Form 990 for tax year 2023

Revenue

Part VIII, the statement of revenue.

• 1d · Related organizations

  $10,242,840

• 1f · All other contributions, gifts and grants

  $485,246

• 2a · Program service revenue: TUITION AND FEES

  total $707,551 · related or exempt $707,551

• 2b · Program service revenue: MISCELLANEOUS REVENUE

  total $17,239 · related or exempt $17,239

• 3 · Investment income

  total $31,470 · excluded $31,470

• 10a · Gross sales of inventory

  $162,745

• 10b · Cost of goods sold

  $103,907

• 10c · Net income from sales of inventory

  total $58,838 · related or exempt $58,838

Functional expenses

Part IX, the statement of functional expenses.

• 2 · Grants to domestic individuals

  total $578,775 · program services $578,775

• 7 · Other salaries and wages

  total $1,810,692 · program services $1,575,063 · management and general $235,629

• 8 · Pension plan contributions

  total $119,428 · program services $105,968 · management and general $13,460

• 9 · Other employee benefits

  total $311,121 · program services $271,159 · management and general $39,962

• 10 · Payroll taxes

  total $108,888 · program services $96,158 · management and general $12,730

• 11b · Fees: legal

  total $14,060 · fundraising $14,060

• 11c · Fees: accounting

  total $86,359 · program services $44,404 · management and general $41,955

• 11g · Fees: other

  total $192,487 · program services $169,485 · management and general $23,002

• 12 · Advertising and promotion

  total $136,886 · program services $97,380 · management and general $30,512 · fundraising $8,994

• 13 · Office expenses

  total $1,974,373 · program services $1,677,901 · management and general $183,697 · fundraising $112,775

• 14 · Information technology

  total $277,977 · program services $267,869 · management and general $10,108

• 16 · Occupancy

  total $1,374,091 · program services $1,102,466 · management and general $271,625

• 17 · Travel

  total $77,316 · program services $44,805 · management and general $32,511

• 19 · Conferences, conventions and meetings

  total $132,553 · program services $89,212 · management and general $43,341

• 20 · Interest

  total $750,000 · program services $722,727 · management and general $27,273

• 22 · Depreciation, depletion and amortization

  total $2,926,303 · program services $2,817,568 · management and general $108,735

• 23 · Insurance

  total $115,061 · program services $108,536 · management and general $6,525

• 24a · Other expenses: PROFESSORIAL COSTS

  total $172,676 · program services $172,676

• 24b · Other expenses: CANTORS AND MUSICIANS

  total $153,630 · program services $153,630

• 24c · Other expenses: EXHIBIT EXPENDITURES

  total $77,372 · program services $77,372

• 24d · Other expenses: INVENTORY RESERVE

  total $73,000 · management and general $73,000

• 24e · All other expenses

  total $252,012 · program services $214,634 · management and general $30,391 · fundraising $6,987

Balance sheet

Part X, book values.

• 1 · Cash, non-interest-bearing

  beginning of year $606,453 · end of year $240,609

• 4 · Accounts receivable

  beginning of year $7,175 · end of year $1,857

• 8 · Inventories for sale or use

  beginning of year $297,341 · end of year $162,651

• 9 · Prepaid expenses and deferred charges

  beginning of year $4,162,248 · end of year $3,910,093

• 10a · Land, buildings and equipment: cost or other basis

  $74,508,753

• 10b · Land, buildings and equipment: accumulated depreciation

  $28,441,340

• 10c · Land, buildings and equipment, net

  beginning of year $48,781,621 · end of year $46,067,413

• 11 · Investments: publicly traded securities

  beginning of year $1,066,949 · end of year $1,118,795

• 15 · Other assets

  beginning of year $0 · end of year $6,300

• 17 · Accounts payable and accrued expenses

  beginning of year $211,450 · end of year $210,947

• 25 · Other liabilities

  beginning of year $15,304,972 · end of year $12,042,635

• 27 · Net assets without donor restrictions

  beginning of year $39,405,365 · end of year $39,254,136

The filer's explanations (Part III)

PART I, LINE 3

ALL OFFICERS AND DIRECTORS' COMPENSATION IS PAID BY A RELATED ORGANIZATION. THE COMPENSATION PROCESS AND INDEPENDENT REVIEW WAS PERFORMED BY THE RELATED ORGANIZATION, KNIGHTS OF COLUMBUS, A SECTION 501(C)(8) ORGANIZATION. KNIGHTS OF COLUMBUS' COMPENSATION PROCESS IS AS FOLLOWS: THE EXECUTIVE COMPENSATION COMMITTEE OF THE BOARD OF DIRECTORS ENGAGES AN INDEPENDENT COMPENSATION CONSULTANT ON AN ANNUAL BASIS, INCLUDING IN 2023, FOR A REVIEW OF THE REASONABLENESS OF TOTAL COMPENSATION PROVIDED TO SUPREME OFFICERS AND OTHER TOP MANAGEMENT OFFICIALS. THE INDEPENDENT COMPENSATION CONSULTANT USES SURVEY SOURCES THAT THEY HAVE COMPILED PLUS OTHER PUBLISHED SURVEYS TO PRESENT A REPORT OF COMPARABLE MARKET DATA OF TOTAL COMPENSATION FOR EACH MANAGEMENT POSITION. THE EXECUTIVE COMPENSATION COMMITTEE REVIEWS AND DISCUSSES THE COMPARABLE MARKET DATA BEFORE MAKING A RECOMMENDATION TO THE BOARD OF DIRECTORS. AFTER A REVIEW AND DISCUSSION ABOUT THE COMPARABLE MARKET DATA AND THE INDIVIDUALS IN THE ROLES UNDER REVIEW, A VOTE IS TAKEN TO APPROVE A NEW SALARY RANGE AND OBJECTIVE BONUS STRUCTURE FOR THE TOP MANAGEMENT INDIVIDUALS. TOTAL COMPENSATION FOR EACH INDIVIDUAL IS WITHIN THE RANGE APPROVED BY THE BOARD OF DIRECTORS WHICH IS WITHIN THE COMPARABLE MARKET DATA.

PART I, LINE 4B

PATRICK E. KELLY $112,148 JOHN A. MARRELLA 133,102 RONALD F. SCHWARZ 51,240 PATRICK T. MASON 6,215 PAUL G. O'SULLIVAN 32,024 KNIGHTS OF COLUMBUS SPONSORS A NONQUALIFIED DEFERRED COMPENSATION PLAN THAT IS DESIGNED TO MAKE UP FOR BENEFITS LOST IN THE TAX-QUALIFIED RETIREMENT PLAN. ONCE A PARTICIPANT BECOMES VESTED IN THIS NONQUALIFIED DEFERRED COMPENSATION PLAN, BY LAW, THE PARTICIPANT IS TAXED ON THE VESTED AMOUNT. THE KNIGHTS OF COLUMBUS' PLAN PROVIDES THAT UPON VESTING, A PARTICIPANT WILL RECEIVE A PAYMENT FOR THE ESTIMATED INCOME TAXES RELATED TO THE VESTED AMOUNT. THE ABOVE AMOUNTS ARE INCLUDED ON SCHEDULE J, PART II, COLUMN B(III).

SCHEDULE J, PART I:

KNIGHTS OF COLUMBUS PROVIDES TO THE ORGANIZATION A DIRECTOR AND SUPPORT STAFF TO RUN THE DAY-TO-DAY OPERATIONS OF THE SAINT JOHN PAUL II NATIONAL SHRINE. KNIGHTS OF COLUMBUS ALSO PROVIDES ADMINISTRATIVE SUPPORT TO ASSIST WITH THE DAY-TO-DAY OPERATIONS WITHOUT CHARGE THROUGH A SUPPORT AGREEMENT.