Sigma Chi Foundation in Evanston, Illinois (IL)

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Sigma Chi Foundation
Employer Identification Number (EIN)362208386
Name of OrganizationSigma Chi Foundation
Address1714 Hinman Ave, Evanston, IL 60201-4517
ActivitiesOther school related activities, Loans or credit reporting, Scholarships (other)
SubsectionEducational Organization
Ruling Date04/1941
DeductibilityContributions are deductible
FoundationOrganization which receives a substantial part of its support from a governmental unit or the general public
OrganizationCorporation
Exempt Organization StatusUnconditional Exemption
Tax Period06/2014
Assets$10,000,000 to $49,999,999
Income$10,000,000 to $49,999,999
Filing Requirement990 (all other) or 990EZ return
Asset Amount$23,400,096
Amount of Income$11,127,580
Form 990 Revenue Amount$7,376,480
National Taxonomy of Exempt Entities (NTEE)Educational Institutions and Related Activities: Scholarships, Student Financial Aid Services, Awards


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Amount of income in 2014: $11,127,580 (it was $5,652,129 in 2013)
Sigma Chi Foundation: 

 $11,127,580
Other organizations performing similar types of work: 

 $72,336

Assets in 2014: $23,400,096 (it was $21,421,887 in 2013)
Sigma Chi Foundation: 

 $23,400,096
Other organizations performing similar types of work: 

 $239,394

Expenses in 2014: $6,039,816
This organization: 

 $6,039,816
Other organizations performing similar types of work: 

 $40,888

Income to expenses ratio in 2014: 1.8
This organization: 

 1.8
Other organizations performing similar types of work: 

 1.4

Employees paid over $100,000 in 2014: 22.2%
This organization: 

 22.2%
Other organizations performing similar types of work: 

 0.0%

Grants share in income in 2014: 83.7%
Sigma Chi Foundation: 

 83.7%
Other organizations performing similar types of work: 

 0.1%

Financial snapshot ($)

Revenue for 2014

Assets at the end of 2014

Functional expenses for 2014

Support schedule

Checklist
201220132014
Is the organization described in section 501(c)(3) or 4947(a)(1) (other than a private foundation)?YesYes
Is the organization required to complete Schedule B, Schedule of Contributors?YesYes
Did the organization engage in direct or indirect political campaign activities on behalf of or in opposition to candidates for public office?NoNo
Did the organization engage in lobbying activities, or have a section 501(h) election in effect during the tax year?NoNo
Is the organization a section 501(c)(4), 501(c)(5), or 501(c)(6) organization that receives membership dues, assessments, or similar amounts as defined in Revenue Procedure 98-19?NoNo
Did the organization maintain any donor advised funds or any similar funds or accounts for which donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts?NoNo
Did the organization receive or hold a conservation easement, including easements to preserve open space, the environment, historic land areas, or historic structures?NoNo
Did the organization maintain collections of works of art, historical treasures, or other similar assets?YesYes
Did the organization report an amount for escrow or custodial account liability; serve as a custodian or provide credit counseling, debt management, credit repair, or debt negotiation services?NoNo
Did the organization, directly or through a related organization, hold assets in temporarily restricted endowments, permanent endowments, or quasi-endowments?YesYes
Did the organization report an amount for land, buildings, and equipment?YesYes
Did the organization report an amount for investments-other securities that is 5% or more of its total assets?NoNo
Did the organization report an amount for investments-program related that is 5% or more of its total assets?NoNo
Did the organization report an amount for other assets that is 5% or more of its total assets?NoNo
Did the organization report an amount for other liabilities?NoNo
Did the organization's separate or consolidated financial statements for the tax year include a footnote that addresses the organization's liability for uncertain tax positions under FIN 48 (ASC 740)?YesYes
Did the organization obtain separate, independent audited financial statements for the tax year?YesYes
Was the organization included in consolidated, independent audited financial statements for the tax year?NoNo
Is the organization a school described in section 170(b)(1)(A)(ii)?NoNo
Did the organization maintain an office, employees, or agents outside of the United States?NoNo
Did the organization have aggregate revenues or expenses of more than $10,000 from grantmaking, fundraising, business, investment, and program service activities outside the United States, or aggregate foreign investments valued at $100,000 or more?NoNo
Did the organization report more than $5,000 of grants or other assistance to or for any foreign organization?NoNo
Did the organization report more than $5,000 of aggregate grants or other assistance to or for foreign individuals?NoNo
Did the organization report a total of more than $15,000 of expenses for professional fundraising services?YesYes
Did the organization report more than $15,000 total of fundraising event gross income and contributions?NoNo
Did the organization report more than $15,000 of gross income from gaming activities?NoNo
Did the organization operate one or more hospital facilities?NoNo
Did the organization attach a copy of its audited financial statements?NoNo
Did the organization report more than $5,000 of grants or other assistance to any domestic organization or domestic government?YesYes
Did the organization report more than $5,000 of grants or other assistance to or for domestic individuals?YesYes
Did the organization answer 'Yes' about compensation of the organization's current and former officers, directors, trustees, key employees, and highest compensated employees?YesYes
Did the organization have a tax-exempt bond issue with an outstanding principal amount of more than $100,000 as of the last day of the year, that was issued after December 31, 2002?NoNo
Did the organization invest any proceeds of tax-exempt bonds beyond a temporary period exception?NoNo
Did the organization maintain an escrow account other than a refunding escrow at any time during the year to defease any tax-exempt bonds?NoNo
Did the organization act as an 'on behalf of' issuer for bonds outstanding at any time during the year?NoNo
Did the organization engage in an excess benefit transaction with a disqualified person during the year?NoNo
Is the organization aware that it engaged in an excess benefit transaction with a disqualified person in a prior year, and that the transaction has not been reported on any of the organization's prior Forms 990 or 990-EZ?NoNo
Did the organization report any amount for receivables from or payables to any current or former officers, directors, trustees, key employees, highest compensated employees, or disqualified persons?NoNo
Did the organization provide a grant or other assistance to an officer, director, trustee, key employee, substantial contributor or employee thereof, a grant selection committee member, or to a 35% controlled entity or family member of any of these persons?NoNo
Was the organization a party to a business transaction with one of the following parties
A current or former officer, director, trustee, or key employee?NoNo
A family member of a current or former officer, director, trustee, or key employee?NoNo
An entity of which a current or former officer, director, trustee, or key employee (or a family member thereof) was an officer, director, trustee, or direct or indirect owner?YesYes
Did the organization receive more than $25,000 in non-cash contributions?YesYes
Did the organization receive contributions of art, historical treasures, or other similar assets, or qualified conservation contributions?NoNo
Did the organization liquidate, terminate, or dissolve and cease operations?NoNo
Did the organization sell, exchange, dispose of, or transfer more than 25% of its net assets?NoNo
Did the organization own 100% of an entity disregarded as separate from the organization under Regulations sections 301.7701-2 and 301.7701-3?NoNo
Was the organization related to any tax-exempt or taxable entity?NoNo
Did the organization have a controlled entity within the meaning of section 512(b)(13)?NoNo
Did the organization make any transfers to an exempt non-charitable related organization?NoNo
Did the organization conduct more than 5% of its activities through an entity that is not a related organization and that is treated as a partnership for federal income tax purposes?NoNo
Statements Regarding Other IRS Filings and Tax Compliance
2011201220132014
The number reported in Box 3 of Form 109621
The number of Forms W-2G00
Did the organization comply with backup withholding rules for reportable payments to vendors and reportable gaming (gambling) winnings to prize winners?YesYes
The number of employees reported on Form W-3, Transmittal of Wage and Tax Statements, filed for the calendar year ending with or within the year covered by this return2018
Did the organization file all required federal employment tax returns?YesYes
Did the organization have unrelated business gross income of $1,000 or more during the year?NoNoNoNo
Has it filed a Form 990-T for this year?NoNo
At any time during the calendar year, did the organization have an interest in, or a signature or other authority over, a financial account in a foreign country (such as a bank account, securities account, or other financial account)?NoNo
Was the organization a party to a prohibited tax shelter transaction at any time during the tax year?NoNo
Did any taxable party notify the organization that it was or is a party to a prohibited tax shelter transaction?NoNo
Did the organization file Form 8886-T?NoNo
Does the organization have annual gross receipts that are normally greater than $100,000, and did the organization solicit any contributions that were not tax deductible as charitable contributions?NoNo
Did the organization include with every solicitation an express statement that such contributions or gifts were not tax deductible?NoNo
Did the organization receive a payment in excess of $75 made partly as a contribution and partly for goods and services provided to the payor?NoNo
Did the organization notify the donor of the value of the goods or services provided?NoNo
Did the organization sell, exchange, or otherwise dispose of tangible personal property for which it was required to file Form 8282?NoNo
Did the organization receive any funds, directly or indirectly, to pay premiums on a personal benefit contract?NoNo
Did the organization, during the year, pay premiums, directly or indirectly, on a personal benefit contract?NoNo
If the organization received a contribution of qualified intellectual property, did the organization file Form 8899 as required?NoNo
If the organization received a contribution of cars, boats, airplanes, or other vehicles, did the organization file a Form 1098-C?NoNo
Did a donor advised fund maintained by the sponsoring organization have excess business holdings at any time during the year?NoNo
Did the sponsoring organization make any taxable distributions under section 4966?NoNo
Did the sponsoring organization make a distribution to a donor, donor advisor, or related person?NoNo
Initiation fees and capital contributions$0$0$0$0
Gross receipts for public use of club facilities $0$0$0$0
Gross income from members or shareholders$0$0$0$0
Gross income from other sources$0$0$0$0
Is the organization filing Form 990 in lieu of Form 1041?NoNo
The amount of tax-exempt interest received or accrued during the year$0$0
Is the organization licensed to issue qualified health plans in more than one state?NoNo
The amount of reserves the organization is required to maintain by the states in which the organization is licensed to issue qualified health plans$0$0
The amount of reserves on hand$0$0
Did the organization receive any payments for indoor tanning services during the tax year?NoNo
Has it filed a Form 720 to report these payments?NoNo
Compensation of Officers, Directors, Trustees, Key Employees, Highest Compensated Employees, and Independent Contractors
201220132014
Officers, Directors, Trustees, Key Employees, and Highest Compensated Employees
Total reportable compensation from the organization$781,624$797,817
Total reportable compensation from related organizations$0$0
Total estimated amount of other compensation from the organization and related organizations$116,744$124,878
Total number of individuals who received more than $100,000 of reportable compensation from the organization44
Total number of independent contractors who received more than $100,000 of compensation from the organization00
Statement of Revenue
2011201220132014
Total revenue$8,152,222$4,702,700$5,652,129$7,376,480
Contributions, Gifts, Grants and Other Similar Amounts$6,463,179$4,057,210$4,737,974$6,174,829
Program Service Revenue$120,333$121,633$129,233$109,068
Lessors of Nonresidential Buildings (except Miniwarehouses) $129,233$109,068
All other program service revenue$0$0
Other Revenue
Investment income (including dividends, interest, and other similar amounts)$298,868$309,796$335,834$293,916
Income from investment of tax-exempt bond proceeds$0$0$0$0
Royalties$0$0$0$0
Net rental income$0$0$0$0
Net gain/loss from sales of assets other than inventory$1,261,505$213,757$448,900$587,070
Gross amount from sales of assets other than inventory (Securities / Other)$13,615,139 / $0$13,249,567 / $0$4,084,179 / $0$4,338,170 / $0
Less: cost or other basis and sales expenses (Securities / Other)$12,353,634 / $0$13,035,810 / $0$3,635,279 / $0$3,751,100 / $0
Gain or (loss) (Securities / Other)$1,261,505 / $0$213,757 / $0$448,900 / $0$587,070 / $0
Net income/loss from fundraising events$0$0$0$0
Net income/loss from gaming activities$0$0$0$0
Net income/loss from sales of inventory$0$0$0$0
Miscellaneous Revenue$8,337$304$188$211,597
Direct Property and Casualty Insurance Carriers $188$234,069
999999$0$-22,472
All other revenue$0$0
Statement of Functional Expenses
2011201220132014
Total functional expenses$4,546,524$4,906,105$5,220,077$6,039,816
Grants and other assistance to domestic organizations and domestic governments$2,100,329$2,406,564
Grants and other assistance to domestic individuals$248,200$462,939
Grants and other assistance to foreign organizations, foreign governments, and foreign individuals$0$0
Benefits paid to or for members$0$0
Compensation of current officers, directors, trustees, and key employees$713,218$566,343$576,743$585,005
Compensation not included above, to disqualified persons$0$0
Other salaries and wages$569,080$843,447$1,001,187$1,124,630
Pension plan accruals and contributions$58,227$65,396
Other employee benefits$100,784$114,202
Payroll taxes$82,760$102,118$133,388$137,277
Fees for services (non-employees)
Management$0$0
Legal$17,880$6,721
Accounting$38,500$38,500
Lobbying$0$0
Professional fundraising services$36,646$60,276$121,418$132,007
Investment management fees$64,656$69,039
Other$228,994$277,547
Advertising and promotion$0$0
Office expenses$73,329$61,610
Information technology$28,530$18,606
Royalties$0$0
Occupancy$126,378$158,975
Travel$159,076$159,221
Payments of travel or entertainment expenses for any federal, state, or local public officials$0$0
Conferences, conventions, and meetings$10,084$23,485
Interest$0$0
Payments to affiliates$0$0
Depreciation, depletion, and amortization$108,902$116,705
Insurance$23,472$21,445
Other expenses$0$59,942
Balance Sheet
2011201220132014
Total assets$21,427,843$21,661,993$21,421,887$23,400,096
Cash - non-interest-bearing$574,785$1,195,988
Savings and temporary cash investments$860,123$315,327
Pledges and grants receivable, net$3,570,350$4,474,364
Accounts receivable, net$104,900$65,007
Loans and other receivables from current and former officers, directors, trustees, key employees, and highest compensated employees$0$0
Loans and other receivables from other disqualified persons, persons described in section 4958(c)(3)(B), and contributing employers and sponsoring organizations of section 501(c)(9) voluntary employees' beneficiary organizations$0$0
Notes and loans receivable, net$0$0
Inventories for sale or use$0$0
Prepaid expenses and deferred charges$13,146$44,383
Land, buildings, and equipment: cost or other basis$1,018,259$1,042,461
Investments - publicly traded securities$14,470,564$15,531,808
Investments - other securities$0$0
Investments - program-related$298,208$274,255
Intangible assets$0$0
Other assets$511,552$456,503
Total liabilities$405,994$501,512$1,031,110$497,396
Accounts payable and accrued expenses$1,031,110$497,396
Grants payable$0$0
Deferred revenue$0$0
Tax-exempt bond liabilities$0$0$0$0
Escrow or custodial account liability$0$0
Loans and other payables to current and former officers, directors, trustees, key employees, highest compensated employees, and disqualified persons$0$0
Secured mortgages and notes payable to unrelated third parties$0$0$0$0
Unsecured notes and loans payable to unrelated third parties$0$0$0$0
Other liabilities (including federal income tax, payables to related third parties, and other liabilities)$0$0
Total net assets or fund balances$21,021,849$21,160,481$20,390,777$22,902,700
Unrestricted net assets$1,707,245$724,767
Temporarily restricted net assets$16,928,764$19,245,851
Permanently restricted net assets$1,754,768$2,932,082
Capital stock or trust principal, or current funds$0$0
Paid-in or capital surplus, or land, building, or equipment fund$0$0
Retained earnings, endowment, accumulated income, or other funds$0$0$0$0
Reason for Public Charity Status (for 2014)
The organization is not a private foundation because it is:An organization that normally receives a substantial part of its support from a governmental unit or from the general public described in section 170(b)(1)(A)(vi)
Number of organizations supported0
Sum of amounts of support$0
Support Schedule for Organizations Described in Sections 170(b)(1)(A)(iv) and 170(b)(1)(A)(vi) (for 2010 - 2014)
2010 - 2014 Total
Public Support$24,689,970
Subtotal Support$26,072,410
Gifts, grants, contributions, and membership fees received$26,072,410
Tax revenues levied for the organization's benefit and either paid to or expended on its behalf$0
The value of services or facilities furnished by a governmental unit to the organization without charge$0
The portion of total contributions by each person (other than a governmental unit or publicly supported organization) that exceeds 2% of the total support$1,382,440
Total Support$28,264,607
Public Support$26,072,410
Gross income from interest, dividends, payments received on securities loans, rents, royalties and income from similar sources$2,181,254
Net income from unrelated business activities, whether or not the business is regularly carried on$0
Other income. Do not include gain or loss from the sale of capital assets$10,943
Gross receipts from related activities, etc.$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Sylvester H Reed Memorial TrustPO BOX 1111, Pflugerville, TX 78691-1111TX1998-01$1,242,927
2Sigma Chi Foundation1714 Hinman Ave, Evanston, IL 60201-4517IL1941-04$11,127,580
3Wessner FoundationHarrison Held Llp 333 W Wacker, Chicago, IL 60606IL1998-11$2,753,378
4Austin Special Chicago5318 N Elston Ave, Chicago, IL 60630-1611IL1955-03$2,298,582
5Womens Western Golf Foundation6388 Old Oak Rd, Libertyville, IL 60048-9446IL1972-12$733,287
6Young Chicago Authors1180 N Milwaukee 2nd Fl, Chicago, IL 60642-4019IL1991-10$645,525
7Woodrow W Woods Educational Trust 935795340010 S Dearborn St Ste 21 Fl, Chicago, IL 60603-2300IL1997-09$379,138
8Walter E & Orva M Duling Tr10 S Dearborn Il1-0117, Chicago, IL 60603-2300IL1995-04$283,730
9Womans Educational Aid AssociationC/O Helen Gagel 804 Oakton St 1e, Evanston, IL 60202IL1980-01$227,180
10Roy L Crume Tr Uw111 W Monroe St Tax Div 16w, Chicago, IL 60603IL1997-02$217,700
11Rotary Club Of Schaumburg-Hoffman Estates Charitable Foundation IncPO BOX 958121, Hoffman Est, IL 60195-8121IL1995-01$181,426
12St Louis Association Of Credit Management3005 Tollview Drive, Rolling Meadows, IL 60008-3726IL1994-06$127,666
13The Arthur E Brown Endowment Scholarship TrustThe National Bank 1523 8th Street, East Moline, IL 61244IL1997-10$90,813
14Walter & Lois Schuessler Scholarship Foundation400 N Mcclurg Ct Apt 3406, Chicago, IL 60611-4388IL1998-07$85,783
15St Charles Rotary FoundationC/O John Kunzer 11n221 Romeo Dr, Elgin, IL 60124IL1995-08$76,453
16Rotary Club Of Wheeling Illinois- Grant FundPo Box 75, Wheeling, IL 60090IL1997-12$52,959
17Security Traders Association Of Chicago Scholarship Fund Inc216 W Jackson Blvd No 625, Chicago, IL 60606IL1992-01$51,702
18The Elizabeth Reller Memorial Scholarship Fund300 Washington St, Beardstown, IL 62618-1194IL1995-10$48,401
19Svi Scholarship Fund1000 Adare Dr, Wheaton, IL 60189-6118IL1995-02$45,376
20The Donald J Doody Foundation15 Salt Creek Ln Ste 312, Hinsdale, IL 60521-2964IL1997-11$38,969
Number of organizations performing similar types of work
Alaska15
Alabama29
Arkansas27
Arizona42
California252
Colorado46
Connecticut69
District of Columbia36
Delaware10
Florida151
Georgia78
Hawaii18
Iowa52
Idaho15
Illinois193
Indiana80
Kansas57
Kentucky48
Louisiana26
Massachusetts102
Maryland74
Maine15
Michigan138
Minnesota61
Missouri93
Mississippi12
Montana14
North Carolina100
North Dakota5
Nebraska30
New Hampshire12
New Jersey147
New Mexico15
Nevada16
New York202
Ohio188
Oklahoma33
Oregon38
Pennsylvania160
Rhode Island22
South Carolina36
South Dakota7
Tennessee42
Texas251
Utah11
Virginia136
Vermont9
Washington68
Wisconsin96
West Virginia21
Wyoming9
International5
Total3,412

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