Kappa Alpha Theta Fraternity FY2021 filing

Not tax-deductible

Indianapolis, IN501(c)(7)Since 1870EIN 36-1305568Revenue $6.2M in FY2021

On file with the IRSkappaalphatheta.org8740 Founders Rd, 46268-1337 · Indianapolis, INTax-exempt since Oct 1940

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Kappa Alpha Theta nurtures each member throughout her lifetime, offering opportunities for intellectual and personal growth.

$468K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Pay: Part VII

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FY2021 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(7)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
No
Donations are not tax-deductible
Worth a look: the IRS does not list gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 6
filings with a surplus
Average surplus $908K a year · 11% of revenue · last 6 filings
Fine: a surplus in 5 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Pay to officers and key staff
$468K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
31 mo
of spending, in cash
Looks good: 31.1 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $488K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$23.0M
63% of total assets
Fine: liabilities are 63% of assets; 50% to 65%.
Pt X · Ln 26
Independent board members
7
of 7 voting members
Looks good: 7 of 7 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$6.2M
-19% vs prior year
Spent
$6.6M
Net assets
$13.7M
By yearFY2020–FY2025
Revenue
$6.2M
FY2021▼ -19%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.7M
FY2021$6.2M
FY2022$8.0M
FY2023$8.1M
FY2024$7.2M
FY2025$10.6M
Expenses
$6.6M
FY2021▼ -6%
Tap a bar for its year
Expenses by fiscal year
FY2020$7.1M
FY2021$6.6M
FY2022$6.0M
FY2023$7.6M
FY2024$7.0M
FY2025$8.0M
Net assets
$13.7M
FY2021▼ -9%
Tap a bar for its year
Net assets by fiscal year
FY2020$15.1M
FY2021$13.7M
FY2022$14.4M
FY2023$15.6M
FY2024$17.5M
FY2025$20.4M

From the FY2021 Form 990 (year ending June 2021) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1940.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Who runs it and what they're paid

10 people listed on the 990; $468K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
Chief Executive Officer
$218,664Pt VII · Sec A
Chief Financial Officer
$147,200Pt VII · Sec A
Chief Operating Officer
$101,884Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A

Compensation history total reportable pay by year · 8 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Jennifer Schmaltz$224,907$232,628$162,583$114,511$101,884$100,561
Elizabeth Corridan———$227,126$218,664$210,667
Jeffrey Risser$161,320$161,148$161,168$153,985$147,200$151,424
Julianne Butler$118,797$114,406$126,528———
Melinda Young Marshall$122,767—————
Melinda Young—$118,294$118,309———
Melissa Shaub$104,608—————
Heather Darring$89,734—————

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Fosters lifelong intellectual and personal growth for its members.

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Provided by the organization

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3 programs · in their own filed words · FY2020
01

Grand Convention Is Held to

1. Elect the members of grand COUNCIL.2. Establish the basic objectives and policies of kappa alpha theta, including the charitable, educational, and service objectives THEREOF.3. Determine the qualifications for fraternity MEMBERSHIP.4. Set the standards governing the conduct and discipline of members and CHAPTERS.5.

Pt IX · col B
02

Member services provide educational and social activities for all members. These services include the educational leadership consultant program, member orientation, sisters supporting sisters, emerging leaders institute, leadership academy, service trips and alcohol skills training programs.

Pt IX · col B
03

Risk management provides insurance protection against liability and casualty.

Pt IX · col B

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2024
Total grants receivedfrom 1 funder$488K
Grants paid · 11 grants · $697K · 2019–2024
Unitemized GrantFY2024$122,883
Unitemized GrantFY2023$38,901
Unitemized GrantFY2022$76,250
Unitemized GrantFY2021$82,139
Unitemized GrantFY2020$111,410
Unitemized GrantFY2019$105,334

By the numbers

The FY2021 990, line by line.

1The main four
Money inPt VIII
$6.2M
Ln 12
Fees for servicesLn 2g$5.1M
Gifts and grantsLn 1h$489K
Other incomeLn 4–11$428K
Money outPt IX
$6.6M
Ln 25
Owns and owesPt X
$13.7M
net assets · Ln 32
Cash and savingsLn 1–2$17.1M
Total assetsLn 16$36.7M
LiabilitiesLn 26$23.0M
PeoplePt VI, VII
10
listed · VII A
PaidVII A3
Voting boardVI 1a7
IndependentVI 1b7
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$489K
Government grantsLn 1e$344K
Fees for servicesLn 2g$5.1M
Investment incomeLn 3$216K
Other incomeLn 4–11$428K
Gains on assetsLn 7$178K
Total revenueLn 12$6.2M
Assets in detailPt X, end of year
CashLn 1$4.6M
SavingsLn 2$12.5M
Cash and savings togetherLn 1–2$17.1M
InvestmentsLn 11–13$12.6M
Land, buildings, equipmentLn 10c$2.4M
Total assetsLn 16$36.7M
LiabilitiesLn 26$23.0M
Net assetsLn 32$13.7M
OperationsPt I, VI
EmployeesI 584
VolunteersI 6194
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY21End FY21
Cash and savingsLn 1–2$27.8M$17.1M
InvestmentsLn 11–13$1.6M$12.6M
Land, buildings, equipmentLn 10c$3.7M$2.4M
Total assetsLn 16$38.8M$36.7M
LiabilitiesLn 26$23.7M$23.0M
Net assetsLn 32$15.1M$13.7M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$111K
Pay of current officers, directors and key staffLn 5$394K
Other salaries and wagesLn 7$2.2M
Pension plan contributionsLn 8$489K
Other employee benefitsLn 9$505K
Payroll taxesLn 10$191K
Legal feesLn 11b$55K
Accounting feesLn 11c$31K
Investment management feesLn 11f$16K
Other fees for servicesLn 11g$8K
Advertising and promotionLn 12$127K
Office expensesLn 13$141K
Information technologyLn 14$838K
OccupancyLn 16$132K
Conferences, conventions and meetingsLn 19$216K
InterestLn 20$81K
Depreciation, depletion and amortizationLn 22$327K
Other expenses (24a–d)Ln 24$643K
All other expensesLn 24e$70K
Total functional expensesLn 25$6.6M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $10.6M$8.0M$2.6M$20.4M 990 PDF
FY2024 $7.2M$7.0M$176K$17.5M 990 PDF
FY2023 $8.1M$7.6M$523K$15.6M 990 PDF
FY2022 $8.0M$6.0M$2.0M$14.4M 990 PDF
FY2021 Viewing $6.2M$6.6M−$389K$13.7M 990 PDF
FY2020 $7.7M$7.1M$572K$15.1M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2021 990 (6 parts)
Part I · Summary $6,231,540 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $903,538$489,051
I-9 Program service revenuePrior year $6,237,398$5,098,282
I-10 Investment incomePrior year −$317,828$216,369
I-11 Other revenuePrior year $829,003$427,838
I-12 Total revenuePrior year $7,652,111$6,231,540
I-13 Grants and similar amounts paidPrior year $155,334$111,410
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $3,260,942$3,825,334
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $3,663,352$2,683,717
I-18 Total expensesPrior year $7,079,628$6,620,461
I-19 Revenue less expensesPrior year $572,483−$388,921
Part VI · Governance 7 of 7 board members independent, no flags
VI-1a Voting members of the governing body7
VI-1b Independent voting members7
VI-2 Family or business relationship among officers or directorsNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $6,231,540 across 10 lines filed
Lines not itemized here account for $226,287 of total revenue; see the IRS return.
VIII-1e Government grants$343,616
VIII-1f All other contributions, gifts and grants$145,435
VIII-1h Total contributions, gifts and grants$489,051
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $5,098,282$5,098,282
VIII-3 Investment incomeUnrelated business $27,090 · Excluded from tax $11,088$38,178
VIII-5 RoyaltiesExcluded from tax $279,018$279,018
VIII-6 Net rental income or lossUnrelated business −$138,620−$138,620
VIII-7 Net gain or loss on sales of assetsExcluded from tax $178,191$178,191
VIII-11a-d Other revenue, itemized rows (sum of 11a–11d as filed)Related to mission $61,153$61,153
VIII-12 Total revenueRelated to mission $5,385,722 · Unrelated business −$111,530 · Excluded from tax $468,297$6,231,540
Part IX · Statement of functional expenses $6,620,461 across 19 lines filed
IX-2 Grants to domestic individuals$111,410
IX-5 Pay of current officers, directors and key staff$394,393
IX-7 Other salaries and wages$2,246,207
IX-8 Pension plan contributions$488,519
IX-9 Other employee benefits$505,140
IX-10 Payroll taxes$191,075
IX-11b Legal fees$54,734
IX-11c Accounting fees$30,701
IX-11f Investment management fees$15,909
IX-11g Other fees for services$8,057
IX-12 Advertising and promotion$126,584
IX-13 Office expenses$141,126
IX-14 Information technology$838,261
IX-16 Occupancy$131,842
IX-19 Conferences, conventions and meetings$215,817
IX-20 Interest$80,641
IX-22 Depreciation, depletion and amortization$326,789
IX-24 Other expenses (24a–d)$643,391
IX-24e All other expenses$69,865
IX-25 Total functional expenses$6,620,461
Part X · Balance sheet $36,703,318 assets, 17 lines filed
Asset lines not itemized here account for $3,763,545; see the IRS return.
X-1 Cash, non-interest-bearingStart of year $3,724,196$4,648,395
X-2 Savings and temporary cash investmentsStart of year $24,073,147$12,488,502
X-4 Accounts receivableStart of year $423,489$627,045
X-8 Inventories for sale or useStart of year $34,079$42,290
X-9 Prepaid expenses and deferred chargesStart of year $203,529$154,680
X-10c Land, buildings and equipment, netStart of year $3,734,208$2,375,060
X-11 Publicly traded securitiesStart of year $1,316,582$12,320,731
X-12 Other securitiesStart of year $271,095$283,070
X-16 Total assetsStart of year $38,787,236$36,703,318
X-17 Accounts payable and accrued expensesStart of year $1,888,470$2,233,101
X-19 Deferred revenueStart of year $1,408,784$3,032,092
X-25 Other liabilitiesStart of year $3,761,489$3,583,799
X-26 Total liabilitiesStart of year $23,720,802$22,954,681
X-27 Net assets without donor restrictionsStart of year $14,921,407$13,656,096
X-28 Net assets with donor restrictionsStart of year $145,027$92,541
X-32 Total net assets or fund balancesStart of year $15,066,434$13,748,637
X-33 Total liabilities and net assetsStart of year $38,787,236$36,703,318
Part XI · Reconciliation of net assets $13,748,637 net assets at year end
XI-1 Total revenue$6,231,540
XI-2 Total expenses$6,620,461
XI-3 Revenue less expenses−$388,921
XI-4 Net assets at start of year$15,066,434
XI-5 Net unrealized gains (losses) on investments$617,327
XI-9 Other changes in net assets−$1,546,203
XI-10 Net assets at end of year$13,748,637

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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