Phi Theta Kappa

Analysis

Phi Theta Kappa is a registered charity in United States, based in Jackson, MS. It received its IRS tax-exemption ruling in September 1956, 70 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 December 2023, Phi Theta Kappa reported income of $15.3m and spending of $16.2m, spending 106% of what it took in. Across the 5 years on record, from December 2019 to December 2023, income fell from $15.4m to $15.3m (-0.5%), an average of -0.1% a year. Over the whole period it spent 85% of the income it received.

Among 72,936 United States charities whose main cause is other charitable purposes and that reported income, Phi Theta Kappa sits at the 97th percentile: it is larger than about 97% of them. Against every charity in United States with reported income it ranks in the 96th percentile, and in the 97th percentile within MS. Charities of a similar size with the same main cause include Shared Magnetic Resonance Imaging Facility Inc ($15.3m), J G B Rehabilitation Corp ($15.3m) and Meals on Wheels San Antonio ($15.3m).

On its Form 990 for the period ending December 2023, revenue came from contributions and grants 14% and program service revenue 69% of the total. Compensation of current officers, directors and key employees was $582k (3.6% of expenses). Other salaries and wages came to $3.7m. At year end it held assets of $29.4m against liabilities of $2.4m, net assets of $27.1m. It reported 86 employees.