Alpha Kappa Psi Scholarship Fund
- Assets
- $3.9m
- Revenue
- $351.1k
- Investments
- $100.6k
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 03/2006
- Data as of
- 06/2024
- EIN
- 41-1925673
Organization Overview
Alpha Kappa Psi Scholarship Fund is located in Minneapolis, MN. The organization was established in 2006. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, 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. Alpha Kappa Psi Scholarship Fund 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 06/2024, Alpha Kappa Psi Scholarship Fund generated $351.1k in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 1.6% each year. All expenses for the organization totaled $382.7k during the year ending 06/2024. While expenses have increased by 8.3% 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
2024
Describe the Organization's Mission:
Part 3 - Line 1
TO PROMOTE BUSINESS EDUCATION AT THE UNIVERSITY OF MINNESOTA BY AWARDING MERIT-BASED AND NEED-BASED SCHOLARSHIPS TO QUALIFIED STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SCHOLARSHIPS AWARDED TO STUDENTS ATTENDING THE UNIVERSITY OF MINNESOTA CARLSON SCHOOL OF MANAGEMENT.
ADMINISTRATIVE EXPENSES OF THE SCHOLARSHIP PROGRAM.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Holly Anderson Executive Director | Officer | 18 | $41,343 |
Richard A Perrine President & Chairman Of The Board | OfficerTrustee | 2 | $0 |
Myron C Martin VP & Treasurer | OfficerTrustee | 2 | $0 |
Lois M Martin Secretary | OfficerTrustee | 2 | $0 |
Laura C Murphy Director | Trustee | 1 | $0 |
Adam J Krasnoff Director | Trustee | 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 | $263,238 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $263,238 |
| Total Program Service Revenue | $0 |
| Investment income | $41,380 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $44,452 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $351,070 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $308,003 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $41,343 |
| Compensation of current officers, directors, key employees. | $4,134 |
| 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 | $1,703 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $7,470 |
| Office expenses | $1,476 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $11,403 |
| All other expenses | $11,114 |
| Total functional expenses | $382,651 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $196,590 |
| Savings and temporary cash investments | $2,595 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $790 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $315,887 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $4,178 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $3,129,864 |
| Investments—other securities | $100,556 |
| Investments—program-related | $141,014 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,891,474 |
| Accounts payable and accrued expenses | $10,149 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $10,149 |
| Net assets without donor restrictions | $0 |
| 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 | $31,307 |
| Retained earnings, endowment, accumulated income, or other funds | $3,850,018 |
| Total liabilities and net assets/fund balances | $3,891,474 |