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Nonprofiteer
← CATHOLIC FINANCIAL LIFE FOUNDATION INC

Form 990 for tax year 2022

Filed by CATHOLIC FINANCIAL LIFE FOUNDATION INC.

Totals

Total revenue
$424,446
Total expenses
$373,239
Contributions and grants received
$358,083
Grants paid
$364,742
Program service revenue
$0
Investment income
$66,363
Other revenue
$0
Total assets, end of year
$2,517,745
Total liabilities, end of year
$2,979
Net assets or fund balances, end of year
$2,514,766
Program services expenses (Part IX)
$373,239
Management and general expenses
$0
Fundraising expenses
$0
Program service expenses (Part III)
$373,239

Program services were 100.0% 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.

  • 1a · Federated campaigns

    $0

  • 1b · Membership dues

    $0

  • 1c · Fundraising events

    $100,376

  • 1d · Related organizations

    $200,000

  • 1e · Government grants (contributions)

    $0

  • 1f · All other contributions, gifts and grants

    $57,707

  • 1g · Noncash contributions included above

    $0

  • 3 · Investment income

    total $63,955 · related or exempt $63,955 · unrelated business $0 · excluded $0

  • 4 · Income from investment of tax-exempt bond proceeds

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 5 · Royalties

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 6a · Gross rents

    real property $0 · personal property $0

  • 6b · Less rental expenses

    real property $0 · personal property $0

  • 6c · Rental income or loss

    real property $0 · personal property $0

  • 6d · Net rental income or loss

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 7a · Gross sales of assets other than inventory

    securities $1,458,485 · other assets $0

  • 7b · Less cost or other basis and sales expenses

    securities $1,456,077 · other assets $0

  • 7c · Gain or loss

    securities $2,408 · other assets $0

  • 7d · Net gain or loss

    total $2,408 · related or exempt $2,408 · unrelated business $0 · excluded $0

  • 8a · Fundraising events: gross income

    $0

  • 8a · Fundraising events: contributions included on line 1c

    $0

  • 8b · Fundraising events: direct expenses

    $0

  • 8c · Net income from fundraising events

    total $0 · unrelated business $0 · excluded $0

  • 9a · Gaming: gross income

    $0

  • 9b · Gaming: direct expenses

    $0

  • 9c · Net income from gaming

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 10a · Gross sales of inventory

    $0

  • 10b · Cost of goods sold

    $0

  • 10c · Net income from sales of inventory

    total $0 · related or exempt $0 · unrelated business $0 · excluded $0

  • 11e · Other revenue, total

    $0

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $364,742 · program services $364,742

  • 2 · Grants to domestic individuals

    total $0 · program services $0

  • 3 · Grants to foreign organizations and individuals

    total $0 · program services $0

  • 4 · Benefits paid to or for members

    total $0 · program services $0

  • 5 · Compensation of officers, directors and key employees

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 6 · Compensation of disqualified persons

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 7 · Other salaries and wages

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 8 · Pension plan contributions

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 9 · Other employee benefits

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 10 · Payroll taxes

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11a · Fees: management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11b · Fees: legal

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11c · Fees: accounting

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11d · Fees: lobbying

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11e · Fees: professional fundraising services

    total $0 · fundraising $0

  • 11f · Fees: investment management

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 11g · Fees: other

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 12 · Advertising and promotion

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 13 · Office expenses

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 14 · Information technology

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 15 · Royalties

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 16 · Occupancy

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 17 · Travel

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 18 · Travel or entertainment for public officials

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 19 · Conferences, conventions and meetings

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 20 · Interest

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 21 · Payments to affiliates

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 22 · Depreciation, depletion and amortization

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 23 · Insurance

    total $0 · program services $0 · management and general $0 · fundraising $0

  • 24e · All other expenses

    total $8,497 · program services $8,497 · management and general $0 · fundraising $0

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $8,415 · end of year $103,505

  • 2 · Savings and temporary cash investments

    beginning of year $0 · end of year $0

  • 3 · Pledges and grants receivable

    beginning of year $0 · end of year $0

  • 4 · Accounts receivable

    beginning of year $300,000 · end of year $200,750

  • 5 · Loans and receivables from officers and key people

    beginning of year $0 · end of year $0

  • 6 · Loans and receivables from disqualified persons

    beginning of year $0 · end of year $0

  • 7 · Other notes and loans receivable

    beginning of year $0 · end of year $0

  • 8 · Inventories for sale or use

    beginning of year $0 · end of year $0

  • 9 · Prepaid expenses and deferred charges

    beginning of year $0 · end of year $0

  • 10c · Land, buildings and equipment, net

    beginning of year $0

  • 11 · Investments: publicly traded securities

    beginning of year $2,522,795 · end of year $2,205,109

  • 12 · Investments: other securities

    beginning of year $6,409 · end of year $6,565

  • 13 · Investments: program-related

    beginning of year $0 · end of year $0

  • 14 · Intangible assets

    beginning of year $0 · end of year $0

  • 15 · Other assets

    beginning of year $6,467 · end of year $1,816

  • 17 · Accounts payable and accrued expenses

    beginning of year $0 · end of year $2,979

  • 18 · Grants payable

    beginning of year $0 · end of year $0

  • 19 · Deferred revenue

    beginning of year $0 · end of year $0

  • 20 · Tax-exempt bond liabilities

    beginning of year $0 · end of year $0

  • 21 · Escrow or custodial account liability

    beginning of year $0 · end of year $0

  • 22 · Loans and payables to officers and key people

    beginning of year $0 · end of year $0

  • 23 · Secured mortgages and notes payable

    beginning of year $0 · end of year $0

  • 24 · Unsecured notes and loans payable

    beginning of year $0 · end of year $0

  • 25 · Other liabilities

    beginning of year $0

  • 29 · Capital stock, trust principal or current funds

    beginning of year $2,844,086 · end of year $2,514,766

  • 30 · Paid-in or capital surplus, or land, building or equipment fund

    beginning of year $0 · end of year $0

  • 31 · Retained earnings, endowment or other funds

    beginning of year $0 · end of year $0

Mission and programs · 2022

Mission

The Foundation, rooted in the Catholic and fraternal values of stewardship, service, and concern for others, seeks to strengthen individuals, our church, and society by: Providing resources to advance the mission of Catholic parishes and organizations, supporting charitable outreach, educating individuals about philanthropy and planned giving, and providing financial vehicles to accomplish philanthropic objectives.

Activities or mission (Part I)

Provide grants to students attending Catholic educational institutions and support charitable outreach and philanthropy.

  • The foundation was formed to provide grants for educational and religious purposes as well as field of interest causes and charities. In 2022, grants totaling $364,742 were awarded.

    Expenses $373,239 · Grants $364,742 · Revenue $424,446

As filed on the 2022 return.

Listed in Part VII

  • John T Borgen

    President

    Total calculated
    $456,101
    From this org
    $0
    From related orgs
    $407,507
    Other
    $48,594
    Hours/week
    2 + 45 related

    Schedule J breakdown matched by us

    Base
    $328,489
    Bonus
    $66,500
    Other
    $12,518
    Deferred
    $18,300
    Nontaxable benefits
    $30,294
    Filer's total
    $456,101

  • Sara J Walker

    Director

    Total calculated
    $210,190
    From this org
    $0
    From related orgs
    $190,936
    Other
    $19,254
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $173,698
    Bonus
    $16,050
    Other
    $1,188
    Deferred
    $6,786
    Nontaxable benefits
    $12,468
    Filer's total
    $210,190

  • Kristin O'Connell

    Director

    Total calculated
    $202,081
    From this org
    $0
    From related orgs
    $173,123
    Other
    $28,958
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $50,491
    Bonus
    $4,159
    Other
    $118,473
    Deferred
    $10,282
    Nontaxable benefits
    $18,676
    Filer's total
    $202,081

  • Richard Kremel

    Director

    Total calculated
    $136,935
    From this org
    $0
    From related orgs
    $107,310
    Other
    $29,625
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $72,110
    Bonus
    $3,420
    Other
    $31,780
    Deferred
    $6,454
    Nontaxable benefits
    $23,171
    Filer's total
    $136,935

  • Cynthia E Feld

    Treasurer

    Total calculated
    $131,511
    From this org
    $0
    From related orgs
    $123,492
    Other
    $8,019
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $115,107
    Bonus
    $7,201
    Other
    $1,185
    Deferred
    $6,779
    Nontaxable benefits
    $1,240
    Filer's total
    $131,512

  • William R O'Toole

    Chairman of the Board

    Total calculated
    $130,645
    From this org
    $0
    From related orgs
    $115,897
    Other
    $14,748
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $23,256
    Bonus
    $86,700
    Other
    $5,941
    Deferred
    $6,702
    Nontaxable benefits
    $8,046
    Filer's total
    $130,645

  • Sally Krochalk

    Secretary

    Total calculated
    $124,475
    From this org
    $0
    From related orgs
    $105,750
    Other
    $18,725
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $98,260
    Bonus
    $5,385
    Other
    $2,105
    Deferred
    $6,646
    Nontaxable benefits
    $12,079
    Filer's total
    $124,475

  • Daniel T Lloyd

    Director

    Total calculated
    $74,403
    From this org
    $0
    From related orgs
    $69,095
    Other
    $5,308
    Hours/week
    1 + 45 related

    Schedule J breakdown matched by us

    Base
    $49,930
    Bonus
    $0
    Other
    $19,165
    Deferred
    $4,370
    Nontaxable benefits
    $937
    Filer's total
    $74,402

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. A Schedule J breakdown is as filed: base pay, bonus, other, deferred compensation and nontaxable benefits from this organization, with any from related organizations beside each, and the filer's own total. It is shown with the Part VII listing of the same name on the same return. The form gives no key between the two, so that pairing is ours, and is marked matched by us.

Schedule J

Answered yes

None.

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 5a · Pay contingent on this organization's revenues
  • 5b · Pay contingent on a related organization's revenues
  • 6a · Pay contingent on this organization's net earnings
  • 6b · Pay contingent on a related organization's net earnings
  • 7 · Other non-fixed payments
  • 8 · Paid under the initial-contract exception

Part I's answers as filed. A line not listed was left unanswered; on lines 1a and 3 that means the box was not checked.

Grants on this return

Related organizations on this return

Schedule R Part II: tax-exempt organizations related to the filer by control. It does not record shared board members or money.

Provenance

Return type
form_990
Tax year
2022
Filed
7 September 2023
IRS schema version
2022v5.0
Source object
202312509349301621

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