Aim Higher Foundation
- Assets
- $6.9m
- Revenue
- $2.9m
- Investments
- $0.0
- Employees
- 3
- Location
- St Paul, MN
- Founding
- 01/2014
- Data as of
- 06/2022
- EIN
- 46-3935682
Organization Overview
Aim Higher Foundation is located in St Paul, MN. The organization was established in 2014. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. As of 06/2022, Aim Higher Foundation employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Aim Higher 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 06/2022, Aim Higher Foundation generated $2.9m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 3 years, the organization has seen revenues fall by an average of (26.4%) each year. All expenses for the organization totaled $2.7m during the year ending 06/2022. 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
2022
Describe the Organization's Mission:
Part 3 - Line 1
THE AIM HIGHER FOUNDATION (AHF) PROVIDES SCHOLARSHIPS TO CHILDREN IN THE ARCHDIOCESE OF ST. PAUL AND MINNEAPOLIS FOR TUITION ASSISTANCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE AIM HIGHER FOUNDATION PROVIDES STUDENT-BASED TUITION ASSISTANCE SCHOLARSHIPS SO THAT MORE CHILDREN IN THE TWELVE-COUNTY METRO AREA CAN HAVE ACCESS TO THE LIFE-CHANGING BENEFITS OF A CATHOLIC EDUCATION. THE AIM HIGHER FOUNDATION HAS AWARDED CLOSE TO $13 MILLION IN SCHOLARSHIPS SINCE ITS INCEPTION. WE BELIEVE THAT CATHOLIC SCHOOLS PROVIDE AN EDUCATION THAT IS SECOND TO NONE AND PROVIDES CHILDREN WITH THE TOOLS TO AIM HIGHER.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Donal Mulligan Board Chair | OfficerTrustee | 5 | $0 |
Aida Schaefer Treasurer | OfficerTrustee | 3 | $0 |
Phil Paquette Board Member | Trustee | 1 | $0 |
Paul Herro Board Member | Trustee | 1 | $0 |
Barry Lieske Board Member | Trustee | 1 | $0 |
Sarah Schumacher Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $430,936 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $2,406,879 |
| Noncash contributions included in lines 1a–1f | $17,874 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $2,837,815 |
| Total Program Service Revenue | $0 |
| Investment income | $31,837 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $52,212 |
| Net Income from Fundraising Events | -$9,317 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $2,912,547 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,121,360 |
| 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. | $196,196 |
| Compensation of current officers, directors, key employees. | $39,239 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $216,531 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $747 |
| Payroll taxes | $32,692 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $37,036 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $9,106 |
| Fees for services: Other | $40,480 |
| Advertising and promotion | $16,507 |
| Office expenses | $17,266 |
| Information technology | $6,923 |
| Royalties | $0 |
| Occupancy | $31,758 |
| Travel | $398 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,462 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $1,654 |
| Insurance | $2,425 |
| All other expenses | $0 |
| Total functional expenses | $2,745,766 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $960,554 |
| Savings and temporary cash investments | $99,566 |
| Pledges and grants receivable | $3,228,943 |
| 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 | $11,465 |
| Net Land, buildings, and equipment | $4,092 |
| Investments—publicly traded securities | $2,602,893 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $6,907,513 |
| Accounts payable and accrued expenses | $13,013 |
| Grants payable | $2,438,473 |
| 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 | $923 |
| Total liabilities | $2,452,409 |
| Net assets without donor restrictions | $576,176 |
| Net assets with donor restrictions | $3,878,928 |
| 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 | $6,907,513 |