Overview
What is Beta Psi Foundation Inc?
Beta Psi Foundation Inc, located in Atlanta, Georgia, is a nonprofit organization with a mission to award scholarships to undergraduate members of the Beta Psi Chapter of the Sigma Chi Fraternity. Based on academic excellence, leadership skills, or financial need, they provide financial assistance and offer scholastic and leadership-related training programs to support their development. In 2022, the foundation awarded 36,700 in scholarships and organized a recognition dinner, generating a net gain of 3,971. Additionally, they coordinated a leadership workshop for undergraduate members at a cost of 24,010. Non-program expenses for 2022 totaled 41,083.
Official website here: www.betapsi.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Stars)
The Beta Psi Foundation Inc has received a Three-Star rating from Charity Navigator, indicating a solid performance in accountability and finance. The organization boasts a high percentage of independent board members and maintains a favorable liabilities-to-assets ratio, reflecting strong financial health. Additionally, it has successfully listed its website and tax form on its nonprofit documentation, which contributes to its transparency.
However, the foundation does have some limitations noted in its governance practices. It is missing crucial policies such as a whistleblower policy and a document retention and destruction policy, which could be areas for improvement. These gaps may affect the organization's overall governance framework and could raise concerns for potential donors regarding its risk management.
Despite these limitations, the organization allocates a significant portion of its expenses to programs, with a program expense ratio of over 67%, demonstrating its commitment to fulfilling its mission. The combination of strong financial health and a significant investment in programs makes the Beta Psi Foundation Inc a commendable choice for supporters looking to contribute to a transparent and accountable nonprofit.
This AI summary has been generated from information found on Charity Navigator.
Is Beta Psi Foundation Inc legitimate?
Beta Psi Foundation Inc is a legitimate nonprofit organization registered as a 501(c)(3) entity. Beta Psi Foundation Inc submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
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Official website here: www.betapsi.org
What is the mission statement of Beta Psi Foundation Inc?
The Beta Psi Foundation Inc's mission is centered around providing scholarship awards to members of the Beta Psi Chapter of the Sigma Chi Fraternity. This is based on their academic achievements, leadership abilities, or financial needs. The foundation's goal is to support their development further by offering scholastic and leadership-related training programs and facilities. By doing so, the foundation aims to provide these individuals with the best possible foundation, setting them up for success in their future endeavors.
Official website here: www.betapsi.org
What is the revenue of Beta Psi Foundation Inc?
Beta Psi Foundation Inc's revenue in 2023 was $225,536.
Official website here: www.betapsi.org
Who are the executives of Beta Psi Foundation Inc and what are their salaries?
There 21 volunteers at Beta Psi Foundation Inc.
Here are 21 key members and their salaries:
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Official website here: www.betapsi.org
Where can I find the form 990 for Beta Psi Foundation Inc?
Beta Psi Foundation Inc's most recent form 990 was submitted in 2023 and can be accessed here.
Official website here: www.betapsi.org
Learn more at the official website: www.betapsi.org
Mission Statement of Beta Psi Foundation Inc
Beta Psi Foundation Inc, dedicated to supporting the brothers and pledges of the Beta Psi Chapter of the Sigma Chi Fraternity, aims to provide scholarship awards based on three key factors: scholastic achievement, leadership achievement, and financial need. The foundation's mission is not just about distributing financial aid but also about nurturing the recipients' growth. To achieve this, Beta Psi Foundation Inc offers scholastic and leadership-related training programs and facilities. By doing so, the organization seeks to provide these individuals with the best possible foundation for their future success.
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Impact
October, 2024
Beta Psi Foundation Inc significantly impacts the academic and leadership development of its members by providing scholarship awards to brothers and pledges of the Beta Psi Chapter of Sigma Chi Fraternity. In 2022, the foundation awarded a total of $36,700 in scholarships, fostering a culture of academic excellence among undergraduate students at Georgia Tech.
The foundation goes beyond financial support by organizing recognition events, such as a dinner honoring scholarship recipients, which creates a sense of community and encourages continued achievement. Additionally, the foundation invested in a leadership workshop for undergraduate members, demonstrating a commitment to cultivating leadership skills alongside academic success.
Overall, Beta Psi Foundation Inc plays a vital role in equipping its members with essential resources and opportunities, laying a robust foundation for their future endeavors both academically and personally.
This information is meant to be a general summary of Beta Psi Foundation Inc. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2023.
- Investment Income: $10,409
- Gross Receipts: $351,804
Assets and Liabilities:
- Total Assets: $1,959,357
- Total Liabilities: $6,625
- Net Assets: $1,952,732
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Organization Details
Founding Year
2004
Principal Officer
Joe Kinsey
Website
www.betapsi.orgNTEE Category
Code: B82 - Education
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