Minot Catholic Schools Foundation
- Assets
- $7.8m
- Revenue
- $1.8m
- Investments
- $22.0k
- Employees
- 0
- Location
- Minot, ND
- Founding
- 07/1977
- Data as of
- 06/2022
- EIN
- 45-0340749
Organization Overview
Minot Catholic Schools Foundation is located in Minot, ND. The organization was established in 1977. 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. Minot Catholic Schools Foundation 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, Minot Catholic Schools Foundation generated $1.8m in total revenue. This organization has experienced exceptional growth, as over the past 7 years, it has increased revenue by an average of 30.1% each year . All expenses for the organization totaled $1.1m during the year ending 06/2022. While expenses have increased by 17.3% 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
THE FOUNDATION RAISES MONEY TO HELP SUPPORT BISHOP RYAN HIGH SCHOOL THROUGH DIRECT DISBURSEMENTS AS WELL AS WORK STUDY DISBURSEMENTS TO STUDENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
DISBURSEMENTS TO BISHOP RYAN HIGH SCHOOL FOR WORK STUDY TO PAY TUITION FOR STUDENTS ATTENDING BISHOP RYAN HIGH SCHOOL AS WELL AS MATH BOOKS AND OTHER PROGRAM RELATED EXPENSE
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jon Backes Director | Trustee | 0.5 | $0 |
Dean Rubbleke Director | Trustee | 0.5 | $0 |
Michael Christianson Director | Trustee | 0.5 | $0 |
Kathleen Gaddie Director | Trustee | 0.5 | $0 |
Danny Schall Vice President | OfficerTrustee | 0.5 | $0 |
Gregg Magnuson President | OfficerTrustee | 2 | $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 | $1,058,657 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,058,657 |
| Total Program Service Revenue | $0 |
| Investment income | $287,239 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $144 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $4,687 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,778,035 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $943,507 |
| 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 | $10 |
| Fees for services: Accounting | $3,500 |
| 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 | $1,780 |
| Information technology | $198 |
| 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 | $362 |
| All other expenses | $13,481 |
| Total functional expenses | $1,056,858 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $100,723 |
| Savings and temporary cash investments | $261,646 |
| 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 | $7,390,992 |
| Investments—other securities | $21,995 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $7,775,356 |
| 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 | $304,237 |
| Net assets with donor restrictions | $7,471,119 |
| 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 | $7,775,356 |
Grants Awarded
Over the last fiscal year, Minot Catholic Schools Foundation has awarded $360,174 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
MINOT CATHOLIC SCHOOLS PURPOSE: FULFILL FOUNDATION'S MISSION STATEMENT | $258,800 |
MINOT STATE UNIVERSITY PURPOSE: PASSTHROUGH GRANT TO HELP FULFILL THE MINOT CATHOLIC SCHOOLS FOUDATION MISSION | $101,374 |