Civic Intelligence

Spalding Academy Endowment Foundation Inc.

990 • Fiscal year 2024 • EIN 36-3499977

Jul 01, 2023 to Jun 30, 2024 • Filed on Jul 23, 2024

Organization Profile
PO Box 310Spalding, NE 68665

(308) 223-9843

Siviq Scores

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

Liabilities / Assets

47th percentile

0.05x

Higher debt load relative to assets than 47% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Liabilities / Revenue

89th percentile

1.11x

Higher debt load relative to revenue than 89% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Net Margin

19th percentile

-13%

Higher net margin than 19% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Top Officer Pay

40th percentile

$0

Higher top officer pay than 40% of similar nonprofits.

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

2024 filings • 501(c)3 • $1M-$5M nonprofits • Source year 2024

Asset Growth

53rd percentile

5.2%

Faster asset growth than 53% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Revenue Growth

16th percentile

-18%

Faster revenue growth than 16% of similar nonprofits.

2024 filings • 501(c)3 • $1M-$5M nonprofits • Annualized from 2023 to 2024

Balance Sheet
Liabilities / Assets47th percentile

Assets

Up

$3,797,009

Up $187,549 (+5.2%) from 2023

Net Assets

Up

$3,615,724

Up $183,531 (+5.3%) from 2023

Liabilities

Up

$181,285

Up $4,018 (+2.3%) from 2023

Revenue And Expenses
Liabilities / Revenue89th percentileNet Margin19th percentile

Revenue

Down

$162,598

Down $36,298 (-18%) from 2023

Expenses

Up

$183,552

Up $341 (+0.2%) from 2023

Net Income

Down

-$20,954

Down $36,639 (-234%) from 2023

Historical Trend

Balance Sheet Trend

Asset Growth53rd percentile

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

$4.0M$3.0M$2.0M$1.0M$0Assets 2019: $2,027,009Liabilities 2019: $0Net Assets 2019: $2,027,0092019Assets 2020: $3,234,409Liabilities 2020: $70,050Net Assets 2020: $3,164,3592020Assets 2021: $3,993,264Liabilities 2021: $170,263Net Assets 2021: $3,823,0012021Assets 2022: $3,373,850Liabilities 2022: $175,708Net Assets 2022: $3,198,1422022Assets 2023: $3,609,460Liabilities 2023: $177,267Net Assets 2023: $3,432,1932023Assets 2024: $3,797,009Liabilities 2024: $181,285Net Assets 2024: $3,615,7242024Assets 2025: $3,852,654Liabilities 2025: $0Net Assets 2025: $3,852,6542025

Highlighted filing

2024

Assets$3,797,009
Liabilities$181,285
Net Assets$3,615,724
Open 2024 Filing

Operations Trend

Revenue Growth16th percentile

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

$1.5M$1.0M$500K$0-$500KRevenue 2019: $129,331Expenses 2019: $88,560Net Income 2019: $40,7712019Revenue 2020: $1,364,364Expenses 2020: $123,789Net Income 2020: $1,240,5752020Revenue 2021: $450,172Expenses 2021: $218,805Net Income 2021: $231,3672021Revenue 2022: $289,819Expenses 2022: $194,905Net Income 2022: $94,9142022Revenue 2023: $198,896Expenses 2023: $183,211Net Income 2023: $15,6852023Revenue 2024: $162,598Expenses 2024: $183,552Net Income 2024: -$20,9542024Revenue 2025: $316,368Expenses 2025: $202,570Net Income 2025: $113,7982025

Highlighted filing

2024

Revenue$162,598
Expenses$183,552
Net Income-$20,954
Open 2024 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2023 to Jun 30, 2024
Signed
Jul 23, 2024
Return Version
2023v5.0
Gross Receipts
$457,223
Mission and Program Overview

Mission

The mission of the spalding academy endowment foundation, inc. Is to ensure the financial security of spalding academy and support the mission of the school for generations to come.

Balance Sheet Detail
LineBeginningEndChange
Assets
Rtn Earn Endowment Incm Other Fnds$3,432,193$3,615,724▲ $183,531
Investments in Publicly Traded Securities$2,443,650$2,663,173▲ $219,523
Savings and Temporary Cash Investments$362,467$307,374▼ $55,093
Cash and Non-Interest-Bearing Accounts$27,106$27,570▲ $464
Land, Buildings, and Equipment, Net$150--
Total Assets$3,609,460$3,797,009▲ $187,549
Other Assets Total$776,087$798,892▲ $22,805
Liabilities
Other Liabilities$177,267$181,285▲ $4,018
Total Liabilities$177,267$181,285▲ $4,018
Net Assets / Fund Balance
Total Net Assets Fund Balance$3,432,193$3,615,724▲ $183,531
Total Liabilities and Net Assets / Fund Balance$3,609,460$3,797,009▲ $187,549

Asset Categories

AssetBook ValueDepreciationBasis
Other Land Buildings-$1,500$1,500
Other Assets Org$798,892--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2023$3,415,805$27,090▲ $339,993$150$3,599,961
2022$3,181,148$165,823▲ $251,439$300$3,415,805
2021$3,804,057$62,675▲ $207,317$300$3,181,148
2020$3,164,359$248,438▲ $605,250$300$3,804,057
2019$2,027,009$1,212,836▲ $47,641$300$3,164,359
Compensation and Service Providers
Top Officer Pay40th percentile

Board Members and Trustees

NameTitle
Daniel BauerDirector
Kali EschDirector
Tommy MurphyDirector
Dennis BauerDirector/CHA
Tammy DiessnerDirector/sec
Rev Lawrence VadakkanDirector/tre
Pete LeslieDirector/vic
Revenue and Support

Revenue Composition

Contributions and Grants
$27,090
Program Service Revenue
$0
Investment Income
$135,508
Other Revenue
$0
All Other Contributions
$27,090
Change in Net Assets
$-20,954
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$160,000
Other Expenses$23,552
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$160,000--$160,000
Insurance-$12,692-$12,692
Fees for Service Investment Mgmnt Fees-$9,208-$9,208
Fees for Services Accounting-$840-$840
Other Expenses-$619-$619
Depreciation Depletion-$150-$150
Office Expenses-$43-$43
Total Functional Expenses$160,000$23,552$0$183,552
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Spalding AcademySpalding, NE501c3Educational$150,000
ST MICHAEL'S CHURCHSpalding, NE501c3Religious$10,000
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Due to Spalding Academy$181,285
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
No
Other officer compensation reviewed
No
Conflict-of-interest policy
No
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 11B

“Board members are provided a copy of the 990 and it is approved prior to the filing of the return.”

Form 990, Page 6, Part VI, Line 19

“The organization's governing documents and financial statements are available to the public upon request.”

Filing and Contact Details

Filer

Filer Name
Spalding Academy Endowment
EIN
36-3499977
Phone
3082239843
Address
PO BOX 310, SPALDING, NE 68665

Signing Officer

Name
Rev Lawrence Vadakkan
Title
Director/treasurer
Phone
3082239843
Signed
2024-07-23
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Dennis Bauer
Formed
1986
Legal Domicile
Ne
Voting Board Members
7
Independent Board Members
7
Employees
0
Volunteers
8

Preparer

Firm
Mary Glesinger
Address
230 W CREAMERY ST, SPALDING, NE 68665
Preparer
Mary C Glesinger
Phone
3084972299
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“Increase in csv life insurance 26,553”

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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/FactsAndCircumstancesTestTxt0THE FOLLOWING FACTORS SUPPORT THE CURRENT YEAR 10% FACTS AND CIRCUMSTANCES TEST: 1) THE PERCENTAGE OF FINANCIAL SUPPORT FROM PUBLIC SOURCES IS 19.47% AND EXCEEDS 10%; 2)PART OF THE REASON THE PERCENTAGE IS LOW IS BECAUSE IT RECEIVES A HIGH PERCENTAGE (30.4%) OF ITS SUPPORT FROM INVESTMENT INCOME ON ITS ENDOWMENT FUNDS, WHICH WERE CONTRIBUTED BY OVER 500 DONORS SINCE ITS INCEPTION; 3) THE ORGANIZATION RECEIVED DONATIONS FROM 62 INDIVIDUALS DURING THE FISCAL YEAR-ENDED JUNE 30, 2024; 4) THE ORGANIZATION HAS A GOVERNING BODY THAT REPRESENTS THE BROAD INTERESTS OF THE PUBLIC AND CONSISTS OF LOCAL BUSINESSPERSONS, FARMERS, AND A ROMAN CATHOLIC PRIEST/SCHOOL ADMINISTRATOR; 5) THE ORGANIZATION DOES NOT HAVE MEMBERS, ANYONE WISHING TO SUPPORT CATHOLIC EDUCATION IN THE COMMUNITY IS WELCOME TO DO SO; 6) THE ORGANIZATION SOLICITS CONTRIBUTIONS BY ANNUALLY PUBLISHING A NEWSLETTER, WHICH IS MAILED TO SPALDING ACADEMY ALUMNI RESIDING IN THE COMMUNITY AS WELL AS THROUGHOUT THE UNITED STATES. INCLUDED IN THE NEWSLETTER, IS A REPORT ON THE ENDOWMENT SHOWING FUND BALANCES, GIFTS MADE SINCE THE LAST NEWSLETTER, AND AN ADDRESS OF WHERE DONATIONS SHOULD BE MAILED TO. DONATIONS CAN ALSO BE MADE ONLINE AT HTTPS://SPALDINGACADEMY.ORG; AND 7) THE ORGANIZATION HAS RELIED ON ITS STATUS AS A PUBLICLY SUPPORTED ORGANIZATION HAVING RECEIVED A DETERMINATION LETTER WHICH CLASSIFIED IT AS PUBLICLY SUPPORTED AS DESCRIBED IN SECTIONS 509(A)(1) & 170(B)(1)(A)(VI).
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0CASH BEQUEST 50,000 PUBLICLY TRADED SECURITIES 23,440 CASH 470,819 CASH 50,000 CASH 50,000
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt1THE FOLLOWING FACTORS SUPPORT THE CURRENT YEAR 10% FACTS AND CIRCUMSTANCES TEST: 1) THE PERCENTAGE OF FINANCIAL SUPPORT FROM PUBLIC SOURCES IS 19.47% AND EXCEEDS 10%; 2)PART OF THE REASON THE PERCENTAGE IS LOW IS BECAUSE IT RECEIVES A HIGH PERCENTAGE (30.4%) OF ITS SUPPORT FROM INVESTMENT INCOME ON ITS ENDOWMENT FUNDS, WHICH WERE CONTRIBUTED BY OVER 500 DONORS SINCE ITS INCEPTION; 3) THE ORGANIZATION RECEIVED DONATIONS FROM 62 INDIVIDUALS DURING THE FISCAL YEAR-ENDED JUNE 30, 2024; 4) THE ORGANIZATION HAS A GOVERNING BODY THAT REPRESENTS THE BROAD INTERESTS OF THE PUBLIC AND CONSISTS OF LOCAL BUSINESSPERSONS, FARMERS, AND A ROMAN CATHOLIC PRIEST/SCHOOL ADMINISTRATOR; 5) THE ORGANIZATION DOES NOT HAVE MEMBERS, ANYONE WISHING TO SUPPORT CATHOLIC EDUCATION IN THE COMMUNITY IS WELCOME TO DO SO; 6) THE ORGANIZATION SOLICITS CONTRIBUTIONS BY ANNUALLY PUBLISHING A NEWSLETTER, WHICH IS MAILED TO SPALDING ACADEMY ALUMNI RESIDING IN THE COMMUNITY AS WELL AS THROUGHOUT THE UNITED STATES. INCLUDED IN THE NEWSLETTER, IS A REPORT ON THE ENDOWMENT SHOWING FUND BALANCES, GIFTS MADE SINCE THE LAST NEWSLETTER, AND AN ADDRESS OF WHERE DONATIONS SHOULD BE MAILED TO. DONATIONS CAN ALSO BE MADE ONLINE AT HTTPS://SPALDINGACADEMY.ORG; AND 7) THE ORGANIZATION HAS RELIED ON ITS STATUS AS A PUBLICLY SUPPORTED ORGANIZATION HAVING RECEIVED A DETERMINATION LETTER WHICH CLASSIFIED IT AS PUBLICLY SUPPORTED AS DESCRIBED IN SECTIONS 509(A)(1) & 170(B)(1)(A)(VI).
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IRS990ScheduleA/TotalSupportAmt01085730
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IRS990ScheduleD/OtherAssetsOrgGrp/BookValueAmt0798892
IRS990ScheduleD/OtherAssetsOrgGrp/Desc0CASH VALUE OF LIFE INSURANCE
IRS990ScheduleD/OtherLandBuildingsGrp/DepreciationAmt01500
IRS990ScheduleD/OtherLandBuildingsGrp/OtherCostOrOtherBasisAmt01500
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Amt0181285
IRS990ScheduleD/OtherLiabilitiesOrgGrp/Desc0DUE TO SPALDING ACADEMY
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00.88000
IRS990ScheduleD/TermEndowmentBalanceEOYPct00.12000
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IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt0EDUCATIONAL
IRS990ScheduleI/RecipientTable/PurposeOfGrantTxt1RELIGIOUS
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt0SPALDING ACADEMY
IRS990ScheduleI/RecipientTable/RecipientBusinessName/BusinessNameLine1Txt1ST MICHAEL'S CHURCH
IRS990ScheduleI/RecipientTable/RecipientEIN0470403978
IRS990ScheduleI/RecipientTable/RecipientEIN1470403978
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IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0THE FOUNDATION'S PROCEDURES FOR ELIGIBILITY AND SELECTION CRITERIA ARE CONTAINED IN ITS BY-LAWS. PER THE BY-LAWS, THE BOARD OF DIRECTORS SHALL AT LEAST ANNUALLY OR MORE OFTEN, PAY THE INCOME ONLY, AND NOT THE PRINCIPAL, FOR THE USE AND BENEFIT OF SPALDING ACADEMY. THE BOARD ANNUALLY REVIEWS SPALDING ACADEMY'S BUDGET TO DETERMINE THE AMOUNT OF THE GRANT REQUESTED AND AWARDED. THE BOARD ALSO REVIEWS THE INCOME AND EXPENSE REPORTS PROVIDED BY SPALDING ACADEMY TO ENSURE THAT THE AMOUNT AWARDED IS USED FOR PROPER EXPENDITURES. NEWLY NAMED FUNDS IN THE FISCAL-YEAR ENDED JUNE 30, 2020 ALLOW FOR PRINCIPAL TO BE SPENT FOR TEACHER SALARIES, TO SUPPLEMENT MUSIC AND EXTRA-CURRICULAR ACTIVITIES AND TO HIRE A DEVELOPMENT DIRECTOR. GRANTS FROM THESE FUNDS ARE SUPPORTED BY EXPENSE REPORTS. THERE WAS ALSO A NEWLY NAMED FUND OF 100,000, WHICH PROVIDED FOR A 10,000 ANNUAL GRANT TO ST. MICHAEL'S CHURCH PER THE DONOR'S WISHES. ST. MICHAEL'S CHURCH PREPARES AN ANNUAL FINANCIAL REPORT DETAILING ALL OF ITS EXPENDITURES WHICH IS AVAILABLE TO ALL PARISHONERS. THE FOUNDATION'S BOARD, PER ITS BY-LAWS, MUST INCLUDE THE PARISH PRIEST OF ST. MICHAEL'S CHURCH WHO SERVES AS THE SUPERINTENDENT OF SPALDING ACADEMY SCHOOL, AS WELL AS A MEMBER OF THE BOARD OF DIRECTORS OF ST. MICHAEL'S CHURCH AND SPALDING ACADEMY SCHOOL.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE I, PAGE 1, PART I, LINE 2
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IRS990/ScheduleORequiredInd0true
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0BOARD MEMBERS ARE PROVIDED A COPY OF THE 990 AND IT IS APPROVED PRIOR TO THE FILING OF THE RETURN.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION'S GOVERNING DOCUMENTS AND FINANCIAL STATEMENTS ARE AVAILABLE TO THE PUBLIC UPON REQUEST.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2INCREASE IN CSV LIFE INSURANCE 26,553
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc0FORM 990, PAGE 6, PART VI, LINE 11B
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc1FORM 990, PAGE 6, PART VI, LINE 19
IRS990ScheduleO/SupplementalInformationDetail/FormAndLineReferenceDesc2FORM 990, PART XI, LINE 9
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IRS990/SubjectToProxyTaxInd0false
IRS990/SubjToTaxRmnrtnExPrchtPymtInd0false
IRS990/TaxablePartyNotificationInd0false
IRS990/TaxExemptBondsInd0false
IRS990/TerminateOperationsInd0false
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IRS990/TotalGrossUBIAmt00
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IRS990/TotalVolunteersCnt08
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IRS990/TypeOfOrganizationCorpInd0X
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IRS990/UponRequestInd0X
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ReturnHeader/BuildTS02024-10-15 13:58:12Z
ReturnHeader/BusinessOfficerGrp/DiscussWithPaidPreparerInd0true
ReturnHeader/BusinessOfficerGrp/PersonNm0REV LAWRENCE VADAKKAN
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0DIRECTOR/TREASURER
ReturnHeader/BusinessOfficerGrp/PhoneNum03082239843
ReturnHeader/BusinessOfficerGrp/SignatureDt02024-07-23
ReturnHeader/Filer/BusinessName/BusinessNameLine1Txt0SPALDING ACADEMY ENDOWMENT
ReturnHeader/Filer/BusinessName/BusinessNameLine2Txt0FOUNDATION INC
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ReturnHeader/Filer/PhoneNum03082239843
ReturnHeader/Filer/USAddress/AddressLine1Txt0PO BOX 310
ReturnHeader/Filer/USAddress/CityNm0SPALDING
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ReturnHeader/IRSResponsiblePrtyInfoCurrInd0true
ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0MARY GLESINGER
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt0230 W CREAMERY ST
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/CityNm0SPALDING
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ReturnHeader/PreparerFirmGrp/PreparerUSAddress/ZIPCd068665
ReturnHeader/PreparerPersonGrp/PhoneNum03084972299

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2024 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$3,797,009
Liabilities
$181,285
Net assets
$3,615,724
Revenue
$162,598
Expenses
$183,552
Net income
-$20,954
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$3.85$0.00$3.85$0.32$0.20$0.11
2024Detailed filing. Detailed filing data is available for this year.$3.80$0.18$3.62$0.16$0.18$0.02
2023Detailed filing. Detailed filing data is available for this year.$3.61$0.18$3.43$0.20$0.18$0.02
2022Detailed filing. Detailed filing data is available for this year.$3.37$0.18$3.20$0.29$0.19$0.09
2021Detailed filing. Detailed filing data is available for this year.$3.99$0.17$3.82$0.45$0.22$0.23
2020Detailed filing. Detailed filing data is available for this year.$3.23$0.07$3.16$1.36$0.12$1.24
2019Detailed filing. Detailed filing data is available for this year.$2.03$0.00$2.03$0.13$0.09$0.04