Foundation To Advance Catholic Education Inc
- Assets
- $7.1m
- Revenue
- $1.5m
- Investments
- $0.0
- Employees
- 0
- Location
- Fall River, MA
- Founding
- 03/1946
- Data as of
- 06/2022
- EIN
- 04-2104895
Organization Overview
Foundation To Advance Catholic Education Inc is located in Fall River, MA. The organization was established in 1946. According to its NTEE Classification (B12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Education and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Foundation To Advance Catholic Education Inc is a 501(c)(3) and as such, is described as a "Charitable or Religous organization or a private foundation" by the IRS.
For the year ending 06/2022, Foundation To Advance Catholic Education Inc generated $1.5m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (8.9%) each year. All expenses for the organization totaled $1.7m during the year ending 06/2022. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Foundation To Advance Catholic Education Inc has awarded 60 individual grants totaling $11,113,112. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2022
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE NEED-BASED SCHOLARSHIPS TO STUDENTS IN SCHOOLS IN THE FALL RIVER DIOCESE
Describe the Organization's Program Activity:
Part 3 - Line 4a
FUNDS EXPENDED SO AS TO BENEFIT STUDENTS OF DIOCESE OF FALL RIVER'S PAROCHIAL SCHOOLS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Most Rev Edgar M Da Cunha Sdv President & Treasurer | OfficerTrustee | 1 | $0 |
Rev David C Frederici Clerk | OfficerTrustee | 1 | $0 |
Rev George C Bellenoit Director | Trustee | 1 | $0 |
Mr Nicholas M Christ Director | Trustee | 1 | $0 |
Mr George Agostini Director | Trustee | 1 | $0 |
Ms Claudine A Cloutier ESQ Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $303,114 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $708,209 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,011,323 |
| Total Program Service Revenue | $0 |
| Investment income | $147,351 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $216,327 |
| Net Income from Fundraising Events | $90,228 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $1,465,233 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,415,079 |
| Grants and other assistance to domestic individuals. | $0 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation of current officers, directors, key employees. | $0 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $0 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $0 |
| Payroll taxes | $0 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $0 |
| Fees for services: Accounting | $11,840 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $25,000 |
| Fees for services: Investment Management | $34,662 |
| Fees for services: Other | $179,353 |
| Advertising and promotion | $385 |
| Office expenses | $14,403 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $0 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $0 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $745 |
| Insurance | $0 |
| All other expenses | $3,840 |
| Total functional expenses | $1,685,307 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $0 |
| Savings and temporary cash investments | $736,204 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $0 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $0 |
| Inventories for sale or use | $0 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $6,355,911 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $21,563 |
| Total assets | $7,113,678 |
| Accounts payable and accrued expenses | $1,430 |
| Grants payable | $0 |
| Deferred revenue | $0 |
| Tax-exempt bond liabilities | $0 |
| Escrow or custodial account liability | $0 |
| Loans and other payables to any current Officer, Director, or Controlling Person | $0 |
| Secured mortgages and notes payable | $0 |
| Unsecured mortgages and notes payable | $0 |
| Other liabilities | $28,473 |
| Total liabilities | $29,903 |
| Net assets without donor restrictions | $2,891,142 |
| Net assets with donor restrictions | $4,192,633 |
| Capital stock or trust principal, or current funds | $0 |
| Paid-in or capital surplus, or land, building, or equipment fund | $0 |
| Retained earnings, endowment, accumulated income, or other funds | $0 |
| Total liabilities and net assets/fund balances | $7,113,678 |
Grants Awarded
Over the last fiscal year, Foundation To Advance Catholic Education Inc has awarded $1,797,239 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
ROMAN CATHOLIC BISHOP OF FALL RIVER PURPOSE: FINANCIAL AID | $1,795,251 |
Fall River, MA PURPOSE: MARKETING AND ENROLLMENT | $1,988 |
Grants Recieved
Over the last fiscal year, we have identified 12 grants that Foundation To Advance Catholic Education Inc has recieved totaling $255,634.
| Awarding Organization | Amount |
|---|---|
Flatley Foundation Braintree, MA PURPOSE: SCHOLARSHIP SUPPORT | $100,000 |
Catholic Foundation Of Southeastern Massachusetts Inc Fall River, MA PURPOSE: GENERAL OPERATIONS | $86,000 |
Yawkey Foundation Ii Dedham, MA PURPOSE: TUITION SCHOLARSHIPS TO ACCESS EDUCATIONAL OPPORTUNITIES | $25,000 |
Rockland Trust Charitable Foundation Rockland, MA PURPOSE: PROGRAM SUPPORT | $10,000 |
Lynch Foundation Boston, MA PURPOSE: SCHOLARSHIP SUPPORT | $10,000 |
Koch Foundation Inc Gainesville, FL PURPOSE: TO SUPPORT TUITION ASSISTANCE | $10,000 |
Endowment Analysis
| Beg. Balance | $4,599,738 |
| Earnings | -$628,674 |
| Net Contributions | $10,212 |
| Other Expense | $133,945 |
| Ending Balance | $3,847,331 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Say Yes Buffalo Scholarship Inc Buffalo, NY | $26,879,466 | $14,014,941 |
The Heckscher Foundation For Children New York, NY | $236,760,119 | $11,760,357 |
United Federation Of Teachers Educational Foundation Inc New York, NY | $18,651,586 | $11,866,585 |
Caroline & Joseph S Gruss Life Monument Funds Inc New York, NY | $48,124,527 | $2,679,769 |
Five Colleges Incorporated Amherst, MA | $34,378,872 | $10,361,692 |
Suny Impact Foundation Inc New York, NY | $1,805,430 | $8,847,404 |
Poughkeepsie Public School Teachers Asso Trust Fund Poughkeepsie, NY | $14,239,734 | $11,580,276 |
Meged Shomayim Airmont, NY | $573,750 | $8,461,954 |
Nli Usa Inc New York, NY | $11,341,396 | $10,639,057 |
Excellence Community Schools Inc Bronx, NY | $14,097,138 | $10,250,785 |
Futures In Education Brooklyn, NY | $11,663,497 | $8,970,011 |
National Center For Hebrew Language Charter School Excellence New York, NY | $4,301,333 | $7,260,290 |