Oak Door Corporation
- Assets
- $529.6k
- Revenue
- $68.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Woodbury, MN
- Founding
- 02/2009
- Data as of
- 06/2021
- EIN
- 26-3072936
Organization Overview
Oak Door Corporation is located in Woodbury, MN. The organization was established in 2009. 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. Oak Door Corporation is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2021, Oak Door Corporation generated $68.3k in total revenue. This organization has experienced exceptional growth, as over the past 4 years, it has increased revenue by an average of 19.7% each year . All expenses for the organization totaled $75.2k during the year ending 06/2021. While expenses have increased by 1.6% 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO ADVANCE THE EDUCATIONAL AND LITERARY INTERESTS OF ITS MEMBERS, FOR THE PROMOTION OF SOCIAL VIRTUES AMONG THEM AND THE CREATION AND MAINTENANCE OF HIGH STANDARD OF LIFE AND HAPPINESS FOR ITS MEMBERS BY UNITING THEM IN CLOSER BONDS OF FRIENDSHIP AND BROTHERLY UNION, AND THE PERPETUATION OF ITSELF AS A FRATERNAL ORGANIZATION; AND TO AID STUDENTS AT THE UNIVERSITY OF MINNESOTA TWIN CITIES WHO ARE MEMBERS OF, OR WHO ARE PLEDGED TO BECOME MEMBERS OF, THE BETA CHI CHAPTER OF THE PI KAPPA ALPHA FRATERNITY TO ACHIEVE AND MAINTAIN HIGH SCHOLASTIC STANDARDS, TO ADD TO THEIR GENERAL CULTURE AND KNOWLEDGE AND TO THEIR ABILITY AND DESIRE TO COOPERATE WITH, AND WORK IN HARMONY WITH, THEIR FELLOWMEN, TO MAINTAIN THEMSELVES AND TO SET HIGH EDUCATIONAL AND CULTURAL STANDARDS TO BE FOLLOWED DURING AND AFTER THEIR COLLEGE YEARS AND IN SUCH OTHER MANNER AS THE BOARD OF DIRECTORS OF THE CORPORATION MAY DETERMINE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
T O AID STUDENTS AT THE UNIVERSITY OF MINNESOTA TWIN CITIES WHO ARE MEMBERS OF, OR WHO ARE PLEDGED TO BECOME MEMBERS OF, THE BETA CHI CHAPTER OF THE PI KAPPA ALPHA FRATERNITY TO ACHIEVE AND MAINTAIN HIGH SCHOLASTIC STANDARDS, TO ADD TO THEIR GENERAL CULTURE AND KNOWLEDGE AND TO THEIR ABILITY AND DESIRE TO COOPERATE WITH, AND WORK IN HARMONY WITH, THEIR FELLOWMEN, TO MAINTAIN THEMSELVES AND TO SET HIGH EDUCATIONAL AND CULTURAL STANDARDS TO BE FOLLOWED DURING AND AFTER THEIR COLLEGE YEARS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Sherman President | OfficerTrustee | 1 | $0 |
Alexander Ellingson Treasurer | OfficerTrustee | 1 | $0 |
Rick Palm Project Manager | OfficerTrustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $68,257 |
| 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 | $68,257 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| 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 | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $44,526 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $23,746 |
| Insurance | $6,932 |
| All other expenses | $0 |
| Total functional expenses | $75,204 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $87,280 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| 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 | $0 |
| Net Land, buildings, and equipment | $442,328 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $529,608 |
| Accounts payable and accrued expenses | $0 |
| 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 | $620,730 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $620,730 |
| Net assets without donor restrictions | -$91,122 |
| Net assets with donor restrictions | $0 |
| 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 | $529,608 |
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