Alpha Kappa Lambda Education Foundation INC EIN 31-1114431

Alpha Kappa Lambda Education Foundation INC

EIN  31-1114431 Public charity (501(c)(3)) Carmel, IN
Form 990 (PDF) Compare with another nonprofit →
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Size
<$100K
What they do
an education nonprofit
Leadership
Matthew Gatrell · President
Money in and out
$55K revenue, $68K expenses
Bottom line
58% program efficiency

Alpha Kappa Lambda Education Foundation INC is an education nonprofit based in Carmel, IN. For fiscal year 2024 it reported $55K in revenue, $68K in expenses, and $388K in net assets.Pt I

Where the money goes · FY2024
Total revenue
$55K
Pt VIII · Ln 12
Total expenses
$68K
Pt IX · Ln 25
Net assets
$388K
Pt X · Ln 32
Revenue less expenses (Pt I · Ln 19): −$14K
Where spending went · Part IX cols B–D
Program services $0.58 Management & general $0.29 Fundraising $0.13
Program efficiency
58%
of spending reaches programs▼ -15% vs prior filing year
Operating runway
29.2mo
months of highly liquid reserves at operating expense rate▼ -6% vs prior filing year
Surplus margin
-25%
revenue over expenses, this year▼ -175% vs prior filing year

Summary of the Filing

Part I · fiscal year 2024 · Form 990
Revenue
$55K
FY2024▼ -11%
Expenses
$68K
FY2024▲ +2%
Total assets
$389K
FY2024▼ -3%
Total liabilities
$694
FY20240%
Total revenue
$55K
Pt VIII · Ln 12
Total expenses
$68K
Pt IX · Ln 25
Net assets
$388K
Pt X · Ln 32
Revenue less expensesPt I · Ln 19−$14K
Total assetsPt X · Ln 16$389K
Program-expense ratioPt IX · col B58%
Voting members of governing bodyPt I · Ln 37
Independent voting membersPt I · Ln 47
Mission & Programs · Part III

Where the work happens

3 program services account for $39K of program spending, described in the organization's own filed words · FY2024.
01

To provide funding for attendees to participate in educational and leadership programs through the fraternity of alpha kappa lambdas regional leadership conferences, chapter presidents academy and national conclave.

$39Kprogram expense
02

The foundation accepts restricted gifts for chapter purpose funds. These funds are used for annual scholarships, leadership programs, and qualified infrastructure improvements.

Pt IX · col B
03

To provide educational opportunities to students and scholarship funds to educational institutions and the undergraduate intrafraternity insititute.

Pt IX · col B

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Identity & Classification

Form 990 Header · IRS Business Master File
Legal nameHdr · item CAlpha Kappa Lambda Education Foundation INC
EINHdr · item D31-1114431
Principal addressHdr · item CCarmel, IN
WebsiteHdr · item Jwww.akl.org/found.html
Year of formationHdr · item Lpending
State of legal domicileHdr · item MIN
Exempt statusHdr · item I501(c)(3) · active
NTEE classificationIRS BMFEducation (B83Z)
Ruling yearIRS BMFMar 1985

Governance & Policies

Part VI
Voting members of the governing bodyPt VI · Ln 1a7
Independent voting membersPt VI · Ln 1b7
Conflict-of-interest policyPt VI · Ln 12aYes
Whistleblower policyPt VI · Ln 13Yes
Document retention policyPt VI · Ln 14Yes
CEO/top-official compensation independently reviewedPt VI · Ln 15aYes
Family or business relationships among officers/directorsPt VI · Ln 2No

Officers, Directors & Key Employees

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Chief Operating Officer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Director
$0Pt VII · Sec A
See Alpha Kappa Lambda Education Foundation INC executive salaries →

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Statement of Revenue

Part VIII
Contributions & grants$36K · 67%
Other revenue$14K · 25%
Investment income$4K · 8%
Contributions & grants67%$36K
Other revenue25%$14K
Investment income8%$4K
Total revenueLn 12$55K

Statement of Functional Expenses

Part IX · allocated across program, management, and fundraising
Allocation · columns B–D
Program services $0.58 Management & general $0.29 Fundraising $0.13
Program services58%$39K
Management & general29%$20K
Fundraising13%$9K
Total functional expensesLn 25$68K

Balance Sheet

Part X · end of year
CashLn 1$125K
Total assetsLn 16$389K
Total liabilitiesLn 26$694
Total net assetsLn 32$388K
Months of cash on handcomputed22.0

Financial Metrics

Form 990 · FY2024 · each ratio shown with the dollars behind it
Liquidity & Payout
Operating runway
Highly liquid reserves $166K · Operating expenses/yr $68K
29.2 months
Where the money goes
Program services
Program services $39K · Total expenses $68K
58%
Management & General
Management & general $20K · Total expenses $68K
29%
Fundraising
Fundraising $9K · Total expenses $68K
13%
Cost to raise $1
Fundraising expense (3-yr avg) $10K · Solicited contributions (3-yr avg) $35K
$0.30 to raise $1 (3-yr avg)
Where the money comes from
Contribution dependence
Contributions & grants $36K · Total revenue $55K
67%
Government reliance
Government grants — · Total revenue $55K
Earned-income share
Program service revenue $0 · Total revenue $55K
0%
Investment reliance
Investment income $4K · Total revenue $55K
+8%
Program self-sufficiency
Program service revenue $0 · Total expenses $68K
0%
Growth & trend
Revenue growth (YoY)
This year $55K · Prior year $61K
-11%
Revenue CAGR
FY2020 $65K · FY2024 $55K
-4%
Net-asset trend (YoY)
End of year $388K · Beginning of year —
Beginning net assets not meaningfully positive — showing dollar change
Balance sheet
Surplus Margin
Revenue $55K · Expenses $68K
-25%
Liabilities-to-Assets
Total liabilities — · Total assets $389K
Net-asset ratio
Net assets $388K · Total assets $389K
100%
Marketable Investment Share
Publicly traded securities (Pt X, ln 11) $41K · Other securities (Pt X, ln 12) — · Total assets (Pt X, ln 16) $389K
11%
People & payroll
Highest Reported Total Compensation
Individual Matthew Gatrell · Reported title PRESIDENT · Highest reported compensation $0 · Total expenses $68K
0%
Personnel share
Salaries, benefits & payroll (Pt IX 5-10) — · Total expenses $68K
Peer comparison

Same NTEE category, revenue band, and state where available. Descriptive — not a grade.

MetricThis orgPeer medianPercentile
Program ratio 58%
Overhead ratio 29%
Fundraising cost ratio 25%
Revenue growth -11%
Accounting fee ratio 11%
Fundraising fee ratio 12%

Straight from the Form 990 — descriptive, not an evaluation. A ratio is hidden when its base is zero or too small to be meaningful; the dollars are always shown.

Grants

Schedule I · received and paid
Grants received · FY2023
Total grants receivedfrom 1 funder$45
Grants paid · 8 grants · $212K · 2020–2024
Unitemized GrantFY2024$2,400
Unitemized GrantFY2023$5,795
Unitemized GrantFY2023$4,500

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Filings & Schedule Manifest

Part IV
III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
FY2024 (Latest)$55K revenue · viewing · ⤓ 990 PDF
FY2023$61K revenue · ⤓ 990 PDF
FY2022$58K revenue · ⤓ 990 PDF
FY2021$72K revenue · ⤓ 990 PDF
FY2020$65K revenue · ⤓ 990 PDF

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Sources

Every figure above is drawn from these filings
Form 990 e-file (XML) · FY2024IRS
Classification, formation year, addressIRS Business Master File
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