Alpha Kappa Alpha Sorority Inc
- Assets
- $78.7m
- Revenue
- $45.3m
- Investments
- $0.0
- Employees
- 38
- Location
- Chicago, IL
- Founding
- 10/1952
- Data as of
- 12/2023
- EIN
- 36-2152330
Organization Overview
Alpha Kappa Alpha Sorority Inc is located in Chicago, IL. The organization was established in 1952. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, under the broad grouping of Education and related organizations. As of 12/2023, Alpha Kappa Alpha Sorority Inc employed 38 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Alpha Kappa Alpha Sorority Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2023, Alpha Kappa Alpha Sorority Inc generated $45.3m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 7.2% each year. All expenses for the organization totaled $47.2m during the year ending 12/2023. While expenses have increased by 10.7% per year over the past 5 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
OUR PURPOSE IS TO CULTIVATE HIGH SCHOLASTIC AND ETHICAL STANDARDS, THROUGH OUTREACH PROGRAMS IN EDUCATION, HEALTH, LEADERSHIP DEVELOPMENT, COMMUNITY SERVICE AND OTHER AREAS THAT IMPROVE THE SOCIAL STATURE OF WOMEN AND GIRLS, AND BE OF SERVICE TO ALL MANKIND.UNDER CODE SECTION 501(C)7 AKA IS A SOCIAL CLUB ORGANIZED FOR PLEASURE, RECREATION AND NON-PROFIT PURPOSES WHICH INCLUDE RELIGIOUS, CHARITABLE, SCIENTIFIC, LITERARY AND EDUCATIONAL SUPPORT. THESE CHARITABLE FUNCTIONS ARE SUPPORTED WITH FUNDS SET ASIDE FOR THESE PURPOSES IN COMPLIANCE WITH THE CODE SECTION.
Describe the Organization's Program Activity:
Part 3 - Line 4a
REGIONS FUND- FUNDS FOR REGIONAL DIRECTORS ACTIVITIES TO MANAGE HER/HIS OFFICE WITH CERTAIN ALLOCATION OF CORPORATE FUNDS.
LEADERSHIP SEMINAR FUND - STRUCTURED TO MEET THE NEEDS OF CURRENT AND POTENTIAL LEADERS OF AKA.
CORPORATE OFFICE IMPROVEMENT FUND (COIP)- THE PURPOSE IS TO GENERATE INCOME FOR CONSTRUCTION AND MAINTENANCE OF THE MAIN HEADQUARTERS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Nicole H Barrett Deputy Director | 40 | $161,778 | |
Jason Figurelli CFO | 40 | $158,587 | |
Barbara Brooks Director Of Hr | 40 | $134,878 | |
Patricia Watkins Drtr Of Membership | 40 | $120,196 | |
Darold Fletcher Director Of It | 40 | $111,586 | |
Elicia Pegues Spearman N. Atl. Reg Dir | Trustee | 5 | $0 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Fourteen Karat Plus Inc Entertainment Design | 12/30/23 | $2,360,380 |
Real Eyes Production Entertainment | 12/30/23 | $504,244 |
Amaren Chauffeured Transportation Transportation | 12/30/23 | $833,364 |
Rg Apparel Co Printing | 12/30/23 | $285,998 |
Storehouse In A Box Llc Entertainment Designers | 12/30/23 | $318,814 |
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 | $44,672,096 |
| Investment income | $0 |
| 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 | $567,657 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $45,276,043 |
| 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 | $4,684,676 |
| 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 | $45,900 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $1,932,332 |
| 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 | $17,003,009 |
| Interest | $11,701 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $736,251 |
| Insurance | $1,817,818 |
| All other expenses | $8,355,153 |
| Total functional expenses | $47,246,171 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $39,249,297 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $1,937,481 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $4,609,415 |
| Prepaid expenses and deferred charges | $1,806,371 |
| Net Land, buildings, and equipment | $5,985,544 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $13,510,552 |
| Intangible assets | $0 |
| Other assets | $11,605,752 |
| Total assets | $78,704,412 |
| Accounts payable and accrued expenses | $14,349,983 |
| Grants payable | $0 |
| Deferred revenue | $11,256,671 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $319,919 |
| Total liabilities | $25,926,573 |
| Net assets without donor restrictions | $30,947,921 |
| Net assets with donor restrictions | $21,829,918 |
| 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 | $78,704,412 |