Lourdes Foundation Inc
- Assets
- $9.4m
- Revenue
- $1.9m
- Investments
- $0.0
- Employees
- 0
- Location
- Rochester, MN
- Founding
- 05/1974
- Data as of
- 06/2022
- EIN
- 23-7367336
Organization Overview
Lourdes Foundation Inc is located in Rochester, MN. The organization was established in 1974. 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. Lourdes 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, Lourdes Foundation Inc generated $1.9m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 3.8% each year. All expenses for the organization totaled $500.3k during the year ending 06/2022. While expenses have increased by 3.0% per year over the past 7 years. They've been increasing with an increasing level of total revenue. 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
TO UNITE ALUMNI, PARENTS, AND FRIENDS IN CELEBRATION AND SUPPORT OF ROCHESTER CATHOLIC SCHOOLS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE SCHOLARSHIP PROGRAM AWARDED $361,324 TO 99 STUDENTS IN FINANCIAL NEED IN ROCHESTER CATHOLIC SCHOOLS, PRIMARILY AT LOURDES HIGH SCHOOL (247 AWARDS). 7 AWARDS WERE AT THE ELEMENTARY LEVEL, 25 AWARDS AT THE MIDDLE SCHOOL LEVEL AND 215 AWARDS AT THE HIGH SCHOOL LEVEL. $9,188 OF AWARDS WERE OF COLLEGE SCHOLARSHIPS.
SUPPORT OF ROCHESTER CATHOLIC SCHOOL STUDENT ACTIVITIES, ATHLETICS, FINE ARTS AND MUSIC, AND PHILANTHROPIC ADVANCEMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Darci Kopischke Resigned Director | Trustee | 1 | $0 |
Kathleen Allison Director | Trustee | 1 | $0 |
Gerry Nonn Secretary | OfficerTrustee | 1 | $0 |
Kevin Broadbent Director | Trustee | 1 | $0 |
Nick Forliti Director | Trustee | 1 | $0 |
Kc Reed 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 | $1,019,102 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,019,102 |
| Total Program Service Revenue | $0 |
| Investment income | $226,616 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $691,572 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,937,290 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $437,215 |
| Grants and other assistance to domestic individuals. | $0 |
| 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 | $12,925 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $43,791 |
| Fees for services: Other | $0 |
| Advertising and promotion | $25 |
| Office expenses | $506 |
| Information technology | $62 |
| 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 | $0 |
| All other expenses | $5,798 |
| Total functional expenses | $500,322 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $226,234 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $600 |
| 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 | $10,000 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $9,143,650 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $16,363 |
| Total assets | $9,396,847 |
| Accounts payable and accrued expenses | $15,026 |
| 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 | $15,026 |
| Net assets without donor restrictions | $215,563 |
| Net assets with donor restrictions | $9,166,258 |
| 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 | $9,396,847 |
Grants Awarded
Over the last fiscal year, Lourdes Foundation Inc has awarded $172,490 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LOURDES HIGH SCHOOL PURPOSE: STUDENT SCHOLARSHIPS | $167,430 |
CENTRAL COLLEGE PURPOSE: STUDENT SCHOLARSHIPS | $5,060 |