Sigma Phi Lambda Inc

Analysis

Sigma Phi Lambda Inc is a registered charity in United States, based in Corinth, TX. It received its IRS tax-exemption ruling in July 2004, 22 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 May 2023, Sigma Phi Lambda Inc reported income of $159k and spending of $173k, spending 109% of what it took in. Across the 5 years on record, from May 2019 to May 2023, income fell from $173k to $159k (-8.5%), an average of -2.2% a year. The sharpest change came in the year to May 2022, when income dropped by 24%. Over the whole period it spent 102% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Sigma Phi Lambda Inc sits at the 50th percentile: it is larger than about 50% of them. Against every charity in United States with reported income it ranks in the 48th percentile, and in the 52nd percentile within TX. Charities of a similar size with the same main cause include Country Lane Home & School Club ($159k), Smith County High School Owls Quarterback Club Inc ($159k) and Lower Manhattan Community Middle School PTA ($158k).

On its Form 990-EZ for the period ending May 2023, revenue came from contributions and grants 88% and program service revenue 15% of the total. At year end it held assets of $124k against liabilities of $1,360, net assets of $123k.