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Schola Foundation FY2021 filing

Tax-deductible

Mankato, MN501(c)(3)Since 1975EducationEIN 51-0144999Revenue $3.9M in FY2021

On file with the IRSscholafoundation.org145 Good Counsel Dr, 56001-3146 · Mankato, MNTax-exempt since Oct 1975Publicly supported charity — 170(b)(1)(A)(vi)

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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.
67¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

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FY2021 · 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
4 of 6
filings with a surplus
Average surplus $804K a year · 54% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
67%
of spending
Fine: 67% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
Cash reserves
18 mo
of spending, in cash
Looks good: 18.0 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
$0
0% of total assets
Looks good: liabilities are 0% of assets; 50% or less.
Pt X · Ln 26
Independent board members
15
of 15 voting members
Looks good: 15 of 15 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$3.9M
+485% vs prior year
Spent
$668K
To programs
67%
Net assets
$9.5M
By yearFY2020–FY2025
Revenue
$3.9M
FY2021▲ +485%
Tap a bar for its year
Revenue by fiscal year
FY2020$674K
FY2021$3.9M
FY2022$1.3M
FY2023$917K
FY2024$1.6M
FY2025$602K
Expenses
$668K
FY2021▲ +17%
Tap a bar for its year
Expenses by fiscal year
FY2020$571K
FY2021$668K
FY2022$481K
FY2023$1.3M
FY2024$434K
FY2025$751K
Net assets
$9.5M
FY2021▲ +73%
Tap a bar for its year
Net assets by fiscal year
FY2020$5.5M
FY2021$9.5M
FY2022$9.0M
FY2023$8.1M
FY2024$10.4M
FY2025$10.2M

From the FY2021 Form 990 (year ending June 2021) · see the original

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You’re viewing the FY2021 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 Oct 1975.

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

Where the money goes

67 cents of each dollar spent went to programs.

Program services 67% · $447K Management & general 33% · $221K

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

17 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2020); the FY2021 filing did not itemize Part VII
$0Pt VII · Sec A
Amy Orcutt
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
$0Pt VII · Sec A
Steve Fink
Board Member
$0Pt VII · Sec A
Nathan Gruenzer
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.

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Provided by the organization

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1 program · $447K · in their own filed words · FY2020
01

Mankato Area Catholic Schools

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

$447Kprogram 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
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 FY2021 990, line by line.

Download 990
from philanthropy.org
1The main four
Money inPt VIII
$3.9M
Ln 12
Gifts and grantsLn 1h$3.6M
Investment incomeLn 3$370K
Money outPt IX
$668K
Ln 25
Programscol B$447K
Managementcol C$221K
Owns and owesPt X
$9.5M
net assets · Ln 32
Cash and savingsLn 1–2$1.0M
Total assetsLn 16$9.5M
LiabilitiesLn 26$0
PeoplePt VI, VII
17
listed · VII A
PaidVII A0
Voting boardVI 1a15
IndependentVI 1b15
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$3.6M
Noncash giftsLn 1g$3.0M
Investment incomeLn 3$370K
Gains on assetsLn 7$195K
Total revenueLn 12$3.9M
Assets in detailPt X, end of year
SavingsLn 2$1.0M
Cash and savings togetherLn 1–2$1.0M
InvestmentsLn 11–13$4.8M
Land, buildings, equipmentLn 10c$3.1M
Other assetsLn 15$144K
Total assetsLn 16$9.5M
LiabilitiesLn 26$0
Net assetsLn 32$9.5M
OperationsPt I, VI
EmployeesI 50
VolunteersI 618
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 FY21End FY21
Cash and savingsLn 1–2$261K$1.0M
InvestmentsLn 11–13$4.4M$4.8M
Land, buildings, equipmentLn 10c$3.1M
Total assetsLn 16$5.5M$9.5M
LiabilitiesLn 26$0$0
Net assetsLn 32$5.5M$9.5M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$447K$447K
Accounting feesLn 11c$5K$5K
Other fees for servicesLn 11g$189K$189K
Advertising and promotionLn 12$358$358
Office expensesLn 13$79$79
OccupancyLn 16$6K$6K
InsuranceLn 23$4K$4K
Other expenses (24a–d)Ln 24$16K$16K
Total functional expensesLn 25$668K$447K$221K$0

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $602K$751K−$150K$10.2M 990 PDF
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 Viewing $3.9M$668K$3.3M$9.5M 990 PDF
FY2020 $674K$571K$103K$5.5M 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 FY2021 990 (6 parts)
Part I · Summary $3,943,065 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $242,969$3,572,836
I-9 Program service revenue$0
I-10 Investment incomePrior year $435,792$370,229
I-11 Other revenuePrior year −$5,068$0
I-12 Total revenuePrior year $673,693$3,943,065
I-13 Grants and similar amounts paidPrior year $271,300$446,920
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $299,870$221,289
I-18 Total expensesPrior year $571,170$668,209
I-19 Revenue less expensesPrior year $102,523$3,274,856
Part VI · Governance 15 of 15 board members independent, 3 to look at
VI-1a Voting members of the governing body15
VI-1b Independent voting members15
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 $3,943,065 across 6 lines filed
VIII-1f All other contributions, gifts and grants$3,572,836
VIII-1g Noncash contributions (included above)$3,021,000
VIII-1h Total contributions, gifts and grants$3,572,836
VIII-3 Investment incomeExcluded from tax $175,693$175,693
VIII-7 Net gain or loss on sales of assetsRelated to mission $194,536$194,536
VIII-12 Total revenueRelated to mission $194,536 · Excluded from tax $175,693$3,943,065
Part IX · Statement of functional expenses $668,209 across 8 lines filed
IX-1 Grants to domestic organizationsPrograms $446,920$446,920
IX-11c Accounting feesManagement $4,560$4,560
IX-11g Other fees for servicesManagement $189,480$189,480
IX-12 Advertising and promotionManagement $358$358
IX-13 Office expensesManagement $79$79
IX-16 OccupancyManagement $6,059$6,059
IX-23 InsuranceManagement $4,470$4,470
IX-24 Other expenses (24a–d)Management $16,283$16,283
IX-25 Total functional expensesPrograms $446,920 · Management $221,289 · Fundraising $0$668,209
Part X · Balance sheet $9,492,981 assets, 11 lines filed
Asset lines not itemized here account for $275,000; see the IRS return.
X-2 Savings and temporary cash investmentsStart of year $261,485$1,001,867
X-3 Pledges and grants receivable$122,160
X-10c Land, buildings and equipment, net$3,121,000
X-11 Publicly traded securitiesStart of year $4,371,154$4,829,213
X-15 Other assetsStart of year $143,741$143,741
X-16 Total assetsStart of year $5,486,695$9,492,981
X-26 Total liabilitiesStart of year $0$0
X-27 Net assets without donor restrictionsStart of year $1,289,467$1,249,688
X-28 Net assets with donor restrictionsStart of year $4,197,228$8,243,293
X-32 Total net assets or fund balancesStart of year $5,486,695$9,492,981
X-33 Total liabilities and net assetsStart of year $5,486,695$9,492,981
Part XI · Reconciliation of net assets $9,492,981 net assets at year end
XI-1 Total revenue$3,943,065
XI-2 Total expenses$668,209
XI-3 Revenue less expenses$3,274,856
XI-4 Net assets at start of year$5,486,695
XI-5 Net unrealized gains (losses) on investments$732,159
XI-8 Prior period adjustments−$729
XI-10 Net assets at end of year$9,492,981

Form 990 e-file (XML) FY2021 from the IRS · Classification, formation year and address from the IRS Business Master File

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