Sigma Alpha Iota Philanthropies Inc

Analysis

Sigma Alpha Iota Philanthropies Inc is a registered charity in United States, based in Asheville, NC. It received its IRS tax-exemption ruling in February 1975, 51 years ago. Its declared purposes cover arts, culture and humanities, which this site groups under arts, culture, heritage and science. 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, Sigma Alpha Iota Philanthropies Inc reported income of $619k and spending of $489k, leaving 21% of income unspent that year. Across the 5 years on record, from June 2019 to June 2023, income fell from $648k to $619k (-4.4%), an average of -1.1% a year. The sharpest change came in the year to June 2021, when income rose by 164%. Over the whole period it spent 72% of the income it received.

Among 45,478 United States charities whose main cause is arts, culture, heritage and science and that reported income, Sigma Alpha Iota Philanthropies Inc sits at the 80th percentile: it is larger than about 80% of them. Against every charity in United States with reported income it ranks in the 73rd percentile, and in the 73rd percentile within NC. Charities of a similar size with the same main cause include Allegany County Historical Society Inc ($619k), L-Alliance Francaise de Texas du Nord Inc ($619k) and Lyric Theatre Company ($619k).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 52% and program service revenue 0.1% of the total. Compensation of current officers, directors and key employees was $4,400 (0.9% of expenses). At year end it held assets of $5.7m against liabilities of $43k, net assets of $5.7m.