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Schola Foundation

Tax-deductible

Mankato, MN501(c)(3)Since 1975EducationEIN 51-0144999

The schola foundation supports and celebrates loyola catholic school by soliciting endowed and unrestricted funds from individuals and corporations for the immediate and long term benefit of the students and staff of loyola catholic school.

501(c)(3) charity; gifts are tax-deductible.
94¢ of each $1 spent went to programs.
Run by 18 volunteers.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

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
4 of 5
filings with a surplus
Average surplus $995K a year · 59% of revenue · last 5 filings
Fine: a surplus in 4 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
94%
of spending
Looks good: 94% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
36 mo
of spending, in cash
Looks good: 35.8 months of spending in cash; 3 or more.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
3
named funders · $108K
Looks good: 3 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$787K
7% of total assets
Looks good: liabilities are 7% 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
$602K
-63% vs prior year
Spent
$751K
To programs
94%
Net assets
$10.2M
By yearFY2020–FY2024
Revenue
$602K
FY2024▼ -63%
Revenue by fiscal year
FY2020$674K
FY2021$3.9M
FY2022$1.3M
FY2023$917K
FY2024$1.6M
FY2024$602K
Expenses
$751K
FY2024▲ +73%
Expenses by fiscal year
FY2020$571K
FY2021$668K
FY2022$481K
FY2023$1.3M
FY2024$434K
FY2024$751K
Net assets
$10.2M
FY2024▼ -1%
Net assets by fiscal year
FY2020$5.5M
FY2021$9.5M
FY2022$9.0M
FY2023$8.1M
FY2024$10.4M
FY2024$10.2M

From the FY2024 Form 990 · see the original

Give Claim

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Oct 1975.

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

Where the money goes

94 cents of each dollar spent went to programs.

Program services 94% · $707K Management & general 6% · $44K

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

Who runs it and what they're paid

13 people listed on the 990.

Part VII, Section A · reportable compensation
Doug Helget
President
$0Pt VII · Sec A
Colby Staloch
Vice Preside
$0Pt VII · Sec A
$0Pt VII · Sec A
Jon Mocol
Treasurer
$0Pt VII · Sec A
Gregg Anderson
Board Member
$0Pt VII · Sec A
Reggie Reid
Board Member
$0Pt VII · Sec A
Jo Baily
Board Member
$0Pt VII · Sec A
Carol Brady
Board Member
$0Pt VII · Sec A
See Schola 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

Offers financial aid to Mankato area Catholic schools.

Provided by the organization

This section is blank until Schola Foundation claims this page.

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3 program services account for $707K of program spending, described in the organization's own filed words · FY2024.
01

Mankato Area Catholic Schools

Educational support in the form of financial assistance currently to loyola catholic school pre k through 12TH grade.

$707Kprogram expense
02

Provide financial assistance to a local nonprofit.

Pt IX · col B
03

Park dedication fee to the city of mankato.

Pt IX · col B

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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
Fidelity Investments Charitable Gift FundFY2024$50K
The Thom Family Foundation INCFY2024$40K
CommunitygivingFY2024$18K
Total grants receivedfrom 3 funders$108K
See all 3 funders →
Grants paid · 7 grants · $3.1M · 2019–2024
Loyola Catholic SchoolsMN · FY2024$490,030
Loyola Catholic SchoolsMN · FY2023$394,286
Loyola Catholic SchoolsMN · FY2022$1,052,806
City of MankatoFY2022$11,250
Loyola Catholic SchoolsMN · FY2021$389,099
Loyola Catholic SchoolsMN · FY2020$446,920
Loyola Catholic SchoolsMN · FY2019$271,300

By the numbers

The FY2024 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$602K
Ln 12
Other incomeLn 4–11$266K
Gifts and grantsLn 1h$219K
Investment incomeLn 3$117K
Money outPt IX
$751K
Ln 25
Programscol B$707K
Managementcol C$44K
Owns and owesPt X
$10.2M
net assets · Ln 32
Cash and savingsLn 1–2$2.2M
Total assetsLn 16$11.0M
LiabilitiesLn 26$787K
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$219K
Investment incomeLn 3$117K
Other incomeLn 4–11$266K
Gains on assetsLn 7−$120K
Total revenueLn 12$602K
Assets in detailPt X, end of year
SavingsLn 2$2.2M
Cash and savings togetherLn 1–2$2.2M
InvestmentsLn 11–13$5.4M
Land, buildings, equipmentLn 10c$2.8M
Total assetsLn 16$11.0M
LiabilitiesLn 26$787K
Net assetsLn 32$10.2M
OperationsPt I, VI
EmployeesI 50
VolunteersI 618
Fiscal year endsHeaderDecember
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 FY24End FY24
Cash and savingsLn 1–2$2.5M$2.2M
InvestmentsLn 11–13$5.4M$5.4M
Land, buildings, equipmentLn 10c$2.8M$2.8M
Total assetsLn 16$11.5M$11.0M
LiabilitiesLn 26$1.1M$787K
Net assetsLn 32$10.4M$10.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$490K$490K
Accounting feesLn 11c$19K$15K$4K
Investment management feesLn 11f$40K$40K
Office expensesLn 13$185$148$37
Other expenses (24a–d)Ln 24$202K$202K$372
Total functional expensesLn 25$751K$707K$44K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $1.6M$434K$1.2M$10.4M 990 PDF
FY2023 $917K$1.3M−$357K$8.1M 990 PDF
FY2022 $1.3M$481K$770K$9.0M 990 PDF
FY2021 $3.9M$668K$3.3M$9.5M 990 PDF
FY2020 $674K$571K$103K$5.5M 990 PDF

Want to add your own materials alongside these filings? Claim this org

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 FY2024 990 (4 parts)
Part VIII · Statement of revenue $601,844 across 6 lines filed
VIII-1f All other contributions, gifts and grants$218,924
VIII-1h Total contributions, gifts and grants$218,924
VIII-3 Investment incomeExcluded from tax $237,363$237,363
VIII-6 Net rental income or lossExcluded from tax $265,656$265,656
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$120,099−$120,099
VIII-12 Total revenueExcluded from tax $382,920$601,844
Part IX · Statement of functional expenses $751,369 across 5 lines filed
IX-1 Grants to domestic organizationsPrograms $490,030$490,030
IX-11c Accounting feesPrograms $15,260 · Management $3,815$19,075
IX-11f Investment management feesManagement $40,102$40,102
IX-13 Office expensesPrograms $148 · Management $37$185
IX-24 Other expenses (24a–d)Programs $201,605 · Management $372$201,977
IX-25 Total functional expensesPrograms $707,043 · Management $44,326 · Fundraising $0$751,369
Part X · Balance sheet $11,036,408 assets, 11 lines filed
X-2 Savings and temporary cash investmentsStart of year $2,516,852$2,240,604
X-3 Pledges and grants receivableStart of year $868,853$611,561
X-10c Land, buildings and equipment, netStart of year $2,750,362$2,750,362
X-11 Publicly traded securitiesStart of year $5,357,235$5,433,881
X-16 Total assetsStart of year $11,493,302$11,036,408
X-17 Accounts payable and accrued expensesStart of year $1,123,912$786,567
X-26 Total liabilitiesStart of year $1,123,912$786,567
X-27 Net assets without donor restrictionsStart of year $3,570,218$2,862,223
X-28 Net assets with donor restrictionsStart of year $6,799,172$7,387,618
X-32 Total net assets or fund balancesStart of year $10,369,390$10,249,841
X-33 Total liabilities and net assetsStart of year $11,493,302$11,036,408
Part XI · Reconciliation of net assets $10,249,841 net assets at year end
XI-1 Total revenue$601,844
XI-2 Total expenses$751,369
XI-3 Revenue less expenses−$149,525
XI-4 Net assets at start of year$10,369,390
XI-5 Net unrealized gains (losses) on investments$295,632
XI-6 Donated services and use of facilities−$265,656
XI-10 Net assets at end of year$10,249,841

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

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