Catholic Schools Foundation Inc
- Assets
- $129.8m
- Revenue
- $29.9m
- Investments
- $3.2m
- Employees
- 10
- Location
- Boston, MA
- Founding
- 10/1984
- Data as of
- 06/2023
- EIN
- 22-2485502
Organization Overview
Catholic Schools Foundation Inc is located in Boston, MA. The organization was established in 1984. According to its NTEE Classification (B82) the organization is classified as: Scholarships & Student Financial Aid, under the broad grouping of Education and related organizations. As of 06/2023, Catholic Schools Foundation Inc employed 10 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Catholic Schools 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 06/2023, Catholic Schools Foundation Inc generated $29.9m in total revenue. This organization has experienced exceptional growth, as over the past 8 years, it has increased revenue by an average of 14.1% each year . All expenses for the organization totaled $19.2m during the year ending 06/2023. While expenses have increased by 7.3% per year over the past 8 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.
Since 2015, Catholic Schools Foundation Inc has awarded 341 individual grants totaling $50,482,454. 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
2023
Describe the Organization's Mission:
Part 3 - Line 1
THE CATHOLIC SCHOOLS FOUNDATION CHANGES LIVES BY PROVIDING FAMILIES WITH DEMONSTRATED FINANCIAL NEED AN OPPORTUNITY TO GIVE THIER SONS AND DAUGHTERS A QUALITY EDUCATION, FOCUSED ON CHRISTIAN VALUES AND CHARACTER FORMATION AT CATHOLIC SCHOOLS LOCATED THROUGHOUT THE ARCHDIOCESE OF BOSTON, REGARDLESS OF RACE, RELIGION, ETHNICITY OR GENDER.
Describe the Organization's Program Activity:
Part 3 - Line 4a
3,505 SCHOLARSHIPS AWARDED TO STUDENTS TO ATTEND CATHOLIC SCHOOLS WITHIN THE ARCHDIOCESE OF BOSTON AS WELL AS FOR PROGRAMS TO SUPPORT SCHOLARSHIP RECIPIENTS.
NON-SCHOLARSHIP PROGRAM GRANTS TO SUPPORT SCHOOL GROWTH AND SUSTAINABILITY, INCLUDING INITIATIVES FOR MARKETING, TECHNOLOGY, LEADERSHIP, COUNSELING, COLLEGE READINESS, REGIONAL PARTNERSHIPS AND ENRICHMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Sean Cardinal O'malley Chairman | OfficerTrustee | 0.1 | $0 |
Michael Rogers President | OfficerTrustee | 8 | $0 |
James Mooney III Senior Vice President | OfficerTrustee | 3 | $0 |
Christine Komola Vice President | OfficerTrustee | 3 | $0 |
Thomas Corra Treasurer | OfficerTrustee | 3 | $0 |
Christopher Remondi Clerk | OfficerTrustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $3,928,393 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $22,426,837 |
| Noncash contributions included in lines 1a–1f | $186,514 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $26,355,230 |
| Total Program Service Revenue | $0 |
| Investment income | $2,050,607 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $1,937,458 |
| Net Income from Fundraising Events | -$402,240 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $29,941,055 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $17,416,137 |
| 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. | $302,205 |
| Compensation of current officers, directors, key employees. | $30,220 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $725,437 |
| Pension plan accruals and contributions | $32,570 |
| Other employee benefits | $57,011 |
| Payroll taxes | $67,879 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $2,360 |
| Fees for services: Accounting | $88,641 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $38,700 |
| Advertising and promotion | $35,824 |
| Office expenses | $134,726 |
| Information technology | $30,141 |
| Royalties | $0 |
| Occupancy | $154,655 |
| Travel | $12,222 |
| 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 | $5,247 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $19,165,786 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $42,664 |
| Savings and temporary cash investments | $3,259,349 |
| Pledges and grants receivable | $2,378,033 |
| 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 | $56,264 |
| Net Land, buildings, and equipment | $8,728 |
| Investments—publicly traded securities | $120,614,932 |
| Investments—other securities | $3,169,704 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $250,219 |
| Total assets | $129,779,893 |
| Accounts payable and accrued expenses | $72,953 |
| Grants payable | $16,064,159 |
| 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 | $276,967 |
| Total liabilities | $16,414,079 |
| Net assets without donor restrictions | $39,517,689 |
| Net assets with donor restrictions | $73,848,125 |
| 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 | $129,779,893 |
Grants Awarded
Over the last fiscal year, Catholic Schools Foundation Inc has awarded $15,345,895 in support to 82 organizations.
| Grant Recipient | Amount |
|---|---|
ACADEMY OF NOTRE DAME ELEMENTARY SCHOOL TYNGSBORO PURPOSE: SCHOLARSHIP SUPPORT | $36,040 |
ACADEMY OF NOTRE DAME HIGH SCHOOL TYNGSBORO PURPOSE: SCHOLARSHIP SUPPORT | $35,000 |
ARCHBISHOP WILLIAMS HIGH SCHOOL BRAINTREE PURPOSE: SCHOLARSHIP SUPPORT | $93,000 |
BELLESINI ACADEMY LAWRENCE PURPOSE: SCHOLARSHIP SUPPORT | $75,000 |
ARLINGTON CATHOLIC HIGH SCHOOL ARLINGTON PURPOSE: SCHOLARSHIP SUPPORT | $110,000 |
BISHOP FENWICK HIGH SCHOOL PEABODY PURPOSE: SCHOLARSHIP SUPPORT | $135,000 |