Lafayette Area Catholic Schools Foundation Inc.

990 • Fiscal year 2017 • EIN 35-1376312

Jul 01, 2016 to Jun 30, 2017 • Filed on Aug 22, 2017

Organization Profile N/A

428 N 4th StLafayette, IN 47901

(765) 423-2277

Siviq Scores

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

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

13%

Higher net margin than 71% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

Higher top officer pay than 35% of similar nonprofits.

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

2017 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2017

1.1%

Faster asset growth than 43% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

16%

Faster revenue growth than 69% of similar nonprofits.

2017 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2016 to 2017

Balance Sheet

Liabilities / Assets14th percentile

Assets

$2,340,126

Up $26,599 (+1.1%) from 2016

Net Assets

$2,340,126

Up $26,599 (+1.1%) from 2016

Liabilities

Flat

Flat from 2016

Revenue And Expenses

Liabilities / Revenue14th percentile Net Margin71st percentile

Revenue

$201,006

Up $28,094 (+16%) from 2016

Expenses

$174,407

Up $5,999 (+3.6%) from 2016

Net Income

$26,599

Up $22,095 (+491%) from 2016

Historical Trend

Balance Sheet Trend

Asset Growth43rd percentile

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

Highlighted filing

2017

Assets$2,340,126

Liabilities$0

Net Assets$2,340,126

Open 2017 Filing

Operations Trend

Revenue Growth69th percentile

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

Highlighted filing

2017

Revenue$201,006

Expenses$174,407

Net Income$26,599

Open 2017 Filing

Jump To

Filing Snapshot

Filing Period: Jul 1, 2016 to Jun 30, 2017
Signed: Aug 22, 2017
Return Version: 2016v3.0
Gross Receipts: $498,686

Mission and Program Overview

Mission

To retain and invest contributions and provide income to lafayette area catholic schools (a 501(c)(3)organization)

Balance Sheet Detail

Line	Beginning	End	Change
Assets
Investments in Publicly Traded Securities	$1,970,811	$2,082,315	▲ $111,504
Cash and Non-Interest-Bearing Accounts	$212,214	$152,811	▼ $59,403
Savings and Temporary Cash Investments	$130,502	$105,000	▼ $25,502
Total Assets	$2,313,527	$2,340,126	▲ $26,599
Liabilities
Total Liabilities	$0	$0	→ $0
Net Assets / Fund Balance
Unrestricted Net Assets	$1,947,217	$1,968,822	▲ $21,605
Permanently Rstr Net Assets	$366,310	$371,304	▲ $4,994
Total Net Assets Fund Balance	$2,313,527	$2,340,126	▲ $26,599
Total Liabilities and Net Assets / Fund Balance	$2,313,527	$2,340,126	▲ $26,599

Compensation and Service Providers

Top Officer Pay35th percentile

Board Members and Trustees

Name	Title
Michael Gibson	President
Robert S Laszynski	Vpresident/s
Barbara Ahler	Director
David J Mills	Director
J Wendell Wiley	Director
James Grieves	Director
Joann Brouillette	Director
Joyce Haan Weintraut	Director
Kurt Wilson	Director
Lawrence Anthrop	Director
M Thersa Swaim	Director
Matt Buche	Director
Most Rev Timothy L Doherty	Director
Pat Potts	Director
Thomas R Arth	Director
Leo Klemme	Treasurer

Revenue and Support

Revenue Composition

Contributions and Grants: $7,960
Program Service Revenue: $0
Investment Income: $193,046
Other Revenue: $0
All Other Contributions: $7,960
Change in Net Assets: $26,599

Expenses and Functional Allocation

Major Expense Lines

Line Item	Amount
Other Expenses	$174,407
Grants and Similar Amounts Paid	$0
Professional Fundraising Fees	$0
Salaries, Compensation, and Employee Benefits	$0
Total Fundraising Expense	$0

Functional Expense Allocation

Line Item	Program	Management	Fundraising	Total
Fees for Services Accounting	$3,480	-	-	$3,480
Other Expenses	$825	-	-	$825
Total Functional Expenses	$174,407	$0	$0	$174,407

Fundraising, Events, and Gaming

Fundraising activities: No
Gaming activities: No
Professional fundraiser used: No

Fundraising and Gaming Totals

Line Item	Amount
Professional Fundraising Fees	$0

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
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: Yes
Other officer compensation reviewed: Yes
Conflict-of-interest policy: No
Audited financial statements prepared: No
Key decisions subject to board approval: Yes
Management duties delegated: No

Governance Explanations

Form 990, Page 6, Part VI, Line 6

“The organization is a membership organization. Anyone who donates 5.00 or more is a member. There are over 1500 members. There are no financial benefits for being a member. All officers and directors are required to be members. There are no shareholders nor any provisions therefor.”

Form 990, Page 6, Part VI, Line 7A

“All members of the governing body are elected by majority vote of the members present annually at the annual meeting except the bishop of the catholic church diocese of lafayette indiana. The bishop is an ex officio member of the board. All officers are elected annually by majority vote of the governing body.”

Form 990, Page 6, Part VI, Line 7B

“A majority vote of a quorum of members is required to transact business at a membership meeting.”

Form 990, Page 6, Part VI, Line 11B

“The officers and directors in charge of the tax filings and management of the organization review the 990 before filing. The treasurer reviews it and the president reviews and signs it before filing. The 990 is also available for any voting director, officer, committee member, general member, or the public to review. There is no paid management.”

Form 990, Page 6, Part VI, Line 15A

“The organizations compensation determinations are basic. There is no compensation paid, period.”

Form 990, Page 6, Part VI, Line 15B

“There is no compensation paid.”

Form 990, Page 6, Part VI, Line 19

“The organization makes its governing documents and financial statements available to anyone upon request. In addition the financial statements are distributed to everyone present at the annual meeting and they are published in a newsletter once a year. The organization has no written conflict of interest policy but it is understood independence is a given.”

Filing and Contact Details

Filer

Filer Name: Lafayette Area Catholic School
EIN: 35-1376312
Phone: 7654232277
Address: 428 N 4TH ST, LAFAYETTE, IN 47901

Signing Officer

Name: Michael Gibson
Title: President
Phone: 7654232277
Signed: 2017-08-22
Discuss with paid preparer: Yes

Organization Details

Principal Officer: Michael Gibson
Formed: 1975
Legal Domicile: In
Voting Board Members: 16
Independent Board Members: 16
Employees: 0
Volunteers: 16

Preparer

Firm: Klemme & Co Pc CPA
Address: 428 N 4TH ST, LAFAYETTE, IN 47901-1112
Preparer: Leo F Klemme CPA
Phone: 7654232277

Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“ROUNDING ADJUSTMENT 0”

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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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IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd	0	false
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd	0	false
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt	0	ORGANIZATION ENGAGES IN ACTIVITIES SOLELY FOR THE PURPOSE OF PROVIDING FINANCIAL SUPPORT TO THE LAFAYETTE AREA CATHOLIC SCHOOLS. DONATIONS ARE INVESTED AND PROCEEDS ARE CONTRIBUTED TO LAFAYETTE AREA CATHOLIC SCHOOLS.
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc	0	PART IV, SECTION E, LINE 2A
IRS990ScheduleA/OtherSupportSumAmt	0	0
IRS990ScheduleA/SupportedOrganizationsCnt	0	1
IRS990ScheduleA/SupportedOrganizationsTotalCnt	0	1
IRS990ScheduleA/SupportedOrgInformationGrp/EIN	0	351007012
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd	0	true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd	0	2
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt	0	0
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt	0	149112
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt	0	THE LAFAYETTE AREA CATHOLIC PRIMARY AND SECONDARY SCHLS
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt	0	THE LAFAYETTE AREA CATHOLIC PRIMARY AND SECONDARY SCHLS
IRS990ScheduleA/SupportingOrganization509a3Ind	0	X
IRS990ScheduleA/SupportingOrgType3FuncIntInd	0	X
IRS990ScheduleA/SupportSumAmt	0	149112
IRS990/ScheduleBRequiredInd	0	false
IRS990/ScheduleJRequiredInd	0	false
IRS990/ScheduleORequiredInd	0	true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	0	THE ORGANIZATION IS A MEMBERSHIP ORGANIZATION. ANYONE WHO DONATES 5.00 OR MORE IS A MEMBER. THERE ARE OVER 1500 MEMBERS. THERE ARE NO FINANCIAL BENEFITS FOR BEING A MEMBER. ALL OFFICERS AND DIRECTORS ARE REQUIRED TO BE MEMBERS. THERE ARE NO SHAREHOLDERS NOR ANY PROVISIONS THEREFOR.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	1	ALL MEMBERS OF THE GOVERNING BODY ARE ELECTED BY MAJORITY VOTE OF THE MEMBERS PRESENT ANNUALLY AT THE ANNUAL MEETING EXCEPT THE BISHOP OF THE CATHOLIC CHURCH DIOCESE OF LAFAYETTE INDIANA. THE BISHOP IS AN EX OFFICIO MEMBER OF THE BOARD. ALL OFFICERS ARE ELECTED ANNUALLY BY MAJORITY VOTE OF THE GOVERNING BODY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	2	A MAJORITY VOTE OF A QUORUM OF MEMBERS IS REQUIRED TO TRANSACT BUSINESS AT A MEMBERSHIP MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	3	THE OFFICERS AND DIRECTORS IN CHARGE OF THE TAX FILINGS AND MANAGEMENT OF THE ORGANIZATION REVIEW THE 990 BEFORE FILING. THE TREASURER REVIEWS IT AND THE PRESIDENT REVIEWS AND SIGNS IT BEFORE FILING. THE 990 IS ALSO AVAILABLE FOR ANY VOTING DIRECTOR, OFFICER, COMMITTEE MEMBER, GENERAL MEMBER, OR THE PUBLIC TO REVIEW. THERE IS NO PAID MANAGEMENT.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	4	THE ORGANIZATIONS COMPENSATION DETERMINATIONS ARE BASIC. THERE IS NO COMPENSATION PAID, PERIOD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	5	THERE IS NO COMPENSATION PAID.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	6	THE ORGANIZATION MAKES ITS GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS AVAILABLE TO ANYONE UPON REQUEST. IN ADDITION THE FINANCIAL STATEMENTS ARE DISTRIBUTED TO EVERYONE PRESENT AT THE ANNUAL MEETING AND THEY ARE PUBLISHED IN A NEWSLETTER ONCE A YEAR. THE ORGANIZATION HAS NO WRITTEN CONFLICT OF INTEREST POLICY BUT IT IS UNDERSTOOD INDEPENDENCE IS A GIVEN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt	7	ROUNDING ADJUSTMENT 0
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	0	FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	1	FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	2	FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	3	FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	4	FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	5	FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	6	FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc	7	FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd	0	false
IRS990/SignificantNewProgramSrvcInd	0	false
IRS990/StatesWhereCopyOfReturnIsFldCd	0	IN
IRS990/SubjectToProxyTaxInd	0	false
IRS990/TaxablePartyNotificationInd	0	false
IRS990/TaxExemptBondsInd	0	false
IRS990/TempOrPermanentEndowmentsInd	0	false
IRS990/TerminateOperationsInd	0	false
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IRS990/TotalAssetsEOYAmt	0	2340126
IRS990/TotalAssetsGrp/BOYAmt	0	2313527
IRS990/TotalAssetsGrp/EOYAmt	0	2340126
IRS990/TotalCompGreaterThan150KInd	0	false
IRS990/TotalContributionsAmt	0	7960
IRS990/TotalEmployeeCnt	0	0
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt	0	0
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt	0	0
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt	0	174407
IRS990/TotalFunctionalExpensesGrp/TotalAmt	0	174407
IRS990/TotalGrossUBIAmt	0	0
IRS990/TotalLiabilitiesEOYAmt	0	0
IRS990/TotalLiabilitiesGrp/BOYAmt	0	0
IRS990/TotalLiabilitiesGrp/EOYAmt	0	0
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt	0	2313527
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt	0	2340126
IRS990/TotalProgramServiceExpensesAmt	0	174407
IRS990/TotalRevenueGrp/ExclusionAmt	0	193046
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt	0	201006
IRS990/TotalVolunteersCnt	0	16
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt	0	2313527
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt	0	2340126
IRS990/TrnsfrExmptNonChrtblRltdOrgInd	0	false
IRS990/TypeOfOrganizationCorpInd	0	X
IRS990/UnrelatedBusIncmOverLimitInd	0	false
IRS990/UnrestrictedNetAssetsGrp/BOYAmt	0	1947217
IRS990/UnrestrictedNetAssetsGrp/EOYAmt	0	1968822
IRS990/UponRequestInd	0	X
IRS990/USAddress/AddressLine1Txt	0	713 RED OAKS LANE
IRS990/USAddress/CityNm	0	LAFAYETTE
IRS990/USAddress/StateAbbreviationCd	0	IN
IRS990/USAddress/ZIPCd	0	47901
IRS990/VotingMembersGoverningBodyCnt	0	16
IRS990/VotingMembersIndependentCnt	0	16
IRS990/WhistleblowerPolicyInd	0	false
ReturnHeader/BuildTS	0	2017-02-10 21:41:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd	0	true
ReturnHeader/BusinessOfficerGrp/PersonNm	0	MICHAEL GIBSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt	0	PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum	0	7654232277
ReturnHeader/BusinessOfficerGrp/SignatureDt	0	2017-08-22
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt	0	LAFAYETTE AREA CATHOLIC SCHOOL
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt	0	FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt	0	LAFA
ReturnHeader/Filer/EIN	0	351376312
ReturnHeader/Filer/PhoneNum	0	7654232277
ReturnHeader/Filer/USAddress/AddressLine1Txt	0	428 N 4TH ST
ReturnHeader/Filer/USAddress/CityNm	0	LAFAYETTE
ReturnHeader/Filer/USAddress/StateAbbreviationCd	0	IN
ReturnHeader/Filer/USAddress/ZIPCd	0	47901
ReturnHeader/FilingSecurityInformation/AtSubmissionCreationDeviceId	0	BD5ABEE0DAE9BB249E2C3EDC0AF513904E5C2803
ReturnHeader/FilingSecurityInformation/AtSubmissionFilingDeviceId	0	206A8BC73F343FAED67623ABB169DB3E2E42A601
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN	0	311254277
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt	0	KLEMME & CO PC CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt	0	428 N 4TH ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm	0	LAFAYETTE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd	0	IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd	0	479011112
ReturnHeader/PreparerPersonGrp/PhoneNum	0	7654232277
ReturnHeader/PreparerPersonGrp/PreparationDt	0	2017-08-22
ReturnHeader/PreparerPersonGrp/PreparerPersonNm	0	LEO F KLEMME CPA
ReturnHeader/ReturnTs	0	2017-10-05T09:55:59-05:00
ReturnHeader/ReturnTypeCd	0	990
ReturnHeader/TaxPeriodBeginDt	0	2016-07-01
ReturnHeader/TaxPeriodEndDt	0	2017-06-30
ReturnHeader/TaxYr	0	2016

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2017 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing

Assets: $2,340,126
Liabilities: $0
Net assets: $2,340,126
Revenue: $201,006
Expenses: $174,407
Net income: $26,599

	Balance Sheet			Operations
Year	Assets	Liabilities	Net Assets	Revenue	Expenses	Net Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.	$4.43	$0.00	$4.43	$0.37	$0.27	$0.10
2024Detailed filing. Detailed filing data is available for this year.	$4.33	$0.00	$4.33	$0.26	$0.23	$0.03
2023Detailed filing. Detailed filing data is available for this year.	$4.30	$0.00	$4.30	$1.99	$0.22	$1.78
2022Detailed filing. Detailed filing data is available for this year.	$2.53	$0.00	$2.53	$0.24	$0.21	$0.04
2021Detailed filing. Detailed filing data is available for this year.	$2.49	$0.00	$2.49	$0.23	$0.19	$0.03
2020Detailed filing. Detailed filing data is available for this year.	$2.46	$0.00	$2.46	$0.12	$0.19	$0.07
2019Detailed filing. Detailed filing data is available for this year.	$2.52	$0.00	$2.52	$0.26	$0.18	$0.08
2018Detailed filing. Detailed filing data is available for this year.	$2.44	$0.00	$2.44	$0.28	$0.18	$0.10
2017Detailed filing. Detailed filing data is available for this year.	$2.34	$0.00	$2.34	$0.20	$0.17	$0.03
2016Detailed filing. Detailed filing data is available for this year.	$2.31	$0.00	$2.31	$0.17	$0.17	$0.00
2015Detailed filing. Detailed filing data is available for this year.	$2.31	$0.00	$2.31	$0.19	$0.15	$0.04
2014Detailed filing. Detailed filing data is available for this year.	$2.27	$0.00	$2.27	$0.19	$0.14	$0.06
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.	$2.21	$0.00	$2.21		$0.12