Monsignor Lafferty Tuition Foundation
- Assets
- $3.0m
- Revenue
- $3.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Sioux City, IA
- Founding
- 03/1946
- Data as of
- 12/2021
- EIN
- 20-5437032
Organization Overview
Monsignor Lafferty Tuition Foundation is located in Sioux City, IA. The organization was established in 1946. According to its NTEE Classification (T20) the organization is classified as: Private Grantmaking Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Monsignor Lafferty Tuition Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 12/2021, Monsignor Lafferty Tuition Foundation generated $3.0m in total revenue. The organization has seen a slow decline revenue. Over the past 7 years, revenues have fallen by an average of (0.4%) each year. All expenses for the organization totaled $3.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
THE SOLICITATION, COLLECTION, ADMINISTRATION AND DISTRIBUTION OF VOLUNTARY CONTRIBUTIONS TO ALLOCATE AT LEAST 90% OF ANNUAL REVENUE FOR TUITION GRANTS TO ELIGIBLE STUDENTS WHO RESIDE IN IOWA TO ALLOW EACH STUDENT TO ATTEND ANY QUALIFIED SCHOOL OF THEIR PARENTS' CHOICE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION DISTRIBUTED 90% OF IT'S ANNUAL REVENUE IN THE FORM OF TUITION GRANTS TO ELIGIBLE STUDENTS ATTENDING CATHOLIC SCHOOLS IN THE DIOCESE OF SIOUX CITY.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Most Rev R Walker Nickless Chairperson | OfficerTrustee | 1 | $0 |
Matt Greteman Board Member | Trustee | 1 | $0 |
Sherry Nilles Board Member | Trustee | 1 | $0 |
Rev Merlin Schrad Board Member | Trustee | 1 | $0 |
Dan Goebel Board Member | Trustee | 1 | $0 |
Aaron Greteman Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,955,226 |
| Noncash contributions included in lines 1a–1f | $359,767 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,955,226 |
| Total Program Service Revenue | $0 |
| Investment income | $19,265 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,683 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,976,174 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $3,056,658 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $91,896 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $6,350 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,663 |
| Advertising and promotion | $6,114 |
| Office expenses | $9,169 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $245 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,207,990 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $11,425 |
| Savings and temporary cash investments | $2,978,012 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $0 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $8,579 |
| Total assets | $2,998,016 |
| Accounts payable and accrued expenses | $505 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $0 |
| Total liabilities | $505 |
| Net assets without donor restrictions | $2,997,511 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $2,998,016 |
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|---|---|---|
Charles K Blandin Foundation Grand Rapids, MN | $0 | $24,073,238 |
Ed Uihlein Family Foundation Lake Forest, IL | $7,123,989 | $4,757,675 |
Joseph L & Sarah S Marcum Foundation Chicago, IL | $0 | $6,419,437 |
Kraft Heinz Company Foundation Chicago, IL | $398,764 | $8,002,636 |
State Farm Companies Foundation Bloomington, IL | $9,666,483 | $1,134 |
Bayer Fund St Louis, MO | $65,640,119 | $9,167,249 |
Marie C & Joseph C Wilson Foundation Chicago, IL | $0 | $53,412 |
Alphawood Foundation Chicago, IL | $96,386,448 | $15,256,055 |
Steans Family Foundation Chicago, IL | $0 | $20,140,801 |
Reiman Foundation Inc Pewaukee, WI | $64,480,239 | $12,529,672 |
Roger And Susan Stone Family Foundation Northbrook, IL | $23,476,805 | $8,385,528 |
Galashiels Fund Ltd Northbrook, IL | $154,593,436 | $48,314,988 |