2025-05-27T12:35:15-07:00 2023-12-31 272291102 Four K Accounting Service 525 Winston Ave Wilmington DE 19804 990 2023-01-01 452410261 The 1926 FOUNDATION Inc 1926 2158024546 3900 FORD RD UNIT 18G PHILADELPHIA PA 19131 Terri Luna Treasurer 2158800345 2024-05-14 1 1 Keith Smith P01274491 8564624243 2024-05-14 2023 2025-03-06 01:10:19Z X Brenda Jonson 56 Currant Drive Clarksboro NJ 08020 90659 0 X the1926foundationinc.com X 2011 PA PROVIDING SCHOLARSHIP ASSISTANCE TO HIGH SCHOOL AND COLLEGE STUDENTS THAT PLAN TO ATTEND COLLEGE OR ARE ALREADY IN COLLEGE AND ALSO PROVIDING ASSISTANCE FOR OUTSTANDING SERVICE PROVIDED BY ORGANIZATIONS MAKING A POSITIVE DIFFERENCE IN THE COMMUNITY. 16 0 0 0 0 0 42406 45894 10000 0 16 0 0 7612 52422 53506 0 23326 0 0 0 0 3619 600 600 52537 19910 56156 43836 -3734 9670 217240 217986 20 0 217220 217986 The Mission of the 1926 Foundation is to support the programs of the Omega Omega Chapter of Alpha Kappa Alpha Sorority, Inc. while also providing scholarship assistance to high school and college students that plan to attend college or are already in college. 0 0 19100 0 The 1926 Foundation, Inc. provides annual scholarship assistance to High School students planning to attend college and students presently in college. 4226 0 0 The 1926 Foundation, Inc. funds the Muncy Project. This Project allows children to connect with incarcerated parents while the Foundation hosts them on a day trip to Muncy Prison. 0 0 0 23326 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 X 16 0 0 0 0 0 0 0 0 1 1 0 0 1 0 0 0 0 0 0 PA X Terri Luna 2158772247 192 Moria Place Aston PA 19014 Brenda Johnson President 1 1 X 0 0 0 Leah Smith Sheppard Vice President 1 1 X 0 0 0 Terri Luna Treasurer 1 1 X 0 0 0 Cressa Morris Secretary 1 1 X 0 0 0 Shawn Blue Financial Secretary 1 1 X 0 0 0 Cheryl Croxton Carter Parliamentarian 1 1 X 0 0 0 Lorina Marshall Blake Board Member 1 1 X 0 0 0 Charlene Collins Board Member 1 1 X 0 0 0 Alexis Rylander Board Member 1 1 X 0 0 0 Alma Plummer Board Member 1 1 X 0 0 0 Ashley Session Board Member 1 1 X 0 0 0 Jayne Downey Board Member 1 1 X 0 0 0 Sannah Crawford Board Member 1 1 X 0 0 0 Stephanie Marsh Board Member 1 1 X 0 0 0 Stephanie Austin-Johnson Board Member 1 1.00 X 0 0 0 Nina Gordon Board Member 1 1 X 0 0 0 0 0 0 0 0 0 0 0 X 0 20900 16690 0 0 8304 0 45894 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 44765 5420 37153 7612 0 7612 0 53506 0 0 7612 X 0 0 23326 23326 0 0 600 600 8961 8961 0 0 7 7 0 0 5963 5963 Miscellanous Expenses 4679 0 4679 0 Foundation Meal Reimbursement 300 0 300 0 0 43836 23326 19910 600 X 32135 185685 179943 32161 5162 140 0 217240 217986 0 20 0 20 0 X 217220 217986 0 0 217220 217986 217240 217986 X 9670 0 0 0 0 -8904 X 0 0 0 X 15763 21804 47067 52406 45894 182934 15763 21804 47067 52406 45894 182934 182934 7 7 0 0 182941 45894 0.99996 1 X Luncheon Fashion Show 63920 0 63920 0 0 12768 29133 7942 1000 Ensemble Income 6532 0 6532 0 0 0 0 0 2919 0 70452 0 70452 0 0 12768 29133 7942 3919 53762 16690 1 The 1926 Foundation received zero in individual contribution assistance over $5,000 in the tax year 2023. 0 0 0 Schedule I, Part I, Line 2 Proceeds are reviewed and voted on by the Board of Directors. All documents and accounting records are maintained be the Treasurer. Form 990, Header, Line B Material differences were identified in the financial reporting of the 1926 Foundation, necessitating the preparation of an amended return to provide a more accurate representation of the Foundation's financial position. Form 990, Part VI, Section B, Line 11b All members receive a copy of the 990 report before the annual meeting to review and vote to approve. Form 990, Part VI, Section C, Line 19 All financial document and policies related to the foundation's operation are made available upon request. Form 990, Part VIII, Line 1b Due to updates in accounting reporting practices, the amount originally reported on Line 1b has been revised from $21,025 to $20,900. This adjustment reflects a more accurate classification of revenue in accordance with current financial reporting standards. Form 990, Part VIII, Line 1c As a result of accounting reporting changes, the amount previously reported on Line 1c has been adjusted from $8,970.00 to $16,690.00. This reclassification ensures compliance with updated reporting requirements and more accurately reflects the nature of the transaction. Form 990, Part VIII, Line 1f As a result of accounting reporting changes, the amount previously reported on Line 1f has been adjusted from $7,313.00 to $8,304.00. This reclassification ensures compliance with updated reporting requirements and more accurately reflects the nature of the transaction. Form 990, Part IX, Line 13 As a result of accounting reporting changes, the amount previously reported on Line 13 has been adjusted from $1,218.00 to $4,479.00. This reclassification ensures compliance with updated reporting requirements and more accurately reflects the nature of the transaction. Form 990, Part IX, Line 18 As a result of accounting reporting changes, the amount previously reported on Line 18 has been adjusted from $6,539.00 to $0.00. This reclassification ensures compliance with updated reporting requirements and more accurately reflects the nature of the transaction. Form 990, Part IX, Line 20 As a result of accounting reporting changes, the amount previously reported on Line 20 has been adjusted from $0.00 to $7.00. This reclassification ensures compliance with updated reporting requirements and more accurately reflects the nature of the transaction. Form 990, Part IX, Line 21 Due to changes in accounting reporting standards, the previously reported amount of $44,941 under "Payments to Affiliates" has been reclassified to $0. This adjustment reflects a more accurate categorization of the underlying transactions in accordance with current financial reporting guidelines. The reclassified amount has been appropriately recorded under the correct expense or functional category. Form 990, Part IX, Line 23 As a result of accounting reporting changes, the amount previously reported on Line 23 has been adjusted from $0.00 to $5,963.00. This reclassification ensures compliance with updated reporting requirements and more accurately reflects the nature of the transaction. Form 990, Part IX, Line 24a - 24d As a result of accounting reporting changes, the amount previously reported on Line 24a-24d has been adjusted from $6,539.00 to $4,979.00. This reclassification ensures compliance with updated reporting requirements and more accurately reflects the nature of the transaction. Form 990, Part X, Line 1 As a result of accounting reporting changes, the amount previously reported on Line 1 has been adjusted from $24,994.00 to $185,685.00. This reclassification ensures compliance with updated reporting requirements and more accurately reflects the nature of the transaction. Form 990, Part X, Line 2 As a result of accounting reporting changes, the amount previously reported on Line 2 has been adjusted from $186,250.00 to $32,161.00. This reclassification ensures compliance with updated reporting requirements and more accurately reflects the nature of the transaction. Form 990, Part X, Line 4 As a result of accounting reporting changes, the amount previously reported on Line 4 has been adjusted from $5,140.00 to $141.00. This reclassification ensures compliance with updated reporting requirements and more accurately reflects the nature of the transaction. Form 990, Part XI, Line 8 As a result of accounting reporting changes, the amount previously reported on Line 8 has been adjusted from $-5,415.00 to $-939.00. This reclassification ensures compliance with updated reporting requirements and more accurately reflects the nature of the transaction. Form 990, Part XI, Line 9 The amount of $-8,901 reported on Part XI, Line 9 - Other Changes in Net Assets represents a series of adjusting entries made during the preparation of the organization's financial statements to ensure compliance with generally accepted accounting principles (GAAP). These adjustments were necessary to reconcile certain improper entries originally recorded in cash accounts that should have been allocated to the Statement of Financial Activities (Income Statement). The reclassification of these entries was conducted to more accurately reflect the timing and nature of revenues and expenses, and to align the organization's financial reporting with standard accounting practices. This correction allows the Foundation to present a more complete and accurate picture of its financial position for the reporting year and upholds the integrity of its financial disclosures. This amended Form 990 for the tax year 2023 is being filed to reflect corrections resulting from updates in accounting reporting practices identified after the original return was submitted. Specifically, adjustments were made to more accurately classify revenue and expense items in accordance with current financial reporting standards. These revisions affect Lines 1a-1h,2a,13,18, and Payments to Affiliates, and have been explained in detail on Schedule O. No changes have been made to the organization's overall financial position and programmatic activities.