2024-05-14T13:29:17-07:00 2023-06-30 362716239 Givens & Barnes 200 E Evergreen Ave Ste 117 Mount Prospect IL 60056 990 2022-07-01 231500981 THE GRAND CHAPTER OF PHI SIGMA KAPPA GRAN 3175735420 2925 E 96TH ST INDIANAPOLIS IN 46240 Joseph Kern COO 2024-05-14 true Joseph Kern 999009999 true William J Barnes P00399658 2247642442 3 AAL1 IAL1 FAL1 2022 2023-04-26 12:10:37Z 2925 E 96TH ST INDIANAPOLIS IN 46240 2422534 false X WWW.PHISIGMAKAPPA.ORG X 1959 IN TO CULTIVATE FRATERNAL SPIRIT 7 7 14 100 98765 1012112 1108551 1030806 1036314 30448 26549 179212 244245 2252578 2415659 39884 34356 0 691694 753251 0 0 1311705 1567158 2043283 2354765 209295 60894 1767112 2300163 197107 675977 1570005 1624186 TO CULTIVATE FRATERNAL SPIRIT false false PROMOTE LEADERSHIP AND SCHOLASTIC ACHIEVEMENT, CHAPTER EDUCATION, EXPANSION & SUPPORT THROUGH SPECIAL EVENTS PUBLICATION OF QUARTERLY NEWSLETTER ADMINISTRATION OF NATIONAL LIABILITY PROGRAM FOR ALL PSK UNDERGRADUATES, ALUMNI CLUBS, AND VOLUNTEERS false true false false false false false false false true false false true true true true false false false false false false false false false false false true false false false false false false false false false false false false false false false true 15 0 true 14 true true true false false false false 392221 false false false X 7 7 false false false false true true false true true false true true true true true false true true true true false IN X Joseph Kern 3175735420 2925 E 96TH ST INDIANAPOLIS IN 46240 Joseph Kern Executive Dir. 40.00 10.00 X X 124267 0 0 David L Cohen Grand President 10.00 0.00 X X 0 0 0 Steve Allen Chastain Jr Director 10.00 0.00 X 0 0 0 Jacob Nathaniel Robrt Defassio Director 10.00 0.00 X 0 0 0 Brandon Paternoster Director 10.00 0.00 X 0 0 0 Atif J Elkadi Director 10.00 0.00 X 0 0 0 David Matthew Gregory Director 10.00 0.00 X 0 0 0 Darald H Stubbs Director 10.00 0.00 X 0 0 0 124267 1 false false false 0 879085 229466 1108551 Conclave fees 900099 71157 71157 Registration fees 900099 94552 94552 Risk management fees 900099 870605 870605 1036314 26794 22450 4344 0 0 0 6630 6875 -245 -245 -245 0 0 0 MISCELLANEOUS INCOME 900009 97640 21325 76315 PSK FNDN REIM SERVICES 900009 146605 146605 244245 2415659 1203999 98765 4344 0 34356 0 0 124267 0 483559 17334 76437 51654 0 137921 18155 0 0 0 74672 0 197755 65229 0 75203 26153 0 215953 0 0 18231 440604 Bad debts 97525 OTHER 70678 Printing and Publications 68462 Educational program/products 40424 20193 2354765 0 0 0 247717 305406 807277 812548 0 73829 73874 0 0 0 0 153314 190642 378939 222140 175030 156799 0 0 0 0 309945 760894 1767112 2300163 53723 16026 59827 130435 83557 529516 197107 675977 X 1570005 1624186 1570005 1624186 1767112 2300163 60894 1953 -8666 X X false true X true false RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 146170 26617 119553 232769 195523 37246 156799 Due from related parties 42073 MEMBERSHIP INTEREST-FRMT, LTD 96351 Operating lease right-of-use asset 320432 rESTRICTED INVESTMENTS 302038 760894 ALUMNI AGENCY FUND 4155 Operating lease liability 331878 Risk management contingency 111890 SUSTAINING DUES LIABILITY 81593 529516 X 2417612 1953 1953 2415659 2415659 2354765 2354765 2354765 Part X : FIN48 Footnote THE FRATERNITY IS EXEMPT FROM INCOME TAXES UNDER SECTION 501(C)(7) OF THE INTERNAL REVENUE CODE AND A SIMILAR PROVISION FOR STATE LAW. THE EXEMPTION IS ON ALL INCOME EXCEPT UNRELATED BUSINESS INCOME AS NOTED UNDER SECTION 511 OF THE INTERNAL REVENUE CODE. INTERNAL REVENUE CODE SECTION 513(A) DEFINES AN UNRELATED TRADE OR BUSINESS OF AN EXEMPT ORGANIZATION AS ANY TRADE OR BUSINESS WHICH IS NOT SUBSTANTIALLY RELATED TO THE EXERCISE OR PERFORMANCE OF ITS EXEMPT PURPOSE. CERTAIN NONMEMBER INCOME, THAT WOULD OTHERWISE BE TAXABLE, MAY BE SET ASIDE. ANY INCOME THAT THE GRAND COUNCIL HAS PROPERLY SET ASIDE MUST BE USED FOR THE QUALIFYING PURPOSES IN THE SET ASIDE RESOLUTION.THE FRATERNITY FILES TAX RETURNS IN THE US FEDERAL AND STATE OF INDIANA TAX JURISTICTIONS. WITH FEW EXCEPTIONS, THE FRATERNITY IS NO LONGER SUBJECT TO US FEDERAL AND STATE EXEMINATIONS BY TAX ATHORITIES FOR YEARS BEFORE 2019. THE FRATERNITY HAS EVALUATED TAX POSITIONS TAKEN IN THE TAX RETURNS FILED AND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AS DESCRIBED BT GENERALLY ACCEPTED ACCOUNTING PRINCIPLES. true 0 0 Wenderoth Scholarships 2 7500 Terrill Scholarships 2 15000 Matching Grants 11 1200 Good Samaritan Grants 11 10656 Grantmaker's Description of How Grants are Used MEMBERS GO THROUGH A FORMAL APPLICATION PROCESS. A COMMITTEE SELECTS THE INDIVIDUAL BASED ON VARIOUS CRITERIA. THE ORGANIZATION MONITORS THE AWARDS BY CONFIRMING THE RECIPIENT IS ATTENDING THE UNIVERSITY FOR THE SEMESTERS FOR WHICH THE GRANT WAS AWARDED. Form 990, Part VI, Section A, Line 6 THE ORGANIZATION HAS MEMBERS THAT CONSIST OF COLLEGE STUDENTS AND ALUMNI. Form 990, Part VI, Section B, Line 11b THE FORM 990 IS REVIEWED WITH THE CHIEF OPERATING OFFICER AND THE CONTRACTED ACCOUNTANT PRIOR TO THE CHIEF OPERATING OFFICER SENDING AN ELECTRONIC COPY TO THE BOARD. THE BOARD IS INSTRUCTED TO REVIEW THE 990 AND ASK QUESTIONS. AFTER FIVE WORKING DAYS, IT IS ASSUMED THAT ALL ARE IN FAVOR AND THE 990 IS OFFICIALLY SUBMITTED. Form 990, Part VI, Section B, Line 15a THE COMPENSATION COMMITTEE CONDUCTS AN ANNUAL REVIEW OF CHIEF OPERATING OFFICER'S PERFORMANCE AND THE OVERALL STRUCTURE/BUDGET FOR ALL EMPLOYEES AND PRESENTS TO ALL BOARD MEMBERS. COMPARABLE DATA IS GATHERED WHEN AVAILABLE AND PRESENTED TO THE BOARD FOR CONSIDERATION. Form 990, Part VI, Section C, Line 19 THE PHI SIGMA KAPPA FRATERNITY'S GOVERNING DOCUMENTS ARE MADE AVAILABLE TO THE PUBLIC BY WRITTEN REQUEST. Form 990, Part XII, Line 2c THE PROCESS REMAINS UNCHANGED FROM PRIOR YEAR.