Alpha Kappa Alpha Educational Advancement Foundation Inc
- Assets
- $28.3m
- Revenue
- $6.8m
- Investments
- $0.0
- Employees
- 7
- Location
- Chicago, IL
- Founding
- 03/1981
- Data as of
- 12/2021
- EIN
- 36-3104692
Organization Overview
Alpha Kappa Alpha Educational Advancement Foundation Inc is located in Chicago, IL. The organization was established in 1981. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 12/2021, Alpha Kappa Alpha Educational Advancement Foundation Inc employed 7 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Alpha Kappa Alpha Educational Advancement Foundation Inc 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 Kappa Alpha Educational Advancement Foundation Inc generated $6.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 16.6% each year . All expenses for the organization totaled $3.4m during the year ending 12/2021. While expenses have increased by 13.7% per year over the past 7 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 ALPHA KAPPA ALPHA EDUCTIONAL ADVANCEMENT FOUNDTION, INC. WAS ESTABLISHED TO ENSURE PERPETURAL SUPPORT OF ALPHA KAPPA ALPHA SORORITY INC.'S COMMITMENT TO EDUCATION AND LIFELONG LEARNING THROUGH AWARDING OF GRANTS, FELLOWSHIPS AND SCHOLARSHIPS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
AWARDING OF GRANTS, FELLOWSHIPS AND SCHOLARSHIPS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erika V Everett Executive Dir. | Officer | 40 | $138,043 |
Jasmyne E Mccoy 2nd VP | Trustee | 10 | $0 |
Gayle P Miles-Scott Treasurer | Trustee | 10 | $0 |
Kay Scott Director | Trustee | 10 | $0 |
Dr Glenda Glover President | Trustee | 10 | $0 |
Chelle Luper Wilson Secretary | Trustee | 10 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $908,913 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $3,231,427 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $4,140,340 |
| Total Program Service Revenue | $18,685 |
| Investment income | $2,620,288 |
| 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 | $6,779,313 |
| 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. | $138,043 |
| Compensation of current officers, directors, key employees. | $11,043 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $557,098 |
| 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 | $231,961 |
| Fees for services: Other | $52,777 |
| Advertising and promotion | $2,204 |
| Office expenses | $10,430 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $33,000 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $45,039 |
| Interest | $867 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $11,179 |
| Insurance | $6,151 |
| All other expenses | $101,078 |
| Total functional expenses | $3,449,195 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $5,146,540 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $9,301 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $146,594 |
| Prepaid expenses and deferred charges | $743 |
| Net Land, buildings, and equipment | $67,671 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $22,959,378 |
| Total assets | $28,330,227 |
| Accounts payable and accrued expenses | $153,105 |
| Grants payable | $0 |
| Deferred revenue | $2,861,090 |
| 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 | $10,428 |
| Other liabilities | $33,427 |
| Total liabilities | $3,058,050 |
| Net assets without donor restrictions | $9,902,163 |
| Net assets with donor restrictions | $15,370,014 |
| 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 | $28,330,227 |
Grants Recieved
Over the last fiscal year, we have identified 26 grants that Alpha Kappa Alpha Educational Advancement Foundation Inc has recieved totaling $163,324.
| Awarding Organization | Amount |
|---|---|
Give Back Foundation Madison, WI PURPOSE: PROGRAM SUPPORT | $60,859 |
American Online Giving Foundation Inc Newark, DE PURPOSE: GENERAL SUPPORT | $58,895 |
Network For Good Inc Washington, DC PURPOSE: UNRESTRICTED | $16,049 |
Charities Aid Foundation America Alexandria, VA PURPOSE: CHARITABLE DONATION | $11,350 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $5,549 |
Ladies Of Vision Charities Windsor Mill, MD PURPOSE: TO SUPPORT THE ORGANIZATION OBTAIN SEED MONEY TO TRANSFORM AN IDEA INTO A REALITY, OR START OR COMPLETE A RESEARCH PROJECT. | $5,268 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Future Leaders Of Americafoundation Inc Chicago, IL | $0 | $13,517,008 |
Kansas City Scholars Inc Kansas City, MO | $5,810,030 | $12,156,402 |
Des Moines Golf And Country Club West Des Moines, IA | $24,329,403 | $13,657,003 |
Ray And Kay Eckstein Charitable Trust Paducah, KY | $358,796,277 | $128,951,866 |
Professional Convention Management Association Chicago, IL | $13,503,434 | $11,522,188 |
Sigma Chi Foundation Evanston, IL | $40,441,719 | $12,690,646 |
AbbVie Employee Assistance Fund Inc North Chicago, IL | $0 | $8,759,468 |
Scholarship Foundation Of St Louis St Louis, MO | $49,025,721 | $11,563,775 |
Alfred I Dupont Awards Foundation Chicago, IL | $0 | $4,985,997 |
Accenture Foundation Inc Chicago, IL | $134,926,823 | $15,596,009 |
Rooted Alliance Inc Chicago, IL | $2,335,555 | $4,487,602 |
Rsm Us Foundation Davenport, IA | $13,920,904 | $7,669,329 |