Kappa Alpha Order Educational Foundation
- Assets
- $13.5m
- Revenue
- $4.1m
- Investments
- $0.0
- Employees
- 0
- Location
- Lexington, VA
- Founding
- 02/1982
- Data as of
- 06/2021
- EIN
- 75-1783690
Organization Overview
Kappa Alpha Order Educational Foundation is located in Lexington, VA. The organization was established in 1982. 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 Alpha Order Educational Foundation 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 06/2021, Kappa Alpha Order Educational Foundation generated $4.1m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 21.7% each year . All expenses for the organization totaled $1.8m during the year ending 06/2021. While expenses have increased by 4.3% per year over the past 6 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.
Since 2015, Kappa Alpha Order Educational Foundation has awarded 19 individual grants totaling $1,139,634. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
EDUCATIONAL PROGRAM SUPPORT FOR KAPPA ALPHA ORDER
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION PROVIDES GRANTS TO KAPPA ALPHA ORDER FOR EDUCATIONAL PROGRAMS. "THE CRUSADE" PLACES EMPHASIS ON ACADEMIC EXCELLENCE, TEAM BUILDING AND LEADERSHIP. THE NUMBER I'S LEADERSHIP INSTITUTE IS AN INTENSIVE INFORMATIONAL AND EDUCATIONAL RETREAT FOR EACH KA CHAPTER'S HIGHEST OFFICER. PROVINCE COUNCILS ARE REGIONAL MEETINGS THAT ARE HELD ACROSS THE COUNTRY AND ADDRESSING ONE THIRD OF THE KA ACTIVE MEMBERSHIP. THE SUBJECT MATTER OF PROVINCE COUNCILS COVERS RISK MANAGEMENT, PERSONAL DEVELOPMENT AND SCHOLARSHIP.
SCHOLARSHIP AWARDS FOR 59 STUDENTS WERE MADE IN THE FISCAL YEAR ENDED JUNE 30, 2021. SCHOLARSHIP RECIPIENTS COMPLETE APPLICATIONS THAT INCLUDE A STATEMENT OF NEED, PERSONAL RECOMMENDATIONS, TRANSCRIPTS, PHOTOS AND OTHER MATERIAL. THE APPLICATIONS ARE SCREENED BY A COMMITTEE OF FOUNDATION TRUSTEES.
GRANTS ARE MADE FOR CHAPTER SUPPORT FOR SCHOLARSHIP ACTIVITIES AND EDUCATIONAL AREA FACILITY CONSTRUCTION. ANY SUBSTANTIAL CONSTRUCTION PROGRAMS ARE BASED ON EXTENSIVE CONTRACTS AND DOCUMENTATION OF THE QUALIFYING EDUCATIONAL PURPOSES OF THE FACILITIES.
THE FOUNDATION PROVIDES GRANTS TO KAPPA ALPHA ORDER FOR EDUCATIONAL PROGRAMS. "THE CRUSADE" PLACES EMPHASIS ON ACADEMIC EXCELLENCE, TEAM BUILDING AND LEADERSHIP. THE NUMBER I'S LEADERSHIP INSTITUTE IS AN INTENSIVE INFORMATIONAL AND EDUCATIONAL RETREAT FOR EACH KA CHAPTER'S HIGHEST OFFICER. PROVINCE COUNCILS ARE REGIONAL MEETINGS THAT ARE HELD ACROSS THE COUNTRY AND ADDRESSING ONE THIRD OF THE KA ACTIVE MEMBERSHIP. THE SUBJECT MATTER OF PROVINCE COUNCILS COVERS RISK MANAGEMENT, PERSONAL DEVELOPMENT AND SCHOLARSHIP.
SCHOLARSHIP AWARDS FOR 59 STUDENTS WERE MADE IN THE FISCAL YEAR ENDED JUNE 30, 2021. SCHOLARSHIP RECIPIENTS COMPLETE APPLICATIONS THAT INCLUDE A STATEMENT OF NEED, PERSONAL RECOMMENDATIONS, TRANSCRIPTS, PHOTOS AND OTHER MATERIAL. THE APPLICATIONS ARE SCREENED BY A COMMITTEE OF FOUNDATION TRUSTEES.
GRANTS ARE MADE FOR CHAPTER SUPPORT FOR SCHOLARSHIP ACTIVITIES AND EDUCATIONAL AREA FACILITY CONSTRUCTION. ANY SUBSTANTIAL CONSTRUCTION PROGRAMS ARE BASED ON EXTENSIVE CONTRACTS AND DOCUMENTATION OF THE QUALIFYING EDUCATIONAL PURPOSES OF THE FACILITIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry S Wiese President | Officer | 20 | $143,832 |
Derick S Close Chairman | OfficerTrustee | 0 | $0 |
David M Warren Vice President | OfficerTrustee | 0 | $0 |
C Douglas Simmons III Knight Commander | OfficerTrustee | 0 | $0 |
R Scott Health Treasurer | OfficerTrustee | 0 | $0 |
Eugene M Julian Secretary | OfficerTrustee | 0 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $158,134 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,885,886 |
| Noncash contributions included in lines 1a–1f | $914,968 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $3,044,020 |
| Total Program Service Revenue | $14,464 |
| Investment income | $221,762 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $90,000 |
| Net Gain/Loss on Asset Sales | $709,932 |
| Net Income from Fundraising Events | $36,556 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $4,116,886 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $251,870 |
| Grants and other assistance to domestic individuals. | $193,260 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $143,832 |
| Compensation of current officers, directors, key employees. | $37,540 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $374,360 |
| Pension plan accruals and contributions | $19,691 |
| Other employee benefits | $43,779 |
| Payroll taxes | $22,993 |
| Fees for services: Management | $3,233 |
| Fees for services: Legal | $12,241 |
| Fees for services: Accounting | $18,500 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $55,486 |
| Fees for services: Other | $23,096 |
| Advertising and promotion | $0 |
| Office expenses | $9,427 |
| Information technology | $209,376 |
| Royalties | $0 |
| Occupancy | $83,347 |
| Travel | $43,449 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $18,623 |
| Interest | $18,939 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $120,430 |
| Insurance | $20,560 |
| All other expenses | $3,470 |
| Total functional expenses | $1,786,873 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $806,138 |
| Savings and temporary cash investments | $15,363 |
| Pledges and grants receivable | $247,606 |
| 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 | $27,855 |
| Prepaid expenses and deferred charges | $35,121 |
| Net Land, buildings, and equipment | $2,181,779 |
| Investments—publicly traded securities | $9,097,105 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,060,870 |
| Total assets | $13,471,837 |
| Accounts payable and accrued expenses | $23,501 |
| 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 | $503,065 |
| Total liabilities | $526,566 |
| Net assets without donor restrictions | $3,289,888 |
| Net assets with donor restrictions | $9,655,383 |
| 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 | $13,471,837 |
Grants Awarded
Over the last fiscal year, Kappa Alpha Order Educational Foundation has awarded $470,000 in support to 4 organizations.
| Grant Recipient | Amount |
|---|---|
Lexington, VA PURPOSE: EDUCATIONAL PROGRAMS DESCRIBED IN FORM 990 PART III. | $205,000 |
Lexington, VA PURPOSE: EDUCATIONAL PROGRAMS DESCRIBED IN FORM 990 PART III. | $205,000 |
Fishers, IN PURPOSE: CHAPTER SUPPORT AND EDUCATION DESCRIBED IN FORM 990 PART III. | $30,000 |
Fishers, IN PURPOSE: CHAPTER SUPPORT AND EDUCATION DESCRIBED IN FORM 990 PART III. | $30,000 |
Grants Recieved
Over the last fiscal year, we have identified 26 grants that Kappa Alpha Order Educational Foundation has recieved totaling $127,531.
| Awarding Organization | Amount |
|---|---|
Foundation For The Carolinas Charlotte, NC PURPOSE: CHARITABLE GIFT | $48,843 |
American Endowment Foundation Hudson, OH PURPOSE: EDUCATIONAL | $15,000 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $13,458 |
Burke Family Foundation Inc Ponte Vedra Beach, FL PURPOSE: GENERAL FUND | $10,000 |
Roy And Gretta Hogan Foundation Wichita Falls, TX PURPOSE: LEADERSHIP INSTITUTE SUPPORT. | $10,000 |
Spartanburg County Foundation Spartanburg, SC PURPOSE: GENERAL SUPPORT | $6,000 |
Endowment Analysis
| Beg. Balance | $7,147,424 |
| Earnings | $2,008,482 |
| Admin Expense | $55,494 |
| Net Contributions | $396,467 |
| Other Expense | $399,774 |
| Ending Balance | $9,097,105 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Weachieve Inc Silver Spring, MD | $15,012,410 | $16,647,397 |
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 |
Phi Beta Kappa Society Washington, DC | $4,794,114 | $5,810,818 |
Zeta Phi Beta Sorority Inc Washington, DC | $20,915,125 | $7,582,963 |
Phi Sigma Sigma National Housing Corporation Eldersburg, MD | $5,105,404 | $4,513,250 |
Phi Beta Sigma Fraternity Inc Washington, DC | $7,959,473 | $5,690,900 |
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 |
Phi Gamma Delta Educational Foundation Lexington, KY | $23,695,128 | $3,021,786 |
Sigma Nu Educational Foundation Inc Lexington, VA | $16,834,611 | $2,302,992 |