Phi Beta Kappa Society

Analysis

Phi Beta Kappa Society is a registered charity in United States, based in Houston, TX. It received its IRS tax-exemption ruling in June 1951, 75 years ago. The IRS classifies it as a publicly supported organisation (gross receipts test) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2023, Phi Beta Kappa Society reported income of $302k and spending of $358k, spending 119% of what it took in. Across the 5 years on record, from June 2019 to June 2023, income fell from $359k to $302k (-16%), an average of -4.3% a year. The sharpest change came in the year to June 2021, when income rose by 58%. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Phi Beta Kappa Society sits at the 60th percentile: it is larger than about 60% of them. Against every charity in United States with reported income it ranks in the 62nd percentile, and in the 66th percentile within TX. Charities of a similar size with the same main cause include Armed Forces Communications and Electronics Association ($302k), American Planning Association ($302k) and Islamic American Society of Connecticut ($302k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 61% of the total. At year end it held assets of $3.6m against liabilities of $5,000, net assets of $3.6m.