Is it real?
Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Sep 2005.
IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File
Where the money goes
73 cents of each dollar spent went to programs.
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
25 people listed on the 990; $815K paid to officers and key staff.
Damian Rivera’s $472K as Chief Executive Officer is at the 86th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.
Compensation history total reportable pay by year · 8 named individuals · Part VII
| Name | FY2024 | FY2023 |
|---|---|---|
| Damian Rivera | $472,105 | $379,568 |
| Selene Benavides | $260,000 | $200,104 |
| Jennylee Ramos | $211,000 | $130,027 |
| Jamelfrey Pacheco | $114,012 | — |
| Zuhaly Ramon | $106,375 | — |
| Melissa Morales | — | $105,036 |
| Melissa Alli | $100,850 | — |
| Enna Jimenez Dir Thru 824 | $100,000 | — |
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
Awards scholarships to deserving accounting and business students.
Questions for Alpfa Foundation INC
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Granting of scholarships to qualified accounting and business students and providing network, mentoring and educational programs to students and professionals at all career levels.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2023 990, line by line.
Download 990
| Line | Start FY23 | End FY23 |
|---|---|---|
| Cash and savingsLn 1–2 | $2.0M | $4.5M |
| Total assetsLn 16 | $2.3M | $6.0M |
| LiabilitiesLn 26 | $1.2M | $2.8M |
| Net assetsLn 32 | $1.0M | $3.2M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic individualsLn 2 | $844K | $844K | ||
| Pay of current officers, directors and key staffLn 5 | $807K | $323K | $484K | |
| Other salaries and wagesLn 7 | $1.0M | $415K | $622K | |
| Pension plan contributionsLn 8 | $10K | $4K | $6K | |
| Other employee benefitsLn 9 | $77K | $31K | $46K | |
| Payroll taxesLn 10 | $139K | $55K | $83K | |
| Legal feesLn 11b | $25K | $25K | ||
| Accounting feesLn 11c | $77K | $77K | ||
| Professional fundraising feesLn 11e | $35K | $35K | ||
| Other fees for servicesLn 11g | $891K | $770K | $120K | |
| Advertising and promotionLn 12 | $227K | $227K | ||
| Office expensesLn 13 | $58K | $22K | $36K | |
| Information technologyLn 14 | $523K | $63K | $460K | |
| TravelLn 17 | $178K | $121K | $58K | |
| Conferences, conventions and meetingsLn 19 | $3.5M | $3.5M | $72K | |
| Depreciation, depletion and amortizationLn 22 | $203K | $203K | ||
| InsuranceLn 23 | $30K | $30K | ||
| All other expensesLn 24e | $21K | $21K | ||
| Total functional expensesLn 25 | $8.7M | $6.3M | $2.3M | $35K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2024 Latest | $13.2M | $12.3M | $855K | $4.0M | 990 PDF |
| FY2023 Viewing | $10.9M | $8.7M | $2.1M | $3.2M | 990 PDF |
| FY2022 | $1.4M | $732K | $688K | $1.0M | 990 PDF |
| FY2021 | $957K | $688K | $269K | $473K | 990 PDF |
| FY2020 | $404K | $380K | $24K | $204K | 990 PDF |
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Schedules filed Part IV
See the full FY2023 990 (6 parts)
Part I · Summary $10,875,770 revenue, 12 lines filed
Part VI · Governance 21 of 22 board members independent, no flags
Part VIII · Statement of revenue $10,875,770 across 7 lines filed
Part IX · Statement of functional expenses $8,727,720 across 18 lines filed
Part X · Balance sheet $6,007,352 assets, 13 lines filed
Part XI · Reconciliation of net assets $3,159,375 net assets at year end
Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File
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