Nonprofit · EIN 36-2544845
REVEREND ROBERT J LOFTUS ENDOWMENT AND SCHOLARSHIP FUND
Tax-exempt (reinstated) · MT PROSPECT, IL 60056
Financials
| Year ended | Form | Revenue | Expenses | Net income | Total assets | Liabilities | Net assets |
|---|---|---|---|---|---|---|---|
| December 31, 2024 | 990 | $77,027 | $51,733 | $25,294 | $1,116,677 | $0 | $1,116,677 |
| December 31, 2023 | 990 | $68,288 | $34,799 | $33,489 | $1,091,383 | $0 | $1,091,383 |
Financial details: 990 for the year ended December 31, 2024
Revenue
- Contributions, gifts and grants
- $37,368
- Program service revenue
- $0
- Investment income
- $37,399
- Net rental income
- $2,260
- Other revenue
- $2,260
Expenses
- Grants and similar amounts paid
- $45,890
- Salaries, compensation and benefits (total)
- $0
- Professional fundraising fees
- $0
- Accounting fees
- $1,995
- Depreciation
- $3,835
- Program services (functional)
- $45,890
- Management and general (functional)
- $5,843
Balance sheet and other
- Total assets, start of year
- $1,091,383
- Total assets, end of year
- $1,116,677
- Total liabilities, end of year
- $0
- Net assets, end of year
- $1,116,677
- Land, buildings and equipment
- $86,459
- Publicly traded securities
- $1,022,093
- Gross receipts
- $80,717
- Employees
- 0
- Volunteers
- 7
- Year formed
- 1987
- State of legal domicile
- IL
From the e-filed returns the IRS publishes as XML (latest three processing years; amended returns replace the original). PDF copies at the IRS.
Officers, directors and key employees
As listed on the 990 for the year ended December 31, 2024, highest compensation first.
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAMES MCGOUGH | PRESIDENT/DIRECTOR Officer | 1 | $0 |
| KYMM RECHT | TREASURER/DIRECTOR Officer | 2 | $0 |
| DEBRA R LESTER | BOARD MEMBER Officer | 1 | $0 |
| DONALD BURKE | DIRECTOR Officer | 3 | $0 |
| LIBBY BULLOCK | DIRECTOR Officer | 1 | $0 |
990 for the year ended December 31, 2023: 5 people
| Name | Title | Hours / week | Compensation |
|---|---|---|---|
| JAMES MCGOUGH | PRESIDENT/DIRECTOR Officer | 1 | $0 |
| KYMM RECHT | TREASURER/DIRECTOR Officer | 2 | $0 |
| DEBRA R LESTER | BOARD MEMBER Officer | 1 | $0 |
| DONALD BURKE | DIRECTOR Officer | 3 | $0 |
| LIBBY BULLOCK | DIRECTOR Officer | 1 | $0 |
Address and contacts
- Address (IRS master file)
- 300 S ELMHURST AVE, MT PROSPECT, IL 60056-3129
- Principal officer (990 for 2024)
- JAMES MCGOUGH, 204 I OKA AVE, MOUNT PROSPECT, IL 60056
- Signed the 990
- KYMM RECHT, TREASURER
- Phone
- (847) 235-3608
- Return prepared by
- MICHAELIDES CONSULTING LTD
Mission
TO PROVIDE PARTIAL SCHOLARSHIPS TO FAMILIES REQUIRING FINANCIAL ASSISTANCE SO THAT THEY MAY SEND THEIR CHILDREN TO SAINT RAYMOND SCHOOL, WHICH IS A PRIVATE CATHOLIC SCHOOL.
Program accomplishments
- THE ROBERT J. LOFTUS ENDOWMENT & SCHOLARSHIP FUND PROVIDED FINANCIAL ASSISTANCE TO FAMILIES TO HELP PAY FOR THE TUITION COSTS AT ST. RAYMOND CATHOLIC SCHOOL IN ORDER TO OBTAIN A FAITH BASED EDUCATION.Expenses $23,236 · revenue $23,236
- THE ROBERT J. LOFTUS ENDOWMENT & SCHOLARSHIP FUND CONTRIBUTED $14,125 TO THE TEACHERS OF ST. RAYMOND SCHOOL TO ENHANCE THEIR ANNUAL COMPENSATION IN ORDER TO PARTIALLY BRIDGE THE GAP BETWEEN PAY FROM PUBLIC SCHOOL TEACHERS AND PRIVATE SCHOOL TEACHERS.Expenses $22,654
What it must file and when
IRS records say it files Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N. Its accounting year ends in December, so each return is due on the 15th day of the 5th month after that.
| Tax year | Year ended | Due | IRS public records |
|---|---|---|---|
| 2025 | December 31, 2025 | May 15, 2026 | Not on file |
| 2024 | December 31, 2024 | May 15, 2025 | 990 on file |
| 2023 | December 31, 2023 | May 15, 2024 | 990 on file |
IRS record
- EIN
- 36-2544845
- Tax-exempt status
- 501(c)(3): Charitable, religious, educational or scientific organization
- Foundation status
- Publicly supported organization (170(b)(1)(A)(vi))
- Donations deductible (Pub 78)
- Public charity, 50% deduction limit
- Exempt since
- 2021
- Accounting year ends
- December
- Files
- Form 990 or 990-EZ
- Assets (IRS master file)
- $1,116,677
- Income (IRS master file)
- $80,717
Revocation and reinstatement
- Exemption revoked
- May 15, 2019
- Posted by the IRS
- August 12, 2019
- Reinstated
- Effective May 15, 2019
From the IRS automatic revocation list: organizations that did not file a required return or e-Postcard for three consecutive years.
Filing history
| Form | Year ended | Revenue | Expenses | Assets | Return |
|---|---|---|---|---|---|
| 990 | December 2024 | $77,027 | $51,733 | $1,116,677 | XML |
| 990 | December 2023 | $68,288 | $34,799 | $1,091,383 | XML |
| 990 | December 2022 | $53,584 | $32,288 | $1,057,892 | IRS |
| 990 | December 2021 | – | – | – | IRS |
| 990 | December 2020 | – | – | – | IRS |
990-N: the IRS bulk file holds only the latest e-Postcard per organization; earlier years come from archived copies of that file since 2020 and can have gaps (the IRS e-Postcard search lists every one). 990, 990-EZ, 990-PF, 990-T: every e-filed return in the IRS e-file index since 2019; XML for the latest three processing years, amounts from the IRS Statistics of Income extracts before that. PDF copies and determination letters at the IRS (search EIN 36-2544845).
Questions about REVEREND ROBERT J LOFTUS ENDOWMENT AND SCHOLARSHIP FUND
- What is the EIN of REVEREND ROBERT J LOFTUS ENDOWMENT AND SCHOLARSHIP FUND?
- The employer identification number (EIN) of REVEREND ROBERT J LOFTUS ENDOWMENT AND SCHOLARSHIP FUND is 36-2544845.
- Is REVEREND ROBERT J LOFTUS ENDOWMENT AND SCHOLARSHIP FUND tax-exempt?
- Yes. The IRS revoked its exemption on May 15, 2019 and reinstated it effective May 15, 2019.
- Are donations to REVEREND ROBERT J LOFTUS ENDOWMENT AND SCHOLARSHIP FUND tax-deductible?
- Yes. It is listed in IRS Publication 78 (Public charity, 50% deduction limit).
- Which annual return does REVEREND ROBERT J LOFTUS ENDOWMENT AND SCHOLARSHIP FUND file?
- Form 990 or 990-EZ. Based on its last return; a smaller organization may file the 990-N.
- When is the next return of REVEREND ROBERT J LOFTUS ENDOWMENT AND SCHOLARSHIP FUND due?
- The return for tax year 2025 (the year ending December 31, 2025) is due May 15, 2026. Form 8868 extends it by six months; the 990-N cannot be extended.
- When did REVEREND ROBERT J LOFTUS ENDOWMENT AND SCHOLARSHIP FUND last file with the IRS?
- The latest return in the IRS public files is the 990 for the year ended December 2024.
- Who is the principal officer of REVEREND ROBERT J LOFTUS ENDOWMENT AND SCHOLARSHIP FUND?
- The 990 for the year ended December 31, 2024 names JAMES MCGOUGH.
- Who are the officers and directors of REVEREND ROBERT J LOFTUS ENDOWMENT AND SCHOLARSHIP FUND?
- The 990 for the year ended December 31, 2024 lists 5 people; 0 received compensation from the organization.
- How much revenue does REVEREND ROBERT J LOFTUS ENDOWMENT AND SCHOLARSHIP FUND have?
- On its 990 for the year ended December 31, 2024 it reported revenue of $77,027, expenses of $51,733 and total assets of $1,116,677 at year end.
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