Schola Foundation
- Assets
- $11.9m
- Revenue
- $917.3k
- Investments
- $0.0
- Employees
- 0
- Location
- Mankato, MN
- Founding
- 10/1975
- Data as of
- 06/2023
- EIN
- 51-0144999
Organization Overview
Schola Foundation is located in Mankato, MN. The organization was established in 1975. According to its NTEE Classification (B24) the organization is classified as: Primary & Elementary 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. Schola 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 06/2023, Schola Foundation generated $917.3k in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 9.1% each year. All expenses for the organization totaled $1.3m during the year ending 06/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
SEE PAGE 2, PART III, LINE 1.
Describe the Organization's Program Activity:
Part 3 - Line 4a
MANKATO AREA CATHOLIC SCHOOLS - EDUCATIONAL SUPPORT IN THE FORM OF FINANCIAL ASSISTANCE CURRENTLY TO LOYOLA CATHOLIC SCHOOL PRE K THROUGH 12TH GRADE.
PROVIDE FINANCIAL ASSISTANCE TO A LOCAL NONPROFIT.
PARK DEDICATION FEE TO THE CITY OF MANKATO.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Larry Krmpotich President | Officer | 1 | $0 |
Doug Helget Vice Preside | Officer | 1 | $0 |
Shirley Piepho Secretary | Officer | 1 | $0 |
Jon Mocol Treasurer | Officer | 1 | $0 |
Gregg Anderson Board Member | Trustee | 1 | $0 |
Sister Mary Kay Gosch Board Member | 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 | $747,810 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $747,810 |
| Total Program Service Revenue | $0 |
| Investment income | $167,389 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $2,073 |
| 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 | $917,272 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,066,556 |
| 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 | $6,225 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $200,000 |
| Advertising and promotion | $104 |
| Office expenses | $321 |
| 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 | $1,274,566 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $2,852,074 |
| 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 | $2,750,362 |
| Investments—publicly traded securities | $4,734,897 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $1,550,000 |
| Total assets | $11,887,333 |
| Accounts payable and accrued expenses | $2,057,023 |
| 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 | $1,750,000 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $3,807,023 |
| Net assets without donor restrictions | $980,136 |
| Net assets with donor restrictions | $7,100,174 |
| 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 | $11,887,333 |
Grants Awarded
Over the last fiscal year, Schola Foundation has awarded $1,064,056 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
LOYOLA CATHOLIC SCHOOLS PURPOSE: FINANCIAL ASSISTANCE | $1,052,806 |
CITY OF MANKATO PURPOSE: PARK DEDICATION | $11,250 |