Totals
- Total revenue
- $1,550,944
- Total expenses
- $1,144,665
- Contributions and grants received
- $271,357
- Grants paid
- $37,670
- Program service revenue
- $1,272,471
- Investment income
- $7,116
- Other revenue
- $0
- Total assets, end of year
- $1,150,758
- Total liabilities, end of year
- $59,465
- Net assets or fund balances, end of year
- $1,091,293
- Program services expenses (Part IX)
- $820,451
- Management and general expenses
- $219,397
- Fundraising expenses
- $104,817
- Program service expenses (Part III)
- $820,451
Program services were 71.7% 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.
-
1f · All other contributions, gifts and grants
$271,357
-
2a · Program service revenue: PARTNER DUES
total $1,124,850 · related or exempt $1,124,850
-
2b · Program service revenue: CHAPTER MEMBERSHIP DUE
total $76,825 · related or exempt $76,825
-
2c · Program service revenue: CONFERENCES
total $35,182 · related or exempt $35,182
-
2d · Program service revenue: CHAPTER CHARTERING
total $5,000 · related or exempt $5,000
-
2f · All other program service revenue
total $30,614 · related or exempt $30,614
-
3 · Investment income
total $7,116 · excluded $7,116
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $37,670 · program services $37,670
-
5 · Compensation of officers, directors and key employees
total $163,750 · program services $88,143 · management and general $44,600 · fundraising $31,007
-
7 · Other salaries and wages
total $297,214 · program services $159,981 · management and general $80,953 · fundraising $56,280
-
9 · Other employee benefits
total $31,038 · program services $16,707 · management and general $8,454 · fundraising $5,877
-
10 · Payroll taxes
total $35,545 · program services $19,133 · management and general $9,681 · fundraising $6,731
-
11b · Fees: legal
total $525 · management and general $525
-
11c · Fees: accounting
total $42,675 · management and general $42,675
-
11f · Fees: investment management
total $1,724 · management and general $1,724
-
11g · Fees: other
total $12,897 · program services $11,009 · management and general $1,691 · fundraising $197
-
12 · Advertising and promotion
total $6,269 · program services $1,274 · management and general $4,995
-
13 · Office expenses
total $23,403 · program services $15,192 · management and general $7,114 · fundraising $1,097
-
14 · Information technology
total $27,336 · program services $10,068 · management and general $15,653 · fundraising $1,615
-
17 · Travel
total $30,599 · program services $28,853 · management and general $247 · fundraising $1,499
-
19 · Conferences, conventions and meetings
total $425,607 · program services $425,607
-
23 · Insurance
total $5,710 · program services $4,111 · management and general $1,085 · fundraising $514
-
24a · Other expenses: BAD DEBT EXPENSE
total $2,703 · program services $2,703
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
beginning of year $434,496 · end of year $157,961
-
2 · Savings and temporary cash investments
beginning of year $297 · end of year $501,173
-
3 · Pledges and grants receivable
beginning of year $100,000 · end of year $175,000
-
4 · Accounts receivable
beginning of year $57,085 · end of year $67,270
-
9 · Prepaid expenses and deferred charges
beginning of year $0 · end of year $57,155
-
11 · Investments: publicly traded securities
beginning of year $177,167 · end of year $192,199
-
12 · Investments: other securities
beginning of year $42,425
-
17 · Accounts payable and accrued expenses
beginning of year $4,547 · end of year $5,585
-
19 · Deferred revenue
beginning of year $90,000 · end of year $53,880
-
27 · Net assets without donor restrictions
beginning of year $616,923 · end of year $916,293
-
28 · Net assets with donor restrictions
beginning of year $100,000 · end of year $175,000
Mission and programs · 2022
Mission
GAMMA IOTA SIGMA SERVES A MISSION OF PROMOTING AND SUSTAINING STUDENT INTEREST IN CAREERS IN THE INSURANCE, RISK MANAGEMENT, AND ACTUARIAL SCIENCE.
Activities or mission (Part I)
PROMOTE & SUSTAIN COLLEGIATE STUDENT INTEREST IN INSURANCE, RISK MANAGEMENT, & ACTUARIAL SCIENCE.
-
CONFERENCES:GAMMA IOTA SIGMA (GIS) SPONSORS CORE PROGRAMMING INCLUDING THE REGIONAL CONFERENCE SERIES, PIPELINE EVENT, ALLIES IN INSURANCE EVENT, LEADERSHIP SYMPOSIUM, AND THE ANNUAL INTERNATIONAL CONFERENCE. FROM 2021-2023, THE REGIONAL CONFERENCE SERIES REACHED OVER 650 STUDENTS. THE LEADERSHIP SYMPOSIUM BROUGHT IN NEARLY 400-CHAPTER PRESIDENTS AND OFFICERS. THE ANNUAL CONFERENCE REACHED NEARLY 1,500 STUDENTS. THE ALLIES IN INSURANCE EVENT BRINGS STUDENTS AND INDUSTRY TOGETHER TO DISCUSS HOW TO BE AN EFFECTIVE ALLY. THE EVENT ALSO PROVIDES RESOURCES FOR INTERNATIONAL STUDENTS, EMPLOYEE RESOURCE GROUPS, AND MUCH MORE, REACHING HUNDREDS OF STUDENTS OVER THE PAST THREE YEARS.
Expenses $479,852 · Revenue $1,160,032
-
MEMBERSHIP AND CHAPTER OPERATIONS:GAMMA IOTA SIGMA PRODUCES STUDENT NEWSLETTERS, INDUSTRY NEWSLETTERS AND OTHER PUBLICATIONS. IN 2022, CAREER GUIDANCE OFFICE HOURS WERE ADDED AS A RESOURCE ALLOWING BOARD OF TRUSTEES AND ADVISORY COUNCIL MEMBERS THE OPPORTUNITY TO MENTOR STUDENTS ON THEIR CAREER JOURNEYS. THE SPEAKERS BUREAU WAS DEVELOPED AS A RESOURCE FOR CHAPTERS LOOKING FOR INDUSTRY SPEAKERS AND SUBJECT MATTER EXPERTS TO PRESENT TO THEIR CHAPTERS. MINORITY SERVING INSTITUTION ROUNDTABLES WERE IMPLEMENTED AND REACHED UPWARDS OF 25 HBCU'S, HISPANIC SERVING INSTITUTIONS AND COMMUNITY COLLEGES. DEI OFFICERS WERE ADDED TO GIS CHAPTERS AND DIVERSITY, EQUITY, AND INCLUSION WAS PRIORITIZED WITH STUDENT LEADERS THROUGH INCREASED AWARENESS, TRAINING, AND EXPOSURE.
Expenses $340,599 · Grants $37,670 · Revenue $112,439
As filed on the 2022 return.
Listed in Part VII
-
Grace GrantGRACE GRANT
EXECUTIVE DIRECTOR
- Total calculated
- $163,750
- From this org
- $163,750
- From related orgs
- $0
- Other
- $0
- Hours/week
- 40
Schedule J breakdown matched by us
- Base
- $113,775
- Bonus
- $35,000
- Other
- $14,975
- Deferred
- $0
- Nontaxable benefits
- $0
- Filer's total
- $163,750
-
Carrie BusicCARRIE BUSIC
PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Stephen MarohnSTEPHEN MAROHN
IMMEDIATE PAST PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Michael KleinMICHAEL KLEIN
EXECUTIVE VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Brady KelleyBRADY KELLEY
VICE PRESIDENT
- Total calculated
- $0
- Hours/week
- 1
-
Nick AbrahamNICK ABRAHAM
TREASURER
- Total calculated
- $0
- Hours/week
- 1
-
Matt HeimsteadMATT HEIMSTEAD
SECRETARY
- Total calculated
- $0
- Hours/week
- 1
-
Jill BiscoJILL BISCO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Barbara BufkinBARBARA BUFKIN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Stephanie DunstanSTEPHANIE DUNSTAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Will GilchristWILL GILCHRIST
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Michael HawkinsMICHAEL HAWKINS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Florent NdindjockFLORENT NDINDJOCK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
John SmithJOHN SMITH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Zane SmithZANE SMITH
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
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
- 3 · Compensation committee
- 3 · Approval by the board or compensation committee
- 6a · Pay contingent on this organization's net earnings
- 7 · Other non-fixed payments
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
- 5b · Pay contingent on a related organization's revenues
- 6b · Pay contingent on a related organization's net earnings
- 8 · Paid under the initial-contract exception
The filer's explanations (Part III)
- PART I, LINE 6
- THE EXECUTIVE DIRECTOR'S ANNUAL BONUS, AS DESCRIBED IN LINE 7, IS CONTINGENT UPON MEETING PRESCRIBED FUNDRAISING TARGETS. IF THOSE TARGETS ARE NOT MET, NO BONUS IS PAID.
- PART I, LINE 7
- THE EXECUTIVE DIRECTOR IS ELIGIBLE TO RECEIVE AN ANNUAL MERIT-BASED BONUS AS DETERMINED BY THE COMPENSATION COMMITTEE AND REVIEWED/APPROVED BY THE EXECUTIVE COMMITTEE.
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
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 15 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202343199349311014
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