Kappa Foundation Of Charlotte Inc
- Assets
- $657.9k
- Revenue
- $343.0k
- Investments
- $0.0
- Employees
- 0
- Location
- Charlotte, NC
- Founding
- 05/2000
- Data as of
- 12/2021
- EIN
- 56-2192985
Organization Overview
Kappa Foundation Of Charlotte Inc is located in Charlotte, NC. The organization was established in 2000. 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. Kappa Foundation Of Charlotte 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 12/2021, Kappa Foundation Of Charlotte Inc generated $343.0k in total revenue. This organization has experienced exceptional growth, as over the past 3 years, it has increased revenue by an average of 17.8% each year . All expenses for the organization totaled $223.1k during the year ending 12/2021. While expenses have increased by 8.3% per year over the past 3 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
OUR MISSION IS DEEMED TO BE CHARITABLE AND EDUCATIONAL AS BROADLY DEFINED. WE AIM TO FOSTER AND DEVELOP YOUNG MEN IN OUR COMMUNITY TO BE MODEL SCHOLASTIC AND COMMUNITY CITIZENS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
OUR 2021 EXEMPT PURPOSE ACHIEVEMENTS CENTERED PRIMARILY AROUND THE FULL FUNDING AND EXECUTION OF OUR GUIDE RIGHT PROGRAM -ITS MISSION BEING THE FOSTERING OF EXCEPTIONAL ACHIEVEMENTBY YOUNG MEN IN OUR COMMUNITY THROUGH DILIGENT ROLE MODELING, MENTORING, STRUCTURED INVOLVEMENT AND OPEN ACCESS TO ECONOMIC SCHOLARSHIP RESOURCES. IN 2021, OUR GUIDE RIGHT PROGRAM (I) CHAMPIONED OUR KAPPA LEAGUE PROGRAM COMPONENT WHICH HOSTED AND MENTORED CHILDREN 8TH THROUGH 11TH GRADE STUDENTS IN THE CHARLOTTE MECKLENBURG COUNTY AREA AND (II) HOSTED OUR 45TH KAPPA BEAUTILLION MILITAIRE PROGRAM COMPONENT WHICH FEATURED ACHIEVING YOUNG MEN AND PROVIDED COLLEGE SCHOLARSHIPS TO THEM.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jaredd Small Secretary | Officer | 0 | $0 |
James Clark Assistant Treasurer | Officer | 0 | $0 |
Don Hollis Treasurer | Officer | 0 | $0 |
Chris Sherman President | Officer | 0 | $0 |
Wesley Griffin Vice President | Officer | 0 | $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 | $318,471 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $318,471 |
| Total Program Service Revenue | $0 |
| Investment income | $0 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $24,559 |
| 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 | $343,030 |
| 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 | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $136,477 |
| Total functional expenses | $223,061 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $176,997 |
| 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 | $480,900 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $657,897 |
| 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 | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $657,897 |
| 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 | $657,897 |
Grants Recieved
Over the last fiscal year, we have identified 27 grants that Kappa Foundation Of Charlotte Inc has recieved totaling $57,892.
| Awarding Organization | Amount |
|---|---|
Mightycause Charitable Foundation Marianna, FL PURPOSE: UNRESTRICTED | $28,844 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $9,839 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $6,235 |
Baker Hughes Foundation Houston, TX PURPOSE: GENERAL SUPPORT | $2,000 |
Baker Hughes Foundation Houston, TX PURPOSE: GENERAL SUPPORT | $2,000 |
Bank Of America Charitable Foundation Inc Charlotte, NC PURPOSE: OPERATIONAL SUPPORT | $1,500 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Education Loan Finance Inc Knoxville, TN | $2,281,627,256 | $227,234,757 |
Educational Foundation Inc Chapel Hill, NC | $193,854,804 | $63,834,996 |
Nc Student Aid Association Inc Raleigh, NC | $102,296,557 | $23,877,668 |
Virginia Student Aid Foundation Charlottesville, VA | $165,530,915 | $45,876,846 |
Georgia Goal Scholarship Program Inc Peachtree Corners, GA | $58,000,031 | $45,569,079 |
Meeting Street Schools Charleston, SC | $31,326,851 | $31,027,510 |
Georgia State University Athletic Association Inc Atlanta, GA | $12,025,331 | $28,251,593 |
The North Carolina A&t Real Estate Foundation Inc Greensboro, NC | $169,150,909 | $33,021,773 |
Horatio Alger Association Of Distinguished Americans Inc Alexandria, VA | $58,355,936 | $27,092,429 |
Hca Healthcare Foundation Nashville, TN | $97,582,102 | $44,453,527 |
James Madison University Foundation Inc Harrisonburg, VA | $191,139,680 | $18,508,438 |
Marine Corps Scholarship Foundation Inc Alexandria, VA | $149,128,193 | $34,285,716 |