Iowa State Acacia Chapter Foundation
- Assets
- $324.8k
- Revenue
- $377.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Ankeny, IA
- Founding
- Data as of
- 12/2021
- EIN
- 84-3719027
Organization Overview
Iowa State Acacia Chapter Foundation is located in Ankeny, IA. 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. Iowa State Acacia Chapter 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, Iowa State Acacia Chapter Foundation generated $377.3k in total revenue.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO RAISE FUNDS TO BUILD AND MAINTAIN A CHAPTER HOUSE OF THE IOWA STATE CHAPTER OF ACACIA FRATERNITY AND TO PROVIDE SCHOLARSHIPS FOR THE MEMBERS OF IOWA STATE CHAPTER OF ACACIA FRATERNITY
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION WAS ABLE TO RAISE FUNDS FOR THE TAX-DEDUCTIBLE PORTION OF THE CHAPTER HOUSE THAT IS DEFINED AS "EDUCATIONAL USE" BY THE IRS. IN THE CALENDER YEAR 2021 THE FOUNDATION PAID $327,849 OF THE FUNDS THAT IT RECEIVED TOWARDS THESE COSTS.
THE FOUNDATION PAID FOR PUBLICATIONS DESCRIBING THE USE OF THE FUNDS THAT WERE RAISED WHICH WERE MAILED TO THE ALUMNI OF THE FRATERNITY. THESE PUBLICATIONS WERE DESIGNED TO PROVIDE THE ALUMNI WITH INFORMATION ON THE NEW CHAPTER HOUSE AND HOW THE FUNDS DONATED BY THE ALUMNI WERE USED IN ITS CONSTRUCTION. ADDITIONAL INFORMATION WAS INCLUDED THAT INVITED ALUMNI WHO HAD NOT CONTRIBUTED WITH INFORMATION ON ADDITIONAL PROGRAMS WHICH THEY COULD SUPPORT WITH DONATIONS.
THESE EXPENSES WERE COMMISSIONS PAID FOR THE PURCHASE OF MUTUAL FUNDS FOR ENDOWED ACCOUNTS ESTABLISHED BY THE FOUNDATION. THESE FUNDS WERE PAID TO THE MUTUAL FUND COMPANIES.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
James H Davis President | OfficerTrustee | 10 | $0 |
Gene D Lucht Vice President | OfficerTrustee | 2 | $0 |
Harold D Zarr Jr Secretary Treasurer | OfficerTrustee | 10 | $0 |
John T Lynch At Large Director | Trustee | 2 | $0 |
Richard W Taylor At Large Director | Trustee | 2 | $0 |
Craig A Buske At Large Director | Trustee | 2 | $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 | $360,186 |
| Noncash contributions included in lines 1a–1f | $118,738 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $360,186 |
| Total Program Service Revenue | $0 |
| Investment income | $15,476 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,634 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $377,296 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $327,849 |
| 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 | $1,079 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $328,928 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $6,456 |
| Savings and temporary cash investments | $3,035 |
| 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 | $315,289 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $324,780 |
| 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 | $9,491 |
| Net assets with donor restrictions | $315,289 |
| 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 | $324,780 |
Endowment Analysis
| Beg. Balance | $16,284 |
| Earnings | $11,508 |
| Net Contributions | $287,497 |
| Ending Balance | $315,289 |
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