Foundations In Faith Inc
- Assets
- $29.5m
- Revenue
- $3.1m
- Investments
- $1.5k
- Employees
- 0
- Location
- Bridgeport, CT
- Founding
- 03/1946
- Data as of
- 06/2021
- EIN
- 06-1448345
Organization Overview
Foundations In Faith Inc is located in Bridgeport, CT. The organization was established in 1946. According to its NTEE Classification (X22) the organization is classified as: Roman Catholic, under the broad grouping of Religion-Related and related organizations. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Foundations In Faith 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 06/2021, Foundations In Faith Inc generated $3.1m in total revenue. This represents relatively stable growth, over the past 6 years the organization has increased revenue by an average of 2.2% each year. All expenses for the organization totaled $5.0m during the year ending 06/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Foundations In Faith Inc has awarded 74 individual grants totaling $9,819,722. 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
2021
Describe the Organization's Mission:
Part 3 - Line 1
SUPPORT CATHOLIC EDUCATION, VOCATION, AND SEMINARY EDUCATION, PRIESTS' RESIDENCE AND RETIREMENT FUND AND DIOCESAN MINISTRIES AND PROGRAMS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
SUPPORT CATHOLIC EDUCATION, VOCATION, AND SEMINARY EDUCATION, PRIESTS' RESIDENCE AND RETIREMENT FUND AND DIOCESAN MINISTRIES AND PROGRAMS.
PROVIDE RESOURCES TO BUILD LONG-TERM SUSTAINABLE PARISHES WITH VIBRANT AND GROWING MINISTRIES
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Anne O Mccrory Secretary | OfficerTrustee | 1 | $0 |
Michael Hanlon Treasurer & Cao | OfficerTrustee | 1 | $0 |
Kelly Weldon Executive Director | OfficerTrustee | 40 | $0 |
Andy Aoyama Chairman & President | OfficerTrustee | 1 | $0 |
Joseph Sindelar Vice President | OfficerTrustee | 1 | $0 |
Bishop Frank J Caggiano Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $710,667 |
| Noncash contributions included in lines 1a–1f | $12,810 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $710,667 |
| Total Program Service Revenue | $0 |
| Investment income | $823,878 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,594,770 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,129,315 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,647,614 |
| 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 | $28,348 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $13,685 |
| Fees for services: Other | $20,000 |
| Advertising and promotion | $0 |
| Office expenses | $1,597 |
| Information technology | $1,048 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $4,961,910 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $1,562,333 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $4,201,165 |
| 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 | $23,749,751 |
| Investments—other securities | $1,495 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $29,514,744 |
| Accounts payable and accrued expenses | $6,395 |
| Grants payable | $680,500 |
| 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 | $456,553 |
| Total liabilities | $1,143,448 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $28,371,296 |
| 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 | $29,514,744 |
Grants Awarded
Over the last fiscal year, Foundations In Faith Inc has awarded $2,620,614 in support to 21 organizations.
| Grant Recipient | Amount |
|---|---|
Stamford, CT PURPOSE: Program Support | $1,603,852 |
Bridgeport, CT PURPOSE: Program support | $350,000 |
Bridgeport, CT PURPOSE: Program Support | $140,000 |
Bridgeport, CT PURPOSE: Program Support | $69,725 |
Bridgeport, CT PURPOSE: Program Support | $55,000 |
Stamford, CT PURPOSE: Program support | $50,000 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Foundations In Faith Inc has recieved totaling $234,053.
| Awarding Organization | Amount |
|---|---|
We Stand With Christ Inc Bridgeport, CT PURPOSE: Program Support | $234,053 |
Endowment Analysis
| Beg. Balance | $25,629,360 |
| Earnings | $6,187,841 |
| Admin Expense | $42,388 |
| Net Contributions | $359,913 |
| Other Expense | $3,583,425 |
| Grants | $2,667,614 |
| Ending Balance | $25,883,687 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Woodlawn Foundation New Rochelle, NY | $58,943,273 | $25,049,674 |
Catholic Charities Of Fairfield Bridgeport, CT | $9,651,392 | $11,217,776 |
Community Association Of Progressive Dominicans Inc New York, NY | $3,345,960 | $6,118,311 |
Society Of St Vincent De Paul In The Archdiocese Of Boston Inc Stoughton, MA | $14,459,247 | $5,990,877 |
Padre Pio Foundation Of America Inc Cromwell, CT | $9,995,841 | $8,304,771 |
Foundations In Faith Inc Bridgeport, CT | $29,514,744 | $3,129,315 |
Murray Hill Place Inc New York, NY | $43,211,368 | $5,022,335 |
Catholic Migration Services Inc Brooklyn, NY | $5,700,505 | $6,076,447 |
Riverside Study Center Inc New York, NY | $14,243,524 | $2,424,338 |
Walking With Purpose Inc Greenwich, CT | $1,412,300 | $2,502,751 |
Catholic Foundation Of Southeastern Massachusetts Inc Fall River, MA | $2,839,964 | $2,808,614 |
Sisters Of The Adoration Corp Danielson, CT | $1,846,756 | $1,811,339 |