Denver Kappa Alpha Psi Scholarship Foundation

What it reported doing in 2024

The Denver Kappa Alpha Psi Scholarship Foundation was formed to honor African American young men who have demonstrated excellence in their academic pursuit and have demonstrated the desire to participate in activities that give back to their communities. The Foundation relies on the Kappa Alpha Psi Fraternity, Inc Denver Alumni Chapter to execute a fair scholarship selection process without the influence of the Foundation to select a number of students each year to honor to the extent of the budget set by the Foundation. In addition, the Foundation funds programs such as Kappa League and Guide Right to build a pipeline of well deserving young men for the scholarship program. The Foundation has been successful in raising funds and managing our funds utilizing very strict financial policies we hold our financial advising partners too, along with following the rules of the Secretary of State and any laws or guidelines set forth by regulating bodies of non profit organizations. Our Board met as scheduled and acted upon any decision necessary as outlined in our meeting minutes and elected very qualified members to serve as officers, board members, and advisors (an entity to train potential board members). The Foundation continues to seek donors to our organization that are suitable partners, meaning the goals of their organization and ethics with which they govern are consistent with the mission and goals of our Foundation. Some of the sources of our donations include, Board Members - which are by the rules set in our By-Laws contributed a minimum of $1100 this year, individual donors, corporate donors, foundation donors, in kind services, and any profits made from the scholarship program luncheon. Our corporate donors have been very loyal to the Foundation, many have been donors since our inception. There is no compensation of any kind provided to the Board of Directors for their time and participation on the Foundation Board. The Foundation Board sets our administration fee budget each year to less than 5% annually, many years being well below the overall goal. It is management's goal to, to keep expenses within 5% of total donation revenue. When you examine our returns, the investment has paid off well and also brings another level of governance on the transfer or withdrawal of funds. Part V Statements Regarding Other IRS Filings and Tax Compliance The Foundation is in complete compliance with the IRS filings and related tax compliances. The Foundation is a 501(c)3. There are no employees of the Foundation. To that end, there are no related payroll filings.

Financial Efficiency

• Mission deployment rate: 49.6%; rating input score 50
• Program expense ratio: 71.2%; rating input score 71
• Fundraising efficiency: Limited

Transparency & Controls

• Consistency checks: 100%; rating input score 100; 64th percentile among comparable filings
• Pay-setting controls: Limited
• Foreign activity oversight: Limited
• Grant itemization coverage: Limited
• Major donor itemization: Limited
• Related-party transparency: Limited

Accountability

• Independent voting board: 100%; rating input score 100; 63rd percentile among comparable filings
• Governance controls: 5 of 7 controls in place; rating input score 71
  • Conflict-of-interest policy: Pass
  • Whistleblower policy: Pass
  • Document-retention policy: Pass
  • CEO compensation review process: NotApplicable
  • Other executive compensation review process: NotApplicable
  • Form 990 shared with the board: Pass
  • Board meeting minutes documented: Pass
  • Audit committee oversight: Missing
  • Independent financial-statement audit: Fail

Sustainability

• Operating margin: 53%; rating input score 92; 92nd percentile among comparable filings
• Total-asset coverage ratio: 10.75; rating input score 90; 90th percentile among comparable filings
• Liabilities to assets ratio: 0.01; rating input score 44; 44th percentile among comparable filings
• Officer compensation ratio: 0%; rating input score 69; 69th percentile among comparable filings

Growth

• Program expense growth: 35.1% per year; rating input score 100; 92nd percentile among comparable filings
• Revenue growth: 10.4% per year; rating input score 100; 73rd percentile among comparable filings
• Asset growth: 7.5% per year; rating input score 100; 57th percentile among comparable filings