Civic Intelligence

Lafayette Area Catholic Schools Foundation Inc.

990 • Fiscal year 2022 • EIN 35-1376312

Jul 01, 2021 to Jun 30, 2022 • Filed on Nov 07, 2022

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.

Liabilities / Assets

17th percentile

0.00x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Liabilities / Revenue

17th percentile

0.00x

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Net Margin

64th percentile

15%

Higher net margin than 64% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Top Officer Pay

39th percentile

$0

Higher top officer pay than 39% of similar nonprofits.

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

2022 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2022

Asset Growth

51st percentile

1.5%

Faster asset growth than 51% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Revenue Growth

53rd percentile

7.7%

Faster revenue growth than 53% of similar nonprofits.

2022 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2021 to 2022

Assets

Up

$2,526,891

Up $37,029 (+1.5%) from 2021

Net Assets

Up

$2,526,891

Up $37,029 (+1.5%) from 2021

Liabilities

Flat

$0

Flat from 2021

Revenue

Up

$243,668

Up $17,401 (+7.7%) from 2021

Expenses

Up

$206,640

Up $14,777 (+7.7%) from 2021

Net Income

Up

$37,028

Up $2,624 (+7.6%) from 2021

Historical Trend

Balance Sheet Trend

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

$6.0M$4.0M$2.0M$0Assets 2013: $2,212,840Liabilities 2013: $0Net Assets 2013: $2,212,8402013Assets 2014: $2,270,415Liabilities 2014: $0Net Assets 2014: $2,270,4152014Assets 2015: $2,309,022Liabilities 2015: $0Net Assets 2015: $2,309,0222015Assets 2016: $2,313,527Liabilities 2016: $0Net Assets 2016: $2,313,5272016Assets 2017: $2,340,126Liabilities 2017: $0Net Assets 2017: $2,340,1262017Assets 2018: $2,442,519Liabilities 2018: $0Net Assets 2018: $2,442,5192018Assets 2019: $2,522,976Liabilities 2019: $0Net Assets 2019: $2,522,9762019Assets 2020: $2,455,460Liabilities 2020: $0Net Assets 2020: $2,455,4602020Assets 2021: $2,489,862Liabilities 2021: $0Net Assets 2021: $2,489,8622021Assets 2022: $2,526,891Liabilities 2022: $0Net Assets 2022: $2,526,8912022Assets 2023: $4,302,674Liabilities 2023: $0Net Assets 2023: $4,302,6742023Assets 2024: $4,332,864Liabilities 2024: $0Net Assets 2024: $4,332,8642024Assets 2025: $4,432,085Liabilities 2025: $0Net Assets 2025: $4,432,0852025

Highlighted filing

2022

Assets$2,526,891
Liabilities$0
Net Assets$2,526,891

Operations Trend

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

$2.0M$1.0M$0-$1.0MExpenses 2013: $117,8502013Revenue 2014: $194,485Expenses 2014: $136,912Net Income 2014: $57,5732014Revenue 2015: $192,633Expenses 2015: $154,026Net Income 2015: $38,6072015Revenue 2016: $172,912Expenses 2016: $168,408Net Income 2016: $4,5042016Revenue 2017: $201,006Expenses 2017: $174,407Net Income 2017: $26,5992017Revenue 2018: $281,088Expenses 2018: $178,695Net Income 2018: $102,3932018Revenue 2019: $261,766Expenses 2019: $181,309Net Income 2019: $80,4572019Revenue 2020: $119,780Expenses 2020: $187,296Net Income 2020: -$67,5162020Revenue 2021: $226,267Expenses 2021: $191,863Net Income 2021: $34,4042021Revenue 2022: $243,668Expenses 2022: $206,640Net Income 2022: $37,0282022Revenue 2023: $1,990,842Expenses 2023: $215,059Net Income 2023: $1,775,7832023Revenue 2024: $263,419Expenses 2024: $233,229Net Income 2024: $30,1902024Revenue 2025: $369,537Expenses 2025: $270,316Net Income 2025: $99,2212025

Highlighted filing

2022

Revenue$243,668
Expenses$206,640
Net Income$37,028
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Nov 7, 2022
Return Version
2021v4.0
Gross Receipts
$429,078
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
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$2,256,486$2,225,136▼ $31,350
Cash and Non-Interest-Bearing Accounts$83,337$171,714▲ $88,377
Savings and Temporary Cash Investments$150,039$130,041▼ $19,998
Total Assets$2,489,862$2,526,891▲ $37,029
Liabilities
Total Liabilities$0$0→ $0
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$1,982,145$2,007,481▲ $25,336
Net Assets With Donor Restrictions$507,717$519,410▲ $11,693
Total Net Assets Fund Balance$2,489,862$2,526,891▲ $37,029
Total Liabilities and Net Assets / Fund Balance$2,489,862$2,526,891▲ $37,029
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$4,891
Program Service Revenue
$0
Investment Income
$238,777
Other Revenue
$0
All Other Contributions
$4,891
Change in Net Assets
$37,028
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$206,640
Grants and Similar Amounts Paid$0
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Fees for Service Investment Mgmnt Fees$22,618--$22,618
Fees for Services Accounting$3,480--$3,480
Other Expenses$443--$443
Total Functional Expenses$206,640$0$0$206,640
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
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 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
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
2022-11-07
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 1

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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/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd0false
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd0false
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesEngagedOrgInvlmntInd0false
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesFurtherExemptPrpsInd0true
IRS990ScheduleA/Form990SchAType3FuncIntGrp/ActivitiesTestInd0X
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/OfficersCloseRelationshipInd0true
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/SupportedOrgVoiceInvestmentInd0false
IRS990ScheduleA/Form990SchAType3SprtOrgAllGrp/TimelyProvidedDocumentsInd0false
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0ORGANIZATION 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/FormAndLineReferenceDesc0PART IV, SECTION E, LINE 2A
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0351007012
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd0true
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0177240
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0THE LAFAYETTE AREA CATHOLIC PRIMARY AND SECONDARY SCHLS
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine2Txt0THE LAFAYETTE AREA CATHOLIC PRIMARY AND SECONDARY SCHLS
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType3FuncIntInd0X
IRS990ScheduleA/SupportSumAmt0177240
IRS990/ScheduleBRequiredInd0false
IRS990/ScheduleJRequiredInd0false
IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0THE 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/ExplanationTxt1ALL 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/ExplanationTxt2A MAJORITY VOTE OF A QUORUM OF MEMBERS IS REQUIRED TO TRANSACT BUSINESS AT A MEMBERSHIP MEETING.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE 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/ExplanationTxt4THE ORGANIZATIONS COMPENSATION DETERMINATIONS ARE BASIC. THERE IS NO COMPENSATION PAID, PERIOD.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt5THERE IS NO COMPENSATION PAID.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt6THE 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/ExplanationTxt7ROUNDING 1
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 6
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 7A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PAGE 6, PART VI, LINE 7B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc3FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc4FORM 990, PAGE 6, PART VI, LINE 15A
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc5FORM 990, PAGE 6, PART VI, LINE 15B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc6FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc7FORM 990, PART XI, LINE 9
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IRS990/SignificantChangeInd0false
IRS990/SignificantNewProgramSrvcInd0false
IRS990/StatesWhereCopyOfReturnIsFldCd0IN
IRS990/SubjectToExcsTaxNetInvstIncInd0false
IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
IRS990/TotalAssetsBOYAmt02489862
IRS990/TotalAssetsEOYAmt02526891
IRS990/TotalAssetsGrp/BOYAmt02489862
IRS990/TotalAssetsGrp/EOYAmt02526891
IRS990/TotalCompGreaterThan150KInd0false
IRS990/TotalContributionsAmt04891
IRS990/TotalEmployeeCnt00
IRS990/TotalFunctionalExpensesGrp/FundraisingAmt00
IRS990/TotalFunctionalExpensesGrp/ManagementAndGeneralAmt00
IRS990/TotalFunctionalExpensesGrp/ProgramServicesAmt0206640
IRS990/TotalFunctionalExpensesGrp/TotalAmt0206640
IRS990/TotalGrossUBIAmt00
IRS990/TotalLiabilitiesEOYAmt00
IRS990/TotalLiabilitiesGrp/BOYAmt00
IRS990/TotalLiabilitiesGrp/EOYAmt00
IRS990/TotalNetAssetsFundBalanceGrp/BOYAmt02489862
IRS990/TotalNetAssetsFundBalanceGrp/EOYAmt02526891
IRS990/TotalProgramServiceExpensesAmt0206640
IRS990/TotalRevenueGrp/ExclusionAmt0238309
IRS990/TotalRevenueGrp/RelatedOrExemptFuncIncomeAmt0468
IRS990/TotalRevenueGrp/TotalRevenueColumnAmt0243668
IRS990/TotalVolunteersCnt016
IRS990/TotLiabNetAssetsFundBalanceGrp/BOYAmt02489862
IRS990/TotLiabNetAssetsFundBalanceGrp/EOYAmt02526891
IRS990/TrnsfrExmptNonChrtblRltdOrgInd0false
IRS990/TypeOfOrganizationCorpInd0X
IRS990/UnrelatedBusIncmOverLimitInd0false
IRS990/UponRequestInd0X
IRS990/USAddress/AddressLine1Txt0713 RED OAKS LANE
IRS990/USAddress/CityNm0LAFAYETTE
IRS990/USAddress/StateAbbreviationCd0IN
IRS990/USAddress/ZIPCd047901
IRS990/VotingMembersGoverningBodyCnt016
IRS990/VotingMembersIndependentCnt016
IRS990/WhistleblowerPolicyInd0false
ReturnHeader/BuildTS02022-09-23 18:48:47Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0MICHAEL GIBSON
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0PRESIDENT
ReturnHeader/BusinessOfficerGrp/PhoneNum07654232277
ReturnHeader/BusinessOfficerGrp/SignatureDt02022-11-07
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0LAFAYETTE AREA CATHOLIC SCHOOL
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
ReturnHeader/Filer/BusinessNameControlTxt0LAFA
ReturnHeader/Filer/EIN0351376312
ReturnHeader/Filer/PhoneNum07654232277
ReturnHeader/Filer/USAddress/AddressLine1Txt0428 N 4TH ST
ReturnHeader/Filer/USAddress/CityNm0LAFAYETTE
ReturnHeader/Filer/USAddress/StateAbbreviationCd0IN
ReturnHeader/Filer/USAddress/ZIPCd047901
ReturnHeader/PreparerFirmGrp/PreparerFirmEIN0311254277
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0KLEMME & CO PC CPA
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0428 N 4TH ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0LAFAYETTE
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/StateAbbreviationCd0IN
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd0479011112
ReturnHeader/PreparerPersonGrp/PhoneNum07654232277
ReturnHeader/PreparerPersonGrp/PreparationDt02022-12-09
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0LEO F KLEMME CPA
ReturnHeader/ReturnTs02022-12-09T14:24:02-05:00
ReturnHeader/ReturnTypeCd0990
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonFirstNm0MICHAEL
ReturnHeader/SigningOfficerGrp/PersonFullName/PersonLastNm0GIBSON
ReturnHeader/TaxPeriodBeginDt02021-07-01
ReturnHeader/TaxPeriodEndDt02022-06-30
ReturnHeader/TaxYr02021

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