Annual Report - Alpha Kappa Alpha Educational Advancement ...

message FRom The TReasuReR
I am pleased to present this Treasurer’s Report for the Alpha Kappa Alpha
Educational Advancement Foundation, Inc. for the year ended December 31,
2011.
At December 31, 2011, total assets of the Foundation were $6.7 million,
an increase from $6.0 million reported at the end of 2010. Liabilities were
$162,765 and consisted mainly of $26,525 of leases payable, $109,990 of
accounts payables/accrued expenses and deferred revenue of $26,250. Total
net assets were $6.6 million at the end of 2011, an increase from $5.9 million
in 2010. The largest asset is the investment account which was $6.4 million, an
increase from $5.8 million at December 31, 2010. Investments represent 95% of the total assets.
Revenues were $1.8 million in 2011, a decrease of 8% or ($148,366) from 2010. Unrestricted contributions of
$507,606 during 2011 were slightly offset by a decrease in investment income from $607,185 in 2010 to $136,095
in 2011. The decrease in investment income was due to negative market performance on the investments during
July, August and September of 2011. Membership dues of $517,585 increased slightly from $510,690 in 2010 and
endowments of $602,486 increased from the 2010 total of $442,953.
Despite the economy, the number of endowments continue to grow. We have a total of 207 endowments of
which 125 are capitalized. Your generous support insures that the Foundation’s mission to perpetuate lifelong
learning continues to be sustained as we continue to Create Global Opportunities for Success.
Delores Y. McKinley, CPA
Treasurer
2011 Financials
(in dollars)
$8,000,000
$8,000,000
0
0
Increase in Total Assets:12% Increase in Investments: 11%
$2,000,000
$1,200,000
0
0
Decrease in Revenues: -8% Total Expenses Remain Flat
Fund Balance 2011 2010
Total
Increase in Fund Balance:12%
$6,580,800 $5,855,960
2010
2011
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