Psi Chi the International Honor Society in Psychology

Analysis

Psi Chi the International Honor Society in Psychology is a registered charity in United States, based in Chattanooga, TN. It received its IRS tax-exemption ruling in December 1957, 69 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, Psi Chi the International Honor Society in Psychology reported income of $1.8m and spending of $2.3m, spending 130% of what it took in. Across the 4 years on record, from June 2020 to June 2023, income grew from $1.6m to $1.8m (+13%), an average of +4.2% a year. The sharpest change came in the year to June 2021, when income rose by 45%. Over the whole period it spent 112% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Psi Chi the International Honor Society in Psychology sits at the 84th percentile: it is larger than about 84% of them. Against every charity in United States with reported income it ranks in the 85th percentile, and in the 86th percentile within TN. Charities of a similar size with the same main cause include Boys and Girls Club of Bay County Inc ($1.8m), Kipp South Florida Educational Facilities Inc ($1.8m) and Christopher Coffland Memorial Fund Inc ($1.8m).

On its Form 990 for the period ending June 2023, revenue came from contributions and grants 1.6% and program service revenue 71% of the total. Compensation of current officers, directors and key employees was $178k (7.8% of expenses). Other salaries and wages came to $819k. At year end it held assets of $5.0m against liabilities of $618k, net assets of $4.4m. It reported 18 employees.