ALPHA IOTA BUILDING CORPORATION

EIN: 853069043 Recreation & Sports

Cave Springs, AR

Total Revenue
$553,603
Total Expenses
$181,035
Total Assets
$416,141
Net Assets
$416,141
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Financial Trends

Organization Details

Formation Year
2020
Legal Domicile
AR
Principal Officer
John Looney
Phone
9797776851
Tax Period
2024-08-01 to 2025-07-31

ALPHA IOTA BUILDING CORPORATION, founded in 2020, is a small nonprofit in the Recreation & Sports sector that reported $554K in total revenue in fiscal year 2024. The organization ran a surplus of $373K, a strong 67% operating margin.

Mission

Form 990-EZ, Part III, Primary Exempt Purpose- To Unite College Men of Culture, Patriotism, and Honor in the Bond of Fraternity to Encourage Honorable Achievement in Every Field of Human Endeavor, To Promote the Spiritual, Social, Intellectual, and Moral Welfare of its Members; To Assist in the Aims and Purposes of Colleges and Universities; To Inspire Service in the Public Interest. The Building Corporation takes an active role in the various social activities and other functions of the chapter. The IRS has that an organization formed to buy, lease, and maintain a building exclusively for an organization recognized under 501C7 (Alpha Gamma Rho Fraternity) itself qualifies for exemption under 501c7 if it takes an active role in various social activities and other chapter functions. See e.q. Letter Ruling 8207007 and Revenue Ruling 64-118. The Alpha Iota Building Corporation is such an organization and therefore qualifies for exemption under Code Section 501C7.

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Trantor Score

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

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Financial Overview (2024)

Revenue Breakdown

Contributions & Grants $553,603
Program Service Revenue $0
Investment Income $0
Other Revenue $0
TOTAL REVENUE $553,603

Expense Breakdown

Grants Paid $0
Salaries & Benefits $0
Fundraising Expenses $0
Program Expenses $0
Other Expenses $41,468
TOTAL EXPENSES $181,035

Year-over-Year Comparison

2024 2023 Change
Revenue $553,603 N/A N/A
Expenses $181,035 N/A N/A
Net Income $372,568 $0 N/A
Key Indicators
Grants to Organizations Grants to Individuals Lobbying Political Activity Foreign Activities Donor Advised Fund Schedule B Required
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Governance

Voting Members
7
Independent Members
7
Employees
N/A
Volunteers
8

Governance Policies

Conflict of Interest Policy
Whistleblower Policy
Document Retention Policy

Special Practices & Reported Activities

Operated a School
Operated a Hospital
Provided First Class Travel
Reported Conflict of Interest
Reported Asset Diversion
Excess Benefit Transaction
Made Political Expenditures
Engaged in Lobbying
Operated Donor Advised Fund
Maintained Art Collections
Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers
0
$0
Total Directors
7
$25,000
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
Nathan Morton Director & Architect 10
Director
$25,000 $0 $25,000
John Looney President & Director 5
Director
$0 $0 $0
Sam Smith Treasurer & Director 2
Director
$0 $0 $0
Bill Groce Vice President & Director 2
Director
$0 $0 $0
Bill Moss Secretary & Director 2
Director
$0 $0 $0
Corey Wilson Director 2
Director
$0 $0 $0
Alan Fortenberry Director 2
Director
$0 $0 $0
Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year Revenue Expenses Assets Net Income
2025 $553,603 $181,035 $416,141 $372,568
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