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
92 cents of each dollar spent went to programs.
Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.
Something off? Claim to add context
Who runs it and what they're paid
16 people listed on the 990.
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.
Questions for Schola Foundation
Your first name shows with your question. Schola Foundation answers here, for everyone.
Mankato Area Catholic Schools
Educational support in the form of financial assistance currently to loyola catholic school pre k through 12TH grade.
Funders
Who pays for it.
From grant filings on record. Receipts are incomplete: individual donors are never listed.
Grants
By the numbers
The FY2022 990, line by line.
Download 990
| Line | FY22 | FY21 | FY20 | FY19 | FY18 |
|---|---|---|---|---|---|
| End of yearLn 1g | $4.5M | $4.8M | $4.2M | $4.0M | $3.5M |
| Given inLn 1b | $848K | $174K | $243K | $1.1M | $150K |
| SpentLn 1d–1f | $630K | $630K | $209K | $763K | $190K |
| Line | Start FY22 | End FY22 |
|---|---|---|
| Cash and savingsLn 1–2 | $1.1M | $4.8M |
| InvestmentsLn 11–13 | $4.8M | $4.3M |
| Land, buildings, equipmentLn 10c | $3.0M | $3.0M |
| Total assetsLn 16 | $9.5M | $12.5M |
| LiabilitiesLn 26 | $0 | $3.6M |
| Net assetsLn 32 | $9.5M | $9.0M |
| Line | Total | Programs | Management | Fundraising |
|---|---|---|---|---|
| Grants to domestic organizationsLn 1 | $389K | $389K | ||
| Accounting feesLn 11c | $9K | $9K | ||
| Investment management feesLn 11f | $254 | $254 | ||
| Other fees for servicesLn 11g | $14K | $14K | ||
| Advertising and promotionLn 12 | $2K | $2K | ||
| Office expensesLn 13 | $239 | $191 | $48 | |
| OccupancyLn 16 | $18K | $14K | $4K | |
| InterestLn 20 | $27K | $27K | ||
| Other expenses (24a–d)Ln 24 | $21K | $14K | $5K | $3K |
| Total functional expensesLn 25 | $481K | $444K | $32K | $5K |
Filing history
| Year | Money in | Money out | In minus out | Net assets | Download |
|---|---|---|---|---|---|
| FY2025 LatestFiled with the IRS Apr 30, 2026 | $602K | $751K | −$150K | $10.2M | 990 PDF |
| FY2024Filed with the IRS Feb 5, 2025 | $1.6M | $434K | $1.2M | $10.4M | 990 PDF |
| FY2023Filed with the IRS Jan 31, 2024 | $917K | $1.3M | −$357K | $8.1M | 990 PDF |
| FY2022 ViewingFiled with the IRS Feb 27, 2023 | $1.3M | $481K | $770K | $9.0M | 990 PDF |
| FY2021Filed with the IRS May 13, 2022 | $3.9M | $668K | $3.3M | $9.5M | 990 PDF |
| FY2020Filed with the IRS May 17, 2021 | $674K | $571K | $103K | $5.5M | 990 PDF |
Schedules filed Part IV
See the full FY2022 990 (6 parts)
Part I · Summary $1,251,467 revenue, 12 lines filed
Part VI · Governance 16 of 16 board members independent, 3 to look at
Part VIII · Statement of revenue $1,251,467 across 6 lines filed
Part IX · Statement of functional expenses $481,212 across 9 lines filed
Part X · Balance sheet $12,527,773 assets, 13 lines filed
Part XI · Reconciliation of net assets $8,952,115 net assets at year end
Form 990 e-file (XML) FY2022 from the IRS · Classification, formation year and address from the IRS Business Master File
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