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Nonprofiteer
← CATHOLIC EDUCATION FOUNDATION INC

Form 990 for tax year 2023

Filed by CATHOLIC EDUCATION FOUNDATION INC.

Totals

Total revenue
$11,014,826
Total expenses
$6,906,854
Contributions and grants received
$10,268,124
Grants paid
$5,028,225
Program service revenue
$0
Investment income
$557,214
Other revenue
$189,488
Total assets, end of year
$49,582,194
Total liabilities, end of year
$361,041
Net assets or fund balances, end of year
$49,221,153
Program services expenses (Part IX)
$5,238,861
Management and general expenses
$507,702
Fundraising expenses
$1,160,291
Program service expenses (Part III)
$5,238,861

Program services were 75.9% 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

    $2,449,618

  • 1d · Related organizations

    $645,000

  • 1f · All other contributions, gifts and grants

    $7,173,506

  • 1g · Noncash contributions included above

    $3,570,485

  • 3 · Investment income

    total $577,964 · excluded $577,964

  • 7a · Gross sales of assets other than inventory

    securities $1,764,233

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

    securities $1,784,983

  • 7c · Gain or loss

    securities -$20,750

  • 7d · Net gain or loss

    total -$20,750 · excluded -$20,750

  • 8a · Fundraising events: gross income

    $182,459

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

    $2,449,618

  • 8b · Fundraising events: direct expenses

    $428,392

  • 8c · Net income from fundraising events

    total -$245,933 · excluded -$245,933

  • 9a · Gaming: gross income

    $938,375

  • 9b · Gaming: direct expenses

    $502,954

  • 9c · Net income from gaming

    total $435,421 · excluded $435,421

Functional expenses

Part IX, the statement of functional expenses.

  • 1 · Grants to domestic organizations and governments

    total $4,938,225 · program services $4,938,225

  • 2 · Grants to domestic individuals

    total $90,000 · program services $90,000

  • 5 · Compensation of officers, directors and key employees

    total $540,675 · program services $82,650 · management and general $85,739 · fundraising $372,286

  • 7 · Other salaries and wages

    total $643,223 · program services $98,326 · management and general $102,001 · fundraising $442,896

  • 8 · Pension plan contributions

    total $41,440 · program services $6,335 · management and general $6,571 · fundraising $28,534

  • 9 · Other employee benefits

    total $41,580 · program services $6,356 · management and general $6,594 · fundraising $28,630

  • 10 · Payroll taxes

    total $74,183 · program services $11,340 · management and general $11,764 · fundraising $51,079

  • 11b · Fees: legal

    total $15,000 · program services $1,438 · management and general $3,007 · fundraising $10,555

  • 11f · Fees: investment management

    total $137,891 · management and general $137,891

  • 11g · Fees: other

    total $43,712 · program services $4,191 · management and general $8,762 · fundraising $30,759

  • 12 · Advertising and promotion

    total $136,561 · fundraising $136,561

  • 13 · Office expenses

    total $44,946 · management and general $44,946

  • 14 · Information technology

    total $27,695 · management and general $27,695

  • 16 · Occupancy

    total $36,916 · management and general $36,916

  • 17 · Travel

    total $2,424 · management and general $981 · fundraising $1,443

  • 19 · Conferences, conventions and meetings

    total $6,804 · management and general $6,804

  • 22 · Depreciation, depletion and amortization

    total $24,224 · management and general $9,802 · fundraising $14,422

  • 23 · Insurance

    total $10,292 · management and general $10,292

  • 24a · Other expenses: NEWSLETTER AND ANNUAL R

    total $31,448 · fundraising $31,448

  • 24b · Other expenses: ENTERTAINMENT

    total $13,995 · management and general $5,663 · fundraising $8,332

  • 24c · Other expenses: AWARDS

    total $2,134 · management and general $863 · fundraising $1,271

  • 24e · All other expenses

    total $3,486 · management and general $1,411 · fundraising $2,075

Balance sheet

Part X, book values.

  • 1 · Cash, non-interest-bearing

    beginning of year $214,159 · end of year $424,041

  • 2 · Savings and temporary cash investments

    beginning of year $3,444,144 · end of year $8,498,201

  • 3 · Pledges and grants receivable

    beginning of year $9,351,507 · end of year $8,851,523

  • 4 · Accounts receivable

    beginning of year $49,160 · end of year $41,549

  • 9 · Prepaid expenses and deferred charges

    beginning of year $37,213 · end of year $24,973

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

    $221,287

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

    $104,622

  • 10c · Land, buildings and equipment, net

    beginning of year $132,819 · end of year $116,665

  • 11 · Investments: publicly traded securities

    beginning of year $27,065,478 · end of year $31,625,242

  • 17 · Accounts payable and accrued expenses

    beginning of year $298,352 · end of year $361,041

  • 27 · Net assets without donor restrictions

    beginning of year $3,418,772 · end of year $5,168,520

  • 28 · Net assets with donor restrictions

    beginning of year $36,577,356 · end of year $44,052,633

Mission and programs · 2023

Mission

THE CATHOLIC EDUCATION FOUNDATION IS DEDICATED TO THE GROWTH AND VITALITY OF CATHOLIC EDUCATION IN THE ARCHDIOCESE OF LOUISVILLE. THE FOUNDATION ADVANCES ITS MISSION PRIMARILY THROUGH TUITION ASSISTANCE GRANTS TO FAMILIES WHO CANNOT AFFORD THE FULL COST OF TUITION IN CATHOLIC ELEMENTARY SCHOOLS IN CENTRAL KENTUCKY.

Activities or mission (Part I)

TO PROMOTE THE GROWTH AND VITALITY OF CATHOLIC EDUCATION IN THE ARCHDIOCESE OF LOUISVILLE.

  • GRANTS WERE PROVIDED FOR TUITION ASSISTANCE TO CATHOLIC SCHOOL FAMILIES, TECHNOLOGY ENHANCEMENTS AT PARISHES AND SCHOOLS, PROFESSIONAL DEVELOPMENT OF FACULTY AND STAFF, AND RELIGIOUS EDUCATION PROGRAMS.

    Expenses $5,238,861 · Grants $5,028,225

As filed on the 2023 return. The filer continues this part on Schedule O, which is not shown here.

Listed in Part VII

  • TODD A KLIMEK

    CHAIRMAN

    Total calculated
    $0
    Hours/week
    3

  • MOST REV SHELTON J FABRE

    VICE-CHAIRMAN

    Total calculated
    $0
    Hours/week
    1

  • JANE C MORREAU

    TREASURER

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH L LANDENWICH

    SECRETARY/CHAIR-ELECT

    Total calculated
    $0
    Hours/week
    3

  • CHRISTOPHER J REID

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DOUGLAS J ABELL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • ROBERT D CECIL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN C JAMES

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DIANE M GAHAFER

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR MARY BETH BOWLING

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • DR VALERIE F BRIONES-PRYOR

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MATTHEW W OTT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • THOMAS A PERRONE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • STEPHEN D SAUTEL III

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHARLOTTE K STENGEL

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • CHAD E DOBSON

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JOSEPH W DOUGHERTY

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • MARK W RAQUE

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • JENNIFER M STINNETT

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • VERY REV ANTHONY L CHANDLER KCHS

    DIRECTOR

    Total calculated
    $0
    Hours/week
    1

  • REV SHAYNE R DUVALL

    DIRECTOR (TERM BEG 07/23)

    Total calculated
    $0
    Hours/week
    1

  • MARY B EWING

    DIRECTOR (TERM BEG 07/23)

    Total calculated
    $0
    Hours/week
    1

  • JAMES J KIRCHDORFER JR

    DIRECTOR (TERM BEG 07/23)

    Total calculated
    $0
    Hours/week
    1

  • BRADLEY A SAVKO

    DIRECTOR (TERM BEG 07/23)

    Total calculated
    $0
    Hours/week
    1

  • VERY REV T MICHAEL TOBIN VF

    DIRECTOR (TERM BEG 11/23)

    Total calculated
    $0
    Hours/week
    1

  • JAMES A HILLEBRAND

    DIRECTOR (TERM BEG 07/23)

    Total calculated
    $0
    Hours/week
    1

  • RICHARD A LECHLEITER

    PRESIDENT

    Total calculated
    $327,027
    From this org
    $298,874
    From related orgs
    $0
    Other
    $28,153
    Hours/week
    60

    Schedule J breakdown matched by us

    Base
    $298,874
    Bonus
    $0
    Other
    $0
    Deferred
    $20,921
    Nontaxable benefits
    $7,232
    Filer's total
    $327,027

  • JULIE E BAUM

    VICE PRESIDENT

    Total calculated
    $248,325
    From this org
    $225,321
    From related orgs
    $0
    Other
    $23,004
    Hours/week
    50

    Schedule J breakdown matched by us

    Base
    $175,321
    Bonus
    $50,000
    Other
    $0
    Deferred
    $15,772
    Nontaxable benefits
    $7,232
    Filer's total
    $248,325

  • GIL A WENTZEL

    DIRECTOR OF FINANCE

    Total calculated
    $146,537
    From this org
    $136,950
    From related orgs
    $0
    Other
    $9,587
    Hours/week
    45

  • MICHELLE DOHRMAN

    DIRECTOR OF TUITION ASSISTANCE

    Total calculated
    $115,716
    From this org
    $101,387
    From related orgs
    $0
    Other
    $14,329
    Hours/week
    45

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

  • 3 · Compensation committee
  • 3 · Form 990 of other organizations
  • 3 · Compensation survey or study
  • 3 · Approval by the board or compensation committee
  • 5a · Pay contingent on this organization's revenues

Answered no

  • 4a · Severance or change-of-control payment
  • 4b · Supplemental nonqualified retirement plan
  • 4c · Equity-based compensation arrangement
  • 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

The filer's explanations (Part III)

PART I, LINE 5
IF CERTAIN FINANCIAL TARGETS ARE ACHIEVED, A BONUS IS ACCRUED AT THE END OF THE FISCAL YEAR FOR THE FOUNDATION STAFF OTHER THAN THE FOUNDATION PRESIDENT.
SCHEDULE J, PART II
BONUSES ARE DETERMINED BY THE NOMINATING AND GOVERNANCE COMMITTEE OF THE BOARD OF DIRECTORS. THEY ARE BASED ON PERFORMANCE COMPARED TO PRE-ESTABLISHED TARGET MEASURES.

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

The 10 largest by cash amount. The API serves every itemized grant.

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
2023
Filed
29 January 2025
IRS schema version
2023v6.0
Source object
202540299349301614

Check it against the return as filed: the GivingTuesday Data Lake hosts a public copy of the original XML.

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