Sacred Heart Foundation
- Assets
- $9.7m
- Revenue
- $661.1k
- Investments
- $0.0
- Employees
- 2
- Location
- East Grand Forks, MN
- Founding
- 06/2015
- Data as of
- 12/2021
- EIN
- 47-2142727
Organization Overview
Sacred Heart Foundation is located in East Grand Forks, MN. The organization was established in 2015. According to its NTEE Classification (X19) the organization is classified as: Support N.E.C., under the broad grouping of Religion-Related and related organizations. As of 12/2021, Sacred Heart Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sacred Heart 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 12/2021, Sacred Heart Foundation generated $661.1k 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 (28.0%) each year. All expenses for the organization totaled $553.9k during the year ending 12/2021. 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
PROVIDE SUPPORT BY MANAGING ASSETS, GOVERNING FUNDRAISING ACTIVITIES & MAKING GRANTS TO SHSC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT WAS PROVIDED TO THE SACRED HEART CHURCH SCHOOL FOR STUDENT SCHOLARSHIPS AND OPERATIONAL SUPPORT.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Dennis Demers Executive Director | Officer | 20 | $29,400 |
John Jeffrey President | OfficerTrustee | 4 | $0 |
Joe Martin Vice President | OfficerTrustee | 4 | $0 |
Daniel Zavoral Secretary/treasurer | OfficerTrustee | 3 | $0 |
Erin O'leary Member | Trustee | 3 | $0 |
Gerard Neil Member | Trustee | 3 | $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 | $436,844 |
| Noncash contributions included in lines 1a–1f | $38,000 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $436,844 |
| Total Program Service Revenue | $0 |
| Investment income | $178,864 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $45,437 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $661,145 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $411,097 |
| 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. | $29,400 |
| Compensation of current officers, directors, key employees. | $7,350 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,900 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,950 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,944 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $53,094 |
| Fees for services: Other | $22,313 |
| Advertising and promotion | $0 |
| Office expenses | $5,165 |
| Information technology | $3,935 |
| 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 | $984 |
| All other expenses | $99 |
| Total functional expenses | $553,881 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,140,248 |
| Pledges and grants receivable | $441,048 |
| Accounts receivable, net | $3,260 |
| 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 | $20,000 |
| Investments—publicly traded securities | $8,029,468 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,034 |
| Total assets | $9,666,058 |
| Accounts payable and accrued expenses | $542 |
| 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 | $542 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $9,665,516 |
| 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 | $9,666,058 |
Grants Recieved
Over the last fiscal year, we have identified 3 grants that Sacred Heart Foundation has recieved totaling $56,495.
| Awarding Organization | Amount |
|---|---|
Mount Saint Benedict Foundation Crookston, MN PURPOSE: GRANT FOR SPECIAL EDUCATION RESOURCE TEACHER | $40,000 |
Community Foundation Of Grand Forks East Grand Forks And Region Grand Forks, ND PURPOSE: TO PROVIDE ASSISTANCE IN PROGRAM'S MISSION. | $16,428 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $67 |
Endowment Analysis
| Beg. Balance | $7,207,379 |
| Earnings | $765,878 |
| Admin Expense | $17,949 |
| Net Contributions | $287,710 |
| Grants | $235,163 |
| Ending Balance | $8,007,855 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Churches United For The Homeless Moorhead, MN | $5,941,929 | $6,033,704 |
Hillel The Foundation For Jewish Campus Life Madison, WI | $20,522,929 | $728,907 |
Camp Shalom Inc Davenport, IA | $1,575,806 | $634,233 |
Sacred Heart Foundation East Grand Forks, MN | $9,666,058 | $661,145 |
Chaplains In Schools Inc Milwaukee, WI | $130,742 | $527,877 |
St Josaphat Basilica Foundation Inc Milwaukee, WI | $586,529 | $430,521 |
Be Still Inc Plainfield, WI | $259,032 | $296,933 |
Heart Of The Father Ministries International Rush City, MN | $42,932 | $256,248 |
Young Leaders Saint Paul, MN | $369 | $245,615 |
Cross Centered Missions Pierre, SD | $63,204 | $0 |
Midwest Christian Ministries Des Moines, IA | $1,168,445 | $132,359 |
Capri Real Estate Holding Company Minneapolis, MN | $11,330,753 | $133,500 |