The Endowment Fund of the Phi Kappa Psi Fraternity

Analysis

The Endowment Fund of the Phi Kappa Psi Fraternity is a registered charity in United States, based in Indianapolis, IN. It received its IRS tax-exemption ruling in October 1988, 38 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending December 2023, The Endowment Fund of the Phi Kappa Psi Fraternity reported income of $61.6m and spending of $5.2m, leaving 92% of income unspent that year. Across the 5 years on record, from December 2019 to December 2023, income grew from $4.0m to $61.6m (+1426%), an average of +98% a year. The sharpest change came in the year to December 2023, when income rose by 566%. Over the whole period it spent 34% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, The Endowment Fund of the Phi Kappa Psi Fraternity sits at the 99th percentile: it is larger than about 98% of them. Against every charity in United States with reported income it ranks in the 99th percentile, and in the 99th percentile within IN. Charities of a similar size with the same main cause include Berkeley-Carroll Street School ($61.4m), The Public School of Germantown ($61.7m) and Campanile Foundation ($61.4m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 4.2% and program service revenue 0.2% of the total. Compensation of current officers, directors and key employees was $516k (10% of expenses). Other salaries and wages came to $780k. At year end it held assets of $77.2m against liabilities of $841k, net assets of $76.4m. It reported 24 employees.