Phi Beta Kappa Foundation

Analysis

Phi Beta Kappa Foundation is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in August 1928, 98 years ago. The IRS classifies it as a supporting organisation under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending July 2023, Phi Beta Kappa Foundation reported income of $3.2m and spending of $635k, leaving 80% of income unspent that year. Across the 5 years on record, from July 2019 to July 2023, income grew from $677k to $3.2m (+366%), an average of +47% a year. The sharpest change came in the year to July 2021, when income rose by 620%. Over the whole period it spent 51% 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 Foundation sits at the 89th percentile: it is larger than about 89% of them. Against every charity in United States with reported income it ranks in the 89th percentile, and in the 74th percentile within DC. Charities of a similar size with the same main cause include Twin Pines Housing Trust ($3.2m), United States Luge Association Inc ($3.2m) and Texoma Area Paratransit System Inc ($3.2m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 57% of the total. Compensation of current officers, directors and key employees was $17k (2.6% of expenses). Other salaries and wages came to $30k. At year end it held assets of $46.7m against liabilities of $1.3m, net assets of $45.4m.