Beyond HBCUs, the Divine 9 maybe African America’s most well known set of social institutions. In existence since 1906 at the founding of Alphi Phi Alpha to the last formation of Iota Phi Theta in 1963 these nine African American social organizations have immense cultural capital among African America’s higher educated families. Reportedly with 4 million members across all nine organizations, this membership constitutes roughly 10 percent of the African American population. Many African American families establishing legacy ties to certain Divine 9 organizations while more show a diverse engagement with families often having members among a few of the Divine 9. Like most fraternity and sorority organizations, members join during their undergraduate matriculation, although there are opportunities to join beyond that. There of course is also a financial cost (often significant) to join and maintain active membership with these social organizations.
The Divine 9 often promote themselves to be engaged in community involvement, scholarship, networking, and the like. Typically social organizations are a fundamental aspect that precludes economic institutions and development. As such one could argue that the Divine 9 should be able to be galvanize some aspects of economic institutional development for African America. But what exactly is the financial health of the Divine 9 themselves?
HBCU Money took at look at the most recent tax filings available through ProPublica that each organization has available. *The filings land between 2019-2021 making a flat observation not possible and highlighting one of the issues around financial transparency and consistency that many African Americans complain about in regards to African American institutions. Previous year in parentheses.
DIVINE 9 Combined
Revenues: $120 million ($109.4 million)
Investment Income: $2 million ($1.1 million)
Investment Income As % of Revenue: 1.7% (1%)
Expenses: $93.3 million ($95.7 million)
Total Key Employees’ Compensation: $12.7 million (N/A)
Net Income: $26.8 million ($14.4 million)
Net Assets: $184 million ($152.1 million)
Revenues: $32 million ($22.2 million)
Investment Income: $0 ($0)
Investment Income As % of Revenue: 0%
Expenses: $26.4 million ($19.4 million)
Total Key Employees’ Compensation: $4.3 million ($4.1 million)
Net Income: $5.6 million ($3.5 million)
Net Assets: $49.9 million ($38.2 million)
Revenues: $10.1 million ($7.9 million)
Investment Income: $1.2 million ($713,000)
Investment Income As % of Revenue: 11.9%
Expenses: $7 million ($5.4 million)
Total Key Employees’ Compensation: $1.7 million ($1.6 million)
Net Income: $3.1 million ($2.5 million)
Net Assets: $28.1 million ($24.2 million)
Revenues: $43.9 million ($43.7 million)
Investment Income: $680,500 ($202,400)
Investment Income As % of Revenue: 1.6%
Expenses: $33 million ($37.8 million)
Total Key Employees’ Compensation: $1.5 million (N/A)
Net Income: $11 million ($5.9 million)
Net Assets: $59.6 million ($48.6 million)
Revenues: $471,500 ($566,200)
Investment Income: $0 ($0)
Investment Income As % of Revenue: 0%
Expenses: $323,300 ($591,100)
Total Key Employees’ Compensation: $117,500 ($108,300)
Net Income: $148,200 ($ -24,900)
Net Assets: $226,100 ($77,900)
Revenues: $6.8 million ($10.8 million)
Investment Income: $4,000 ($29,800)
Investment Income As % of Revenue: 0%
Expenses: $5.5 million ($10 million)
Total Key Employees’ Compensation: $1 million ($959,400)
Net Income: $1.4 million ($823,700)
Net Assets: $12.6 million ($11 million)
Revenues: $5.7 million ($3.7 million)
Investment Income: $17,700 ($15,700)
Investment Income As % of Revenue: 0%
Expenses: $4.6 million ($2.4 million)
Total Key Employees’ Compensation: $1 million ($793,700)
Net Income: $1.1 million ($1.2 million)
Net Assets: $4.3 million ($3.2 million)
Revenues: $8.2 milion ($7.3 million)
Investment Income: $70,600 ($78,700)
Investment Income As % of Revenue: 1%
Expenses: $6.2 million ($6.4 million)
Total Key Employees’ Compensation: $1.2 million ($1.3 million)
Net Income: $1.9 million ($903,000)
Net Assets: $8.6 million ($7.2 million)
Revenues: $5.2 million ($3.2 million)
Investment Income: $0 ($524)
Expenses: $5.1 million ($4.4 million)
Total Key Employees’ Compensation: $941,000 ($686,300)
Net Income: $177,000 ($ -1.2 million)
Net Assets: $956,200 ($2.3 million)
Revenues: $7.6 million ($10 million)
Investment Income: $23,400 ($71,900)
Investment Income As % of Revenue: 0%
Expenses: $5.2 million ($9.3 million)
Total Key Employees’ Compensation: $980,000 ($928,300)
Net Income: $2.4 million ($780,700)
Net Assets: $19.7 million ($17.3 million)
SOURCE: ProPublica