Civic Intelligence

Lambda of Kappa Alpha Theta Inc

990 • Fiscal year 2015 • EIN 45-2635136

Jul 01, 2014 to Jun 30, 2015 • Filed on Dec 03, 2015

8740 Founders RoadIndianapolis, IN 46268

(317) 876-8593

Siviq Scores

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

Liabilities / Assets

79th percentile

0.64x

Higher debt load relative to assets than 79% of similar nonprofits.

2015 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2015

Liabilities / Revenue

96th percentile

4.48x

Higher debt load relative to revenue than 96% of similar nonprofits.

2015 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2015

Net Margin

69th percentile

10%

Higher net margin than 69% of similar nonprofits.

2015 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2015

Top Officer Pay

100th percentile

$237,897

Higher top officer pay than 100% of similar nonprofits.

Top officer pay equals 153.5% of source-year revenue.

2015 filings • 501(c)7 • $1M-$5M nonprofits • Source year 2015

Asset Growth

44th percentile

-0.7%

Faster asset growth than 44% of similar nonprofits.

2015 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Revenue Growth

6th percentile

-22%

Faster revenue growth than 6% of similar nonprofits.

2015 filings • 501(c)7 • $1M-$5M nonprofits • Annualized from 2014 to 2015

Assets

Down

$1,088,800

Down $7,128 (-0.7%) from 2014

Net Assets

Up

$393,976

Up $15,980 (+4.2%) from 2014

Liabilities

Down

$694,824

Down $23,108 (-3.2%) from 2014

Revenue

Down

$155,032

Down $42,799 (-22%) from 2014

Expenses

Down

$139,052

Down $73,186 (-34%) from 2014

Net Income

Up

$15,980

Up $30,387 (+211%) from 2014

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2011: $70,120Liabilities 2011: $5,0062011Assets 2012: $1,034,519Liabilities 2012: $668,589Net Assets 2012: $365,9302012Assets 2013: $1,024,448Liabilities 2013: $632,045Net Assets 2013: $392,4032013Assets 2014: $1,095,928Liabilities 2014: $717,932Net Assets 2014: $377,9962014Assets 2015: $1,088,800Liabilities 2015: $694,824Net Assets 2015: $393,9762015Assets 2016: $1,110,270Liabilities 2016: $669,722Net Assets 2016: $440,5482016Assets 2017: $1,087,478Liabilities 2017: $643,774Net Assets 2017: $443,7042017Assets 2018: $0Liabilities 2018: $0Net Assets 2018: $02018

Highlighted filing

2015

Assets$1,088,800
Liabilities$694,824
Net Assets$393,976

Operations Trend

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

$300K$200K$100K$0-$100KRevenue 2011: $70,538Expenses 2011: $5,424Net Income 2011: $65,1142011Expenses 2012: $149,6552012Revenue 2013: $171,600Expenses 2013: $145,127Net Income 2013: $26,4732013Revenue 2014: $197,831Expenses 2014: $212,238Net Income 2014: -$14,4072014Revenue 2015: $155,032Expenses 2015: $139,052Net Income 2015: $15,9802015Revenue 2016: $185,724Expenses 2016: $139,152Net Income 2016: $46,5722016Revenue 2017: $162,402Expenses 2017: $159,246Net Income 2017: $3,1562017Revenue 2018: $167,236Expenses 2018: $201,783Net Income 2018: -$34,5472018

Highlighted filing

2015

Revenue$155,032
Expenses$139,052
Net Income$15,980
Jump To
Filing Snapshot
Filing Period
Jul 1, 2014 to Jun 30, 2015
Signed
Dec 3, 2015
Return Version
2014v5.0
Gross Receipts
$155,032
Mission and Program Overview

Mission

TO PROVIDE HOUSING

Balance Sheet Detail
LineBeginningEndChange
Assets
Land, Buildings, and Equipment, Net$988,824$958,538▼ $30,286
Cash and Non-Interest-Bearing Accounts$106,348$115,262▲ $8,914
Prepaid Expenses and Deferred Charges$0$15,000▲ $15,000
Accounts Receivable$756$0▼ $756
Total Assets$1,095,928$1,088,800▼ $7,128
Liabilities
Mortgage Notes Payable Secured by Investment Property$717,932$694,324▼ $23,608
Accounts Payable and Accrued Expenses$0$500▲ $500
Total Liabilities$717,932$694,824▼ $23,108
Net Assets / Fund Balance
Unrestricted Net Assets$377,996$393,976▲ $15,980
Total Net Assets Fund Balance$377,996$393,976▲ $15,980
Total Liabilities and Net Assets / Fund Balance$1,095,928$1,088,800▼ $7,128

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$950,091$509,608$1,459,699
Other Land Buildings$598$173,183$173,781
Land$7,500-$7,500
Equipment$349$502$851
Compensation and Service Providers

Employees

NameTitleOtherTotal
Jeffrey RisserDirector of Finance$129,589$129,589

Board Members and Trustees

NameTitle
Suzanne MclemorePresident
Elizabeth CorridanSecretary
Stacie DurnfordTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$154,804
Investment Income
$228
Other Revenue
$0
Change in Net Assets
$15,980
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$139,052
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Depreciation Depletion---$49,653
Occupancy---$42,951
Interest---$32,986
Insurance---$4,942
Travel---$2,140
Fees for Services Legal---$2,100
Office Expenses---$1,699
Fees for Services Accounting---$750
Fees for Services Other---$96
Other Expenses---$25
Conferences and Meetings---$9
Total Functional Expenses$0$0$0$139,052
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
Subject to proxy tax
No
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 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
Yes
Key decisions subject to board approval
Yes
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 6

The lambda chapter members of the kappa alpha theta fraternity pay a facility fee to the organization. Upon payment they become members of the organization. Members are allowed to attend the organization's board meetings.

Form 990, Part VI, Section A, Line 7A

Active members of the corporation shall be entitled to notice of and right to attend meetings of the membership, but have no vote on corporate actions. The sole voting member of the corporation, kappa alpha theta fraternity housing corporation, retains the power to appoint members of the governing body.

Form 990, Part VI, Section A, Line 7B

Governance decisions are subject to the approval of the sole voting member, kappa alpha theta fraternity housing corporation.

Form 990, Part VI, Section B, Line 11

The form 990 is reviewed by the organization's board of directors prior to being filed.

Form 990, Part VI, Section B, Line 12C

The organization reviews the policy and any conflicts of interest on an annual basis.

Form 990, Part VI, Section C, Line 18

The organization's annual form(s) 990 and 990-t (if applicable) and its form 1024 are available to the public upon request. Annual form 990s can also be obtained through third party websites such as www.guidestar.com.

Form 990, Part VI, Section C, Line 19

The organization's governing documents, conflict of interest policy, and financial statements are available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Lambda of Kappa Alpha Theta Inc
EIN
45-2635136
Phone
3178768593
Address
8740 FOUNDERS ROAD, INDIANAPOLIS, IN 46268

Signing Officer

Name
Elizabeth Corridan
Title
Secretary
Phone
3178768593
Signed
2015-12-03
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Suzanne Mclemore
Formed
2011
Legal Domicile
Vt
Voting Board Members
3
Independent Board Members
3
Employees
0
Volunteers
4

Preparer

Firm
K B Parrish & Co Llp
Address
6840 EAGLE HIGHLANDS WAY, INDIANAPOLIS, IN 46254
Preparer
Ryan Keith CPA
Phone
3173475200
Supplemental Narrative

Additional Explanations

FORM 990, PART XII, LINE 2C:

The board of directors, of the kappa alpha theta fraternity, assumes responsibility for the audit process as well as the selection of an independent accountant.

Financial Statement Notes

PART X, LINE 2:

The organization has evaluated tax positions taken in the tax returns filed and has determined that there are no uncertain tax positions as defined by generally accepted accounting standards. Under a three-year statute of limitations, the organization remains subject to examination by the internal revenue service for the years ended june 30, 2012 through june 30, 2014.

Raw XML Appendix368 raw XML fields

This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990/Desc0THE CORPORATION PROVIDES AND MANAGES THE CHAPTER HEADQUARTERS FOR THE LAMBDA CHAPTER OF THE KAPPA ALPHA THETA COLLEGIATE FRATERNITY, AND TO ENGAGE IN VARIOUS ASPECTS OF THE SOCIAL GATHERINGS OF THE COLLEGIATE MEMBERS.
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IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE ORGANIZATION HAS EVALUATED TAX POSITIONS TAKEN IN THE TAX RETURNS FILED AND HAS DETERMINED THAT THERE ARE NO UNCERTAIN TAX POSITIONS AS DEFINED BY GENERALLY ACCEPTED ACCOUNTING STANDARDS. UNDER A THREE-YEAR STATUTE OF LIMITATIONS, THE ORGANIZATION REMAINS SUBJECT TO EXAMINATION BY THE INTERNAL REVENUE SERVICE FOR THE YEARS ENDED JUNE 30, 2012 THROUGH JUNE 30, 2014.
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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE LAMBDA CHAPTER MEMBERS OF THE KAPPA ALPHA THETA FRATERNITY PAY A FACILITY FEE TO THE ORGANIZATION. UPON PAYMENT THEY BECOME MEMBERS OF THE ORGANIZATION. MEMBERS ARE ALLOWED TO ATTEND THE ORGANIZATION'S BOARD MEETINGS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1ACTIVE MEMBERS OF THE CORPORATION SHALL BE ENTITLED TO NOTICE OF AND RIGHT TO ATTEND MEETINGS OF THE MEMBERSHIP, BUT HAVE NO VOTE ON CORPORATE ACTIONS. THE SOLE VOTING MEMBER OF THE CORPORATION, KAPPA ALPHA THETA FRATERNITY HOUSING CORPORATION, RETAINS THE POWER TO APPOINT MEMBERS OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2GOVERNANCE DECISIONS ARE SUBJECT TO THE APPROVAL OF THE SOLE VOTING MEMBER, KAPPA ALPHA THETA FRATERNITY HOUSING CORPORATION.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE FORM 990 IS REVIEWED BY THE ORGANIZATION'S BOARD OF DIRECTORS PRIOR TO BEING FILED.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE ORGANIZATION REVIEWS THE POLICY AND ANY CONFLICTS OF INTEREST ON AN ANNUAL BASIS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THE ORGANIZATION'S ANNUAL FORM(S) 990 AND 990-T (IF APPLICABLE) AND ITS FORM 1024 ARE AVAILABLE TO THE PUBLIC UPON REQUEST. ANNUAL FORM 990S CAN ALSO BE OBTAINED THROUGH THIRD PARTY WEBSITES SUCH AS WWW.GUIDESTAR.COM.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE ORGANIZATION'S GOVERNING DOCUMENTS, CONFLICT OF INTEREST POLICY, AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt7THE BOARD OF DIRECTORS, OF THE KAPPA ALPHA THETA FRATERNITY, ASSUMES RESPONSIBILITY FOR THE AUDIT PROCESS AS WELL AS THE SELECTION OF AN INDEPENDENT ACCOUNTANT.
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PART VI, SECTION A, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PART VI, SECTION A, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART VI, SECTION A, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PART VI, SECTION B, LINE 11
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PART VI, SECTION B, LINE 12C
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PART VI, SECTION C, LINE 18
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PART VI, SECTION C, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XII, LINE 2C:
IRS990ScheduleR/AssetExchangeInd00
IRS990ScheduleR/AssetPurchaseFromOtherOrgInd00
IRS990ScheduleR/AssetSaleToOtherOrgInd00
IRS990ScheduleR/DivRelatedOrganizationInd00
IRS990ScheduleR/GiftGrntCapContriFromOthOrgInd00
IRS990ScheduleR/GiftGrntOrCapContriToOthOrgInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd00
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ControlledOrganizationInd10
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt0KAPPA ALPHA THETA FRATERNITY INC
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/DisregardedEntityName/BusinessNameLine1Txt1KAPPA ALPHA THETA FRATERNITY HOUSING CORPORATION
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN0361305568
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/EIN1261430902
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt0501(C)(7)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/ExemptCodeSectionTxt1501(C)(7)
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd0IN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/LegalDomicileStateCd1IN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt0TO PROMOTE FRATERNAL SISTERHOOD THROUGH EDUCATION AND SOCIAL ACTIVITIES.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/PrimaryActivitiesTxt1TO HOLD TITLE TO OR TO RENT PROPERTY FOR KAPPA ALPHA THETA MEMBERS.
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt08740 FOUNDERS ROAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/AddressLine1Txt18740 FOUNDERS ROAD
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm0INDIANAPOLIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/CityNm1INDIANAPOLIS
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd0IN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/StateAbbreviationCd1IN
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd046268
IRS990ScheduleR/IdRelatedTaxExemptOrgGrp/USAddress/ZIPCd146268
IRS990ScheduleR/LoansOrGuaranteesFromOthOrgInd00
IRS990ScheduleR/LoansOrGuaranteesToOtherOrgInd00
IRS990ScheduleR/PaidEmployeesSharingInd00
IRS990ScheduleR/PerformOfServicesByOtherOrgInd00
IRS990ScheduleR/PerformOfServicesForOthOrgInd00
IRS990ScheduleR/ReceiptOfIntAnntsRntsRyltsInd00
IRS990ScheduleR/ReimbursementPaidByOtherOrgInd00
IRS990ScheduleR/ReimbursementPaidToOtherOrgInd00
IRS990ScheduleR/RentalOfFacilitiesToOthOrgInd01
IRS990ScheduleR/RentalOfFcltsFromOthOrgInd00
IRS990ScheduleR/SharingOfFacilitiesInd01
IRS990ScheduleR/TransferFromOtherOrgInd00
IRS990ScheduleR/TransferToOtherOrgInd00
IRS990/SchoolOperatingInd00
IRS990/SignificantChangeInd00
IRS990/SignificantNewProgramSrvcInd00
IRS990/SubjectToProxyTaxInd00
IRS990/TaxablePartyNotificationInd00
IRS990/TaxExemptBondsInd00
IRS990/TempOrPermanentEndowmentsInd00
IRS990/TerminateOperationsInd00
IRS990/TotalAssetsBOYAmt01095928
IRS990/TotalAssetsEOYAmt01088800
IRS990/TotalAssetsGrp/BOYAmt01095928
IRS990/TotalAssetsGrp/EOYAmt01088800
IRS990/TotalCompGreaterThan150KInd01
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/TotalAmt0139052
IRS990/TotalGrossUBIAmt0228
IRS990/TotalLiabilitiesBOYAmt0717932
IRS990/TotalLiabilitiesEOYAmt0694824
IRS990/TotalLiabilitiesGrp/BOYAmt0717932
IRS990/TotalLiabilitiesGrp/EOYAmt0694824
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt0377996
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt0393976
IRS990/TotalOtherCompensationAmt051212
IRS990/TotalProgramServiceRevenueAmt0154804
IRS990/TotalReportableCompFromOrgAmt00
IRS990/TotalRevenueGrp/ExclusionAmt00
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0154804
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0155032
IRS990/TotalRevenueGrp/UnrelatedBusinessRevenueAmt0228
IRS990/TotalVolunteersCnt04
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt01095928
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt01088800
IRS990/TotReportableCompRltdOrgAmt0316274
IRS990/TravelGrp/TotalAmt02140
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd00
IRS990/UnrestrictedNetAssetsGrp/BOYAmt0377996
IRS990/UnrestrictedNetAssetsGrp/EOYAmt0393976
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt08740 FOUNDERS ROAD
IRS990/USAddress/CityNm0INDIANAPOLIS
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd046268
IRS990/VotingMembersGoverningBodyCnt03
IRS990/VotingMembersIndependentCnt03
IRS990/WebsiteAddressTxt0N/A
IRS990/WhistleblowerPolicyInd00
ReturnHeader/BuildTS02016-04-25 22:37:26Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd01
ReturnHeader/BusinessOfficerGrp/PersonNm0ELIZABETH CORRIDAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
ReturnHeader/BusinessOfficerGrp/PhoneNum03178768593
ReturnHeader/BusinessOfficerGrp/SignatureDt02015-12-03
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAMBDA OF KAPPA ALPHA THETA INC
ReturnHeader/Filer/BusinessNameControlTxt0LAMB
ReturnHeader/Filer/EIN0452635136
ReturnHeader/Filer/PhoneNum03178768593
ReturnHeader/Filer/USAddress/AddressLine1Txt08740 FOUNDERS ROAD
ReturnHeader/Filer/USAddress/CityNm0INDIANAPOLIS
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd046268
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0350905983
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0K B PARRISH & CO LLP
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt06840 EAGLE HIGHLANDS WAY
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0INDIANAPOLIS
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd046254
ReturnHeader/PreparerPersonGrp/PhoneNum03173475200
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RYAN KEITH CPA
ReturnHeader/ReturnTs02015-12-21T12:45:44-06:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/TaxPeriodBeginDt02014-07-01
ReturnHeader/TaxPeriodEndDt02015-06-30
ReturnHeader/TaxYr02014

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