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← CATHOLIC EDUCATION SCHOLARSHIP TR

Form 990 for tax year 2023

Filed by CATHOLIC EDUCATION SCHOLARSHIP TR.

Totals

Total revenue
$2,255,452
Total expenses
$2,693,207
Contributions and grants received
$254,805
Grants paid
$2,100,000
Program service revenue
$0
Investment income
$2,000,647
Other revenue
$0
Total assets, end of year
$67,713,822
Total liabilities, end of year
$398,426
Net assets or fund balances, end of year
$67,315,396
Program services expenses (Part IX)
$2,100,000
Management and general expenses
$593,207
Fundraising expenses
$0
Program service expenses (Part III)
$2,100,000

Program services were 78.0% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.

Line items

Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.

Revenue

Part VIII, the statement of revenue.

  • 1f · All other contributions, gifts and grants

    $254,805

  • 3 · Investment income

    total $639,824 · excluded $639,824

  • 7a · Gross sales of assets other than inventory

    securities $1,878,937

  • 7b · Less cost or other basis and sales expenses

    securities $518,114

  • 7c · Gain or loss

    securities $1,360,823

  • 7d · Net gain or loss

    total $1,360,823 · excluded $1,360,823

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $2,100,000 · program services $2,100,000

  • 11a · Fees: management

    total $249,679 · management and general $249,679

  • 11c · Fees: accounting

    total $51,731 · management and general $51,731

  • 11f · Fees: investment management

    total $291,797 · management and general $291,797

Balance sheet

Part X, book values.

  • 2 · Savings and temporary cash investments

    beginning of year $3,271,209 · end of year $2,035,121

  • 3 · Pledges and grants receivable

    beginning of year $554,629 · end of year $245,802

  • 11 · Investments: publicly traded securities

    beginning of year $25,885,686 · end of year $26,711,808

  • 15 · Other assets

    beginning of year $31,351,581 · end of year $38,721,091

  • 17 · Accounts payable and accrued expenses

    beginning of year $123,611 · end of year $398,426

  • 27 · Net assets without donor restrictions

    beginning of year $60,939,494 · end of year $67,315,396

Mission and programs · 2023

Mission

PROVIDE SCHOLARSHIPS TO CHILDREN IN CATHOLIC SCHOOLS LISTED IN THE OFFICIAL CATHOLIC DIRECTORY FOR THE ARCHDIOCESE OF CHICAGO.

  • 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.

    Expenses $2,100,000 · Grants $2,100,000

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • Most Reverend Cardinal Cupich

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mary Patricia Burns

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Mr Kevin Speicher

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Bishop Robert Casey

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Edward L Hocter

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Greg Richmond

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Northern Trust Co

    TRUSTEE

    Total calculated
    $37,733
    From this org
    $37,733
    From related orgs
    $0
    Other
    $0
    Hours/week
    1

Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.

Grants on this return

Provenance

Return type
form_990
Tax year
2023
Filed
28 April 2025
IRS schema version
2023v6.0
Source object
202511259349300956

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