Phi Beta Kappa Society

Analysis

Phi Beta Kappa Society is a registered charity in United States, based in Washington, DC. It received its IRS tax-exemption ruling in June 1951, 75 years ago. 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 July 2023, Phi Beta Kappa Society reported income of $5.2m and spending of $6.5m, spending 126% of what it took in. Across the 5 years on record, from July 2019 to July 2023, income fell from $6.9m to $5.2m (-25%), an average of -7.0% a year. The sharpest change came in the year to July 2023, when income dropped by 21%. Over the whole period it spent 100% 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 92nd percentile: it is larger than about 92% of them. Against every charity in United States with reported income it ranks in the 92nd percentile, and in the 80th percentile within DC. Charities of a similar size with the same main cause include Northwest College Foundation ($5.2m), Catholic Charities Foundation ($5.2m) and Institute for the Development of Young Leaders ($5.2m).

On its Form 990 for the period ending July 2023, revenue came from contributions and grants 66% and program service revenue 31% of the total. Compensation of current officers, directors and key employees was $557k (8.5% of expenses). Other salaries and wages came to $1.8m. At year end it held assets of $3.5m against liabilities of $1.5m, net assets of $2.0m. It reported 26 employees.