Schlarman Foundation Inc
- Assets
- $4.1m
- Revenue
- $594.1k
- Investments
- $0.0
- Employees
- 0
- Location
- Danville, IL
- Founding
- 03/1975
- Data as of
- 06/2022
- EIN
- 23-7367151
Organization Overview
Schlarman Foundation Inc is located in Danville, IL. The organization was established in 1975. According to its NTEE Classification (B25) the organization is classified as: Secondary & High Schools, under the broad grouping of Education and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Schlarman Foundation Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Schlarman Foundation Inc generated $594.1k in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 20.8% each year . All expenses for the organization totaled $133.5k during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
FINANCIAL SUPPORT TO PROMOTE CATHOLIC EDUCATION
Describe the Organization's Program Activity:
Part 3 - Line 4a
FINANCIAL SUPPORT PROVIDED TO SCHLARMAN ACADEMY IN SUPPORT OF CATHOLIC EDUCATION, INCLUDING SCHOLARSHIPS PROVIDED TO SCHLARMAN STUDENTS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Mark Pellegrini Treasurer | OfficerTrustee | 1 | $0 |
Nancy O'kane President | OfficerTrustee | 1 | $0 |
Raymond Broderick Vice President | OfficerTrustee | 1 | $0 |
FR Bowan Schmitt Director | Trustee | 1 | $0 |
Becky Schlecht Director | Trustee | 1 | $0 |
Brian Neville Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $461,237 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $461,237 |
| Total Program Service Revenue | $0 |
| Investment income | $55,720 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $5,119 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $594,076 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,279 |
| Grants and other assistance to domestic individuals. | $103,332 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,484 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $11,227 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $1,564 |
| All other expenses | $143 |
| Total functional expenses | $133,482 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $197,567 |
| Savings and temporary cash investments | $110,832 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $1,306,736 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $2,440,000 |
| Total assets | $4,055,135 |
| Accounts payable and accrued expenses | $0 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $1,237,875 |
| Net assets with donor restrictions | $2,817,260 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $4,055,135 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Schlarman Foundation Inc has recieved totaling $52,500.
| Awarding Organization | Amount |
|---|---|
Fidelity Investments Charitable Gift Fund Boston, MA PURPOSE: For grant recipient's exempt purposes | $52,500 |
Endowment Analysis
| Beg. Balance | $2,794,400 |
| Earnings | $32,172 |
| Grants | $32,425 |
| Ending Balance | $2,794,147 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Concept Schools Inc Schaumburg, IL | $73,509,189 | $54,687,645 |
Lake Forest Academy Lake Forest, IL | $113,447,241 | $34,795,522 |
John Burroughs School St Louis, MO | $206,476,145 | $33,752,535 |
Perspectives Charter School Chicago, IL | $57,974,185 | $31,269,423 |
Hope Christian Schools Inc Waukesha, WI | $8,169,327 | $30,403,375 |
Wheaton Academy West Chicago, IL | $41,216,883 | $18,989,425 |
Lexington School Inc Lexington, KY | $82,981,335 | $20,273,926 |
Westminster Christian Academy Association Town Country, MO | $72,930,151 | $20,133,441 |
Barstow School Kansas City, MO | $36,041,263 | $20,616,227 |
St Johns Northwestern Military Academy Inc Delafield, WI | $17,393,633 | $8,781,742 |
Trinity Schools Inc South Bend, IN | $7,029,834 | $13,749,929 |
Conserve School Corporation Land O Lakes, WI | $44,507,562 | $11,154,750 |