Alpha Lambda Association

Nonprofit profile at a glance

EIN
916055302
IRS 990 coverage
2011–2017
Forms available
Form 990 2017, Form 990-EZ 2009
Location
Indianapolis, IN, USA
Phone
3178761870
Rating confidence
Limited
Sector
Student Sororities, Fraternities

Reported finances

Revenue
$353,937
Expenses
$237,155
Assets
$0
Liabilities
$0

Source: IRS Form 990. Selected filing: tax year 2017. Amounts in USD.

Leadership & pay

6 people listed

Executive titles in this filing

  • MARY JANE BEACH (PRESIDENT)
  • LEAH A HARTMAN (VICE PRESIDENT)
  • CATHERINE KELLIE DICKERSON (VICE PRESIDENT/TREASURER)
  • ELIZABETH CORRIDAN (VICE PRESIDENT/SECRETARY)
  • TERESA SMITH (FHC EXECUTIVE DIRECTOR)

Highest reported compensation

  • ELIZABETH CORRIDAN (VICE PRESIDENT/SECRETARY): $234,536 total reported compensation
  • JEFFREY RISSER (CHIEF FINANCIAL OFFICER): $149,309 total reported compensation
  • TERESA SMITH (FHC EXECUTIVE DIRECTOR): $77,406 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2017. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To provide housing

What it reported doing in 2017

The corporation provides and manages the chapter headquarters for the alpha lambda chapter of the kappa alpha theta collegiate sorority which provides a place to foster friendship, promote educational and cultural interests, and develop the maturity of the members.

Operating model

Revenue model
Earned-program. 93% of the money available for current operations came from fees and other program revenue.
Distribution model
Cannot be determined from the filing. The filing does not provide enough consistent spending detail to tell whether the nonprofit works directly or through others.

The verdict

- The available evidence is not sufficient to produce an overall rating for this filing. This is not a warning sign.

Rating breakdown

  • Financial Efficiency: NotEnoughData
  • Transparency & Controls: 53
  • Accountability: 91
  • Sustainability: 43
  • Growth: 40

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: Limited
  • Program expense ratio: Limited
  • Fundraising efficiency: Limited

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: 0 of 6 controls in place; rating input score 0
    • Compensation committee: Missing
    • Independent consultant: Missing
    • Other Form 990s reviewed: Missing
    • Written employment contract: Missing
    • Compensation survey or study: Missing
    • Board or committee approval: Missing
  • Foreign activity oversight: Limited
  • Grant itemization coverage: Limited
  • Major donor itemization: No; rating input score 0
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
  • Governance controls: 7 of 9 controls in place; rating input score 78
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: Fail
    • Other executive compensation review process: Fail
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 33%; rating input score 87; 87th percentile among comparable filings
  • Total-asset coverage ratio: 0; rating input score 1; 1st percentile among comparable filings
  • Liabilities to assets ratio: Limited
  • Officer compensation ratio: 28.6%; rating input score 12; 12th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 5.9% per year; rating input score 100; 63rd percentile among comparable filings
  • Asset growth: -4.6% per year; rating input score 0; 18th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 4 of 4 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $235K · 6 people listed · 0 of 6 pay-setting controls reported
  • Consistency: 9 of 9 current checks pass
  • Schedules: 5 filed schedules · includes major donors and executive pay
  • Filing history: 6 filing years from 2011 to 2017
  • Contacts: How to reach this organization
  • Related organizations: 2 filed related-organization links
  • Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
  • People: Everyone the filings name, and which of them the filings identify by more than a name.

Key Signals

Signals prioritize questions for review. They are not findings of misconduct.

Grant-readiness screening is separate from the live rating, not a measure of program quality. Review the source records before making a grant decision.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Major donor itemization scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • High — Growth: Asset growth scored 0/100.
  • High — Sustainability: Total-asset coverage ratio scored 1/100.
  • High — Sustainability: Officer compensation ratio scored 12/100.
  • High — Grant Readiness: Automatic revocation: this organization had its federal tax-exempt status automatically revoked.