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Nonprofiteer
← MOUNT SAINT BENEDICT FOUNDATION

Form 990 for tax year 2022

Filed by MOUNT SAINT BENEDICT FOUNDATION.

Totals

Total revenue
$1,105,881
Total expenses
$13,666,603
Contributions and grants received
$138,090
Grants paid
$13,522,416
Program service revenue
$0
Investment income
$967,791
Other revenue
$0
Total assets, end of year
$432,561
Total liabilities, end of year
$98,612
Net assets or fund balances, end of year
$333,949
Program services expenses (Part IX)
$13,522,416
Management and general expenses
$144,187
Fundraising expenses
$0
Program service expenses (Part III)
$13,522,416

Program services were 98.9% 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

    $138,090

  • 3 · Investment income

    total $339,976 · excluded $339,976

  • 7a · Gross sales of assets other than inventory

    securities $20,544,528

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

    securities $19,916,713

  • 7c · Gain or loss

    securities $627,815

  • 7d · Net gain or loss

    total $627,815 · excluded $627,815

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $13,522,416 · program services $13,522,416

  • 5 · Compensation of officers, directors and key employees

    total $65,336 · management and general $65,336

  • 10 · Payroll taxes

    total $4,871 · management and general $4,871

  • 11b · Fees: legal

    total $2,151 · management and general $2,151

  • 11c · Fees: accounting

    total $9,535 · management and general $9,535

  • 11f · Fees: investment management

    total $17,453 · management and general $17,453

  • 12 · Advertising and promotion

    total $22,801 · management and general $22,801

  • 13 · Office expenses

    total $12,410 · management and general $12,410

  • 14 · Information technology

    total $5,299 · management and general $5,299

  • 16 · Occupancy

    total $2,400 · management and general $2,400

  • 17 · Travel

    total $533 · management and general $533

  • 23 · Insurance

    total $1,358 · management and general $1,358

  • 24a · Other expenses: PROFESSIONAL ENRICHMENT

    total $40 · management and general $40

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $81,078 · end of year $111,808

  • 2 · Savings and temporary cash investments

    beginning of year $386,025 · end of year $320,753

  • 11 · Investments: publicly traded securities

    beginning of year $12,322,185

  • 15 · Other assets

    beginning of year $215,142 · end of year $0

  • 17 · Accounts payable and accrued expenses

    beginning of year $64,157

  • 25 · Other liabilities

    beginning of year $48,362 · end of year $98,612

  • 27 · Net assets without donor restrictions

    beginning of year $12,755,033 · end of year $183,316

  • 28 · Net assets with donor restrictions

    beginning of year $136,878 · end of year $150,633

Mission and programs · 2022

Mission

FINANCIAL DEVELOPMENT AND FURTHERANCE OF THE PURPOSES OF THE SISTERS OF ST. BENEDICT AND SIMILAR PROJECTS DESIGNED TO ASSIST THEIR WORK.

  • THE PURPOSE OF THE FOUNDATION IS PRIMARILY TO RAISE FUNDS FOR THE BENEFIT OF SISTERS OF ST. BENEDICT OF CROOKSTON AND ITS AFFILIATES.

    Expenses $13,522,416 · Grants $13,522,416

As filed on the 2022 return.

Listed in Part VII

  • Sister Jane Becker

    PRESIDENT

    Total calculated
    $0
    Hours/week
    1

  • Sister Myra Schmieg

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • Dan Olson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Kevin Yaggie

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Jack Robertson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Sister Kathy Kuchar

    SECRETARY

    Total calculated
    $0
    Hours/week
    1

  • Sister Anita Whalen

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Suzanne Nelson

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Brad Brekken

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Allen Foltz

    BOARD MEMBER

    Total calculated
    $0
    Hours/week
    1

  • Heidi Whiting

    FOUNDATION DIRECTOR

    Total calculated
    $64,112
    From this org
    $0
    From related orgs
    $57,662
    Other
    $6,450
    Hours/week
    40

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

The 10 largest by cash amount. The API serves every itemized grant.

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
10 October 2023
IRS schema version
2022v5.0
Source object
202302929349300110

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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