It's possible, but not likely, that the board could still work but that something else was damaged and is preventing it from being able to POST. Disconnect everything from the board except the CPU, case speaker, a working PSU, keyboard, monitor to the onboard video,and 1 stick of RAM. You should either see output from the onboard video, or get a beep code for no video if the onboard video was disabled. If you get nothing, then it's fried. If does POST, then test it one item at a time. Even if it manages to POST it's possible that other parts of it were damaged so expansion slots and drive controllers may not function, which would make it useless.
Test it out with parts that weren't in that system the time it fried. A dead hard drive or disk drive can prevent a board from being able to POST, though you don't really see that on newer boards. A dead video card could also prevent you from being able to POST