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Subiaco Foundation FY2022 filing

Tax-deductible

Subiaco, AR501(c)(3)Since 2009EducationEIN 26-4589008Revenue −$273K in FY2022

On file with the IRSsubi.org405 N Subiaco Ave, 72865-9220 · Subiaco, ARTax-exempt since Jun 2009Supporting organization — 509(a)(3)

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Collection and distribution of funds used exclusively for the religious, educational, and charitable ministries of the Subiaco abbey and Subiaco academy (supported organizations), consistent with its status and with the mission of these entities.

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

Before you give

FY2022 · 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
1 of 5
filings with a surplus
Average deficit $567K a year · 38% of revenue · last 5 filings
Concern: a surplus in 1 of the last 5 filings.
Pt I · Ln 19 · 5 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
7 mo
of spending, in cash
Looks good: 6.6 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
2
named funders · $27K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$1.3M
17% of total assets
Looks good: liabilities are 17% of assets; 50% or less.
Pt X · Ln 26
Independent board members
14
of 14 voting members
Looks good: 14 of 14 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
−$273K
-114% vs prior year
Spent
$2.1M
To programs
92%
Net assets
$6.6M
By yearFY2021–FY2025
Revenue
−$273K
FY2022▼ -114%
Tap a bar for its year
Revenue by fiscal year
FY2021$2.0M
FY2022−$273K
FY2023$1.3M
FY2024$2.2M
FY2025$2.2M
Expenses
$2.1M
FY2022▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2021$2.1M
FY2022$2.1M
FY2023$1.9M
FY2024$1.5M
FY2025$2.8M
Net assets
$6.6M
FY2022▼ -19%
Tap a bar for its year
Net assets by fiscal year
FY2021$8.2M
FY2022$6.6M
FY2023$6.1M
FY2024$7.1M
FY2025$6.9M

From the FY2022 Form 990 (year ending June 2022) · figures checked against the IRS filing · see the original

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You’re viewing the FY2022 filing — not the latest on file. See the latest (FY2025) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Jun 2009.

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% · $1.9M Management & general 0% · $2K Fundraising 8% · $162K

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

14 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2021); the FY2022 filing did not itemize Part VII
Steve Schmitz
President
$0Pt VII · Sec A
J Clay Gilliland
Vice-President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
Dawn Epping
Director
$0Pt VII · Sec A
Leo Anhalt
Director
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Subiaco 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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Collects and distributes funds for religious, educational, and charitable ministries.

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Provided by the organization

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2 programs · $1.9M · in their own filed words · FY2021
01

To provide funds to subiaco academy for classroom remodeling, tuition assistance, marketing, hvac, roof replacement, pool, performing arts center, mattresses for camp and technology improvements

$1.3Mprogram expense
02

To provide funds for the religious ministry of subiaco abbey including monk care and upkeep of property, plant and equipment

$609Kprogram expense

Funders

Who pays for it.

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

Grants

Schedule I · funders on record
Grants received · FY2024
Mercy Health Fort Smith CommunitiesFY2024$20K
American Online Giving Foundation INCFY2024$7K
Total grants receivedfrom 2 funders$27K

By the numbers

The FY2022 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
−$273K
Ln 12
Gifts and grantsLn 1h$584K
Investment incomeLn 3$108K
Money outPt IX
$2.1M
Ln 25
Programscol B$1.9M
Managementcol C$2K
Fundraisingcol D$162K
Owns and owesPt X
$6.6M
net assets · Ln 32
Cash and savingsLn 1–2$1.1M
Total assetsLn 16$7.9M
LiabilitiesLn 26$1.3M
PeoplePt VI, VII
14
listed · VII A
PaidVII A0
Voting boardVI 1a14
IndependentVI 1b14
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$584K
Noncash giftsLn 1g$67K
Investment incomeLn 3$108K
Gains on assetsLn 7−$964K
Total revenueLn 12−$273K
Assets in detailPt X, end of year
CashLn 1$12K
SavingsLn 2$1.1M
Cash and savings togetherLn 1–2$1.1M
InvestmentsLn 11–13$5.2M
Total assetsLn 16$7.9M
LiabilitiesLn 26$1.3M
Net assetsLn 32$6.6M
OperationsPt I, VI
EmployeesI 50
VolunteersI 616
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY22End FY22
Cash and savingsLn 1–2$1.4M$1.1M
InvestmentsLn 11–13$5.7M$5.2M
Total assetsLn 16$9.5M$7.9M
LiabilitiesLn 26$1.3M$1.3M
Net assetsLn 32$8.2M$6.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Professional fundraising feesLn 11e$135K$135K
Investment management feesLn 11f$2K$2K
TravelLn 17$2K$2K
InterestLn 20$24K$24K
Payments to affiliatesLn 21$1.9M$1.9M
Other expenses (24a–d)Ln 24$1K$1K
Total functional expensesLn 25$2.1M$1.9M$2K$162K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $2.2M$2.8M−$609K$6.9M 990 PDF
FY2024 $2.2M$1.5M$742K$7.1M 990 PDF
FY2023 $1.3M$1.9M−$565K$6.1M 990 PDF
FY2022 Viewing −$273K$2.1M−$2.4M$6.6M 990 PDF
FY2021 $2.0M$2.1M−$41K$8.2M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2022 990 (6 parts)
Part I · Summary −$273,054 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $831,790$583,830
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $1,178,435−$856,884
I-11 Other revenuePrior year $0$0
I-12 Total revenuePrior year $2,010,225−$273,054
I-13 Grants and similar amounts paidPrior year $0$0
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $0$0
I-16a Professional fundraising feesPrior year $135,000$135,000
I-17 Other expensesPrior year $1,916,185$1,952,626
I-18 Total expensesPrior year $2,051,185$2,087,626
I-19 Revenue less expensesPrior year −$40,960−$2,360,680
Part VI · Governance 14 of 14 board members independent, 3 to look at
VI-1a Voting members of the governing body14
VI-1b Independent voting members14
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
VI-12a Written conflict of interest policyYes
Part VIII · Statement of revenue −$273,054 across 7 lines filed
VIII-1d Related organizations$100,000
VIII-1f All other contributions, gifts and grants$483,830
VIII-1g Noncash contributions (included above)$67,483
VIII-1h Total contributions, gifts and grants$583,830
VIII-3 Investment incomeExcluded from tax $107,547$107,547
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$964,431−$964,431
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax −$856,884−$273,054
Part IX · Statement of functional expenses $2,087,626 across 6 lines filed
IX-11e Professional fundraising feesFundraising $135,000$135,000
IX-11f Investment management feesManagement $2,063$2,063
IX-17 TravelFundraising $1,594$1,594
IX-20 InterestFundraising $23,880$23,880
IX-21 Payments to affiliatesPrograms $1,924,051$1,924,051
IX-24 Other expenses (24a–d)Fundraising $1,038$1,038
IX-25 Total functional expensesPrograms $1,924,051 · Management $2,063 · Fundraising $161,512$2,087,626
Part X · Balance sheet $7,945,970 assets, 12 lines filed
X-1 Cash, non-interest-bearingStart of year $113,488$11,684
X-2 Savings and temporary cash investmentsStart of year $1,270,453$1,136,403
X-3 Pledges and grants receivableStart of year $1,949,995$1,412,751
X-4 Accounts receivableStart of year $522,422$229,801
X-12 Other securitiesStart of year $5,657,225$5,155,331
X-16 Total assetsStart of year $9,513,583$7,945,970
X-17 Accounts payable and accrued expensesStart of year $48,892$80,401
X-26 Total liabilitiesStart of year $1,298,892$1,330,401
X-27 Net assets without donor restrictionsStart of year $1,156,970$1,252,018
X-28 Net assets with donor restrictionsStart of year $7,057,721$5,363,551
X-32 Total net assets or fund balancesStart of year $8,214,691$6,615,569
X-33 Total liabilities and net assetsStart of year $9,513,583$7,945,970
Part XI · Reconciliation of net assets $6,615,569 net assets at year end
XI-1 Total revenue−$273,054
XI-2 Total expenses$2,087,626
XI-3 Revenue less expenses−$2,360,680
XI-4 Net assets at start of year$8,214,691
XI-8 Prior period adjustments$15,876
XI-9 Other changes in net assets$745,682
XI-10 Net assets at end of year$6,615,569

Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File

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