Gamma Beta Chapter Of The Fraternity Of Alpha Kappa Lambda
- Assets
- $2.1m
- Revenue
- $346.9k
- Investments
- $0.0
- Employees
- 0
- Location
- Birmingham, AL
- Founding
- 01/2005
- Data as of
- 07/2021
- EIN
- 63-1049763
Organization Overview
Gamma Beta Chapter Of The Fraternity Of Alpha Kappa Lambda is located in Birmingham, AL. The organization was established in 2005. According to its NTEE Classification (Y40) the organization is classified as: Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Gamma Beta Chapter Of The Fraternity Of Alpha Kappa Lambda is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 07/2021, Gamma Beta Chapter Of The Fraternity Of Alpha Kappa Lambda generated $346.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 6 years, the organization has seen revenues fall by an average of (11.4%) each year. All expenses for the organization totaled $442.7k during the year ending 07/2021. As we would expect to see with falling revenues, expenses have declined by (7.1%) per year over the past 6 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
TO PROVIDE CHAPTER PROGRAMMING AND CLUBHOUSE ACTIVITIES FOR ITS MEMBERS
Describe the Organization's Program Activity:
Part 3 - Line 4a
PROVIDE CLUBHOUSE ACTIVITIES FOR APPROXIMATELY 100 MEMBERS OF UNDERGRADUATE CHAPTER OF NATIONAL COLLEGIATE SOCIAL FRATERNITY
PROVIDED CHAPTER PROGRAMMING FOR APPROXIMATELY 100 MEMBERS OF UNDERGRADUATE CHAPTER OF NATIONAL COLLEGIATE SOCIAL FRATERNITY
PROVIDE MEALS FOR ITS UNDERGRADUATE MEMBERS
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Kevin D Cook President | Officer | 5 | $0 |
Val Lopez Vice President | Officer | 5 | $0 |
Addison Giannini Treasruer | Officer | 5 | $0 |
Tyler Hendon Secretary | Officer | 5 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| 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 | $346,949 |
| Statement of Expenses | |
|---|---|
| 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 to disqualified persons | $0 |
| Other salaries and wages | $79,797 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $12,753 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $5,775 |
| 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 | $1,312 |
| 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 | $78,105 |
| Insurance | $8,122 |
| All other expenses | $0 |
| Total functional expenses | $442,730 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $391,149 |
| 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 | $13,472 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $2,142,733 |
| 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 | $2,057,607 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $2,057,607 |
| 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 |
| Total liabilities and net assets/fund balances | $85,126 |
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