St Michael Community Education Endowment Fund
- Assets
- $1.0m
- Revenue
- $264.0
- Investments
- $0.0
- Employees
- 0
- Location
- St Michael, MN
- Founding
- 07/2000
- Data as of
- 12/2022
- EIN
- 41-1790330
Organization Overview
St Michael Community Education Endowment Fund is located in St Michael, MN. The organization was established in 2000. According to its NTEE Classification (B11) the organization is classified as: Single Organization Support, 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. St Michael Community Education Endowment Fund 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 12/2022, St Michael Community Education Endowment Fund generated $264.0 in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (55.1%) each year. All expenses for the organization totaled $34.7k during the year ending 12/2022. 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
PROVIDE FINANCIAL ASSISTANCE TO LOCAL PRE-K THRU 8 CATHOLIC SCHOOL. HOPING TO LESSEN FINANCIAL BURDEN ON INDIVIDUAL FAMILIES BY PROVIDING FUNDS TO PURCHASE TECHNOLOGY OR OTHER ACADEMIC NEEDS DEEMED NECESSARY BY STAFF, TO EXCEL IN EDUCATING CHILDREN IN OUR COMMUNITY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE ENDOWMENT FUND PAYS FOR ACCOUNTING SERVICES ANNUALLY ; ALL IN ADMINISTRATIVE FUNCTION OF THE ORGANIZATION. SINCE MOVING OUR MONEY TO CUFF WE PAY NO ADMINISTRATIVE/INVESTMENT FEES. ACCOUNTING SERVICES ARE ORDINARY AND NECESSARY EXPENSES IN OUR EFFORTS TO PROVIDE FINANCIAL SUPPORT TO THE LOCAL CATHOLIC SCHOOL AND TO COMPLY WITH GOVERNMENTAL REGULATIONS.
IF INVESTMENT RESULTS ALLOW, THE ENDOWMENT FUND MAKES AN ANNUAL CONTRIBUTION TO THE ST MICHAEL CATHOLIC SCHOOL. OUR BY-LAWS READ: UP TO 95% OF INVESTMENT INCOME MAY BE GIVEN ANNUALLY. BEGINNING 2017 WILL IMPLEMENT A POLICY FOR A RESERVE FUND FOR YEARS OF "DOWN" MARKETS - ALLOWING A DONATION TO THE SCHOOL, WITHOUT DIPPING INTO PRINCIPLE DOLLARS.
Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Steve House Director | Trustee | 0.2 | $0 |
Kevin Rose Past Preside | Trustee | 0.2 | $0 |
Linda G Borchardt Treasurer | Officer | 1 | $0 |
Brian Bruner President | Officer | 0.5 | $0 |
Leroy Lindenfelser V Pres | Officer | 0.2 | $0 |
Steve Sustacek Secretary | Officer | 0.5 | $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 | $181 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $181 |
| Total Program Service Revenue | $0 |
| Investment income | $83 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $264 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $34,000 |
| 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 | $645 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $25 |
| 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 | $0 |
| All other expenses | $0 |
| Total functional expenses | $34,670 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $43,076 |
| 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 | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $991,566 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $1,034,642 |
| 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 | $1,034,642 |
| Net assets with donor restrictions | $0 |
| 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 | $1,034,642 |
Grants Awarded
Over the last fiscal year, St Michael Community Education Endowment Fund has awarded $45,300 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ST MICHAEL CATHOLIC SCHOOLST MICHAEL CATHOLIC SCHOOL PURPOSE: CASH DONATION-ANNUAL | $30,300 |
ST MICHAEL CATHOLIC SCHOOLST MICHAEL CATHOLIC SCHOOL PURPOSE: MATCHING GRANT REQST | $15,000 |