Catholic United Financial Foundation
- Assets
- $42.4m
- Revenue
- $9.7m
- Investments
- $0.0
- Employees
- 0
- Location
- St Paul, MN
- Founding
- 06/1999
- Data as of
- 12/2022
- EIN
- 41-1893463
Organization Overview
Catholic United Financial Foundation is located in St Paul, MN. The organization was established in 1999. According to its NTEE Classification (T12) the organization is classified as: Fund Raising & Fund Distribution, 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 United Financial Foundation 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 12/2022, Catholic United Financial Foundation generated $9.7m in total revenue. This represents relatively stable growth, over the past 8 years the organization has increased revenue by an average of 6.6% each year. All expenses for the organization totaled $3.7m during the year ending 12/2022. While expenses have increased by 15.2% 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 2014, Catholic United Financial Foundation has awarded 231 individual grants totaling $10,964,495. 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 SUPPORT FINANCIALLY THE SPIRITUAL, EDUCATIONAL AND SOCIAL NEEDS OF THE CATHOLIC COMMUNITY WHERE CATHOLIC UNITED FINANCIAL HAS A MAJOR PRESENCE.
Describe the Organization's Program Activity:
Part 3 - Line 4a
IN 2022, THE FOUNDATION GRANT PROGRAM PROVIDED 138 GRANTS TO CATHOLIC SCHOOLS AND PARISHES FOR TECHNOLOGY AND CHASTITY & ABSTINENCE PROGRAMS AMOUNTING TO $79,353. SINCE 2001, MORE THAN $1.2 MILLION HAS BEEN AWARDED IN THROUGH MORE THAN 2,260 GRANTS TO CATHOLIC SCHOOLS, PARISHES, AND RELIGIOUS EDUCATION PROGRAMS. THE FOUNDATION'S SCHULER SEMINARIAN FUND PROVIDED 171 SEMINARIANS WITH $68,900 IN SCHOLARSHIP SUPPORT TO AID IN THEIR CONTINUING EDUCATION TOWARDS BECOMING A PRIEST. SINCE 1998, MORE THAN $1 MILLION HAS BEEN AWARDED TO SEMINARIANS PURSUING THEIR CALLING TOWARDS ORDINATION. THE FOUNDATION'S CATHOLIC UNITED DISASTER RESPONSE ASSISTS VICTIMS FROM NATURAL DISASTERS. THE DISASTER RESPONSE PROGRAM HAS PROVIDED EDUCATION AND SUPPORT FOR VARIOUS COMMUNITY MEMBERS AND ORGANIZATIONS SO THAT THEY WILL BE ABLE TO ASSIST THEMSELVES AND OTHERS IN NEED FOLLOWING NATURAL DISASTERS. THE DISASTER RELIEF PROGRAM IS TAKING THE PLACE OF THIS RESPONSE ACTIVITIES WHERE WE WILL CONTINUE PROVIDING FINANCIAL SUPPORT TO ALL PEOPLE IN NEED DUE TO NATURAL DISASTERS REGARDLESS OF RACE, CREED AND/OR RELIGION. THE FOUNDATION ALSO PROVIDES CHARITABLE GIFT ANNUITIES, DONOR ADVISED FUNDS, CHARITABLE DEFERRED ANNUITIES, AND CHARITABLE LIFE INSURANCE TO CATHOLIC UNITED FINANCIAL MEMBERS. THE FOUNDATION MATCHES THE MEMBERS' GIVING AND THEIR FINANCES, INTEGRATING GIVING INTO THEIR OVERALL FINANCIAL STRATEGY WHILE ENSURING THEY CAN ACHIEVE THEIR CHARITABLE GOALS THROUGH SOUND, CONSERVATIVE FISCAL MANAGEMENT. THE FOUNDATION ALSO OFFERS ORGANIZATIONAL ADVISED FUNDS TO ASSIST PARISHES AND CEMETERIES WITH THEIR LONG TERM AND ENDOWMENT MANAGEMENT AND INVESTMENT NEEDS. THE PROGRAM GRANTS AND DISTRIBUTIONS FROM THESE EFFORTS PROVIDED ALMOST $3.4 MILLION IN SUPPORT OF CHARITABLE ORGANIZATIONS, CHURCHES AND SCHOOLS ACROSS THE UPPER MIDWEST IN 2022.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Robert Heuermann Executive Director | Officer | 37.5 | $0 |
Michael Ahles President | OfficerTrustee | 1 | $0 |
Paul Zastrow Sr. Vp/sec/treasurer | OfficerTrustee | 1 | $0 |
Harald E Borrmann Board Member | Trustee | 1 | $0 |
Jean Hart Board Member | Trustee | 1 | $0 |
William Lucas Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $38,564 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $8,918,285 |
| Noncash contributions included in lines 1a–1f | $264,658 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $8,956,849 |
| Total Program Service Revenue | $0 |
| Investment income | $534,576 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $150,127 |
| Net Income from Fundraising Events | $28,407 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,669,959 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $3,201,762 |
| Grants and other assistance to domestic individuals. | $68,900 |
| 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 | $15,800 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $550 |
| Advertising and promotion | $19,861 |
| Office expenses | $1,814 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $4,654 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $951 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,713 |
| Total functional expenses | $3,744,620 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $4,803,732 |
| Savings and temporary cash investments | $122,828 |
| 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 | $7,571,521 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,863,145 |
| Total assets | $42,361,226 |
| 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 | $172,845 |
| Total liabilities | $172,845 |
| Net assets without donor restrictions | $2,289,696 |
| Net assets with donor restrictions | $39,898,685 |
| 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 | $42,361,226 |
Grants Awarded
Over the last fiscal year, Catholic United Financial Foundation has awarded $3,130,097 in support to 49 organizations.
| Grant Recipient | Amount |
|---|---|
ST JOSEPH CATHOLIC CHURCH - CROSBY PURPOSE: ORGANIZATIONAL SUPPORT | $714,076 |
CATHEDRAL OF OUR LADY OF PERPETUAL HELP PURPOSE: ORGANIZATIONAL SUPPORT | $325,000 |
CATHOLIC FOUNDATION OF SOUTHERN MINNESOTA PURPOSE: ORGANIZATIONAL SUPPORT | $224,521 |
CHURCH OF ST HENRY PURPOSE: MAINTENANCE | $131,625 |
CATHOLIC UNITED FINANCIAL FOUNDATION PURPOSE: ORGANIZATIONAL SUPPORT | $130,039 |
SACRED HEART CHURCH - MURDOCK PURPOSE: PARISH SUPPORT | $130,216 |