Kappa Council Inc
- Assets
- $1.5m
- Revenue
- $188.8k
- Investments
- $0.0
- Employees
- 0
- Location
- Wake Forest, NC
- Founding
- 08/1970
- Data as of
- 12/2021
- EIN
- 56-6095067
Organization Overview
Kappa Council Inc is located in Wake Forest, NC. The organization was established in 1970. 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. Kappa Council Inc is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2021, Kappa Council Inc generated $188.8k in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (2.5%) each year. All expenses for the organization totaled $113.8k during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (15.4%) per year over the past 7 years. 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
PROVIDE HOUSING AND ACADEMIC SUPPORT TO THE STUDENT MEMBERS OF PI KAPPA PHI FRATERNITY AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL.
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE HOUSING AND ACADEMIC SUPPORT TO UNDERGRADUATE MEMBERS OF FRATERNITY CHAPTER. THIS INCLUDES APPROXIMATELY 30 STUDENTS WHO LIVE IN THE FRATERNITY CHAPTER HOUSE AND ANOTHER 40 ACTIVE STUDENT MEMBERS. RENTS AND RELATED FEES ARE COLLECTED BY KAPPA COUNCIL INC FROM MEMBERS OF THE STUDENT CHAPTER. MONTHLY MORTGAGE PAYMENT ON CHAPTER HOUSE, UTILITIES AND OTHER EXPENSES RELATED TO THE OPERATIONS AND MAINTENANCE OF THE CHAPTER HOUSE ARE PAID BY KAPPA COUNCIL INC. FUNDRAISING ACTIVITIES IN WHICH KAPPA COUNCIL IS ENGAGED CONSISTS OF SOLICITING DONATIONS FROM ALUMNI MEMBERS. THESE BALANCES ARE USED TO FUND CAPITAL IMPROVEMENTS TO THE CHAPTER HOUSE, AND TO PAY DOWN THE MORTGAGE BALANCE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Charles President | OfficerTrustee | 5 | $0 |
Stephen C Shaw Treasurer | OfficerTrustee | 5 | $0 |
Martin Lindsey Director | Trustee | 0 | $0 |
James Michael Collins Director | Trustee | 0 | $0 |
John Short Director | Trustee | 0 | $0 |
Mark Prillaman Director | Trustee | 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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $188,803 |
| 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 | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $188,803 |
| 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 | $113,785 |
| 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 | $0 |
| Total functional expenses | $113,785 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $141,937 |
| 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 | $1,402,503 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,544,440 |
| 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 | $230,511 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $230,511 |
| 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 | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $1,313,929 |
| Total liabilities and net assets/fund balances | $1,544,440 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Pi Kappa Phi Properties Inc Charlotte, NC | $36,157,884 | $10,688,194 |
Sigma Phi Epsilon Fraternity Inc Richmond, VA | $54,140,029 | $10,282,777 |
Alpha Omicron Pi Fraternity Inc Brentwood, TN | $57,425,535 | $8,065,959 |
Omega Psi Phi Fraternity Decatur, GA | $10,119,312 | $8,150,669 |
Nautilus Management Inc Memphis, TN | $16,834,211 | $2,172,564 |
The Tau Beta Pi Association Inc Knoxville, TN | $43,758,884 | $4,633,459 |
Sigma Nu Educational Foundation Inc Lexington, VA | $16,834,611 | $2,302,992 |
Pi Kappa Phi Foundation Charlotte, NC | $14,162,556 | $2,105,535 |
Alpha Omega Clinic And Consultation Fairfax, VA | $317,274 | $1,917,356 |
Kappa Alpha Order Educational Foundation Lexington, VA | $13,471,837 | $4,116,886 |
Phi Mu Foundation Peachtree City, GA | $11,103,093 | $1,619,138 |
Alpha Gamma Delta Fraternity Athens, GA | $135,188 | $1,394,894 |