Alpha Kappa Psi Scholarship Fund
- Assets
- $3.5m
- Revenue
- $307.3k
- Investments
- $99.6k
- Employees
- 0
- Location
- Minneapolis, MN
- Founding
- 03/2006
- Data as of
- 06/2022
- 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 06/2022, Alpha Kappa Psi Scholarship Fund generated $307.3k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (1.9%) each year. All expenses for the organization totaled $370.8k during the year ending 06/2022. 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 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 | 2 | $41,748 |
Lois M Martin Secretary | OfficerTrustee | 2 | $0 |
Richard A Perrine President & Chairman Of The Board | OfficerTrustee | 2 | $0 |
Myron C Martin VP & Treasurer | OfficerTrustee | 2 | $0 |
Michael J Vanderhayden Director | Trustee | 1 | $0 |
Mark W Foley 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 | $222,180 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $222,180 |
| Total Program Service Revenue | $0 |
| Investment income | $76,643 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $6,335 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $307,258 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $293,178 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $41,748 |
| Compensation of current officers, directors, key employees. | $4,175 |
| 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 | $2,874 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $19,061 |
| Advertising and promotion | $8,339 |
| Office expenses | $1,266 |
| 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 | $1,971 |
| All other expenses | $387 |
| Total functional expenses | $370,825 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $104,721 |
| Savings and temporary cash investments | $31,087 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $930 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $372,198 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $1,154 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $2,736,238 |
| Investments—other securities | $99,632 |
| Investments—program-related | $141,014 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $3,486,974 |
| Accounts payable and accrued expenses | $6,572 |
| 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 | $6,572 |
| 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 | $3,449,095 |
| Total liabilities and net assets/fund balances | $3,486,974 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Alpha Kappa Psi Scholarship Fund has recieved totaling $163,604.
| Awarding Organization | Amount |
|---|---|
Enterprise Education Foundation Dallas, TX PURPOSE: FOR ACADEMIC SCHOLARSHIPS | $82,554 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $81,050 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Iowa Student Loan Liquidity Corp West Des Moines, IA | $1,230,053,718 | $45,688,659 |
Northstar Education Finance Inc Eagan, MN | $1,293,468,719 | $40,177,777 |
Northwestern Mutual Life Foundation Inc Milwaukee, WI | $106,326,341 | $38,353,841 |
Scholarship America Inc Minneapolis, MN | $219,130,905 | $29,933,482 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Waitt Foundation North Sioux City, SD | $157,175,219 | $6,009,824 |
Team Makers Club Inc Fargo, ND | $24,927,572 | $16,460,437 |
Bentson Foundation Wayzata, MN | $107,689,978 | $6,021,397 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |
Pleasant T Rowland Foundation Brookfield, WI | $94,312,384 | $11,804,849 |
Central States Fair Rapid City, SD | $6,354,015 | $4,358,357 |
Sc Johnson Giving Inc Racine, WI | $34,098,989 | $19,343,102 |