Alpha Kappa Psi Scholarship Fund

Analysis

Alpha Kappa Psi Scholarship Fund is a registered charity in United States, based in Minneapolis, MN. It received its IRS tax-exemption ruling in March 2006, 20 years ago. Its declared purposes cover education, which this site groups under education and training. The IRS classifies it as a publicly supported organisation (donations from the general public) under section 501(c)(3), and contributions to it are listed as tax-deductible.

In the financial year ending June 2024, Alpha Kappa Psi Scholarship Fund reported income of $351k and spending of $383k, spending 109% of what it took in. Across the 6 years on record, from June 2019 to June 2024, income grew from $324k to $351k (+8.5%), an average of +1.6% a year. The sharpest change came in the year to June 2020, when income rose by 124%. Over the whole period it spent 80% of the income it received.

Among 66,972 United States charities whose main cause is education and training and that reported income, Alpha Kappa Psi Scholarship Fund sits at the 63rd percentile: it is larger than about 63% of them. Against every charity in United States with reported income it ranks in the 64th percentile, and in the 63rd percentile within MN. Charities of a similar size with the same main cause include Association of Jewish Libraries Inc ($351k), Engagenj a NJ Nonprofit Corporation ($351k) and Mountain Foundation for Education ($351k).

On its Form 990 for the period ending June 2024, revenue came from contributions and grants 75% of the total. Compensation of current officers, directors and key employees was $41k (11% of expenses). At year end it held assets of $3.9m against liabilities of $10k, net assets of $3.9m.

Data notes from the register: Spending has exceeded income in each of the last three reported years, so the charity has been drawing on reserves or other funds.