The Trust is organized exclusively for the benefit of St Ignatius High School in Cleveland, Ohio. Grants are to be used to provide scholarships to students of the school who demonstrate financial need.

501(c)(3) charity; gifts are tax-deductible.
87¢ of each $1 spent went to programs.
$26K paid to officers and key staff.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · Pay: Part VII

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FY2024 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
0 of 5
filings with a surplus
Average deficit $202K a year · 138% of revenue · last 5 filings
Concern: a surplus in 0 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
87%
of spending
Looks good: 87% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$26K
to officers and key staff · 7% of spending
Looks good: pay to officers and key staff is 7% of spending; 15% or less.
Pt VII · Sec A
12 mo
of spending, in cash
Plus $2.5M in investments, Pt X · Ln 11–13
Looks good: 12.2 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Liabilities
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
1
of 1 voting members
Looks good: 1 of 1 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$290K
+170% vs prior year
Spent
$352K
To programs
87%
Net assets
$4.0M
By yearFY2020–FY2024
Revenue
$290K
FY2024▲ +170%
Tap a bar for its year
Revenue by fiscal year
FY2020$157K
FY2021$174K
FY2022$5K
FY2023$107K
FY2024$290K
Expenses
$352K
FY2024▲ +52%
Tap a bar for its year
Expenses by fiscal year
FY2020$359K
FY2021$386K
FY2022$414K
FY2023$232K
FY2024$352K
Net assets
$4.0M
FY2024▲ +1%
Tap a bar for its year
Net assets by fiscal year
FY2020$4.5M
FY2021$4.6M
FY2022$3.8M
FY2023$4.0M
FY2024$4.0M

From the FY2024 Form 990 · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Feb 2004.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

87 cents of each dollar spent went to programs.

Program services 87% · $307K Management & general 13% · $45K

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

1 person listed on the 990; $26K paid to officers and key staff.

Part VII, Section A · reportable compensation
$25,815Pt VII · Sec A

Paul Katerndalh’s $26K as Trustee is at the 19th percentile of top reported officer pay among 1612 $100K–1M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 1 named individual · Part VII

NameFY2024FY2023FY2022FY2021FY2020
Paul Katerndalh$25,815$26,530$26,522$25,392$25,392

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides scholarships to financially needy students at St. Ignatius High School.

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Provided by the organization

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1 program · $307K · in their own filed words · FY2024
01

The Trust is organized exclusively for the benefit of St Ignatius High School in Cleveland, Ohio. Grants are to be used to provide scholarships to students of the school who demonstrate financial need.

$307Kprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · this organization's grantmaking
Grants paid · 5 grants · $1.5M · 2020–2024

By the numbers

The FY2024 990, line by line.

1The main four
Money inPt VIII
$290K
Ln 12
Investment incomeLn 3$290K
Money outPt IX
$352K
Ln 25
Programscol B$307K
Managementcol C$45K
Owns and owesPt X
$4.0M
net assets · Ln 32
Cash and savingsLn 1–2$358K
Total assetsLn 16$4.0M
LiabilitiesLn 26$0
PeoplePt VI, VII
1
listed · VII A
PaidVII A1
Voting boardVI 1a1
IndependentVI 1b1
2In more detail
Revenue in detailPt VIII
Investment incomeLn 3$290K
Gains on assetsLn 7$210K
Total revenueLn 12$290K
Assets in detailPt X, end of year
SavingsLn 2$358K
Cash and savings togetherLn 1–2$358K
InvestmentsLn 11–13$2.5M
Land, buildings, equipmentLn 10c$368K
Total assetsLn 16$4.0M
LiabilitiesLn 26$0
Net assetsLn 32$4.0M
OperationsPt I, VI
EmployeesI 50
VolunteersI 60
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY24End FY24
Cash and savingsLn 1–2$320K$358K
InvestmentsLn 11–13$2.5M$2.5M
Land, buildings, equipmentLn 10c$368K$368K
Total assetsLn 16$4.0M$4.0M
LiabilitiesLn 26$0$0
Net assetsLn 32$4.0M$4.0M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$307K$307K
Pay of current officers, directors and key staffLn 5$26K$26K
Accounting feesLn 11c$990$990
Investment management feesLn 11f$16K$16K
InterestLn 20$2K$2K
Other expenses (24a–d)Ln 24$75$75
Total functional expensesLn 25$352K$307K$45K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Latest Viewing $290K$352K−$62K$4.0M 990 PDF
FY2023 $107K$232K−$124K$4.0M 990 PDF
FY2022 $5K$414K−$410K$3.8M 990 PDF
FY2021 $174K$386K−$211K$4.6M 990 PDF
FY2020 $157K$359K−$202K$4.5M 990 PDF

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $289,684 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $0$0
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $107,169$289,684
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $107,169$289,684
I-13 Grants and similar amounts paidPrior year $188,300$307,076
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $26,530$25,815
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $16,834$18,954
I-18 Total expensesPrior year $231,664$351,845
I-19 Revenue less expensesPrior year −$124,495−$62,161
Part VI · Governance 1 of 1 board members independent, 4 to look at
VI-1a Voting members of the governing body1
VI-1b Independent voting members1
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $289,684 across 3 lines filed
Lines not itemized here account for $11,750 of total revenue; see the IRS return.
VIII-3 Investment incomeExcluded from tax $67,488$67,488
VIII-7 Net gain or loss on sales of assetsRelated to mission $210,446$210,446
VIII-12 Total revenueRelated to mission $210,446 · Unrelated business $0 · Excluded from tax $79,238$289,684
Part IX · Statement of functional expenses $351,845 across 6 lines filed
IX-1 Grants to domestic organizationsPrograms $307,076$307,076
IX-5 Pay of current officers, directors and key staffManagement $25,815$25,815
IX-11c Accounting feesManagement $990$990
IX-11f Investment management feesManagement $15,821$15,821
IX-20 InterestManagement $2,068$2,068
IX-24 Other expenses (24a–d)Management $75$75
IX-25 Total functional expensesPrograms $307,076 · Management $44,769 · Fundraising $0$351,845
Part X · Balance sheet $4,037,598 assets, 9 lines filed
Asset lines not itemized here account for $773,500; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $319,632$358,035
X-10c Land, buildings and equipment, netStart of year $368,000$368,000
X-11 Publicly traded securitiesStart of year $2,043,132$1,948,613
X-12 Other securitiesStart of year $490,922$589,450
X-16 Total assetsStart of year $3,995,186$4,037,598
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $3,995,186$4,037,598
X-32 Total net assets or fund balancesStart of year $3,995,186$4,037,598
X-33 Total liabilities and net assetsStart of year $3,995,186$4,037,598
Part XI · Reconciliation of net assets $4,037,598 net assets at year end
XI-1 Total revenue$289,684
XI-2 Total expenses$351,845
XI-3 Revenue less expenses−$62,161
XI-4 Net assets at start of year$3,995,186
XI-5 Net unrealized gains (losses) on investments$104,573
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$4,037,598

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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