Kappa Psi Pharmaceutical Fraternity
- Assets
- $616.6k
- Revenue
- $27.5k
- Investments
- $0.0
- Employees
- 0
- Location
- San Francisco, CA
- Founding
- 02/1964
- Data as of
- 12/2022
- EIN
- 94-3174216
Organization Overview
Kappa Psi Pharmaceutical Fraternity is located in San Francisco, CA. The organization was established in 1964. 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 a subordinate organization within an affiliated group for tax-exemption purposes. Kappa Psi Pharmaceutical Fraternity is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 12/2022, Kappa Psi Pharmaceutical Fraternity generated $27.5k 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 (5.9%) each year. All expenses for the organization totaled $36.7k during the year ending 12/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO FURTHER THE ADVANCEMENT OF THE PROFESSION OF PHARMACY EDUCATIONALLY, FRATERNALLY, AND SOCIALLY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SOCIAL EVENTS: OUR FRATERNITY CONDUCTS VARIOUS SOCIAL EVENTS, SUCH AS OUR ANNUAL BANQUET AND SPRING LUAU. THESE EVENTS ALLOW OUR MEMBERS TO NETWORK WITH ALUMNI AND STRENGTHEN THE RELATIONSHIPS BETWEEN THE BROTHERS OF OUR FRATERNITY. A SMALL FEE IS CHARGED TO OUR MEMBERS TO HELP PAY FOR THE COST OF THE EVENT. EXPENSES ARE GENERATED FROM FOOD, ROOM RESERVATIONS AND OTHER MATERIALS.
HOUSING EVENTS: THE HOUSE IS SERVED AS MEETING AND BOARDING ROOMS WITH LIVING ACCOMODATIONS. THE HOUSE IS PAID FOR ENTIRELY BY THE ACTIVE MEMBERS OF THE FRATERNITY WHO ARE RENTING AND A COMMERCIAL LOAN FROM EAST WEST BANK. THE WALLS OF THE HOUSE IS DECORATED WITH PICTURES OF PAST CHAPTER EVENTS, AWARDS AND TROPHIES, DECORATIVE (OR HISTORIC) PADDLES, OR COMPOSITE PHOTOS OF MEMBERS FROM PAST YEARS. THE FRATERNITY MAINTAINS A CHAPTER ROOM WHERE MEMBERS PLAN FOR MEETINGS AND OTHER SOCIAL EVENTS TO NETWORK WITH ALUMNI AND STRENGTHEN THE RELATIONSHIPS BETWEEN THE BROTHERS OF OUR FRATERNITY. EXPENSES ARE THE ALL ORDINARY AND NECESSARY COSTS TO MAINTAIN THE HOUSE SUCH AS MORTGAGE INTEREST, REPAIRS AND MAINTENANCE, PROPERTY TAXES AND UTILITIES.
PLEDGING EVENTS: EVERY YEAR OUR ORGANIZATION RECRUITS NEW STUDENTS TO JOIN OUR FRATERNITY. THOSE WHO ARE INTERESTED IN JOINING MUST COMPLETE OUR PLEDGING PROCESS WHICH INCLUDES ACTIVITIES THAT MUST BE COMPLETED IN ORDER TO BE INITIATED AS A BROTHER OF KAPPA PSI. THESE ACTIVITIES AND EVENTS ARE AIMED AT BUILDING BROTHERHOOD AND TEACHING THE PLEDGES ABOUT THE IMPORTANCE OF OUR ORGANIZATION. FOR EXAMPLE, THE PLEDGES MUST WEAR PINS DESIGNATING THEM AS PLEDGES AND ATTEND REQUIRED COMMUNITY SERVICE ACTIVITIES. THE REVENUE CREATED FROM THIS PROGRAM SERVICE COMES FROM NOMINAL FEES USED TO FUND THE EVENTS AND EXPENSES INCURRED ARE PRIMARILY COMPOSED OF ROOM RESERVATIONS, FOOD, PLEDGE SHIRTS, PLEDGE PINS AND WRITTEN MATERIALS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
George Alfahrat Regent | Officer | 15 | $0 |
Triet Ngo Vice-Regent Academic | Officer | 8 | $0 |
Fiona Vice-Regent Social | Officer | 5 | $0 |
Laura Huynh Treasurer | Officer | 10 | $0 |
Alison Newens Secretary | Officer | 8 | $0 |
Aya Ide Rush/pledge Coordinator | Officer | 10 | $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 | $27,528 |
| 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 | $27,530 |
| 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 | $9,646 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $36,747 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $33,300 |
| Savings and temporary cash investments | $4,224 |
| 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 | $579,030 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $616,554 |
| 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 | $192,034 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $192,034 |
| Net assets without donor restrictions | $424,520 |
| 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 | $616,554 |