Civic Intelligence

Trinity Schools Inc.

990 • Fiscal year 2022 • EIN 35-1502075

Jul 01, 2021 to Jun 30, 2022 • Filed on Apr 05, 2023

107 S GreenlawnSouth Bend, IN 46637

(574) 234-5088

Siviq Scores

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

Liabilities / Assets

53rd percentile

0.20x

Higher debt load relative to assets than 53% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Liabilities / Revenue

31st percentile

0.10x

Higher debt load relative to revenue than 31% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Net Margin

33rd percentile

0.3%

Higher net margin than 33% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Top Officer Pay

32nd percentile

$130,780

Higher top officer pay than 32% of similar nonprofits.

Top officer pay equals 1.0% of source-year revenue.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2022

Asset Growth

11th percentile

-15%

Faster asset growth than 11% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Revenue Growth

57th percentile

7.9%

Faster revenue growth than 57% of similar nonprofits.

2022 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2021 to 2022

Assets

Down

$7,029,834

Down $1,233,611 (-15%) from 2021

Net Assets

Down

$5,645,837

Down $1,048,224 (-16%) from 2021

Liabilities

Down

$1,383,997

Down $185,387 (-12%) from 2021

Revenue

Up

$13,749,929

Up $1,003,591 (+7.9%) from 2021

Expenses

Up

$13,705,500

Up $1,326,416 (+11%) from 2021

Net Income

Down

$44,429

Down $322,825 (-88%) from 2021

Historical Trend

Balance Sheet Trend

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

$10M$5.0M$0Assets 2020: $7,234,374Liabilities 2020: $2,542,475Net Assets 2020: $4,691,8992020Assets 2021: $8,263,445Liabilities 2021: $1,569,384Net Assets 2021: $6,694,0612021Assets 2022: $7,029,834Liabilities 2022: $1,383,997Net Assets 2022: $5,645,8372022Assets 2024: $7,081,061Liabilities 2024: $1,369,090Net Assets 2024: $5,711,9712024

Highlighted filing

2022

Assets$7,029,834
Liabilities$1,383,997
Net Assets$5,645,837

Operations Trend

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

$15M$10M$5.0M$0-$5.0MRevenue 2020: $12,459,606Expenses 2020: $12,049,429Net Income 2020: $410,1772020Revenue 2021: $12,746,338Expenses 2021: $12,379,084Net Income 2021: $367,2542021Revenue 2022: $13,749,929Expenses 2022: $13,705,500Net Income 2022: $44,4292022Revenue 2024: $13,972,343Expenses 2024: $14,137,614Net Income 2024: -$165,2712024

Highlighted filing

2022

Revenue$13,749,929
Expenses$13,705,500
Net Income$44,429
Jump To
Filing Snapshot
Filing Period
Jul 1, 2021 to Jun 30, 2022
Signed
Apr 5, 2023
Return Version
2021v4.0
Gross Receipts
$13,768,524
Mission and Program Overview

Mission

Operation of educational facilities whose goals are that the rational potentialities of students which include the intellectual, moral and aesthetic dimensions of human expression and experiences and to be fully developed in the light of christ. This goal is realized through instruction in the three basic elements of all education; ordered basic knowledge, basic skills of learning and the habitual vision of greatness. Second, the students appropriate the lessons of christian truth in their own lives. This goal is realized through the educational philosophy of the school through the quality of lives of its faculty and through the general climate of the school.

The mission of trinity schools is to impart basic ordered knowledge about the world and to train students in basic intellectual skills and qualities of mind so that they might be of use to god in the wise care and governance of his creation and in the building of his kingdom. We accomplish this by establishing a culture marked by the discovery of truth, the practice of goodness, the creation of beauty and the development of intellectual and aesthetic habits of mind. Trinity school is a community of learners characterized by the rigorous exploration of reality, the free and disciplined exchange of ideas, and active participation in the fine arts.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$5,746,798$4,859,939▼ $886,859
Land, Buildings, and Equipment, Net$922,819$1,054,110▲ $131,291
Cash and Non-Interest-Bearing Accounts$1,108,777$800,343▼ $308,434
Prepaid Expenses and Deferred Charges$130,972$119,020▼ $11,952
Accounts Receivable$203,700$113,898▼ $89,802
Savings and Temporary Cash Investments$150,379$82,524▼ $67,855
Total Assets$8,263,445$7,029,834▼ $1,233,611
Liabilities
Other Liabilities$722,301$828,087▲ $105,786
Deferred Revenue$722,037$478,534▼ $243,503
Accounts Payable and Accrued Expenses$125,046$77,376▼ $47,670
Total Liabilities$1,569,384$1,383,997▼ $185,387
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$3,339,456$2,995,803▼ $343,653
Net Assets With Donor Restrictions$3,354,605$2,650,034▼ $704,571
Total Net Assets Fund Balance$6,694,061$5,645,837▼ $1,048,224
Total Liabilities and Net Assets / Fund Balance$8,263,445$7,029,834▼ $1,233,611

Asset Categories

AssetBook ValueDepreciationBasis
Leasehold Improvements$939,059$126,291$1,065,350
Equipment$115,051$818,364$933,415

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2021$5,746,798$32,095▼ $687,870-$4,859,939
2020$4,515,096-▲ $1,282,263-$5,746,798
2019$4,417,265$109,301▲ $123,650-$4,515,096
2018$4,163,296$210,197▲ $235,310-$4,417,265
2017$4,185,720$84,025▲ $276,402-$4,163,296
Compensation and Service Providers

Employees

NameTitleFull / Part TimeBaseOtherTotal
Jon BalsbaughPresidentFT$103,984$26,796$130,780
Mike ZusiVP of Bus AfPT$44,348$52,338$96,686
Kevin RanaghanVice Chairma--$75,000$75,000
David SalmonDirector--$65,758$65,758
Eric YostControllerFT$44,127$11,583$55,710
Dan BrewerTreasurerPT$6,000$6,000$12,000

Board Members and Trustees

NameTitle
Craig LentChairman
Jo ClarkDirector
Laurie MagillDirector
Larry LamannaSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$910,019
Program Service Revenue
$11,908,749
Investment Income
$416,506
Other Revenue
$514,655
All Other Contributions
$607,575
Change in Net Assets
$44,429

Audited Revenue Reconciliation

Revenue per Audited Statements
$13,749,929
Revenue Not Reported on Form 990
$-1,138,957
Total Revenue per Audited Statements
$12,610,972
Total Revenue per Form 990
$13,749,929
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Salaries, Compensation, and Employee Benefits$6,916,238
Other Expenses$3,989,574
Grants and Similar Amounts Paid$2,799,688
Total Fundraising Expense$256,086
Professional Fundraising Fees$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Other Salaries and Wages$3,633,381$1,516,528$167,800$5,317,709
Grants to Domestic Individuals$2,799,688--$2,799,688
Occupancy$1,684,042$203,516-$1,887,558
Other Employee Benefits$730,808$211,497$6,226$948,531
Payroll Taxes$260,935$131,316$12,837$405,088
Current Officers, Directors, Trustees, and Key Employees-$244,910-$244,910
Advertising$139,192$6,538$57,820$203,550
Office Expenses$120,795$15,467-$136,262
Fees for Services Legal-$95,844-$95,844
Depreciation Depletion$60,774$9,278-$70,052
Insurance$60,039$5,956-$65,995
Other Expenses$37,074$14,334-$51,408
Fees for Service Investment Mgmnt Fees-$46,304-$46,304
Information Technology$29,482$1,196$11,403$42,081
All Other Expenses$30,194$330-$30,524
Conferences and Meetings-$29,106-$29,106
Fees for Services Accounting-$17,992-$17,992
Travel-$15,411-$15,411
Fees for Services Management-$9,515-$9,515
Interest$4,721--$4,721
Total Functional Expenses$10,861,690$2,587,724$256,086$13,705,500

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$13,705,500
Total Expenses per Audited Statements$13,705,500
Total Expenses per Form 990$13,705,500
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$515,397
Fundraising Direct Expenses$18,595
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Annual Appeal$320,782$320,782-$320,782
Winter Events$174,690$174,690-$174,690
Total Events$515,397$515,397$18,595$496,802
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
People of Praise - Related Party$430,117
Ts Health Plan Contributions$397,970
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Backup withholding compliance
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
Yes
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
No

Governance Explanations

Form 990, Page 6, Part VI, Line 4

In march 2022, the articles of incorporation were revised to: 1) clarify the religious purpose of the corporation; 2) further elaborate the mission of the school; 3) indicate the corporation does not have members; 4) update certain language in the dissolution provisions to conform with current united states internal revenue recommendations.

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

The form 990 is reviewed and approved by the board of directors prior to signature by the controller of the organization.

Form 990, Page 6, Part VI, Line 12C

Each board member reviews on an annual basis and signs the trinity schools, inc. Trustee conflict of interest agreement. Any conflict is discussed by the board of directors. There is an expectation of honesty and transparency. The president of the organization expects any board member to meet with him whenever a potential conflict of interest arises.

Form 990, Page 6, Part VI, Line 19

The board makes the form 990 available upon request.

Form 990, Part VII

The directors listed with compensation from related organizations are employed by people of praise, inc. Or serve on their board of directors. The amounts listed as other compensation include cost of health insurance and tuition benefits for their children who are enrolled at trinity schools, inc.

Filing and Contact Details

Filer

Filer Name
Trinity Schools Inc
EIN
35-1502075
Phone
5742345088
Address
107 S GREENLAWN, SOUTH BEND, IN 46637

Signing Officer

Name
Eric Yost
Title
Controller
Phone
5742345088
Signed
2023-04-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Eric Yost
Formed
1981
Legal Domicile
In
Voting Board Members
7
Independent Board Members
4
Employees
157
Volunteers
495

Preparer

Firm
Aranowski & Company
Address
212 E LASALLE AVE STE 220, SOUTH BEND, IN 46617-3562
Preparer
David P Aranowski CPA
Phone
5742894821
Supplemental Narrative

Additional Explanations

FORM 990 - ORGANIZATION'S MISSION

The mission of trinity schools is to impart basic ordered knowledge about the world and to train students in basic intellectual skills and qualities of mind so that they might be of use to god in the wise care and governance of his creation and in the building of his kingdom. We accomplish this by establishing a culture marked by the discovery of truth, the practice of goodness, the creation of beauty and the development of intellectual and aesthetic habits of mind. Trinity school is a community of learners characterized by the rigorous exploration of reality, the free and disciplined exchange of ideas, and active participation in the fine arts.

Form 990, Part XI, Line 9

Investment management fees 46,304

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