Catholic Financial Life Foundation Inc
- Assets
- $2.8m
- Revenue
- $597.9k
- Investments
- $6.4k
- Employees
- 0
- Location
- Milwaukee, WI
- Founding
- 07/2006
- Data as of
- 12/2021
- EIN
- 20-4780760
Organization Overview
Catholic Financial Life Foundation Inc is located in Milwaukee, WI. The organization was established in 2006. According to its NTEE Classification (T30) the organization is classified as: Public Foundations, under the broad grouping of Philanthropy, Voluntarism & Grantmaking Foundations and related organizations. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Catholic Financial Life Foundation 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 12/2021, Catholic Financial Life Foundation Inc generated $597.9k in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 7.0% each year. All expenses for the organization totaled $135.6k during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2016, Catholic Financial Life Foundation Inc has awarded 28 individual grants totaling $777,600. 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
PROVIDE GRANTS TO STUDENTS ATTENDING CATHOLIC EDUCATIONAL INSTITUTIONS AND SUPPORT CHARITABLE OUTREACH AND PHILANTHROPY.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION WAS FORMED TO PROVIDE GRANTS FOR EDUCATIONAL AND RELIGIOUS PURPOSES AS WELL AS FIELD OF INTEREST CAUSES AND CHARITIES. IN 2021, GRANTS TOTALING $107,862 WERE AWARDED.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Borgen John T Vice President | Officer | 4 | $0 |
Riemer Kerry E Treasurer | Officer | 1 | $0 |
O'toole William R Chairman Of The Board | Trustee | 1 | $0 |
O'connell Kristin Director | Trustee | 1 | $0 |
Kremel Richard Director | Trustee | 1 | $0 |
Lloyd Daniel T Director | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $320,625 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $48,860 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $369,485 |
| Total Program Service Revenue | $0 |
| Investment income | $53,048 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $175,328 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $597,861 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $107,862 |
| 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 | $0 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $20,625 |
| Advertising and promotion | $0 |
| Office expenses | $0 |
| 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 | $0 |
| Insurance | $0 |
| All other expenses | $7,141 |
| Total functional expenses | $135,628 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $8,415 |
| Savings and temporary cash investments | $0 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $300,000 |
| 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 | $2,522,795 |
| Investments—other securities | $6,409 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $6,467 |
| Total assets | $2,844,086 |
| Accounts payable and accrued expenses | $0 |
| 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 | $0 |
| Total liabilities | $0 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| Capital stock or trust principal, or current funds | $2,844,086 |
| 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 | $2,844,086 |
Grants Awarded
Over the last fiscal year, Catholic Financial Life Foundation Inc has awarded $86,878 in support to 5 organizations.
| Grant Recipient | Amount |
|---|---|
PARTNERS 4 HOPE TANZANIA PURPOSE: REBUILDING OF CHURCH IN SAME, TANZANIA | $35,000 |
ST JOAN ANTIDA HIGH SCHOOL PURPOSE: CATHOLIC EDUCATION | $20,000 |
Saint Francis, WI PURPOSE: CATHOLIC EDUCATION | $17,866 |
HOLY ANGELS PARISH PURPOSE: CATHOLIC EDUCATION | $8,512 |
Ann Arbor, MI PURPOSE: SEMINARIAN SCHOLARSHIPS | $5,500 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Catholic Financial Life Foundation Inc has recieved totaling $320,625.
| Awarding Organization | Amount |
|---|---|
Catholic Financial Life Milwaukee, WI PURPOSE: Primarily supporting Catholic education | $320,625 |
Endowment Analysis
| Beg. Balance | $2,010,779 |
| Earnings | $197,071 |
| Admin Expense | $5,665 |
| Grants | $89,471 |
| Ending Balance | $2,112,714 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Schuler Education Foundation Lake Forest, IL | $54,673,241 | $7,067,242 |
Thedacare Family Of Foundations Inc Appleton, WI | $89,256,611 | $25,439,996 |
The Hormel Foundation Austin, MN | $1,540,722,314 | $34,366,937 |
Society Of St Vincent De Paul- Twin Cities Minneapolis, MN | $592,562 | $17,408,500 |
Moose Charities Inc Mooseheart, IL | $5,385,966 | $15,548,845 |
Northland Foundation Duluth, MN | $110,895,270 | $27,913,272 |
Communtiy Foundation Of The Holland Zeeland Area Holland, MI | $102,848,837 | $16,439,772 |
Franciscan Sisters Of Chicago Service Corporation Lemont, IL | $62,771,138 | $13,923,865 |
Vela Education Fund Glencoe, IL | $4,855,969 | $13,247,569 |
Comerica Charitable Tr Detroit, MI | $75,789,432 | $13,296,605 |
David Lynch Foundation For Consciousness-Based Education And Fairfield, IA | $9,280,358 | $8,736,448 |
The Wayne And Joan Webber Foundation Clinton Township, MI | $34,958,708 | $9,275,748 |