Aim Higher Foundation
- Assets
- $6.9m
- Revenue
- $2.4m
- Investments
- $0.0
- Employees
- 4
- Location
- St Paul, MN
- Founding
- 01/2014
- Data as of
- 06/2021
- EIN
- 46-3935682
Organization Overview
Aim Higher Foundation is located in St Paul, MN. The organization was established in 2014. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. As of 06/2021, Aim Higher Foundation employed 4 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aim Higher 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 06/2021, Aim Higher Foundation generated $2.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 26.9% each year . All expenses for the organization totaled $2.5m during the year ending 06/2021. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE AIM HIGHER FOUNDATION (AHF) PROVIDES SCHOLARSHIPS TO CHILDREN IN THE ARCHDIOCESE OF ST. PAUL AND MINNEAPOLIS FOR TUITION ASSISTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AIM HIGHER FOUNDATION PROVIDES STUDENT-BASED TUITION ASSISTANCE SCHOLARSHIPS SO THAT MORE CHILDREN IN THE TWELVE-COUNTY METRO AREA CAN HAVE ACCESS TO THE LIFE-CHANGING BENEFITS OF A CATHOLIC EDUCATION. THE AIM HIGHER FOUNDATION HAS AWARDED CLOSE TO $11 MILLION IN SCHOLARSHIPS SINCE ITS INCEPTION. WE BELIEVE THAT CATHOLIC SCHOOLS PROVIDE AN EDUCATION THAT IS SECOND TO NONE AND PROVIDES CHILDREN WITH THE TOOLS TO AIM HIGHER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Jean Houghton President | Officer | 60 | $186,737 |
Sarah Schumacher Board Chair | OfficerTrustee | 5 | $0 |
Aida Schaefer Treasurer | OfficerTrustee | 1 | $0 |
Donal Mulligan Vice Chair | OfficerTrustee | 1 | $0 |
Karen Rauenhorst Board Member | Trustee | 2 | $0 |
Douglas Milroy Former Board Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $153,000 |
| Related organizations | $0 |
| Government grants | $4,000 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,215,222 |
| Noncash contributions included in lines 1a–1f | $10,467 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,372,222 |
| Total Program Service Revenue | $0 |
| Investment income | $7,817 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $64,832 |
| Net Income from Fundraising Events | -$6,251 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,438,620 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,997,000 |
| 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. | $193,713 |
| Compensation of current officers, directors, key employees. | $47,346 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $163,110 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $711 |
| Payroll taxes | $24,487 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $53,697 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $6,660 |
| Fees for services: Other | $30,544 |
| Advertising and promotion | $5,985 |
| Office expenses | $14,298 |
| Information technology | $8,357 |
| Royalties | $0 |
| Occupancy | $30,480 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,630 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,579 |
| Insurance | $2,198 |
| All other expenses | $4,038 |
| Total functional expenses | $2,538,487 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,403,642 |
| Savings and temporary cash investments | $974,916 |
| Pledges and grants receivable | $3,677,960 |
| 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 | $6,179 |
| Net Land, buildings, and equipment | $5,746 |
| Investments—publicly traded securities | $829,145 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,897,588 |
| Accounts payable and accrued expenses | $11,785 |
| Grants payable | $2,379,337 |
| 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 | $2,170 |
| Total liabilities | $2,393,292 |
| Net assets without donor restrictions | $25,243 |
| Net assets with donor restrictions | $4,479,053 |
| 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 | $6,897,588 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Aim Higher Foundation has recieved totaling $17,500.
| Awarding Organization | Amount |
|---|---|
Sangre De Christo Charitable Trust Chapel Hill, NC PURPOSE: CHARITABLE | $10,000 |
Battenkill Foundation Chapel Hill, NC PURPOSE: GENERAL SUPPORT | $7,500 |
Endowment Analysis
| Beg. Balance | $644,998 |
| Earnings | $196,326 |
| Admin Expense | $5,855 |
| Grants | $10,400 |
| Ending Balance | $825,069 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Brahmananda Saraswati Foundation Fairfield, IA | $96,502,507 | $13,140,832 |
Aim Higher Foundation St Paul, MN | $6,897,588 | $2,438,620 |
Presbyterian Frontier Fellowship Richfield, MN | $5,941,801 | $2,372,271 |
Minnesota Education Trust St Paul, MN | $12,235,946 | $1,363,771 |
Cabc Usa Inc Waukesha, WI | $822,280 | $1,932,888 |
Norwalk Area Ministerial Association Norwalk, IA | $73,039 | $574,226 |
Weaverland Financial Aid Of Wisconsin Loyal, WI | $18,675,718 | $520,520 |
Second Impressions Thrift Store Inc Fond Du Lac, WI | $382,455 | $548,204 |
Dr Willard E And Ella N Romberg Supporting Foundation New Ulm, MN | $5,025,617 | $551,325 |
United Church Of Christ Foundation Of Wisconsin Deforest, WI | $10,913,581 | $126,217 |
Vision For Haitis Tomorrow Spooner, WI | $182 | $151,405 |
Care And Share Shop Mountain Lake, MN | $151,086 | $172,969 |