Kappa Alpha Theta Fraternity Housing Corporation

Nonprofit profile at a glance

EIN
261430902
IRS 990 coverage
2011–2024
Forms available
Form 990 2024, Form 990-N 2009
Location
Indianapolis, IN, USA
Phone
3178761870
Rating confidence
Limited
Sector
Student Sororities, Fraternities

Reported finances

Revenue
$30,547,105
Expenses
$28,234,616
Assets
$90,520,754
Liabilities
$55,957,595

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • JENNIFER SCHMALTZ (CEO/SECRETARY)
  • TERESA SMITH (EXECUTIVE DIRECTOR)
  • LEAH A HARTMAN (PRESIDENT)
  • NICOLE FRANK (VICE PRESIDENT)
  • KELLIE DICKERSON (VICE PRESIDENT/TREASURER)

Highest reported compensation

  • JENNIFER SCHMALTZ (CEO/SECRETARY): $248,118 total reported compensation
  • JEFFREY RISSER (CHIEF FINANCIAL OFFICER): $182,276 total reported compensation
  • MINDY YOUNG MARSHALL (CHIEF ADMINISTRATION OFFICER): $140,243 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To hold title to or to rent real and personal property to be used for housing and meeting purposes of college chapters of kappa alpha theta fraternity, inc. For the benefit of the fraternity's members.

What it reported doing in 2024

The organization administers housing and operations at various college campuses as well as oversees administration of housing and operations of local housing corporations at various college campuses.

Operating model

Revenue model
Earned-program. 87% 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: 48
  • Accountability: 91
  • Sustainability: 64
  • Growth: 60

Detailed rating inputs

Financial Efficiency

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

Transparency & Controls

  • Consistency checks: 84.6%; rating input score 85; 0th 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: 0%; rating input score 0; 4th percentile among comparable filings
  • Major donor itemization: Yes; rating input score 100
  • Related-party transparency: Limited

Accountability

  • Independent voting board: 100%; rating input score 100; 66th 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: 7.6%; rating input score 61; 61st percentile among comparable filings
  • Total-asset coverage ratio: 3.21; rating input score 77; 77th percentile among comparable filings
  • Liabilities to assets ratio: 0.62; rating input score 21; 21st percentile among comparable filings
  • Officer compensation ratio: 0.5%; rating input score 90; 90th percentile among comparable filings

Growth

  • Program expense growth: Limited
  • Revenue growth: 23.6% per year; rating input score 100; 94th percentile among comparable filings
  • Asset growth: 19.3% per year; rating input score 100; 88th percentile among comparable filings

Details

  • Where the money goes: Financial trends and filed revenue, expense, asset, and liability detail
  • Governance: 5 of 5 board members independent · 7 of 9 filing controls reported
  • Programs: 1 filed program accomplishment
  • Leadership: top reported pay $248K · 10 people listed · 0 of 6 pay-setting controls reported
  • Highest-paid contractors: 5 contractors listed · $9.3M reported
  • Consistency: 14 of 16 current checks pass · 2 findings to review
  • Schedules: 7 filed schedules · includes major donors, grants, and executive pay
  • Filing history: 14 filing years from 2011 to 2024
  • Contacts: How to reach this organization
  • Related organizations: 4 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.

  • High — Transparency & Controls: Pay-setting controls scored 0/100.
  • High — Transparency & Controls: Grant itemization coverage scored 0/100.
  • Review — Accountability: Governance controls: 2 of 9 not reported.
  • Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.
  • Review — Transparency & Controls: Schedule R controlled transactions itemized did not reconcile in the filed values.
  • High — Sustainability: Liabilities to assets ratio scored 21/100.