Education
St Michael Community Education Endowment Fund
SAINT MICHAEL, MN
Total revenue
$56
Total expenses
$46K
Net assets
$1.2M
Grants received
—
EIN
411790330
Tax year
2024
Mission
Provide financial assistance to local pre-k thru 8 catholic school. Hoping to lessen financial burden on individual families by providing funds to purchase technology or other academic needs deemed necessary by staff, to excel in educating children in our community.
Programs
1 program
If investment results allow, the endowment fund makes an annual contribution to the st michael catholic school. Our by-laws read: up to 95% of investment income may be given annually. Beginning 2017 the board implemented a policy for a reserve fund for years of "down" markets - allowing a donation to the school, without dipping into principle dollars. Effective 8/2019 moved 96% of our funds into catholic united financial foundation, investing in ave maria mutual funds (funds vetted to align with catholic values). Effective 02/2024 the board changed giving/grant policy to equal 4% of our year-end cuff fund balance (to nearest 100).
Financials
FY 2024
Revenue
Expenses
People
5 listed
LINDA G BORCHARDT
TREASURER
—
1 hrs/wk
KEVIN ROSE
VICE PRESIDE
—
0.25 hrs/wk
BRIAN BRUNER
PRESIDENT
—
0.5 hrs/wk
STEVE SUSTACEK
SECRETARY
—
0.5 hrs/wk
STEVE HOUSE
DIRECTOR
—
0.25 hrs/wk