Form 990 for tax year 2022
Filed by FOUNDATION FOR THE ADVANCEMENT OF CATHOLIC SCHOOLS INC.
Totals
- Total revenue
- $463,279
- Total expenses
- $874,068
- Contributions and grants received
- $188,491
- Grants paid
- $475,214
- Program service revenue
- $0
- Investment income
- $277,149
- Other revenue
- -$2,361
- Total assets, end of year
- $13,314,534
- Total liabilities, end of year
- $141,886
- Net assets or fund balances, end of year
- $13,172,648
- Program services expenses (Part IX)
- $475,214
- Management and general expenses
- $398,854
- Fundraising expenses
- $0
- Program service expenses (Part III)
- $475,214
Program services were 54.4% of total expenses calculated — Part IX's program-services column over total expenses, both as filed.
Line items
Every line the filer filed in Parts VIII, IX and X, as filed and in filed order. Blank columns are left out, and the lines are not forced to add up to the totals above.
Revenue
Part VIII, the statement of revenue.
-
1c · Fundraising events
$37,701
-
1f · All other contributions, gifts and grants
$150,790
-
3 · Investment income
total $250,128 · excluded $250,128
-
7a · Gross sales of assets other than inventory
securities $27,021
-
7c · Gain or loss
securities $27,021
-
7d · Net gain or loss
total $27,021 · excluded $27,021
-
8a · Fundraising events: gross income
$29,394
-
8a · Fundraising events: contributions included on line 1c
$37,701
-
8b · Fundraising events: direct expenses
$31,755
-
8c · Net income from fundraising events
total -$2,361
Functional expenses
Part IX, the statement of functional expenses.
-
2 · Grants to domestic individuals
total $475,214 · program services $475,214
-
5 · Compensation of officers, directors and key employees
total $141,900 · management and general $141,900
-
7 · Other salaries and wages
total $36,373 · management and general $36,373
-
8 · Pension plan contributions
total $17,844 · management and general $17,844
-
9 · Other employee benefits
total $25,580 · management and general $25,580
-
10 · Payroll taxes
total $13,431 · management and general $13,431
-
11b · Fees: legal
total $120,644 · management and general $120,644
-
11c · Fees: accounting
total $14,744 · management and general $14,744
-
11g · Fees: other
total $840 · management and general $840
-
12 · Advertising and promotion
total $1,436 · management and general $1,436
-
13 · Office expenses
total $9,864 · management and general $9,864
-
14 · Information technology
total $6,411 · management and general $6,411
-
16 · Occupancy
total $6,785 · management and general $6,785
-
17 · Travel
total $223 · management and general $223
-
23 · Insurance
total $2,374 · management and general $2,374
-
24a · Other expenses: LICENSES
total $770 · management and general $770
-
24b · Other expenses: BANK FEES
total $345 · management and general $345
-
24c · Other expenses: TRANSFERS
total -$710 · management and general -$710
Balance sheet
Part X, book values.
-
1 · Cash, non-interest-bearing
end of year $76,321
-
9 · Prepaid expenses and deferred charges
end of year $1,727
-
11 · Investments: publicly traded securities
end of year $13,111,556
-
15 · Other assets
end of year $124,930
-
17 · Accounts payable and accrued expenses
end of year $7,036
-
25 · Other liabilities
end of year $134,850
-
27 · Net assets without donor restrictions
end of year $567,801
-
28 · Net assets with donor restrictions
end of year $12,604,847
Mission and programs · 2022
Mission
TO ASSIST THE PARISH SCHOOLS AND THE ARCHDIOCESAN HIGH SCHOOLS BY PROVIDING FUNDING FOR SCHOLARSHIPS AND SPECIAL PROJECTS. IT IS THE INTENTION OF FACS TO INCREASE THE ACCESSIBILITY OF CATHOLIC EDUCATION TO FAMILIES IN THE ARCHDIOCESE OF HARTFORD. THEREFORE, THE MAJORITY OF GRANTS FUNDED BY FACS ARE DIRECT SCHOLARSHIP ASSISTANCE PARTICULARLY TO DESERVING STUDENTS.
Activities or mission (Part I)
IT IS THE MISSION OF THE FOUNDATION FOR THE ADVANCEMENT OF CATHOLIC SCHOOLS TO SUPPORT AND ASSIST THE PARISH SCHOOLS AND THE ARCHDIOCESAN HIGH SCHOOLS BY PROVIDING FUNDING FOR SCHOLARSHIPS AND SPECIAL PROJECTS. THE FOUNDATION BELIEVES THAT CATHOLIC SCHOOLS PROVIDE STUDENTS WITH AN "EDUCATION FOR A LIFETIME", ESPECIALLY FOR THE POOR AND UNDESERVED CHILDREN AND YOUTH OF THE ARCHDIOCESE OF HARTFORD. WE EXIST BECAUSE CARING PEOPLE WHO UNDERSTAND THE VALUE OF CATHOLIC SCHOOLS TO THE CHILD, THE FAMILY, THE NEIGHBORHOOD, CONNECTICUT AND SOCIETY AS A WHOLE HAVE BEEN DONATING TIME, TALENT AND TREASURE FOR OVER 40 YEARS.
-
THE FOUNDATION BELIEVES THAT CATHOLIC SCHOOLS PROVIDE STUDENTS WITH AN "EDUCATION FOR A LIFETIME", ESPECIALLY FOR THE POOR AND UNDESERVED CHILDREN AND YOUTH OF THE ARCHDIOCESE OF HARTFORD. CARING INDIVIDUALS WHO UNDERSTAND THE VALUE OF CATHOLIC SCHOOLS TO THE CHILD, THE FAMILY, THE NEIGHBORHOOD, CONNECTICUT, AND THE SOCIETY AS A WHOLE HAVE BEEN DONATING TIME, TALENT, AND TREASURE FOR THE BETTERMENT OF SCHOOLS.
Expenses $475,214 · Grants $475,214
As filed on the 2022 return. The filer continues this part on Schedule O, which is not shown here.
Listed in Part VII
-
Brian A GiantonioBRIAN A GIANTONIO
CHAIRMAN AND
- Total calculated
- $0
- Hours/week
- 5
-
Charles HuntCHARLES HUNT
VICE PRESIDE
- Total calculated
- $0
- Hours/week
- 5
-
Patricia TeufelPATRICIA TEUFEL
TREASURER
- Total calculated
- $0
- Hours/week
- 5
-
Nancy PalmisanoNANCY PALMISANO
SECRETARY
- Total calculated
- $0
- Hours/week
- 5
-
Manuel AstiasaranMANUEL ASTIASARAN
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Kevin BradyKEVIN BRADY
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Matthew ByrneMATTHEW BYRNE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Kevin CarrollKEVIN CARROLL
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Douglas CoteDOUGLAS COTE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Rev Daniel KeefeREV DANIEL KEEFE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Andrew Knott EsqANDREW KNOTT ESQ
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Hon James LawlorHON JAMES LAWLOR
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Rev Ryan LernerREV RYAN LERNER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Jane MilasJANE MILAS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Paula Fahy OstopPAULA FAHY OSTOP
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
John PatrickJOHN PATRICK
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Rev Jeffrey RomansREV JEFFREY ROMANS
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Anita SchepkerANITA SCHEPKER
TRUSTEE
- Total calculated
- $0
- Hours/week
- 5
-
John SheaJOHN SHEA
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Mark SinatroMARK SINATRO
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Rev Michael WhyteREV MICHAEL WHYTE
TRUSTEE
- Total calculated
- $0
- Hours/week
- 1
-
Cynthia Basil HowardCYNTHIA BASIL HOWARD
EXECUTIVE DI
- Total calculated
- $141,900
- From this org
- $141,900
- From related orgs
- $0
- Other
- $0
- Hours/week
- 37.5
Compensation is as filed in Part VII: reportable pay from this organization and from related organizations, other compensation, and hours per week. The total, marked calculated, is our sum of the three dollar columns, with a blank column counted as $0; the form itself has no total. On a Form 990-EZ the columns are Part IV's instead, and on a Form 990-PF Part VIII's — compensation, contributions to benefit plans, and expense account — and the total sums those.
Grants on this return
No itemized grants to organizations on this return.
Provenance
- Return type
- form_990
- Tax year
- 2022
- Filed
- 14 November 2023
- IRS schema version
- 2022v5.0
- Source object
- 202323199349306132
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