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Schola Foundation FY2024 filing

Tax-deductible

Mankato, MN501(c)(3)Since 1975Education EIN 51-0144999Revenue $1.6M in FY2024

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.
99¢ 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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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
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
99%
of spending
Looks good: 99% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
70 mo
of spending, in cash
Plus $5.4M in investments, Pt X · Ln 11–13
Looks good: 69.6 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
$1.1M
10% of total assets
Looks good: liabilities are 10% 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
$1.6M
+76% vs prior year
Spent
$434K
To programs
99%
Net assets
$10.4M
By yearFY2020–FY2025
Revenue
$1.6M
FY2024▲ +76%
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
$434K
FY2024▼ -66%
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
$10.4M
FY2024▲ +28%
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 FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

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You’re viewing the FY2024 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

99 cents of each dollar spent went to programs.

Program services 99% · $427K Management & general 1% · $6K Fundraising 0% · $496

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 · most recent filed roster (FY2023); the FY2024 filing did not itemize Part VII
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.

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Provided by the organization

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3 programs · $427K · in their own filed words · FY2023
01

Mankato Area Catholic Schools

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

$427Kprogram 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

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
$1.6M
Ln 12
Gifts and grantsLn 1h$1.1M
Investment incomeLn 3$495K
Other incomeLn 4–11$18K
Money outPt IX
$434K
Ln 25
Programscol B$427K
Managementcol C$6K
Fundraisingcol D$496
Owns and owesPt X
$10.4M
net assets · Ln 32
Cash and savingsLn 1–2$2.5M
Total assetsLn 16$11.5M
LiabilitiesLn 26$1.1M
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$1.1M
Investment incomeLn 3$495K
Other incomeLn 4–11$18K
Gains on assetsLn 7$193K
Total revenueLn 12$1.6M
Assets in detailPt X, end of year
SavingsLn 2$2.5M
Cash and savings togetherLn 1–2$2.5M
InvestmentsLn 11–13$5.4M
Land, buildings, equipmentLn 10c$2.8M
Total assetsLn 16$11.5M
LiabilitiesLn 26$1.1M
Net assetsLn 32$10.4M
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 FY24End FY24
Cash and savingsLn 1–2$2.9M$2.5M
InvestmentsLn 11–13$4.7M$5.4M
Land, buildings, equipmentLn 10c$2.8M$2.8M
Total assetsLn 16$11.9M$11.5M
LiabilitiesLn 26$3.8M$1.1M
Net assetsLn 32$8.1M$10.4M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$394K$394K
Accounting feesLn 11c$20K$16K$4K
Advertising and promotionLn 12$496$496
Office expensesLn 13$886$709$177
OccupancyLn 16$16K$16K
InsuranceLn 23$1K$1K
Other expenses (24a–d)Ln 24$368$368
Total functional expensesLn 25$434K$427K$6K$496

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest $602K$751K−$150K$10.2M 990 PDF
FY2024 Viewing $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

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Schedules filed Part IV

III · Programs R · Related orgs G · Fundraising L · Interested persons I · Grants A · Public support O · Explanations
See the full FY2024 990 (6 parts)
Part I · Summary $1,616,202 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $747,810$1,103,098
I-9 Program service revenue$0
I-10 Investment incomePrior year $167,389$494,818
I-11 Other revenuePrior year $2,073$18,286
I-12 Total revenuePrior year $917,272$1,616,202
I-13 Grants and similar amounts paidPrior year $1,066,556$394,286
I-14 Benefits paid to members$0
I-15 Salaries and benefits$0
I-16a Professional fundraising fees$0
I-17 Other expensesPrior year $208,010$39,463
I-18 Total expensesPrior year $1,274,566$433,749
I-19 Revenue less expensesPrior year −$357,294$1,182,453
Part VI · Governance 13 of 13 board members independent, 3 to look at
VI-1a Voting members of the governing body13
VI-1b Independent voting members13
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 $1,616,202 across 6 lines filed
VIII-1f All other contributions, gifts and grants$1,103,098
VIII-1h Total contributions, gifts and grants$1,103,098
VIII-3 Investment incomeExcluded from tax $301,354$301,354
VIII-6 Net rental income or lossUnrelated business −$5,601 · Excluded from tax $23,887$18,286
VIII-7 Net gain or loss on sales of assetsRelated to mission $193,464$193,464
VIII-12 Total revenueRelated to mission $193,464 · Unrelated business −$5,601 · Excluded from tax $325,241$1,616,202
Part IX · Statement of functional expenses $433,749 across 7 lines filed
IX-1 Grants to domestic organizationsPrograms $394,286$394,286
IX-11c Accounting feesPrograms $16,068 · Management $4,017$20,085
IX-12 Advertising and promotionFundraising $496$496
IX-13 Office expensesPrograms $709 · Management $177$886
IX-16 OccupancyPrograms $16,432$16,432
IX-23 InsuranceManagement $1,196$1,196
IX-24 Other expenses (24a–d)Management $368$368
IX-25 Total functional expensesPrograms $427,495 · Management $5,758 · Fundraising $496$433,749
Part X · Balance sheet $11,493,302 assets, 11 lines filed
X-2 Savings and temporary cash investmentsStart of year $2,852,074$2,516,852
X-3 Pledges and grants receivable$868,853
X-10c Land, buildings and equipment, netStart of year $2,750,362$2,750,362
X-11 Publicly traded securitiesStart of year $4,734,897$5,357,235
X-16 Total assetsStart of year $11,887,333$11,493,302
X-17 Accounts payable and accrued expensesStart of year $2,057,023$1,123,912
X-26 Total liabilitiesStart of year $3,807,023$1,123,912
X-27 Net assets without donor restrictionsStart of year $980,136$3,570,218
X-28 Net assets with donor restrictionsStart of year $7,100,174$6,799,172
X-32 Total net assets or fund balancesStart of year $8,080,310$10,369,390
X-33 Total liabilities and net assetsStart of year $11,887,333$11,493,302
Part XI · Reconciliation of net assets $10,369,390 net assets at year end
XI-1 Total revenue$1,616,202
XI-2 Total expenses$433,749
XI-3 Revenue less expenses$1,182,453
XI-4 Net assets at start of year$8,080,310
XI-5 Net unrealized gains (losses) on investments$399,283
XI-6 Donated services and use of facilities−$42,656
XI-8 Prior period adjustments$750,000
XI-10 Net assets at end of year$10,369,390

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

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