Catholic Education Scholarship Tr
- Assets
- $69.8m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 0
- Location
- Chicago, IL
- Founding
- Data as of
- 06/2021
- EIN
- 36-7632823
Organization Overview
Catholic Education Scholarship Tr is located in Chicago, IL. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Catholic Education Scholarship Tr 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 06/2021, Catholic Education Scholarship Tr generated $6.0m in total revenue. This represents relatively stable growth, over the past 2 years the organization has increased revenue by an average of 7.4% each year. All expenses for the organization totaled $2.4m during the year ending 06/2021. While expenses have increased by 13.6% per year over the past 2 years. They've been increasing with an increasing level of total revenue. 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
PROVIDE SCHOLARSHIPS TO CHILDREN IN CATHOLIC SCHOOLS LISTED IN THE OFFICIAL CATHOLIC DIRECTORY FOR THE ARCHDIOCESE OF CHICAGO.
Describe the Organization's Program Activity:
Part 3 - Line 4a
CEST WAS ESTABLISHED IN 2013, IN CONJUNCTION WITH THE ARCHDIOCESE OF CHICAGO'S TO TEACH WHO CHRIST IS CAPITAL CAMPAIGN. PHOENIX SCHOLARSHIPS ARE AWARDED BASED ON THE RECOMMENDATIONS OF THE SCHOLARSHIP DELEGATION COMMITTEE TO FAMILIES WHO DEMONSTRATE FINANCIAL NEED AMONG OTHER CRITERIA DEFINED BY THE BOARD. THE SCHOLARSHIPS ARE PROVIDED TO ELIGIBLE STUDENTS IN GRADES K-12 IN CATHOLIC SCHOOLS THROUGHOUT COOK COUNTY AND LAKE COUNTY. QUALIFIED STUDENTS CAN APPLY FOR THESE RENEWABLE AWARDS THAT FOLLOW THE CHILD SHOULD THEY TRANSFER TO ANOTHER CATHOLIC SCHOOL WITHIN THE ARCHDIOCESE.PHOENIX SCHOLARSHIPS INCLUDE THOSE FUNDED AND DESIGNATED BY SIX SPECIFIC ENDOWMENTS. EACH OF THESE SIX ENDOWMENTS, ESTABLISHED IN PARTNERSHIP WITH CATHOLIC EDUCATION SCHOLARSHIP TRUST DONORS, FUNDS PHOENIX SCHOLARSHIPS WITHIN CRITERIA DICTATED BY DONOR REQUIREMENTS. PHOENIX SCHOLARSHIPS ARE AWARDED EACH YEAR TO ELIGIBLE STUDENTS MEETING THE SPECIFIC CRITERIA OF EACH ENDOWMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Most Reverend Cardinal Cupich Board Member | Trustee | 1 | $0 |
Mary Patricia Burns Board Member | Trustee | 1 | $0 |
Mr Kevin Speicher Board Member | Trustee | 1 | $0 |
Bishop Robert Casey Board Member | Trustee | 1 | $0 |
Edward L Hocter Board Member | Trustee | 1 | $0 |
Greg Richmond Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,231,475 |
| Investment income | $644,416 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $4,147,215 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,023,106 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic individuals. | $0 |
| 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 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 | $207,265 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $16,885 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $325,936 |
| Fees for services: Other | $0 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $18,403 |
| All other expenses | $0 |
| Total functional expenses | $2,435,034 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $715,543 |
| Pledges and grants receivable | $1,307,957 |
| 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 |
| Investments—publicly traded securities | $34,898,074 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $32,846,528 |
| Total assets | $69,768,102 |
| Accounts payable and accrued expenses | $160,672 |
| 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 | $160,672 |
| Net assets without donor restrictions | $69,607,430 |
| 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 |
| Total liabilities and net assets/fund balances | $69,607,430 |