Sacred Heart Foundation
- Assets
- $8.4m
- Revenue
- -$787.3k
- Investments
- $0.0
- Employees
- 2
- Location
- East Grand Forks, MN
- Founding
- 06/2015
- Data as of
- 12/2022
- EIN
- 47-2142727
Organization Overview
Sacred Heart Foundation is located in East Grand Forks, MN. The organization was established in 2015. According to its NTEE Classification (X19) the organization is classified as: Support N.E.C., under the broad grouping of Religion-Related and related organizations. As of 12/2022, Sacred Heart Foundation employed 2 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Sacred Heart Foundation is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
PROVIDE SUPPORT BY MANAGING ASSETS, GOVERNING FUNDRAISING ACTIVITIES & MAKING GRANTS TO SHSC.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT WAS PROVIDED TO THE SACRED HEART CHURCH SCHOOL FOR STUDENT SCHOLARSHIPS AND OPERATIONAL SUPPORT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Erin O'leary President | OfficerTrustee | 4 | $0 |
Daniel Zavoral Vice President | OfficerTrustee | 4 | $0 |
Joe Martin Secretary/treasurer | OfficerTrustee | 3 | $0 |
John Jeffrey Member | Trustee | 3 | $0 |
Jackie Gaddie Tietruszewski Member | Trustee | 3 | $0 |
Sarah Post Member | Trustee | 3 | $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 | $323,006 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $323,006 |
| Total Program Service Revenue | $0 |
| Investment income | $192,165 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$1,302,518 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | -$787,347 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $391,458 |
| 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. | $29,400 |
| Compensation of current officers, directors, key employees. | $7,350 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $18,900 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $3,863 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $4,130 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $49,070 |
| Fees for services: Other | $15,235 |
| Advertising and promotion | $0 |
| Office expenses | $5,433 |
| Information technology | $4,471 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,614 |
| 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 | $1,055 |
| All other expenses | $545 |
| Total functional expenses | $525,174 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $1,230,172 |
| Pledges and grants receivable | $217,396 |
| Accounts receivable, net | $2,703 |
| 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 | $6,919,663 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,223 |
| Total assets | $8,391,157 |
| Accounts payable and accrued expenses | $331 |
| 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 | $331 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $8,390,826 |
| 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 | $8,391,157 |