THE ENDOWMENT FUND OF THE PHI KAPPA PSI FRATERNITY

EIN: 366130655 501(c)(3) Education

INDIANAPOLIS, IN

Total Revenue
$61,569,718
Total Expenses
$5,160,954
Total Assets
$77,216,082
Net Assets
$76,375,123
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Financial Trends

Organization Details

Formation Year
1922
Legal Domicile
IL
Principal Officer
BENJAMIN S M NICOL
Phone
3172753400
Tax Period
2023-01-01 to 2023-12-31

THE ENDOWMENT FUND OF THE PHI KAPPA PSI FRATERNITY, founded in 1922, is a mid-sized nonprofit in the Education sector that reported $61.6M in total revenue in fiscal year 2023. Revenue surged 566% from the prior year, signaling strong growth momentum. The organization ran a surplus of $56.4M, a strong 92% operating margin.

Mission

TO FOSTER THE DEVELOPMENT OF LEADERS AND TO PROMOTE ACADEMIC EXCELLENCE IN HIGHER EDUCATION BY PROVIDING STUDENTS WITH SCHOLARSHIPS AND AWARDS AND BY SUPPORTING EDUCATIONAL PROJECTS AND PROGRAMS FOR THEIR BENEFIT.

Program Service Accomplishments

Program 1
Expenses: $2,248,794 Revenue: $103,579

THE ENDOWMENT FUND HAS A DISTINGUISHED HISTORY OF FUNDING PROGRAMS WHICH SET THE STANDARD AS SOME OF THE MOST FORWARD-LOOKING LEADERSHIP AND EDUCATIONAL PROGRAMS AVAILABLE TO TODAY'S COLLEGIANS...

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THE ENDOWMENT FUND HAS A DISTINGUISHED HISTORY OF FUNDING PROGRAMS WHICH SET THE STANDARD AS SOME OF THE MOST FORWARD-LOOKING LEADERSHIP AND EDUCATIONAL PROGRAMS AVAILABLE TO TODAY'S COLLEGIANS. THROUGH ASSEMBLING THE BEST MINDS IN LEADERSHIP DEVELOPMENT, SUBSTANCE ABUSE PREVENTION AND VALUES EDUCATION TRAINING, PHI PSI OFFERS ITS YOUNGEST MEMBERS FORMATIVE EXPERIENCES THAT THEY OTHERWISE WOULD NOT HAVE. THE ENDOWMENT FUND'S COMMITMENT TO EDUCATION AND A WELL-ROUNDED COLLEGE EXPERIENCE IS EVIDENT THROUGH GRANTS TO HELP IMPROVE EDUCATION AND TECHNOLOGY RESOURCES IN CHAPTER HOUSES, LEADERSHIP FELLOWSHIPS, FUNDING OF THE NELSON LEADERSHIP INSTITUTE, PHI PSI'S PROGRAMMING ARM, AS WELL AS NATIONAL AND CHAPTER SCHOLARSHIP OFFERINGS AND GENERAL ASSISTANCE IN COUNSELING RELATED TO EDUCATIONAL ENDEAVORS. PHI PSI'S PROGRAMMING MODEL, INCLUDING OFFERINGS AND DELIVERY, CENTER ON NINE FUNDAMENTALS THAT ARE ORGANIZED BY MIND, HEART, AND SOUL. 1. INTELLECTUAL HEALTH - IDENTIFY CREATIVE ABILITIES AND CONTINUALLY ENGAGE IN ACTIVITIES THAT EXPAND KNOWLEDGE AND SKILLS 2. OCCUPATIONAL HEALTH - SEEK A CAREER THAT IS FULFILLING, MEANINGFUL, AND CONTRIBUTES TO THE BROADER SOCIETY, AND FOLLOW A PLAN TOWARD THAT OUTCOME 3. FINANCIAL HEALTH - UNDERSTAND THEIR CURRENT FINANCIAL SITUATION AND HOW TO BUILD CONFIDENCE REGARDING THEIR FINANCIAL FUTURE 4. PHYSICAL HEALTH - UNDERSTAND THE IMPORTANCE OF PHYSICAL ACTIVITY, NUTRITION, AND SLEEP AND HOW TO INCORPORATE THOSE HABITS INTO A DAILY ROUTINE 5. ENVIRONMENTAL HEALTH - BE AWARE OF THE INTERACTIONS BETWEEN THE ENVIRONMENT, COMMUNITY, AND SELF AND BEHAVE IN WAYS THAT RESPONSIBLY CARE FOR EACH OF THESE 6. EMOTIONAL HEALTH - HAVE SELF-AWARENESS OF EMOTIONAL HIGHS AND LOWS AND UNDERSTAND HOW TO WORK THROUGH THEM TO EFFECTIVELY COPE WITH LIFE'S SITUATIONS 7. SPIRITUAL HEALTH - IDENTIFY CORE BELIEFS, VALUES, AND ETHICS AND LIVE LIFE ACCORDING TO THOSE PRINCIPLES 8. SOCIAL HEALTH - PRACTICE REFLECTION OF ONESELF, PERSONALITY, AND CHARACTER AND CURATE A NETWORK THAT PROVIDES A SENSE OF BELONGING AND CONNECTION 9. CULTURAL HEALTH - REFLECT UPON YOUR PERSONAL ATTITUDES AND BELIEFS REGARDING CULTURAL DIFFERENCE AND SEEK TO UNDERSTAND OTHER CULTURES, PRACTICES, AND WORLDVIEWS PUT VERY SIMPLY, THE PHI PSI PROGRAMMING APPROACH IS ROOTED IN PHI PSI'S RITUAL AND OUR CREED. THE CLASSROOM CAN FALL SHORT IN DEVELOPING THE PERSONAL AND PROFESSIONAL SKILLS BOTH DESIRED BY EMPLOYERS AND NECESSARY TO HAVE A PURPOSEFUL AND FULFILLING LIFE. TO SUPPORT OUR YOUNG MEMBERS' CHANGING NEEDS FROM YEAR TO YEAR, AND TO PREPARE THEM FOR THEIR ALUMNI YEARS, THE ENDOWMENT FUND SUPPORTS PROGRAM OFFERINGS THAT HAVE BEEN DESIGNED TO EVOLVE WITH THE MEMBER AS THEY MOVE THROUGH THEIR PHI PSI JOURNEY. SPECIFIC PROGRAMS HAVE BEEN CRAFTED IN STAGES TO REFLECT THE TRANSFORMATIVE PROCESS OF MATURING FROM ONE WHO PLEDGES THEIR MEMBERSHIP TO THE BROTHERHOOD ALL THE WAY THROUGH AND CONTINUING INTO THEIR ALUMNI EXPERIENCE. ASCEND IS AN ONLINE EDUCATIONAL PROGRAM FOR CHAPTER OFFICERS AND COMMITTEE CHAIRMEN TO LEARN A VARIETY OF SKILLS NECESSARY TO FOSTER SUCCESS WITHIN THEIR POSITION. THE ENDOWMENT FUND WAS PLEASED TO SUPPORT THIS PROGRAM IN 2023 AS PARTICIPANTS LEARN ABOUT VARIOUS LEADERSHIP TYPES, WHICH MODEL THEY MOST ALIGN WITH, AND HOW TO CREATE SMART GOALS. THROUGH THIS EXPERIENCE, ONE LEARNS THE PERSONAL SKILLS NECESSARY TO BE A POSITIVE LEADER AND ROLE MODEL, HOW TO BUILD AND NURTURE A PRODUCTIVE AND SUCCESS-DRIVEN TEAM, AND HOW TO ACHIEVE THE GOALS AND RESPONSIBILITIES THEY HAVE SET. EMBARK IS A COMPREHENSIVE ONLINE MEMBER EDUCATION AND DEVELOPMENT PROGRAM. FROM THE DAY ONE'S BID IS ACCEPTED THROUGH INITIATION AND EXTENDING INTO THEIR UNDERGRADUATE YEARS, EMBARK PROVIDES DIRECTION AND ADDS VALUE TO ONE'S PHI PSI EXPERIENCE. THE ENDOWMENT FUND SUPPORTS THE EDUCATIONAL PORTION OF THE PROGRAM WHICH INCLUDES FIVE INITIAL MODULES THAT PROVIDE THE BASIS FOR NEW MEMBERS AS THEY CONTEMPLATE MEMBERSHIP IN THE FRATERNITY. OTHER MODULES EXPLORE THE HISTORY OF BOTH FRATERNITY-SORORITY LIFE AND PHI KAPPA PSI, INTRODUCE PRACTICES ON HOW TO ALIGN ONE'S VALUES AND ACTIONS, SHARED TECHNIQUES TO IMPROVE EMOTIONAL INTELLIGENCE, EDUCATE MEMBERS ON INCLUSIVE PRACTICES AND REVIEW THE APPLICATION OF THE RITUAL TO EVERYDAY LIFE. ANSWERING THE CALL OF UNDERGRADUATES, ALUMNI AND CAMPUS COMMUNITIES, THE ENDOWMENT FUND CONTINUES TO SUPPORT A COMPREHENSIVE SUITE OF PROGRAMMING THAT FOCUSES ON ENHANCING STUDENTS' UNDERSTANDING, EDUCATION AND AWARENESS OF MENTAL HEALTH ISSUES, NUTRITION, BODY IMAGE, BULLYING, HAZING AND HARASSMENT, ALCOHOL AND DRUG MISUSE, GENDER RELATIONS, AND SEXUAL MISCONDUCT (INCLUDING SEXUAL ASSAULT, ABUSE AND HARASSMENT). SPECIFIC PROGRAMS INCLUDE AWARENESS CAMPAIGNS (NATIONAL SUICIDE PREVENTION WEEK, MOVEMBER, ETC.) AND TIGHTROPE. AWARENESS CAMPAIGNS ARE EFFORTS TO RAISE AWARENESS ON VARIOUS TOPICS INCLUDING SUICIDE PREVENTION AND MEN'S HEALTH (E.G. GENERAL WELLBEING, PROSTATE CANCER, TESTICULAR CANCER, SUICIDE PREVENTION/MENTAL HEALTH). THE AIM OF THE AWARENESS COMMUNICATIONS IS TO INCREASE VISIBILITY TO THE TOPICS, ENCOURAGE DISCUSSIONS REGARDING THE TOPICS AND CREATE AN UNDERSTANDING OF THE IMPORTANCE OF REGULAR HEALTH CHECK-UPS AND OPPORTUNITIES TO ENGAGE IN PREVENTION-BASED CARE. TIGHTROPE, AN ONLINE ALCOHOL, HAZING AND SEXUAL ASSAULT PREVENTION PROGRAM, IS DESIGNED AS A POPULATION-LEVEL PREVENTION PROGRAM. EACH NEW MEMBER OF THE FRATERNITY IS REQUIRED TO COMPLETE THE PROGRAM. THIS METHODOLOGY CREATES A LEARNING EXPERIENCE THAT MOTIVATES BEHAVIOR CHANGE, RESETS UNREALISTIC EXPECTATIONS ABOUT THE EFFECTS OF ONE'S DECISIONS AND LINKS CHOICES TO ACADEMIC AND PERSONAL SUCCESS. MANY OF THESE TRADITIONALLY ONLINE EDUCATIONAL EFFORTS AROUND MENTAL HEALTH, LEADERSHIP, SELF-AWARENESS, PROFESSIONAL DEVELOPMENT AND THE IMPORTANCE OF HEALTHY RELATIONSHIPS WERE BOLSTERED IN 2023 AS PHYSICAL, IN-PERSON PROGRAMMING AND CONNECTIONS CONTINUED TO RETURN. IN 2023, THE EXPLORE PROGRAM WAS INTRODUCED, AN AWARD-WINNING AND CAREER IMMERSION EXTERNSHIP UNITING STUDENT PHI PSIS POSSESSING SIMILAR CAREER ASPIRATIONS WITH SUCCESSFUL ALUMNI IN THOSE FIELDS. THE ENDOWMENT FUND MADE POSSIBLE SEVERAL SESSIONS. MOVING BEYOND WHAT TRADITIONAL LEADERSHIP AND PROFESSIONAL DEVELOPMENT CONFERENCES CAN OFFER, EXPLORE SESSIONS IMMERSE YOUNG BROTHERS IN REAL TIME LEARNING WITHIN REAL WORLD SCENARIOS AS THEY SHADOW ELDER PHI PSIS. THE MULTI-DAY SESSION OFFERS NOT ONLY A WIDE-RANGING LOOK AT DAY-TO-DAY, ON-THE-JOB RESPONSIBILITIES, IT ALSO PROVIDES TRACKS FOR INDIVIDUALIZED LEARNING IN A NARROW OR NICHE FOCUS OF THE BROADER INDUSTRY. IN 2023, THE ENDOWMENT FUND WAS PLEASED TO MAINTAIN SUPPORT OF THE WINEMAN MENTORING ADVANTAGE PROGRAM (MAP). MAP, WHICH WAS ESTABLISHED IN 2018, SEEKS TO FOSTER MEANINGFUL RELATIONSHIPS BETWEEN PHI KAPPA PSI ALUMNI AND CURRENT UNDERGRADUATE MEMBERS BY CREATING AND CULTIVATING A ROBUST MENTORING RELATIONSHIP. THE CONNECTIONS MADE THROUGH MAP HELP PREPARE STUDENTS FOR LIFE AFTER COLLEGE AND ENHANCE THE LIFELONG CONNECTION THAT BROTHERHOOD IN PHI KAPPA PSI PROVIDES. IT IS BUILT ON THE PRINCIPLES OF PHI KAPPA PSI AND ENHANCED BY MENTORING BEST PRACTICES FROM COLLEGES, UNIVERSITIES, AND COMPANIES WORLDWIDE. THE ENDOWMENT FUND IS COMMITTED TO NOT ONLY LEADERSHIP/MEMBER DEVELOPMENT PROGRAMS BUT ALSO THE ACADEMIC SUCCESS AND FULFILLING THE FINANCIAL NEEDS OF TODAY'S COLLEGIANS. FOR FISCAL YEAR 2023, EXPENSES ATTRIBUTABLE TO FELLOWSHIPS AND SCHOLARSHIPS TOTALED $369,428. THROUGH THE GRANTING OF SCHOLARSHIP MONIES, THE ENDOWMENT FUND REGULARLY AWARDS PHI PSIS WHO EXCEL IN AREAS OF ACADEMICS, CHAPTER LEADERSHIP, AND CAMPUS INVOLVEMENT. THE MEN CHOSEN DISPLAY OUTSTANDING ACADEMIC ACHIEVEMENT AND EXCELLENCE IN SERVICE TO PHI PSI, THEIR CAMPUSES AND COMMUNITIES, AS WELL AS ACTIVE MEMBERSHIP IN VARSITY ATHLETICS, UNIVERSITY-WIDE ORGANIZATIONS, COMMUNITY GROUPS, AND PHILANTHROPIES. THEY ARE OFTEN INVOLVED IN STUDENT GOVERNMENT AND HONOR SOCIETIES AND SERVE AS YOUTH MENTORS, COMMUNITY VOLUNTEERS, AND CAMPUS LEADERS. THESE AWARDS CONTINUE TO UNDERSCORE THE ENDOWMENT FUND'S BELIEF THAT SUCCESS WITHIN THE FRATERNITY AND LIFE FIRST BEGINS IN THE CLASSROOM.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $2,574,107
Program Service Revenue $103,579
Investment Income $2,356,935
Other Revenue $56,535,097
TOTAL REVENUE $61,569,718

Expense Breakdown

Grants Paid $875,705
Salaries & Benefits $1,473,142
Fundraising Expenses $835,162
Program Expenses $2,248,794
Other Expenses $2,812,107
TOTAL EXPENSES $5,160,954

Year-over-Year Comparison

2023 2022 Change
Revenue $61,569,718 $9,239,646 +5.7%
Expenses $5,160,954 $6,103,120 -0.2%
Net Income $56,408,764 $3,136,526 +17.0%
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
18
Independent Members
18
Employees
24
Volunteers
43

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
6
$516,301
Total Directors
18
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
JAMES C DENNY CHAIRMAN 10.00
Officer Director
$0 $0 $0
TIMOTHY P MCCOURT VICE CHAIRMAN 4.00
Officer Director
$0 $0 $0
BRUCE A JACKSON SECRETARY/TREASURER 6.00
Officer Director
$0 $0 $0
KARL D BRENSIKE TRUSTEE 4.00
Director
$0 $0 $0
ROBERT W DUDLEY TRUSTEE 5.00
Director
$0 $0 $0
DONALD V FITES TRUSTEE 5.00
Director
$0 $0 $0
CHRISTOPHER J HEDBERG TRUSTEE 0.50
Director
$0 $0 $0
FREDERICK A HEGELE TRUSTEE 5.00
Director
$0 $0 $0
CHARLES J MAXWELL JR TRUSTEE 8.00
Director
$0 $0 $0
DAVID S MOYER TRUSTEE 2.00
Director
$0 $0 $0
JOHN R MURRAY JR TRUSTEE 2.00
Director
$0 $0 $0
ARI J OFFICER TRUSTEE 3.00
Director
$0 $0 $0
JOHN H PIERCE TRUSTEE 5.00
Director
$0 $0 $0
RANDALL W SCHNACK TRUSTEE 5.00
Director
$0 $0 $0
CARL J STONEY JR TRUSTEE 5.00
Director
$0 $0 $0
JERRY C WATSON TRUSTEE 0.50
Director
$0 $0 $0
PAUL R WINEMAN TRUSTEE 5.00
Director
$0 $0 $0
WAYNE W WILSON TRUSTEE 5.00
Director
$0 $0 $0
PAMELA P HAWKINS CHIEF FINANCIAL OFFICER 40.00
Officer
$128,229 $7,882 $136,111
BENJAMIN S NICOL CHIEF EXECUTIVE OFFICER 40.00
Officer
$168,441 $16,028 $184,469
DREW M THAWLEY CHIEF ADVANCEMENT OFFICER 40.00
Officer
$164,074 $31,647 $195,721
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2024 No data No data No data No data
2023 $61,569,718 $5,160,954 $77,216,082 $56,408,764
2022 $9,239,646 $6,103,120 $27,603,505 $3,136,526
2021 $5,253,152 $5,320,092 $26,119,752 $-66,940
2020 $3,422,864 $5,044,234 $23,608,641 $-1,621,370
2019 $4,035,918 $6,438,569 $25,660,122 $-2,402,651
2018 $7,452,286 $4,692,530 $27,031,750 $2,759,756
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