Kappa Alpha Psi Foundation Inc
- Assets
- $5.0m
- Revenue
- $1.3m
- Investments
- $0.0
- Employees
- 1
- Location
- Philadelphia, PA
- Founding
- 07/1981
- Data as of
- 12/2022
- EIN
- 23-2205286
Organization Overview
Kappa Alpha Psi Foundation Inc is located in Philadelphia, PA. The organization was established in 1981. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kappa Alpha Psi Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2022, Kappa Alpha Psi Foundation Inc generated $1.3m in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 11.9% each year . All expenses for the organization totaled $983.4k during the year ending 12/2022. While expenses have increased by 4.5% per year over the past 4 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE SUPPORT FOR KAPPA ALPHA PSI FRATERNITY, INC. MEMBERS AND OTHERS IN SERVICE TO COMMUNITIES WITH PARTICULAR EMPHASIS ON AFRICAN-AMERICAN COMMUNITIES
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE GRANTS TO SOME OF THE 12 REGIONAL PROVINCES FOR SCHOLARSHIPS
PROVIDE GRANTS TO SOME OF THE 12 REGIONAL PROVINCES FOR SCHOLARSHIPS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Rodney C Adkins Board Direct | Trustee | $0 | |
Sean Battle Board Direct | Trustee | $0 | |
Darryl Berry Board Direct | Trustee | $0 | |
Rodney Berryman Vice Preside | OfficerTrustee | $0 | |
Donald Bland Board Direct | Trustee | $0 | |
Cain A Hayes Cebs CHFC Board Direct | Trustee | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $176,731 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $497,767 |
| Noncash contributions included in lines 1a–1f | $47,550 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $674,498 |
| Total Program Service Revenue | $0 |
| Investment income | $61,553 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,277,394 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $261,698 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $74,405 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $8,130 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $71,105 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $67,518 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $2,720 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $983,380 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,011,330 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $62,491 |
| Accounts receivable, net | $17,500 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $76,565 |
| Net Land, buildings, and equipment | $46,691 |
| Investments—publicly traded securities | $3,742,735 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $52,800 |
| Total assets | $4,992,612 |
| Accounts payable and accrued expenses | $53,087 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $84,424 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $121,607 |
| Total liabilities | $259,118 |
| Net assets without donor restrictions | $588,572 |
| Net assets with donor restrictions | $4,144,922 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,992,612 |