Civic Intelligence

Alpha Kappa Alpha Educational Advancement Foundation Inc.

990 • Fiscal year 2021 • EIN 36-3104692

Jan 01, 2021 to Dec 31, 2021 • Filed on Nov 15, 2022

Organization ProfileWWW.AKAEAF.ORG
5656 S Stony Island Avenue 3 FlrChicago, IL 60637

(773) 947-0026

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

38th percentile

0.11x

Higher debt load relative to assets than 38% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Liabilities / Revenue

63rd percentile

0.45x

Higher debt load relative to revenue than 63% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Net Margin

86th percentile

49%

Higher net margin than 86% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Top Officer Pay

20th percentile

$138,043

Higher top officer pay than 20% of similar nonprofits.

Top officer pay equals 2.0% of source-year revenue.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2021

Asset Growth

78th percentile

24%

Faster asset growth than 78% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Revenue Growth

20th percentile

-6.5%

Faster revenue growth than 20% of similar nonprofits.

2021 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets38th percentile

Assets

Up

$28,330,227

Up $5,527,391 (+24%) from 2020

Net Assets

Up

$25,272,177

Up $3,379,170 (+15%) from 2020

Liabilities

Up

$3,058,050

Up $2,148,221 (+236%) from 2020

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin86th percentile

Revenue

Down

$6,779,313

Down $467,730 (-6.5%) from 2020

Expenses

Up

$3,449,195

Up $253,693 (+7.9%) from 2020

Net Income

Down

$3,330,118

Down $721,423 (-18%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth78th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$30M$20M$10M$0Assets 2015: $10,231,400Liabilities 2015: $87,443Net Assets 2015: $10,143,9572015Assets 2016: $11,405,950Liabilities 2016: $92,188Net Assets 2016: $11,313,7622016Assets 2017: $13,449,001Liabilities 2017: $86,705Net Assets 2017: $13,362,2962017Assets 2018: $14,812,581Liabilities 2018: $109,475Net Assets 2018: $14,703,1062018Assets 2019: $165,622Liabilities 2019: $165,622Net Assets 2019: $02019Assets 2020: $22,802,836Liabilities 2020: $909,829Net Assets 2020: $21,893,0072020Assets 2021: $28,330,227Liabilities 2021: $3,058,050Net Assets 2021: $25,272,1772021Assets 2022: $22,974,963Liabilities 2022: $462,669Net Assets 2022: $22,512,2942022Assets 2023: $27,452,066Liabilities 2023: $135,040Net Assets 2023: $27,317,0262023Assets 2024: $29,762,947Liabilities 2024: $110,749Net Assets 2024: $29,652,1982024

Highlighted filing

2021

Assets$28,330,227
Liabilities$3,058,050
Net Assets$25,272,177
Open 2021 Filing

Operations Trend

Revenue Growth20th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$10M$5.0M$0-$5.0MRevenue 2015: $2,307,312Expenses 2015: $1,400,784Net Income 2015: $906,5282015Revenue 2016: $3,116,009Expenses 2016: $1,573,744Net Income 2016: $1,542,2652016Revenue 2017: $2,855,044Expenses 2017: $1,528,153Net Income 2017: $1,326,8912017Revenue 2018: $3,429,290Expenses 2018: $2,086,508Net Income 2018: $1,342,7822018Revenue 2019: $02019Revenue 2020: $7,247,043Expenses 2020: $3,195,502Net Income 2020: $4,051,5412020Revenue 2021: $6,779,313Expenses 2021: $3,449,195Net Income 2021: $3,330,1182021Revenue 2022: $4,755,704Expenses 2022: $7,382,378Net Income 2022: -$2,626,6742022Revenue 2023: $7,591,736Expenses 2023: $2,787,004Net Income 2023: $4,804,7322023Revenue 2024: $7,196,721Expenses 2024: $4,861,549Net Income 2024: $2,335,1722024

Highlighted filing

2021

Revenue$6,779,313
Expenses$3,449,195
Net Income$3,330,118
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jan 1, 2021 to Dec 31, 2021
Signed
Nov 15, 2022
Return Version
2021v4.1
Gross Receipts
$6,779,313
Mission and Program Overview

Mission

The alpha kappa alpha educational advancement foundation inc. Was established to ensure perpetual support of alpha kappa alpha sorority inc.'s commitment to education and lifelond learning through awarding of grants, fellowships and scholarsips.

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.

Balance Sheet Detail
LineBeginningEndChange
Assets
Cash and Non-Interest-Bearing Accounts$4,043,750$5,146,540▲ $1,102,790
Inventories for Sale or Use$98,435$146,594▲ $48,159
Land, Buildings, and Equipment, Net$77,276$67,671▼ $9,605
Accounts Receivable$26,830$9,301▼ $17,529
Prepaid Expenses and Deferred Charges$29,043$743▼ $28,300
Savings and Temporary Cash Investments-$0-
Other Notes and Loans Receivable, Net-$0-
Pledges and Grants Receivable-$0-
Receivable From Disqualified Prsn-$0-
Receivables From Officers Etc-$0-
Investments Other Securities-$0-
Investments Program Related-$0-
Investments in Publicly Traded Securities-$0-
Intangible Assets-$0-
Total Assets$22,802,836$28,330,227▲ $5,527,391
Other Assets Total$18,527,502$22,959,378▲ $4,431,876
Liabilities
Deferred Revenue$680,853$2,861,090▲ $2,180,237
Accounts Payable and Accrued Expenses$179,714$153,105▼ $26,609
Other Liabilities$32,560$33,427▲ $867
Unsecured Notes Loans Payable$16,702$10,428▼ $6,274
Total Liabilities$909,829$3,058,050▲ $2,148,221
Net Assets / Fund Balance
Net Assets With Donor Restrictions$14,760,797$15,370,014▲ $609,217
Net Assets Without Donor Restrictions$7,132,210$9,902,163▲ $2,769,953
Total Net Assets Fund Balance$21,893,007$25,272,177▲ $3,379,170
Total Liabilities and Net Assets / Fund Balance$22,802,836$28,330,227▲ $5,527,391

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings$31,591$18,537-
Equipment$36,080$175,803-
Compensation and Service Providers
Top Officer Pay20th percentile

Employees

NameTitleFull / Part TimeBaseTotal
Erika V EverettExecutive DirectorFT$138,043$138,043

Board Members and Trustees

NameTitle
Dr Glenda GloverPresident
Challis LoweDirector
Joyce Anne Hanks MooreheadDirector
Kay ScottDirector
Phyillis JonesDirector
Terri Bradford EasonDirector
Danette Anthony Reed1st VP
Jasmyne E Mccoy2nd VP
Dorothy Buckhanan Wilson3rd VP
Chelle Luper WilsonSecretary
Gayle P Miles-scottTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$4,140,340
Program Service Revenue
$18,685
Investment Income
$2,620,288
Other Revenue
$0
All Other Contributions
$3,231,427
Change in Net Assets
$3,330,118

Audited Revenue Reconciliation

Revenue per Audited Statements
$6,779,313
Total Revenue per Audited Statements
$6,779,313
Total Revenue per Form 990
$6,779,313
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,754,054
Salaries, Compensation, and Employee Benefits$695,141
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$509,521$47,577-$557,098
Fees for Service Investment Mgmnt Fees$231,961--$231,961
Current Officers, Directors, Trustees, and Key Employees$127,000$11,043-$138,043
All Other Expenses$95,084$5,994-$101,078
Other Expenses$74,702$4,817-$74,702
Fees for Services Other$44,587$8,190-$52,777
Conferences and Meetings$30,863$14,176-$45,039
Occupancy$33,000--$33,000
Depreciation Depletion$11,179--$11,179
Office Expenses$6,866$3,564-$10,430
Insurance-$6,151-$6,151
Advertising$2,204--$2,204
Interest-$867-$867
Total Functional Expenses$3,346,816$102,379$0$3,449,195

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,449,195
Total Expenses per Audited Statements$3,449,195
Total Expenses per Form 990$3,449,195
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Insider Transactions and Loans

Loans and Receivables

Line ItemBeginningEndChange
Receivables from Disqualified Persons-$0-
Receivables from Officers, Directors, Trustees, and Key Employees-$0-
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Scholarships Payable$33,427
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Line 6: Explanation of Classes of Members or Shareholder

“Bylaws - article ii, section 1 - the foundation has two classes of members: 1) regular members - all members of aka sorority, inc. In good standing who contribute a minimum of $10.00 to the foundation by january 1 of each year shall be regular members of the foundation. 2) honorary members - individuals who have been nominated by the foundations's nominating committee and elected by the board of directors shall be eligible for honorary membership. Each regular member shall be entitled to one vote on each matter submitted.”

Form 990, Part VI, Line 7A: How Members or Shareholders Elect Governing Body

“Bylaws - article iii - meeting of members: section 1) annual meeting - an annual meeting of the members shall be held in july of each year for the transaction of any business that may be brought before the members. Section 2) special meeting - a special meeting of the members may be called by the president, or by any five members of the board of directors. Section 6) qourum - a qourum shall consist of six members of the board of directors and 50 or more regular members.”

Form 990, Part VI, Line 11B: Form 990 Review Process

“No review was or will be conducted.”

Form 990, Part VI, Line 19: Other Organization Documents Publicly Available

“No documents available to the public.”

Filing and Contact Details

Filer

Filer Name
Alpha Kappa Alpha Educational
EIN
36-3104692
Phone
7739470026
Address
5656 S STONY ISLAND AVENUE 3 FLR, CHICAGO, IL 60637

Signing Officer

Name
Erika Everett
Title
Executive Director
Signed
2022-11-15
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Erika V Everett
Formed
1980
Legal Domicile
Il
Voting Board Members
12
Independent Board Members
11
Employees
7
Volunteers
10

Preparer

Firm
Ragland Arnold Buchanan Morris & Associ
Address
9457 Enterprise Drive, Mokena, IL 60448
Preparer
Lyle Morris
Phone
7083330634
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IRS990/MinutesOfCommitteesInd0true
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IRS990/OfficeExpensesGrp/ProgramServicesAmt06866
IRS990/OfficeExpensesGrp/TotalAmt010430
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsFASB117Ind0X
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IRS990/OtherAssetsTotalGrp/EOYAmt022959378
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IRS990/OtherExpensesGrp/Desc1SCHOLARSHIPS, AWARDS AND GRANT
IRS990/OtherExpensesGrp/Desc2BANK SERVICE CHARGES
IRS990/OtherExpensesGrp/Desc3REPAIRS & MAINTENANCE
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt04817
IRS990/OtherExpensesGrp/ProgramServicesAmt01668500
IRS990/OtherExpensesGrp/ProgramServicesAmt1438776
IRS990/OtherExpensesGrp/ProgramServicesAmt272573
IRS990/OtherExpensesGrp/ProgramServicesAmt374702
IRS990/OtherExpensesGrp/TotalAmt01668500
IRS990/OtherExpensesGrp/TotalAmt1438776
IRS990/OtherExpensesGrp/TotalAmt277390
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IRS990/OtherSalariesAndWagesGrp/ManagementAndGeneralAmt047577
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IRS990/OtherSalariesAndWagesGrp/TotalAmt0557098
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IRS990/PartialLiquidationInd0false
IRS990/PaymentsToAffiliatesGrp/TotalAmt00
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PayrollTaxesGrp/TotalAmt00
IRS990/PensionPlanContributionsGrp/TotalAmt00
IRS990/PledgesAndGrantsReceivableGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd0false
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IRS990/PrepaidExpensesDefrdChargesGrp/EOYAmt0743
IRS990/PrincipalOfficerNm0ERIKA V EVERETT
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IRS990/ProfessionalFundraisingInd0false
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IRS990/ProgramServiceRevenueGrp/RelatedOrExemptFuncIncomeAmt018685
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IRS990/ProhibitedTaxShelterTransInd0false
IRS990/PYContributionsGrantsAmt04879061
IRS990/PYExcessBenefitTransInd0false
IRS990/PYInvestmentIncomeAmt02367982
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IRS990/PYOtherExpensesAmt02603301
IRS990/PYRevenuesLessExpensesAmt04051541
IRS990/PYSalariesCompEmpBnftPaidAmt0592201
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IRS990/QuidProQuoContributionsInd0false
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IRS990/RcvFndsToPayPrsnlBnftCntrctInd0false
IRS990/ReceivablesFromOfficersEtcGrp/EOYAmt00
IRS990/ReconcilationRevenueExpnssAmt03330118
IRS990/RegularMonitoringEnfrcInd0true
IRS990/RelatedEntityInd0true
IRS990/RelatedOrganizationCtrlEntInd0false
IRS990/ReportInvestmentsOtherSecInd0false
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0true
IRS990/ReportOtherLiabilitiesInd0true
IRS990/ReportProgramRelatedInvstInd0false
IRS990/RevenueAmt06779313
IRS990/RoyaltiesGrp/TotalAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/SavingsAndTempCashInvstGrp/EOYAmt00
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IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearAmt01792147
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus1YearAmt01645579
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus2YearsAmt05902524
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus3YearsAmt03239319
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/CurrentTaxYearMinus4YearsAmt01382436
IRS990ScheduleA/GiftsGrantsContrisRcvd509Grp/TotalAmt013962005
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus2YearsAmt0870652
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IRS990ScheduleA/GrossReceiptsAdmissionsGrp/CurrentTaxYearMinus4YearsAmt0725124
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IRS990ScheduleA/InvestmentIncomePYPct00.00120
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IRS990ScheduleA/OtherIncome509Grp/TotalAmt010045064
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IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus3YearsAmt04049234
IRS990ScheduleA/Total509Grp/CurrentTaxYearMinus4YearsAmt02107560
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IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus3YearsAmt04049234
IRS990ScheduleA/TotalSupportCalendarYearGrp/CurrentTaxYearMinus4YearsAmt02107560
IRS990ScheduleA/TotalSupportCalendarYearGrp/TotalAmt026956326
IRS990/ScheduleBRequiredInd0false
IRS990ScheduleD/EquipmentGrp/BookValueAmt036080
IRS990ScheduleD/EquipmentGrp/DepreciationAmt0175803
IRS990ScheduleD/EquipmentGrp/InvestmentCostOrOtherBasisAmt0211883
IRS990ScheduleD/ExpensesSubtotalAmt03449195
IRS990ScheduleD/OtherLandBuildingsGrp/BookValueAmt031591
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt018537
IRS990ScheduleD/OtherLandBuildingsGrp/InvestmentCostOrOtherBasisAmt050128
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt033427
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0SCHOLARSHIPS PAYABLE
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IRS990ScheduleD/TotalBookValueLandBuildingsAmt067671
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IRS990ScheduleD/TotalExpensesPerForm990Amt03449195
IRS990ScheduleD/TotalLiabilityAmt033427
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Filings

Displayed year

2021 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$28,330,227
Liabilities
$3,058,050
Net assets
$25,272,177
Revenue
$6,779,313
Expenses
$3,449,195
Net income
$3,330,118
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2024Detailed filing. Detailed filing data is available for this year.$29.8$0.11$29.7$7.20$4.86$2.34
2023Detailed filing. Detailed filing data is available for this year.$27.5$0.14$27.3$7.59$2.79$4.80
2022Detailed filing. Detailed filing data is available for this year.$23.0$0.46$22.5$4.76$7.38$2.63
2021Detailed filing. Detailed filing data is available for this year.$28.3$3.06$25.3$6.78$3.45$3.33
2020Facts available. Structured filing facts are available, but richer extracted sections are limited.$22.8$0.91$21.9$7.25$3.20$4.05
2019Detailed filing. Detailed filing data is available for this year.$0.17$0.17$0.00$0.00
2018Detailed filing. Detailed filing data is available for this year.$14.8$0.11$14.7$3.43$2.09$1.34
2017Detailed filing. Detailed filing data is available for this year.$13.4$0.09$13.4$2.86$1.53$1.33
2016Detailed filing. Detailed filing data is available for this year.$11.4$0.09$11.3$3.12$1.57$1.54
2015Detailed filing. Detailed filing data is available for this year.$10.2$0.09$10.1$2.31$1.40$0.91
Peer Organizations

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