Catholic United Financial
- Assets
- $1.1b
- Revenue
- $64.3m
- Investments
- $96.2m
- Employees
- 121
- Location
- Arden Hills, MN
- Founding
- 12/1940
- Data as of
- 12/2021
- EIN
- 41-0182070
Organization Overview
Catholic United Financial is located in Arden Hills, MN. The organization was established in 1940. According to its NTEE Classification (Y40) the organization is classified as: Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Catholic United Financial employed 121 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Catholic United Financial is a 501(c)(8) and as such, is described as a "Fraternal Beneficiary Society and/or Association" by the IRS.
For the year ending 12/2021, Catholic United Financial generated $64.3m 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 (5.6%) each year. All expenses for the organization totaled $63.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.
Form
990
Mission & Program ActivityExcerpts From the 990 Filing
TAX YEAR
2021
Describe the Organization's Mission:
Part 3 - Line 1
TO PROVIDE OUR MEMBERS WITH LIFE INSURANCE, ANNUITIES AND OTHER PRODUCTS THAT CONTRIBUTE TO THEIR FINANCIAL WELL-BEING AND SUPPORT THE ROMAN CATHOLIC CHURCH IN EXTENDING THE FAITH.
Describe the Organization's Program Activity:
Part 3 - Line 4a
BENEFITS TOTALING $61,598,907 WERE PAID TO OUR MEMBERS IN ACCORDANCE WITH OUR MISSION TO PROVIDE LIFE INSURANCE, ANNUITIES AND OTHER PRODUCTS, SERVICES AND BENEFITS THAT CONTRIBUTE TO THE FINANCIAL WELL-BEING OF OUR MEMBERS AND THEIR FAMILIES. $10,514,576 WAS PAID IN DEATH CLAIMS, $50,940,254 WAS PAID FOR ANNUITY, SUPPLEMENTARY CONTRACT AND OTHER POLICY BENEFITS, AND $144,077 WAS PAID FOR POST-HIGH SCHOOL SCHOLARSHIPS.
IN ACCORDANCE WITH OUR MISSION TO PROMOTE FRATERNALISM AND CHARITY AMONG OUR MEMBERS THROUGH A LOCAL COUNCIL SYSTEM AND REPRESENTATIVE GOVERNANCE, $410,096 WAS PROVIDED TO OUR COUNCILS AND COMMUNITIES. OF THIS AMOUNT, $112,299 WAS SPENT TO CONDUCT OUR TRI ANNUAL CONVENTION AND REGIONAL MEMBER GATHERINGS, $19,653 WAS SPENT ON MEMBER RECOGNITION PROGRAMS AND CONDUCTING GATHER4GOOD EVENTS. GATHER4GOOD IS A VOLUNTEER, FAMILY ORIENTED SERVICE PROJECT STARTED IN 2010 TO ASSEMBLE PERSONAL CARE KITS FOR PEOPLE IN THE LOCAL COMMUNITY EXPERIENCING HOMELESSNESS.
IN ACCORDANCE WITH OUR MISSION TO SUPPORT THE ROMAN CATHOLIC CHURCH IN EXTENDING THE FAITH, COMMENDING AND ENCOURAGING CATHOLIC SCHOOLS AND RELIGIOUS EDUCATION, FRATERNAL BENEFITS TOTALING $447,620 WERE SPENT DURING THE YEAR. OF THIS TOTAL, $91,923 WAS PROVIDED TO CATHOLIC DIOCESES AND PARISHES, $7,500 WAS GRANTED TO ORGANIZATIONS SUPPORTIVE OF EXTENDING CATHOLIC TEACHINGS, $182,659 WAS SPENT AS OPERATING SUPPORT FOR OUR FOUNDATION, AND $165,538 WAS SPENT SUPPORTING CATHOLIC EDUCATION, INCLUDING THE ANNUAL CATHOLIC SCHOOLS RAFFLE. THIS RAFFLE HAS RAISED ALMOST $12 MILLION FOR OVER 100 CATHOLIC SCHOOLS SINCE ITS INCEPTION THIRTEEN YEARS AGO.
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PDF Copies of 990 Filings
Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Michael Ahles President/chairman | Officer | 37.5 | $379,798 |
Paul Zastrow Sr. Vp, Secretary/treasurer | Officer | 37.5 | $320,833 |
Patrick Brown Regional Sales Manager | 37.5 | $218,423 | |
John Tetzloff Director Of Sales | 37.5 | $208,946 | |
Dean Demarais Sales Rep | 37.5 | $199,053 | |
John Kolojziejczyk Director Of Information Systems | 37.5 | $152,841 |
Outside Vendors & Contractors
| Vendor Name (Service) | Service Year | Compensation |
|---|---|---|
Securian Asset Management Investment Advisory | 12/30/21 | $424,056 |
Miller & Newberg Actuarial And Consulting Services | 12/30/21 | $301,681 |
Lenore Beilke Consulting Services | 12/30/21 | $280,970 |
Bonsai Llc Consulting Services | 12/30/21 | $271,868 |
Kelly Bretz Llc Enterprise Risk Management Consulting Services | 12/30/21 | $270,608 |
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 | $0 |
| Noncash contributions included in lines 1a–1f | $0 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $0 |
| Total Program Service Revenue | $44,030,093 |
| Investment income | $12,709,656 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $61,991 |
| Net Gain/Loss on Asset Sales | $2,234,832 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $64,273,025 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $418,870 |
| Grants and other assistance to domestic individuals. | $186,177 |
| Grants and other assistance to Foreign Orgs/Individuals | $0 |
| Benefits paid to or for members | $61,451,830 |
| Compensation of current officers, directors, key employees. | $924,603 |
| Compensation of current officers, directors, key employees. | $924,603 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $3,953,018 |
| Pension plan accruals and contributions | $875,555 |
| Other employee benefits | $1,070,456 |
| Payroll taxes | $521,885 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $119,693 |
| Fees for services: Accounting | $468,802 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $809,530 |
| Fees for services: Other | $1,638,950 |
| Advertising and promotion | $248,855 |
| Office expenses | $351,020 |
| Information technology | $457,598 |
| Royalties | $0 |
| Occupancy | $301,468 |
| Travel | $97,767 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $126,558 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $413,344 |
| Insurance | $140,068 |
| All other expenses | $20,535 |
| Total functional expenses | $63,814,163 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $3,918,030 |
| Savings and temporary cash investments | $20,396,358 |
| Pledges and grants receivable | $0 |
| Accounts receivable, net | $4,877 |
| Loans from Officers, Directors, or Controlling Persons | $0 |
| Loans from Disqualified Persons | $0 |
| Notes and loans receivable | $4,525,409 |
| Inventories for sale or use | $3,453,564 |
| Prepaid expenses and deferred charges | $0 |
| Net Land, buildings, and equipment | $1,369,498 |
| Investments—publicly traded securities | $921,702,111 |
| Investments—other securities | $96,202,581 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $9,109,932 |
| Total assets | $1,060,682,360 |
| Accounts payable and accrued expenses | $1,561,402 |
| 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 | $1,022,592,179 |
| Total liabilities | $1,024,153,581 |
| Net assets without donor restrictions | $0 |
| Net assets with donor restrictions | $0 |
| 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 | $36,528,779 |
| Total liabilities and net assets/fund balances | $1,060,682,360 |
Grants Awarded
Over the last fiscal year, Catholic United Financial has awarded $60,000 in support to 2 organizations.
| Grant Recipient | Amount |
|---|---|
Minneapolis, MN PURPOSE: Catholic Education | $40,000 |
Perham, MN PURPOSE: Catholic Education | $20,000 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Catholic United Financial has recieved totaling $141,263.
| Awarding Organization | Amount |
|---|---|
Catholic United Financial Foundation St Paul, MN PURPOSE: OPERATIONAL SUPPORT | $140,263 |
Chase Family Foundation Burnsville, MN PURPOSE: RELIGIOUS | $1,000 |
Endowment Analysis
| Beg. Balance | $2,978,986 |
| Earnings | -$32,667 |
| Net Contributions | $229,307 |
| Other Expense | $140,421 |
| Ending Balance | $3,035,205 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Catholic United Financial Arden Hills, MN | $1,060,682,360 | $64,273,025 |
Western Fraternal Life Association Madison, WI | $648,970,346 | $59,441,063 |
Sons Of Norway Minneapolis, MN | $334,895,080 | $46,264,264 |
National Mutual Benefit Madison, WI | $0 | $36,708,977 |
Fraternal Order Of Eagles Dickinson, ND | $2,078,420 | $1,416,789 |
Minnesota Masonic Childrens Clinic For Communication Disorders Bloomington, MN | $4,797,538 | $1,129,457 |
Benevolent & Protective Order Of Elks Of The Usa Bismarck, ND | $6,824,814 | $1,569,133 |
El Riad Shriners Sioux Falls, SD | $6,173,063 | $673,721 |
Knights Fraternal Corporation Of Bloomington Bloomington, MN | $363,241 | $931,289 |
Ancient & Accepted Scottish Rite Of Free Masonry So Juris Of Usa Des Moines, IA | $4,783,418 | $494,496 |
Benevolent & Protective Order Of Elks Of The Usa Mukwonago, WI | $355,590 | $423,234 |
Ancient Accepted Scottish Rite Of Free Masonry Nmj Wauwatosa, WI | $7,447,880 | $192,278 |