Risk Management Plan
Risk management and harm reduction should be a consideration in everything the chapter does. The intent of risk management education is not to prevent the chapter from having fun, but to help the chapter reduce risks while having fun. Managing chapter risk will help prevent, avoid and minimize problems before they occur, including lawsuits against chapter officers and members seeking their personal assets.
All chapters of Sigma Pi Fraternity should create a Risk Management Plan to include operating procedures for social events, chapter house operations and the overall promotion of safety among members. All Risk Management Plans are due to the Executive Office by December 1st and May 1st.
NOTE: Changing the billing status is not the same as changing the membership status. At this link, you can find how to make Chapter Roster Updates via Chapter Desktop.
As tax-exempt entities, the IRS requires all 501(c)7 groups to file a variation of the Form 990. The deadline of these forms is the 15th day of the fifth month after fiscal year end.
Please note that this depends solely on how your individual group operates and maintains its finances. In order to maintain a tax-exempt status, yearly filing of the Form 990 is imperative. Failure to file may result in fines and automatic loss of tax-exempt status by the IRS.
Please note that Fraternal Law (Section 52K and Section 62E) requires that a copy of these forms be sent to the Executive Office of Sigma Pi after filing with the IRS. This is also a step required in the credentialing of your group for the Convocation. Failure to comply may result in the loss of voting rights.
If your filing deadline does not fall within the timeframe of this report, please submit during the next report period.
If you are unsure of which Form 990 your group should file, please see below:
Gross receipts of the organization are over $200,000 OR total assets of the organization are over $500,000.
Gross receipts of the organization are over $50,000 but less than $200,000 AND total assets are under $500,000.
Gross receipts are under $50,000. This may be submitted electronically or over the phone by calling the IRS at 877-829-5500.
Please complete the Member Suspension form at this time.
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