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Monsignor Lafferty Tuition Foundation

Tax-deductible

Sioux City, IA501(c)(3)Since 2006 EIN 20-5437032Revenue $1.9M in FY2025

On file with the IRS1821 Jackson St, 51105-1055 · Sioux City, IATax-exempt since Mar 1946Publicly supported charity — 170(b)(1)(A)(vi)

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The solicitation, collection, administration and distribution of voluntary contributions to allocate at least 90% of annual revenue for Tuition grants to eligible students who reside in iowa to allow each student to attend any qualified school of their parents' choice.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Run by 13 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · 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
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
2 of 6
filings with a surplus
Average deficit $118K a year · 4% of revenue · last 6 filings
Concern: a surplus in 2 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Plus $1.2M in investments, Pt X · Ln 11–13
Looks good: 5.3 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
1
named funder · $6K
Fine: 1 funder names it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$4K
0.2% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
13
of 13 voting members
Looks good: 13 of 13 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$1.9M
-10% vs prior year
Spent
$2.1M
To programs
92%
Net assets
$2.2M
By yearFY2020–FY2025
Revenue
$1.9M
FY2025▼ -10%
Tap a bar for its year
Revenue by fiscal year
FY2020$3.1M
FY2021$3.0M
FY2022$3.6M
FY2023$2.5M
FY2024$2.1M
FY2025$1.9M
Expenses
$2.1M
FY2025▼ -12%
Tap a bar for its year
Expenses by fiscal year
FY2020$2.8M
FY2021$3.2M
FY2022$3.0M
FY2023$3.5M
FY2024$2.4M
FY2025$2.1M
Net assets
$2.2M
FY2025▼ -8%
Tap a bar for its year
Net assets by fiscal year
FY2020$3.2M
FY2021$3.0M
FY2022$3.6M
FY2023$2.6M
FY2024$2.4M
FY2025$2.2M

From the FY2025 Form 990 · figures checked against the IRS filing · see the original

990 PDF Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Mar 1946.

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

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $2.0M Management & general 6% · $124K Fundraising 2% · $53K

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

13 people listed on the 990.

Part VII, Section A · reportable compensation
$0Pt VII · Sec A
Matt Greteman
Board Member
$0Pt VII · Sec A
Sherry Nilles
Board Member
$0Pt VII · Sec A
Rev Merlin Schrad
Board Member
$0Pt VII · Sec A
Dan Goebel
Board Member
$0Pt VII · Sec A
Patty Lansink
Board Member
$0Pt VII · Sec A
Aaron Greteman
Board Member
$0Pt VII · Sec A
Mark Ely
Board Member
$0Pt VII · Sec A
See Monsignor Lafferty Tuition Foundation executive salaries →

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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 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Provides tuition grants to eligible Iowa students to attend schools of their parents' choice.

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Provided by the organization

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1 program · $2.0M · in their own filed words · FY2025
01

The foundation distributed 90% of it's annual revenue in the form of tuition grants to eligible students attending catholic schools in the diocese of sioux city.

$2.0Mprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · received and paid
Grants received · FY2024
American Online Giving Foundation INCFY2024$6K
Total grants receivedfrom 1 funder$6K
Grants paid · 6 grants · $16.0M · 2020–2025
Unitemized GrantFY2025$1,956,592
Unitemized GrantFY2024$2,274,013
Unitemized GrantFY2023$3,280,938
Unitemized GrantFY2022$2,850,941
Unitemized GrantFY2021$3,056,658
Unitemized GrantFY2020$2,596,480

By the numbers

The FY2025 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$1.9M
Ln 12
Gifts and grantsLn 1h$1.8M
Investment incomeLn 3$90K
Money outPt IX
$2.1M
Ln 25
Programscol B$2.0M
Managementcol C$124K
Fundraisingcol D$53K
Owns and owesPt X
$2.2M
net assets · Ln 32
Cash and savingsLn 1–2$942K
Total assetsLn 16$2.2M
LiabilitiesLn 26$4K
PeoplePt VI, VII
13
listed · VII A
PaidVII A0
Voting boardVI 1a13
IndependentVI 1b13
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$1.8M
Noncash giftsLn 1g$330K
Investment incomeLn 3$90K
Gains on assetsLn 7−$579
Total revenueLn 12$1.9M
Assets in detailPt X, end of year
SavingsLn 2$942K
Cash and savings togetherLn 1–2$942K
InvestmentsLn 11–13$1.2M
Other assetsLn 15$12K
Total assetsLn 16$2.2M
LiabilitiesLn 26$4K
Net assetsLn 32$2.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 613
Fiscal year endsHeaderDecember
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$1.1M$942K
InvestmentsLn 11–13$1.3M$1.2M
Total assetsLn 16$2.4M$2.2M
LiabilitiesLn 26$2K$4K
Net assetsLn 32$2.4M$2.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic individualsLn 2$2.0M$2.0M
Management feesLn 11a$116K$73K$43K
Accounting feesLn 11c$9K$9K
Investment management feesLn 11f$1K$1K
Advertising and promotionLn 12$10K$10K
Office expensesLn 13$11K$11K
TravelLn 17$435$435
Conferences, conventions and meetingsLn 19$700$700
Other expenses (24a–d)Ln 24$29K$29K
Total functional expensesLn 25$2.1M$2.0M$124K$53K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $1.9M$2.1M−$198K$2.2M 990 PDF
FY2024 $2.1M$2.4M−$288K$2.4M 990 PDF
FY2023 $2.5M$3.5M−$982K$2.6M 990 PDF
FY2022 $3.6M$3.0M$629K$3.6M 990 PDF
FY2021 $3.0M$3.2M−$232K$3.0M 990 PDF
FY2020 $3.1M$2.8M$365K$3.2M 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 M · Noncash O · Explanations
See the full FY2025 990 (6 parts)
Part I · Summary $1,935,870 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $2,026,188$1,846,081
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $122,823$89,789
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,149,011$1,935,870
I-13 Grants and similar amounts paidPrior year $2,274,013$1,956,592
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $162,631$177,580
I-18 Total expensesPrior year $2,436,644$2,134,172
I-19 Revenue less expensesPrior year −$287,633−$198,302
Part VI · Governance 13 of 13 board members independent, 2 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
VI-2 Family or business relationship among officers or directorsYes
VI-15a Process for setting top official's payNo
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
Part VIII · Statement of revenue $1,935,870 across 6 lines filed
VIII-1f All other contributions, gifts and grants$1,846,081
VIII-1g Noncash contributions (included above)$329,527
VIII-1h Total contributions, gifts and grants$1,846,081
VIII-3 Investment incomeExcluded from tax $90,368$90,368
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$579−$579
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $89,789$1,935,870
Part IX · Statement of functional expenses $2,134,172 across 9 lines filed
IX-2 Grants to domestic individualsPrograms $1,956,592$1,956,592
IX-11a Management feesManagement $72,524 · Fundraising $43,416$115,940
IX-11c Accounting feesManagement $8,800$8,800
IX-11f Investment management feesManagement $1,476$1,476
IX-12 Advertising and promotionFundraising $9,708$9,708
IX-13 Office expensesManagement $11,148$11,148
IX-17 TravelManagement $435$435
IX-19 Conferences, conventions and meetingsManagement $700$700
IX-24 Other expenses (24a–d)Management $29,373$29,373
IX-25 Total functional expensesPrograms $1,956,592 · Management $124,456 · Fundraising $53,124$2,134,172
Part X · Balance sheet $2,162,571 assets, 10 lines filed
X-2 Savings and temporary cash investmentsStart of year $1,088,462$942,244
X-11 Publicly traded securitiesStart of year $1,263,591$1,208,691
X-15 Other assetsStart of year $6,501$11,636
X-16 Total assetsStart of year $2,358,554$2,162,571
X-17 Accounts payable and accrued expensesStart of year $2,289$4,305
X-26 Total liabilitiesStart of year $2,289$4,305
X-27 Net assets without donor restrictionsStart of year $422,571$416,589
X-28 Net assets with donor restrictionsStart of year $1,933,694$1,741,677
X-32 Total net assets or fund balancesStart of year $2,356,265$2,158,266
X-33 Total liabilities and net assetsStart of year $2,358,554$2,162,571
Part XI · Reconciliation of net assets $2,158,266 net assets at year end
XI-1 Total revenue$1,935,870
XI-2 Total expenses$2,134,172
XI-3 Revenue less expenses−$198,302
XI-4 Net assets at start of year$2,356,265
XI-5 Net unrealized gains (losses) on investments$303
XI-9 Other changes in net assets$0
XI-10 Net assets at end of year$2,158,266

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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