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Nonprofiteer
← BETA THETA PI FOUNDATION

Form 990 for tax year 2023

Filed by BETA THETA PI FOUNDATION.

Totals

Total revenue
$7,229,366
Total expenses
$7,289,321
Contributions and grants received
$5,471,729
Grants paid
$5,005,846
Program service revenue
$0
Investment income
$1,460,759
Other revenue
$296,878
Total assets, end of year
$35,744,331
Total liabilities, end of year
$1,061,939
Net assets or fund balances, end of year
$34,682,392
Program services expenses (Part IX)
$6,114,357
Management and general expenses
$715,571
Fundraising expenses
$459,393
Program service expenses (Part III)
$6,114,357

Program services were 83.9% 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.

  • 1b · Membership dues

    $199,440

  • 1f · All other contributions, gifts and grants

    $5,272,289

  • 1g · Noncash contributions included above

    $569,612

  • 3 · Investment income

    total $855,443 · excluded $855,443

  • 6a · Gross rents

    real property $269,298

  • 6b · Less rental expenses

    real property $0

  • 6c · Rental income or loss

    real property $269,298

  • 6d · Net rental income or loss

    total $269,298 · excluded $269,298

  • 7a · Gross sales of assets other than inventory

    securities $5,905,610

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

    securities $5,300,294

  • 7c · Gain or loss

    securities $605,316

  • 7d · Net gain or loss

    total $605,316 · excluded $605,316

  • 10a · Gross sales of inventory

    $44,118

  • 10b · Cost of goods sold

    $16,538

  • 10c · Net income from sales of inventory

    total $27,580 · excluded $27,580

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,747,829 · program services $4,747,829

  • 2 · Grants to domestic individuals

    total $258,017 · program services $258,017

  • 5 · Compensation of officers, directors and key employees

    total $215,170 · program services $85,512 · management and general $99,471 · fundraising $30,187

  • 7 · Other salaries and wages

    total $1,068,914 · program services $375,989 · management and general $531,597 · fundraising $161,328

  • 9 · Other employee benefits

    total $855 · program services $340 · management and general $395 · fundraising $120

  • 10 · Payroll taxes

    total $2,864 · program services $1,138 · management and general $1,324 · fundraising $402

  • 11b · Fees: legal

    total $22,984 · program services $22,984

  • 11c · Fees: accounting

    total $40,204 · program services $40,204

  • 11e · Fees: professional fundraising services

    total $233,957 · fundraising $233,957

  • 11f · Fees: investment management

    total $70,731 · management and general $70,731

  • 11g · Fees: other

    total $26,653 · program services $26,653

  • 12 · Advertising and promotion

    total $150 · program services $150

  • 13 · Office expenses

    total $118,874 · program services $118,822 · fundraising $52

  • 14 · Information technology

    total $111,576 · program services $102,889 · management and general $2,029 · fundraising $6,658

  • 16 · Occupancy

    total $18,802 · program services $18,802

  • 17 · Travel

    total $43,936 · program services $23,594 · fundraising $20,342

  • 19 · Conferences, conventions and meetings

    total $77,222 · program services $77,222

  • 22 · Depreciation, depletion and amortization

    total $186,343 · program services $185,674 · management and general $223 · fundraising $446

  • 23 · Insurance

    total $22,225 · program services $22,225

  • 24a · Other expenses: BAD DEBT EXPENSE

    total $9,801 · management and general $9,801

  • 24b · Other expenses: MISCELLANEOUS

    total $6,313 · program services $6,313

  • 24c · Other expenses: MISC FUNDRAISING EXPENS

    total $5,901 · fundraising $5,901

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $31 · end of year $31

  • 2 · Savings and temporary cash investments

    beginning of year $4,829,552 · end of year $5,097,265

  • 3 · Pledges and grants receivable

    beginning of year $2,349,557 · end of year $2,649,878

  • 4 · Accounts receivable

    beginning of year $6,302 · end of year $7,710

  • 7 · Other notes and loans receivable

    end of year $750,000

  • 9 · Prepaid expenses and deferred charges

    end of year $26,482

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

    $5,705,305

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

    $3,730,647

  • 10c · Land, buildings and equipment, net

    beginning of year $2,152,694 · end of year $1,974,658

  • 11 · Investments: publicly traded securities

    beginning of year $24,119,306 · end of year $25,238,307

  • 17 · Accounts payable and accrued expenses

    beginning of year $175,160 · end of year $27,590

  • 25 · Other liabilities

    beginning of year $705,521 · end of year $1,034,349

  • 27 · Net assets without donor restrictions

    beginning of year $8,008,408 · end of year $7,608,725

  • 28 · Net assets with donor restrictions

    beginning of year $24,568,353 · end of year $27,073,667

Mission and programs · 2023

Mission

THE PRINCIPAL PURPOSE OF THE ORGANIZATION, HEREINAFTER REFERRED TO AS THE FOUNDATION, SHALL BE TO FOSTER THE CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL PURPOSES OF BETA THETA PI.

Activities or mission (Part I)

THE PURPOSE OF THE FOUNDATION IS TO FUND THE EDUCATIONAL MISSION OF BETA THETA PI FRATERNITY.

  • THE ORGANIZATION PROVIDES EDUCATIONAL GRANTS TO ORGANIZATIONS THAT FURTHER THE FOUNDATION'S MISSION, AS WELL AS PROVIDE TUITION SCHOLARSHIPS TO INDIVIDUALS ATTENDING INSTITUTIONS OF HIGHER EDUCATION IN NORTH AMERICA.

    Expenses $3,715,869 · Grants $2,607,358

  • Withheld by Nonprofiteer: this text may name a private individual.

    Expenses $258,017 · Grants $258,017

  • DESIGNATED EDUCATIONAL AREA GRANTS ARE AVAILABLE FROM RESTRICTED CHAPTER FUNDS AND CAN COVER THE COST OF CONSTRUCTION OR RENOVATION OF EDUCATIONAL AREAS IN THE CHAPTER HOUSE SUCH AS THE LIBRARY, STUDY ROOM, COMPUTER ROOM, AS WELL AS EDUCATIONAL FURNISHINGS, INCLUDING COMPUTER EQUIPMENT AND INTERNET ACCESS. OPERATIONAL GRANTS ARE ALSO AVAILABLE FROM RESTRICTED CHAPTER FUNDS IN SUBSEQUENT YEARS TO COVER THE EXPENSES RELATED TO OPERATING THESE EDUCATIONAL AREAS ANNUALLY

    Expenses $2,140,471 · Grants $2,140,471

As filed on the 2023 return. A text marked withheld matched a screen for wording that may name a private individual, such as an honorific or "in memory of". Most of what it withholds names no one; it is withheld so that what does is never shown.

Listed in Part VII

  • RICHARD W BANKS

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    2

  • RANDALL D GROVES

    TREASURER

    Total calculated
    $0
    Hours/week
    2

  • STAVAN R BHATT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MICHAEL ALLEN BICKFORD

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ARTHUR C CARMICHAEL JR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KARL CHIAO

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • PETER DARROW

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JEFFREY M FLANAGAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • SCOTT E GROTJAN

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ZACHARY T HAINES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • KENT R MIRE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARTIN E OBST

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • THOMAS C OLVER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • R THOMAS REEVES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • RICHARD A SABOL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOHN W TORGET

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • BRUCE J WENGER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • AUSTIN MARPLE BEG 1223

    CHIEF FINANCIAL OFFICER

    Total calculated
    $26,632
    From this org
    $0
    From related orgs
    $25,608
    Other
    $1,024
    Hours/week
    10 + 30 related

  • JEFF RUNDLE

    CHIEF EXECUTIVE OFFICER

    Total calculated
    $295,883
    From this org
    $0
    From related orgs
    $234,141
    Other
    $61,742
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $234,141 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $17,700 related
    Nontaxable benefits
    $0 + $44,042 related
    Filer's total
    $0 + $295,883 related

  • URI ORMSBY END 1223

    CHIEF FINANCIAL OFFICER

    Total calculated
    $159,053
    From this org
    $0
    From related orgs
    $103,769
    Other
    $55,284
    Hours/week
    10 + 30 related

    Schedule J breakdown matched by us

    Base
    $0 + $103,769 related
    Bonus
    $0
    Other
    $0
    Deferred
    $0 + $10,823 related
    Nontaxable benefits
    $0 + $44,461 related
    Filer's total
    $0 + $159,053 related

  • PHIL FERNANDEZ

    CHIEF FOUNDATION OFFICER

    Total calculated
    $203,044
    From this org
    $0
    From related orgs
    $142,468
    Other
    $60,576
    Hours/week
    36 + 4 related

    Schedule J breakdown matched by us

    Base
    $0 + $136,968 related
    Bonus
    $0 + $5,500 related
    Other
    $0
    Deferred
    $0 + $14,857 related
    Nontaxable benefits
    $0 + $45,719 related
    Filer's total
    $0 + $203,044 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

  • 5b · Pay contingent on a related organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this 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 3
COMPENSATION IS PAID BY A RELATED ORGANIZATION, BETA THETA PI FRATERNITY. THE BOARD OF TRUSTEES OF THE BETA THETA PI FRATERNITY, THROUGH THE GENERAL SECRETARY, CONDUCTED AN ANNUAL PERFORMANCE AND COMPENSATION REVIEW FOR THE CEO BASED UPON THE TERMS OF THE CEO'S EMPLOYMENT CONTRACT. THE TRUSTEES REVIEWING THE EXECUTIVE COMPENSATION WERE NOT RELATED TO ANY OTHER TRUSTEE OR EXECUTIVE BY FAMILY OF BUSINESS CONNECTION. BOARD LEADERSHIP ANNUALLY REVIEWS OTHER PEER ORGANIZATIONS 990'S TO DETERMINE COMPENSATION FOR THE CEO.
PART I, LINE 5
THE PERCENTAGE OF THE CEO'S BONUS IS DETERMINED BASED UPON HIS ANNUAL PERFORMANCE AGAINST STATED STRATEGIC, OPERATIONAL AND FINANCIAL GOALS ACROSS THE ASSOCIATED ENTITIES. PROGRESS AGAINST THOSE GOALS IS ASSESSED DURING HIS ANNUAL REVIEW WITH THE FRATERNITY TRUSTEES.

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

The 10 largest by cash amount. The API serves every itemized grant.

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
27 March 2025
IRS schema version
2023v6.0
Source object
202530879349301203

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

The source document this was parsed from is served over the API, which is where bulk and document access live.