Overview
What is Phi Sigma Kappa?
Phi Sigma Kappa is a nonprofit organization, specifically dedicated to supporting the Colony of Phi Sigma Kappa at RPI, a chapter of the national fraternity, based in Troy, New York. The primary mission of this organization is to purchase, lease, maintain, and manage a fraternity house for the chapter's benefit. This ensures the long-term viability of the chapter and fosters ongoing social interactions among its alumni. To achieve this, Phi Sigma Kappa assumes various expenses such as property taxes, utilities, insurance, and maintenance. The organization also provides financial assistance to the chapter by reducing its rent, with a portion of the excess funds being allocated to house maintenance and a self-insurance quasi-endowment fund.
Is Phi Sigma Kappa legitimate?
Phi Sigma Kappa is a legitimate nonprofit organization registered as a 501(c)(7) entity. Phi Sigma Kappa 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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What is the mission statement of Phi Sigma Kappa?
Phi Sigma Kappa, as an organization, has a mission to support its chapter at RPI in Troy, NY, which is part of the national Phi Sigma Kappa fraternity. The primary objective is to maintain a fraternity house for the chapter's use. Additionally, the organization aims to ensure the chapter's long-term viability and foster ongoing goodwill among its alumni. Beyond this, Phi Sigma Kappa seeks to promote the welfare of its alumni and members, encouraging friendship, loyalty, and intellectual advancement among its members. The organization also has the authority to acquire, lease, maintain, and utilize real property, and construct or repair buildings for its benefit.
Who is the CEO of Phi Sigma Kappa?
Paul Marano is the President of Phi Sigma Kappa.
What is the revenue of Phi Sigma Kappa?
Phi Sigma Kappa's revenue in 2022 was $111,050.
Who are the executives of Phi Sigma Kappa and what are their salaries?
There 3 volunteers at Phi Sigma Kappa.
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Where can I find the form 990 for Phi Sigma Kappa?
Phi Sigma Kappa's most recent form 990 was submitted in 2022 and can be accessed here.
Mission Statement of Phi Sigma Kappa
Phi Sigma Kappa, as a mission-driven organization, is committed to several key objectives. Primarily, it aims to secure a fraternity house for the Colony of Phi Sigma Kappa at RPI in Troy, NY, which is a chapter of the national Phi Sigma Kappa fraternity. This endeavor is aimed at ensuring the long-term sustainability of the chapter and fostering a sense of camaraderie among its members.
Beyond this, Phi Sigma Kappa's mission extends to the promotion of the well-being of its alumni and current members. It seeks to establish and maintain real property, constructing or repairing buildings for the benefit of the corporation and the chapter. This commitment to property ownership is coupled with an emphasis on friendship and intellectual growth. Phi Sigma Kappa strives to foster a strong bond among its members, instilling in them a deep sense of loyalty to one another. Furthermore, the organization is dedicated to stimulating the intellectual advancement of its members, providing them with an environment that encourages personal and collective growth.
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Impact
October, 2024
Phi Sigma Kappa significantly enhances the communal and academic experience for its members at RPI in Troy, NY. By maintaining a dedicated fraternity house, it provides a stable environment for the Colony of Phi Sigma Kappa, fostering friendship and loyalty among its members. This physical space acts as a gathering point, promoting social interactions and strengthening bonds within the fraternity.
Furthermore, the organization plays a crucial role in the long-term viability of the chapter by ensuring the house is well-maintained and equipped for its members' needs. This commitment extends to fostering goodwill among alumni, who can maintain a connection to the fraternity through events and gatherings in a familiar setting.
Through strategic financial management, including a rent structure that supports essential services and a quasi-endowment fund for self-insurance, Phi Sigma Kappa actively contributes to the chapter's sustainability. Grants, in the form of rent reductions, not only alleviate financial burdens but also reinforce the fraternity’s support system for its members. This holistic approach to fraternity life promotes intellectual advancement, camaraderie, and a sense of belonging that enriches the overall collegiate experience.
This information is meant to be a general summary of Phi Sigma Kappa. 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 2022.
- Investment Income: $75,850
- Program Service Revenue: $35,200
- Gross Receipts: $111,050
Assets and Liabilities:
- Total Assets: $1,072,153
- Total Liabilities: $24,816
- Net Assets: $1,047,337
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Programs
Programs are reported by nonprofits in their tax forms and are normally their tax-exempt activities.
Rent from Fraternity Chapter
Revenue
$35,200
Organization Details
Founding Year
1954
Phone
(860) 595-9125Principal Officer
Paul Marano
Main Address
PO Box 1379, Troy, NY, 121811379
NTEE Category
Code: B83 - Education
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