Civic Intelligence

Trinity High School Foundation

990 • Fiscal year 2020 • EIN 31-1105966

Jul 01, 2019 to Jun 30, 2020 • Filed on Feb 16, 2021

4011 Shelbyville RoadLouisville, KY 40207

(502) 895-9427

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

23rd percentile

0.06x

Higher debt load relative to assets than 23% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Liabilities / Revenue

56th percentile

0.52x

Higher debt load relative to revenue than 56% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Net Margin

77th percentile

20%

Higher net margin than 77% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Top Officer Pay

6th percentile

$0

Higher top officer pay than 6% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Source year 2020

Asset Growth

36th percentile

2.2%

Faster asset growth than 36% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Revenue Growth

19th percentile

-15%

Faster revenue growth than 19% of similar nonprofits.

2020 filings • 501(c)3 • $50M-$100M nonprofits • Annualized from 2019 to 2020

Assets

Up

$65,283,001

Up $1,428,196 (+2.2%) from 2019

Net Assets

Up

$61,647,342

Up $275,613 (+0.4%) from 2019

Liabilities

Up

$3,635,659

Up $1,152,583 (+46%) from 2019

Revenue

Down

$6,976,217

Down $1,198,690 (-15%) from 2019

Expenses

Up

$5,599,582

Up $524,949 (+10%) from 2019

Net Income

Down

$1,376,635

Down $1,723,639 (-56%) from 2019

Historical Trend

Balance Sheet Trend

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$150M$100M$50M$0Assets 2015: $40,491,346Liabilities 2015: $1,900,834Net Assets 2015: $38,590,5122015Assets 2016: $41,205,475Liabilities 2016: $2,040,543Net Assets 2016: $39,164,9322016Assets 2017: $51,583,159Liabilities 2017: $1,450,624Net Assets 2017: $50,132,5352017Assets 2018: $59,539,822Liabilities 2018: $958,463Net Assets 2018: $58,581,3592018Assets 2019: $63,854,805Liabilities 2019: $2,483,076Net Assets 2019: $61,371,7292019Assets 2020: $65,283,001Liabilities 2020: $3,635,659Net Assets 2020: $61,647,3422020Assets 2021: $81,832,644Liabilities 2021: $2,196,921Net Assets 2021: $79,635,7232021Assets 2022: $73,357,954Liabilities 2022: $409,545Net Assets 2022: $72,948,4092022Assets 2023: $83,236,053Liabilities 2023: $2,787,246Net Assets 2023: $80,448,8072023Assets 2024: $96,919,214Liabilities 2024: $2,274,059Net Assets 2024: $94,645,1552024Assets 2025: $108,222,120Liabilities 2025: $2,366,448Net Assets 2025: $105,855,6722025

Highlighted filing

2020

Assets$65,283,001
Liabilities$3,635,659
Net Assets$61,647,342

Operations Trend

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$15M$10M$5.0M$0Revenue 2015: $4,673,584Expenses 2015: $3,223,492Net Income 2015: $1,450,0922015Revenue 2016: $5,152,688Expenses 2016: $3,270,405Net Income 2016: $1,882,2832016Revenue 2017: $11,527,782Expenses 2017: $3,392,106Net Income 2017: $8,135,6762017Revenue 2018: $10,153,868Expenses 2018: $3,369,629Net Income 2018: $6,784,2392018Revenue 2019: $8,174,907Expenses 2019: $5,074,633Net Income 2019: $3,100,2742019Revenue 2020: $6,976,217Expenses 2020: $5,599,582Net Income 2020: $1,376,6352020Revenue 2021: $9,792,561Expenses 2021: $5,813,314Net Income 2021: $3,979,2472021Revenue 2022: $9,938,587Expenses 2022: $5,567,865Net Income 2022: $4,370,7222022Revenue 2023: $7,916,539Expenses 2023: $5,864,567Net Income 2023: $2,051,9722023Revenue 2024: $12,774,745Expenses 2024: $6,688,746Net Income 2024: $6,085,9992024Revenue 2025: $12,318,797Expenses 2025: $6,678,360Net Income 2025: $5,640,4372025

Highlighted filing

2020

Revenue$6,976,217
Expenses$5,599,582
Net Income$1,376,635
Jump To
Filing Snapshot
Filing Period
Jul 1, 2019 to Jun 30, 2020
Signed
Feb 16, 2021
Return Version
2019v5.2
Gross Receipts
$19,740,956
Mission and Program Overview

Mission

To advance the mission of trinity high school, inc. ("the school") through the procurement, funding, replenishment and maintenance of educational facilities and the funding of tuition aid for students who attend the school. The symbiotic relationship between the foundation and the school facilitates the school in more effectively focusing on the educational mission which is: "trinity is a catholic, college-preparatory high school, forming men of faith and men of character."

To advance the mission of trinity high school, inc. ("the school") through the procurement, funding, replenishment and maintenance of educational facilities and the funding of tuition aid for students who attend the school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$36,441,833$36,570,945▲ $129,112
Land, Buildings, and Equipment, Net$18,543,880$20,119,346▲ $1,575,466
Savings and Temporary Cash Investments$365,216$1,151,152▲ $785,936
Pledges and Grants Receivable$1,541,032$1,050,087▼ $490,945
Investments Other Securities$318,774$318,774→ $0
Cash and Non-Interest-Bearing Accounts$136,790$72,697▼ $64,093
Total Assets$63,854,805$65,283,001▲ $1,428,196
Other Assets Total$6,507,280$6,000,000▼ $507,280
Liabilities
Mortgage Notes Payable Secured by Investment Property$2,409,792$3,602,993▲ $1,193,201
Deferred Revenue$0$17,700▲ $17,700
Accounts Payable and Accrued Expenses$73,284$14,966▼ $58,318
Total Liabilities$2,483,076$3,635,659▲ $1,152,583
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$45,348,357$40,828,435▼ $4,519,922
Net Assets With Donor Restrictions$16,023,372$20,818,907▲ $4,795,535
Total Net Assets Fund Balance$61,371,729$61,647,342▲ $275,613
Total Liabilities and Net Assets / Fund Balance$63,854,805$65,283,001▲ $1,428,196

Asset Categories

AssetBook ValueDepreciationBasis
Buildings$11,041,919$15,747,115$26,789,034
Land$6,877,282-$6,877,282
Other Land Buildings$1,864,729$2,604,093$4,468,822
Equipment$335,416$226,865$562,281
Other Assets Org$2,600,000--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2019$26,358,284$719,569▼ $241,062$872,825$25,963,966
2018$25,818,689$324,158▲ $977,479$762,042$26,358,284
2017$18,930,410$5,468,643▲ $2,115,406$695,770$25,818,689
2016$15,329,091$1,447,535▲ $2,893,081$739,297$18,930,410
2015$16,101,956$558,187▼ $640,995$690,057$15,329,091
Compensation and Service Providers

Board Members and Trustees

NameTitle
Joe LandenwichChair
Robert J Mullen EddPresident
B J RuckriegelBoard Member
Charles H LeisBoard Member
Charles J KaneBoard Member
Craig KisselBoard Member
David PowerBoard Member
Douglas a StoughBoard Member
Glenn BlincoeBoard Member
Jay OliverBoard Member
Michael BrennanBoard Member
Phil MccauleyBoard Member
Phillip J StueckerBoard Member
Shawn FreibertBoard Member
Clair PatenaudeSecretary/treasurer
Jim BeckhamVP for Development

Highest Paid Contractors

ContractorServicesLocationCompensation
Trinity High SchoolManagement Services4011 SHELBYVILLE ROAD, Louiville, KY 40207$543,450
Revenue and Support

Revenue Composition

Contributions and Grants
$3,428,099
Program Service Revenue
$2,305,900
Investment Income
$1,257,003
Other Revenue
$-14,785
All Other Contributions
$3,142,970
Change in Net Assets
$1,376,635

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
No
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Securities Publicly Traded17$158,876Fair Market Value
Total Noncash Contributions17$158,876-

Audited Revenue Reconciliation

Revenue per Audited Statements
$7,091,746
Revenue Not Reported on Financial Statements
$-115,529
Revenue Not Reported on Form 990
$-1,092,943
Other Revenue Adjustments
$-225,907
Total Revenue per Audited Statements
$5,998,803
Total Revenue per Form 990
$6,976,217
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$3,399,218
Other Expenses$2,200,364
Total Fundraising Expense$583,339
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$3,399,218--$3,399,218
Depreciation Depletion$1,283,094--$1,283,094
Fees for Services Management-$90,335$453,115$543,450
Fees for Service Investment Mgmnt Fees-$110,378-$110,378
Office Expenses--$65,265$65,265
Interest$63,631--$63,631
Fees for Services Other-$23,583-$23,583
Fees for Services Accounting-$19,300-$19,300
Occupancy$10,827$4,731-$15,558
Travel--$12,757$12,757
Information Technology-$4,584-$4,584
Other Expenses$1,717$4,845$1,747$3,464
Total Functional Expenses$4,758,487$257,756$583,339$5,599,582

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Audited Statements$5,723,190
Total Expenses per Form 990$5,599,582
Expenses per Audited Statements$5,489,204
Expenses Not Reported on Form 990$233,986
Expenses Not Reported on Financial Statements$110,378
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Trinity High SchoolLouisville, KY501(c)(3)Tuition Aid and Scholarships$3,399,218
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Direct Expenses$38,919
Fundraising Gross Income$4,400
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Celebration Event$289,529$4,400$32,398$-27,998
Total Events$289,529$4,400$38,919$-34,519
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
No
Key decisions subject to board approval
No
Management duties delegated
Yes

Governance Explanations

Form 990, Part VI, Section A, Line 3

The foundation utilizes the services of trinity high school to perform certain management duties. The foundation pays trinity high school a management fee for these services. Trinity high school's management duties include, but are not limited to, planning, budgeting, bookkeeping and providing an executive director for the foundation. The foundation's director of major gifts, jim beckham also serves in the capacity of an executive director pursuant to the management arrangement with trinity high school for the services he provides to the foundation. Jim beckham received compensation in the amount of $96,500 as a result of this arrangement.

Form 990, Part VI, Section B, Line 11B

The 990 is reviewed by the foundation finance committee chair and the director of finance. After this review, a draft is provided to the board of the foundation.

Form 990, Part VI, Section B, Line 12C

Each member of the board of directors is required to annually review the conflict of interest policy and sign a statement stating they read the policy and either list any potential conflicts or state they have no known conflicts. The board chair reviews all annual statements for potential conflicts.

Form 990, Part VI, Section C, Line 19

The organization makes its governing documents, conflict of interest policy and financial statements available to the public upon request.

Filing and Contact Details

Filer

Filer Name
Trinity High School Foundation
EIN
31-1105966
Phone
5028959427
Address
4011 SHELBYVILLE ROAD, LOUISVILLE, KY 40207

Signing Officer

Name
Robert J Mullen
Title
President
Phone
5028959427
Signed
2021-02-16
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Robert J Mullen
Formed
1983
Legal Domicile
Ky
Voting Board Members
15
Independent Board Members
15
Employees
0
Volunteers
250

Preparer

Firm
Mcm Cpas & Advisors Llp
Address
462 S FOURTH ST SUITE 2600, LOUISVILLE, KY 40202-3445
Preparer
Rebecca L Phillips CPA
Phone
5027491900
Supplemental Narrative

Additional Explanations

FORM 990, PART XI, LINE 9:

Provision for uncollectible pledges -8,079.

Form 990, Part XI, Line 2C

The process has not changed from prior year. The finance committee (also known as resource management committee) assumes responsibility for oversight of the audit of its financial statements and selection of an independent accountant.

Financial Statement Notes

PART V, LINE 4:

The primary purpose of the endowment funds are to support the organization's programs.

PART X, LINE 2:

The foundation has been granted tax-exempt status by the internal revenue service under code section 501(c)(3) as a non-profit organization that is not a private foundation. Accordingly, no income tax expense is reflected in the accompanying financial statements. The foundation recognizes uncertain income tax positions using the "more-likely-than-not" approach as defined in the asc. No liability for uncertain income tax positions has been recorded in the accompanying financial statements.

PART XI, LINE 4B - OTHER ADJUSTMENTS:

Rental expenses -186,988. Fundraising expenses -38,919.

PART XII, LINE 2D - OTHER ADJUSTMENTS:

Uncollectible pledges 8,079. Rental expenses 186,988. Fundraising expenses 38,919.

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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