Epsilon Gamma Corporation
- Assets
- $1.2m
- Revenue
- $456.9k
- Investments
- $0.0
- Employees
- 2
- Location
- Chapel Hill, NC
- Founding
- 11/1972
- Data as of
- 06/2023
- EIN
- 23-7242564
Organization Overview
Epsilon Gamma Corporation, operating under the name Kappa Kappa Gamma, is located in Chapel Hill, NC. The organization was established in 1972. According to its NTEE Classification (B83) the organization is classified as: Student Sororities & Fraternities, under the broad grouping of Education and related organizations. As of 06/2023, Kappa Kappa Gamma employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Kappa Kappa Gamma is a 501(c)(7) and as such, is described as a "Social and Recreational Club" by the IRS.
For the year ending 06/2023, Kappa Kappa Gamma generated $456.9k in total revenue. This represents a relatively dramatic decline in revenue. Over the past 8 years, the organization has seen revenues fall by an average of (3.1%) each year. All expenses for the organization totaled $474.4k during the year ending 06/2023. As we would expect to see with falling revenues, expenses have declined by (1.0%) per year over the past 8 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE FACILITIES AND RELATED NECESSARY SERVICES TO COLLEGIATE MEMBERS OF THE KAPPA KAPPA GAMMA SORORITY AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL
Describe the Organization's Program Activity:
Part 3 - Line 4a
TO PROVIDE FACILITIES AND THE RELATED NECESSARY SERVICES TO COLLEGIATE MEMBERS OF THE KAPPA KAPPA GAMMA SORORITY AT THE UNIVERSITY OF NORTH CAROLINA AT CHAPEL HILL. DURING THE FISCAL YEAR APPROXIMATELY 100 MEMBERS WERE SERVED. IN ADDITION TO NORMAL MAINTENANCE ON THE HOUSES AND SERVICES FOR THE MEMBERS, THIS PAST YEAR WE ALSO UPDATED THE HOUSE DIRECTORS APARTMENT TO BE A MORE SECURE AND SUITABLE LIVING SPACE. ADDITIONALLY, THE BOARD HAS BEEN RESEARCHING AND COLLABORATING WITH OTHER GROUPS/SERVICES ON CAMPUS TO FIND OTHER SOURCES OF REVENUE FOR THE SORORITY, AS MEMBERSHIP HAS BEEN DECLINING. THIS WILL NOT ONLY BRING SOME POTENTIAL FINANCIAL STABILITY FOR THE 2024-25 SCHOOL YEAR BUT ALSO WORK ON BUILDING STRONG RELATIONSHIPS WITH OTHER CAMPUS GROUPS AND THE COMMUNITY AT LARGE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Amy Lovato President | OfficerTrustee | 5 | $0 |
Veronica Butler Vice President | OfficerTrustee | 4 | $0 |
Lauren Ng Treasurer | OfficerTrustee | 4 | $0 |
Jennifer Hamrick Secretary | OfficerTrustee | 1 | $0 |
Claire Graja Member At-Large | Trustee | 0.25 | $0 |
Carol Kendrick Member At-Large | Trustee | 0.25 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $35,859 |
| All other contributions, gifts, grants, and similar amounts not included above | $650 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $36,509 |
| Total Program Service Revenue | $418,037 |
| Investment income | $2,349 |
| 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 | $456,895 |
| 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 | $235,620 |
| 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 | $70,029 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $704 |
| Payroll taxes | $8,677 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,063 |
| 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 | $1,146 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $125,691 |
| 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 | $28,389 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $474,352 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $209,042 |
| Savings and temporary cash investments | $330,042 |
| 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 | $708,248 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,247,332 |
| Accounts payable and accrued expenses | $1,378 |
| 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 | $1,378 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $1,245,954 |
| 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 | $1,247,332 |