Laboure Society
- Assets
- $5.9m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 16
- Location
- Eagan, MN
- Founding
- 09/2002
- Data as of
- 12/2023
- EIN
- 41-2001751
Organization Overview
Laboure Society is located in Eagan, MN. The organization was established in 2002. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. As of 12/2023, Laboure Society employed 16 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Laboure Society 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 12/2023, Laboure Society generated $2.9m in total revenue. The organization has seen a slow decline revenue. Over the past 9 years, revenues have fallen by an average of (0.8%) each year. All expenses for the organization totaled $2.6m during the year ending 12/2023. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE FINANCIAL ASSISTANCE TO INDIVIDUALS WHO MUST ELIMINATE PERSONAL DEBT IN ORDER TO PURSUE THEIR VOCATION TO PRIESTHOOD OR RELIGIOUS LIFE IN THE CATHOLIC CHURCH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE LABOURE SOCIETY WAS ESTABLISHED TO PROVIDE SPIRITUAL SUPPORT AND MATERIAL ASSISTANCE TO RESOLVE STUDENT LOANS FOR THOSE ENTERING FORMATION FOR PRIESTHOOD OR RELIGIOUS LIFE.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sr Josephine Garrett Csfn Secretary | OfficerTrustee | 1 | $0 |
Sherry Nilles Director | Trustee | 1 | $0 |
Liam Rogers Director | Trustee | 1 | $0 |
Julia Gray Director | Trustee | 1 | $0 |
Thomas Gilbert Treasurer | OfficerTrustee | 1 | $0 |
Scott Hussey President | OfficerTrustee | 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 | $2,711,264 |
| Noncash contributions included in lines 1a–1f | $10,012 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,711,264 |
| Total Program Service Revenue | $0 |
| Investment income | $179,989 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $0 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,902,533 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $0 |
| Grants and other assistance to domestic individuals. | $873,452 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $191,783 |
| Compensation of current officers, directors, key employees. | $9,221 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $608,559 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $127,239 |
| Payroll taxes | $67,535 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $892 |
| Fees for services: Accounting | $25,365 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $161,448 |
| Advertising and promotion | $49,944 |
| Office expenses | $124,113 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $47,569 |
| Travel | $30,900 |
| 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 | $12,098 |
| Insurance | $25,181 |
| All other expenses | $0 |
| Total functional expenses | $2,554,087 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $747,424 |
| Savings and temporary cash investments | $3,849,949 |
| 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 | $12,178 |
| Net Land, buildings, and equipment | $17,234 |
| Investments—publicly traded securities | $1,181,364 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $88,329 |
| Total assets | $5,896,478 |
| Accounts payable and accrued expenses | $33,613 |
| 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 | $3,480,098 |
| Total liabilities | $3,513,711 |
| Net assets without donor restrictions | $2,382,767 |
| 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 | $5,896,478 |