Alpha Delta Foundation
- Assets
- $699.0k
- Revenue
- $683.8k
- Investments
- $5.1k
- Employees
- 0
- Location
- Raleigh, NC
- Founding
- Data as of
- 12/2021
- EIN
- 84-4755084
Organization Overview
Alpha Delta Foundation is located in Raleigh, NC. 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 Delta 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 12/2021, Alpha Delta Foundation generated $683.8k in total revenue. All expenses for the organization totaled $19.4k during the year ending 12/2021. While expenses have increased by 258.1% per year over the past 2 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
THE CORPORATION WAS FORMED TO PROMOTE EDUCATION BY THE GRANT OF AWARDS SCHOLARSHIPS TO PERSONS WHO ARE FULL-TIME UNDERGRADUATE STUDENTS IN GOOD STANDING AT THE UNIVERSITY OF NORTH CAROLINA CHAPEL HILL WITH PREFERENCE TO SUCH PERSON WHO ARE MEMBERS OF THE ALPHA DELTA CHAPTER OF THE ALPHA TAU OMEGA FRATERNITY, BASED UPON SUCH ELIGIBILITY CRITERIA AND SELECTION CRITERIA AS MAY BE APPROVED FROM TIME-TO-TIME BY THE CORPORATION'S BOARD OF DIRECTORS. THE PURPOSE OF THE SCHOLARSHIP AWARDS IS TO PROMOTE AND REWARD THE VALUES OF ACADEMIC ACHIEVEMENT AND SERVICE TO THE CHAPTER, THE UNIVERSITY, AND THE BROADER COMMUNITY, AND TO SERVE AS A BEACON TO ATTRACT TO THE FRATERNITY YOUNG MEN WHO SHARE THESE VALUES.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ORGANIZATION INTERVIEWED CANDIDATES FOR THE PURPOSE OF AWARDING SCHOLARSHIPS TO APPLICANTS THAT MEET THE CRITERIA STATED IN THE MISSION OF THE ORGANIZATION.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
John R Gardner President | OfficerTrustee | 2 | $0 |
Justin Plummer Vice President | OfficerTrustee | 2 | $0 |
Edward T Shipley III Treasurer And Secretary | OfficerTrustee | 2 | $0 |
Edmund S Burke Director | Trustee | 1 | $0 |
H Spencer Everett Jr Director | Trustee | 1 | $0 |
Thomas S Kenan III 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 | $665,561 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $665,561 |
| Total Program Service Revenue | $0 |
| Investment income | $6,312 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $11,909 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $683,782 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $13,000 |
| 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 | $3,522 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $1,250 |
| 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 | $1,652 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $19,424 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $18,819 |
| 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 | $0 |
| Investments—publicly traded securities | $675,129 |
| Investments—other securities | $5,095 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $699,043 |
| 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 | $699,043 |
| 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 | $699,043 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Alpha Delta Foundation has recieved totaling $280,000.
| Awarding Organization | Amount |
|---|---|
Alpha Tau Omega Foundation Indianapolis, IN PURPOSE: REQUEST TO REMOVE MONEY FROM ATO FOUNDATION INTO LOCAL FOUNDATION | $253,800 |
Schwab Charitable Fund San Francisco, CA PURPOSE: EDUCATION | $26,200 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Beemok Family Foundation Charleston, SC | $51,753,352 | $227,490 |
Golf Club Of Tennessee Kingston Springs, TN | $25,072,540 | $8,179,428 |
Watson-Brown Foundation Inc Thomson, GA | $0 | $9,697,974 |
National Consortium For Graduate Dgrs Minorities In Engineering Alexandria, VA | $15,486,907 | $10,356,249 |
Laura Holland Uzzell Foundation Morrisville, NC | $14,769,987 | $6,660,101 |
Alef Fund Inc Atlanta, GA | $10,107,377 | $6,194,898 |
Bill And Carol Latimer Charitable Foundation Union City, TN | $129,837,485 | $34,799,223 |
Chi Omega Foundation Memphis, TN | $45,483,838 | $7,373,045 |
University Of West Georgia Foundation Inc Carrollton, GA | $86,140,941 | $10,389,838 |
Memphis Teacher Residency Inc Memphis, TN | $5,540,031 | $6,575,161 |
South Carolina Educational Credit For Exceptional Needs Children Fun Columbia, SC | $1,181,238 | $5,546,279 |
Coca-Cola Scholars Foundation Inc Atlanta, GA | $71,605,468 | $31,599,185 |