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Kappa Foundation FY2024 filing

Tax-deductible

Lincoln, NE501(c)(3)Education EIN 47-0809384Revenue $522K in FY2024

On file with the IRSPo Box 5839, 68505-0839 · Lincoln, NETax-exempt since Sep 1998Publicly supported charity — 170(b)(1)(A)(vi)

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Kappa Foundation provides housing and scholarship support to students attending the university of nebraska-lincoln, primarily those enrolled in the college of agricultural sciences and natural resources. The Foundation supports an educational environment conducive to both formal and informal education in order to encourage and influence a broader and better agriculture.

501(c)(3) charity; gifts are tax-deductible.
98¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
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
Yes
Donations are tax-deductible
Looks good: the IRS lists 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 5
filings with a surplus
Average surplus $132K a year · 29% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
98%
of spending
Looks good: 98% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
11 mo
of spending, in cash
Plus $636K in investments, Pt X · Ln 11–13
Looks good: 11.0 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $20K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.0M
19% of total assets
Looks good: liabilities are 19% of assets; 50% or less.
Pt X · Ln 26
Independent board members
9
of 9 voting members
Looks good: 9 of 9 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$522K
+25% vs prior year
Spent
$316K
To programs
98%
Net assets
$4.3M
By yearFY2021–FY2025
Revenue
$522K
FY2024▲ +25%
Tap a bar for its year
Revenue by fiscal year
FY2021$367K
FY2022$432K
FY2023$418K
FY2024$522K
FY2025$570K
Expenses
$316K
FY2024▼ -8%
Tap a bar for its year
Expenses by fiscal year
FY2021$342K
FY2022$280K
FY2023$343K
FY2024$316K
FY2025$367K
Net assets
$4.3M
FY2024▲ +6%
Tap a bar for its year
Net assets by fiscal year
FY2021$3.9M
FY2022$4.0M
FY2023$4.0M
FY2024$4.3M
FY2025$4.5M

From the FY2024 Form 990 (year ending June 2024) · see the original

990 PDF Claim
You’re viewing the FY2024 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Sep 1998.

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

Where the money goes

98 cents of each dollar spent went to programs.

Program services 98% · $309K Management & general 2% · $5K Fundraising 0% · $1K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

10 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
Eric Ford
Trustee
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
John McKeever
Secretary
$0Pt VII · Sec A
$0Pt VII · Sec A
Craig Uden
Trustee
$0Pt VII · Sec A
Doug Wehrbein
President
$0Pt VII · Sec A
See Kappa Foundation executive salaries →

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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 15aNo

Programs and updates

Provides housing and scholarships to University of Nebraska-Lincoln agricultural students.

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Provided by the organization

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2 programs · $309K · in their own filed words · FY2023
01

Kappa foundation provides housing to support students attending the university of nebraska-lincoln, primarily those enrolled in the college of agricultural sciences and natural resources. The foundation's house, located across from unl's east campus, is home to the alpha gamma rho fraternity.

$267Kprogram expense
02

Kappa foundation provides scholarship support to students attending the university of nebraska-lincoln, primarily members of the alpha gamma rho fraternity. Scholarships are given based on a variety of criteria, including scholastic and leadership achievement.

$42Kprogram expense

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
Fidelity Investments Charitable Gift FundFY2024$20K
Total grants receivedfrom 1 funder$20K
Grants paid · 5 grants · $159K · 2020–2024
University of Nebraska FoundationNE · FY2024$53,050
University of Nebraska FoundationNE · FY2023$37,050
University of Nebraska FoundationNE · FY2022$31,650
University of Nebraska FoundationNE · FY2021$18,750
University of Nebraska FoundationNE · FY2020$18,500

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$522K
Ln 12
Fees for servicesLn 2g$436K
Gifts and grantsLn 1h$61K
Investment incomeLn 3$21K
Money outPt IX
$316K
Ln 25
Programscol B$309K
Managementcol C$5K
Fundraisingcol D$1K
Owns and owesPt X
$4.3M
net assets · Ln 32
Cash and savingsLn 1–2$290K
Total assetsLn 16$5.3M
LiabilitiesLn 26$1.0M
PeoplePt VI, VII
10
listed · VII A
PaidVII A0
Voting boardVI 1a9
IndependentVI 1b9
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$61K
Fundraising eventsLn 1c$5K
Fees for servicesLn 2g$436K
Investment incomeLn 3$21K
Other incomeLn 4–11$4K
Gains on assetsLn 7$2K
Total revenueLn 12$522K
Assets in detailPt X, end of year
CashLn 1$116K
SavingsLn 2$173K
Cash and savings togetherLn 1–2$290K
InvestmentsLn 11–13$636K
Land, buildings, equipmentLn 10c$4.4M
Other assetsLn 15$142
Total assetsLn 16$5.3M
LiabilitiesLn 26$1.0M
Net assetsLn 32$4.3M
OperationsPt I, VI
EmployeesI 50
VolunteersI 610
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 FY24End FY24
Cash and savingsLn 1–2$201K$290K
InvestmentsLn 11–13$505K$636K
Land, buildings, equipmentLn 10c$4.5M$4.4M
Total assetsLn 16$5.2M$5.3M
LiabilitiesLn 26$1.2M$1.0M
Net assetsLn 32$4.0M$4.3M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$42K$42K
Accounting feesLn 11c$4K$4K
Investment management feesLn 11f$59$59
Office expensesLn 13$4K$2K$412$1K
OccupancyLn 16$77K$77K
InterestLn 20$36K$36K
Depreciation, depletion and amortizationLn 22$122K$122K
InsuranceLn 23$30K$30K
Other expenses (24a–d)Ln 24$423$423
Total functional expensesLn 25$316K$309K$5K$1K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $570K$367K$203K$4.5M 990 PDF
FY2024 Viewing $522K$316K$207K$4.3M 990 PDF
FY2023 $418K$343K$75K$4.0M 990 PDF
FY2022 $432K$280K$152K$4.0M 990 PDF
FY2021 $367K$342K$24K$3.9M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $522,182 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $47,983$61,186
I-9 Program service revenuePrior year $352,000$436,000
I-10 Investment incomePrior year $20,760$21,312
I-11 Other revenuePrior year −$2,392$3,684
I-12 Total revenuePrior year $418,351$522,182
I-13 Grants and similar amounts paidPrior year $31,650$42,050
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $311,812$273,508
I-18 Total expensesPrior year $343,462$315,558
I-19 Revenue less expensesPrior year $74,889$206,624
Part VI · Governance 9 of 9 board members independent, 1 to look at
VI-1a Voting members of the governing body9
VI-1b Independent voting members9
VI-15a Process for setting top official's payNo
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
Part VIII · Statement of revenue $522,182 across 9 lines filed
VIII-1c Fundraising events$5,410
VIII-1f All other contributions, gifts and grants$55,776
VIII-1h Total contributions, gifts and grants$61,186
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $436,000$436,000
VIII-3 Investment incomeExcluded from tax $19,514$19,514
VIII-6 Net rental income or lossRelated to mission $4,212$4,212
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,798$1,798
VIII-8 Net income from fundraising eventsExcluded from tax −$528−$528
VIII-12 Total revenueRelated to mission $440,212 · Excluded from tax $20,784$522,182
Part IX · Statement of functional expenses $315,558 across 9 lines filed
IX-1 Grants to domestic organizationsPrograms $42,050$42,050
IX-11c Accounting feesManagement $4,350$4,350
IX-11f Investment management feesManagement $59$59
IX-13 Office expensesPrograms $1,827 · Management $412 · Fundraising $1,494$3,733
IX-16 OccupancyPrograms $76,868$76,868
IX-20 InterestPrograms $36,045$36,045
IX-22 Depreciation, depletion and amortizationPrograms $122,034$122,034
IX-23 InsurancePrograms $29,996$29,996
IX-24 Other expenses (24a–d)Programs $423$423
IX-25 Total functional expensesPrograms $309,243 · Management $4,821 · Fundraising $1,494$315,558
Part X · Balance sheet $5,300,211 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $195,440$116,249
X-2 Savings and temporary cash investmentsStart of year $5,584$173,251
X-10c Land, buildings and equipment, netStart of year $4,487,036$4,365,001
X-11 Publicly traded securitiesStart of year $505,190$636,467
X-14 Intangible assetsStart of year $10,432$9,101
X-15 Other assetsStart of year $142$142
X-16 Total assetsStart of year $5,203,824$5,300,211
X-26 Total liabilitiesStart of year $1,153,862$1,021,170
X-27 Net assets without donor restrictionsStart of year $3,778,809$3,981,572
X-28 Net assets with donor restrictionsStart of year $271,153$297,469
X-32 Total net assets or fund balancesStart of year $4,049,962$4,279,041
X-33 Total liabilities and net assetsStart of year $5,203,824$5,300,211
Part XI · Reconciliation of net assets $4,279,041 net assets at year end
XI-1 Total revenue$522,182
XI-2 Total expenses$315,558
XI-3 Revenue less expenses$206,624
XI-4 Net assets at start of year$4,049,962
XI-5 Net unrealized gains (losses) on investments$22,455
XI-10 Net assets at end of year$4,279,041

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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