $1,221,014

  • 7 · Other salaries and wages

    total $485,503 · program services $125,827 · management and general $171,860 · fundraising $187,816

  • 8 · Pension plan contributions

    total $18,774 · program services $4,595 · management and general $7,081 · fundraising $7,098

  • 9 · Other employee benefits

    total $46,262 · program services $17,564 · management and general $15,846 · fundraising $12,852

  • 10 · Payroll taxes

    total $33,938 · program services $9,170 · management and general $12,863 · fundraising $11,905

  • 11c · Fees: accounting

    total $20,304 · management and general $20,304

  • 11f · Fees: investment management

    total $124,903 · management and general $124,903

  • 12 · Advertising and promotion

    total $2,639 · program services $1,571 · management and general $547 · fundraising $521

  • 13 · Office expenses

    total $1,686 · program services $528 · management and general $1,158

  • 16 · Occupancy

    total $9,248 · program services $3,098 · management and general $3,075 · fundraising $3,075

  • 17 · Travel

    total $18,834 · program services $8,818 · management and general $1,732 · fundraising $8,284

  • 22 · Depreciation, depletion and amortization

    total $9,152 · program services $4,695 · management and general $4,457

  • 24a · Other expenses: PROGRAM

    total $36,950 · program services $26,832 · management and general $3,041 · fundraising $7,077

  • 24b · Other expenses: DUES AND SUBSCRIPTIONS

    total $23,154 · program services $12,060 · management and general $7,149 · fundraising $3,945

  • 24c · Other expenses: OTHER TAXES AND REGISTR

    total $10,670 · management and general $10,670

  • 24d · Other expenses: TELECOMMUNICATIONS

    total $6,397 · program services $2,589 · management and general $2,968 · fundraising $840

  • 24e · All other expenses

    total $7,882 · program services $3,265 · management and general $2,003 · fundraising $2,614

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $836,330 · end of year $3,393,831

  • 2 · Savings and temporary cash investments

    beginning of year $27,277 · end of year $164,762

  • 3 · Pledges and grants receivable

    beginning of year $90,889 · end of year $206,916

  • 13 · Investments: program-related

    beginning of year $11,290,266 · end of year $12,605,679

  • 15 · Other assets

    beginning of year $10,000 · end of year $10,000

  • 25 · Other liabilities

    beginning of year $206,148 · end of year $2,647,342

  • 27 · Net assets without donor restrictions

    beginning of year $3,243,325 · end of year $3,865,095

  • 28 · Net assets with donor restrictions

    beginning of year $8,805,289 · end of year $9,868,751

Mission and programs · 2023

Mission

THE MISSION OF THE PHI THETA KAPPA FOUNDATION IS TO SECURE THE FINANCIAL RESOURCES TO SUPPORT THE VALUES, VISION, AND PRIORITIES OF THE PHI THETA KAPPA HONOR SOCIETY.

Activities or mission (Part I)

THE PURPOSE OF PHI THETA KAPPA FOUNDATION IS TO SECURE THE FINANCIAL RESOURCES TO SUPPORT THE VALUES, VISION, AND PRIORITIES OF THE PHI THETA KAPPA HONOR SOCIETY.

  • THE PHI THETA KAPPA FOUNDATION'S PURPOSE IS TO RAISE AND OVERSEE THE VOLUNTARY PRIVATE SUPPORT OF TIME, TALENT, AND FINANCIAL CONTRIBUTIONS TO SUPPORT AND ADVANCE THE MISSION, VISION AND PRIORITIES OF PHI THETA KAPPA HONOR SOCIETY.

    Expenses $1,441,626 · Grants $1,221,014 · Revenue $199,516

As filed on the 2023 return.

Listed in Part VII

  • Dr Willis Lott

    CHAIR

    Total calculated
    $0
    Hours/week
    1

  • Dr George Boggs

    INTERNATIONAL HONORARY MEM

    Total calculated
    $0
    Hours/week
    1 + 2 related

  • Lou Oberndorf

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jane Hale Hopkins

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Jodi Harris

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Jason Scales

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Michael Chipps

    TRUSTEE

    Total calculated
    $0
    Hours/week
    1

  • Dr Lynn Tincher-Ladner

    SECRETARY

    Total calculated
    $410,142
    From this org
    $0
    From related orgs
    $386,564
    Other
    $23,578
    Hours/week
    8 + 32 related

    Schedule J breakdown matched by us

    Base
    $0 + $325,064 related
    Bonus
    $0
    Other
    $0 + $61,500 related
    Deferred
    $0 + $15,282 related
    Nontaxable benefits
    $0 + $8,296 related
    Filer's total
    $0 + $410,142 related

  • Monica Marlowe

    EXECUTIVE DIRECTOR

    Total calculated
    $193,512
    From this org
    $0
    From related orgs
    $174,122
    Other
    $19,390
    Hours/week
    40

    Schedule J breakdown matched by us

    Base
    $0 + $169,122 related
    Bonus
    $0 + $5,000 related
    Other
    $0
    Deferred
    $0 + $8,667 related
    Nontaxable benefits
    $0 + $10,723 related
    Filer's total
    $0 + $193,512 related

  • Paige B Chandler

    CFO

    Total calculated
    $171,357
    From this org
    $0
    From related orgs
    $153,192
    Other
    $18,165
    Hours/week
    4 + 36 related

    Schedule J breakdown matched by us

    Base
    $0 + $137,942 related
    Bonus
    $0 + $5,000 related
    Other
    $0 + $10,250 related
    Deferred
    $0 + $7,323 related
    Nontaxable benefits
    $0 + $10,842 related
    Filer's total
    $0 + $171,357 related

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

  • 1a · Housing allowance or residence for personal use
  • 1b · Written policy on the line-1a expenses
  • 2 · Substantiation required before reimbursing expenses
  • 4b · Supplemental nonqualified retirement plan

Answered no

  • 4a · Severance or change-of-control payment
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

The filer's explanations (Part III)

PART I, LINE 1A
DR. LYNN TINCHER-LADNER RECEIVED A $39,000 HOUSING AND AUTO ALLOWANCE DURING THE PERIOD OF JANUARY 1, 2023 THROUGH DECEMBER 31, 2023, AND IT WAS INCLUDED IN HER TAXABLE WAGES.
PART I, LINE 3
THE FOUNDATION'S EXECUTIVE DIRECTOR IS COMPENSATED BY A RELATED ORGANIZATION, PHI THETA KAPPA. PHI THETA KAPPA USES THE FOLLOWING TO ESTABLISH THE COMPENSATION OF THE FOUNDATION'S EXECUTIVE DIRECTOR: COMPENSATION COMMITTEE, FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION SURVEYS OR STUDIES, AND APPROVAL BY THE BOARD OR COMPENSATION COMMITTEE.
PART I, LINE 4B
DR. LYNN TINCHER-LADNER AND PAIGE CHANDLER PARTICIPATE IN THE 457B PLAN. BOTH HAD CONTRIBUTIONS MADE TO THE PLAN ON THEIR BEHALF DURING 12/31/23. THESE DEFERRALS ARE INCLUDE IN THEIR COMPENSATION LISTED ON SCHEDULE J, FROM A RELATED ORGANIZATION.
FORM 990, SCHEDULE J, PART II:
PLEASE NOTE THAT THE FOUNDATION DOES NOT HAVE ANY EMPLOYEES OR ISSUE ANY W-2S. HOWEVER, A PORTION OF EMPLOYEES' SALARIES FROM THE SOCIETY ARE ALLOCATED TO THE FOUNDATION.

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

  • PHI THETA KAPPA

    $1,221,014

    SCHOLARSHIP PROGRAMS, CONVENTIONS SPONSORSHIPS, AND GRANT PROGRAMS

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2023
Filed
18 July 2024
IRS schema version
2023v5.1
Source object
202422059349300012

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