Catholic United Financial Foundation
- Assets
- $37.5m
- Revenue
- $6.0m
- Investments
- $0.0
- Employees
- 0
- Location
- St Paul, MN
- Founding
- 06/1999
- Data as of
- 12/2021
- 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 12/2021, Catholic United Financial Foundation generated $6.0m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 0.6% each year. All expenses for the organization totaled $3.2m during the year ending 12/2021. You can explore the organizations financials more deeply in the financial statements section below.
Since 2014, Catholic United Financial Foundation has awarded 182 individual grants totaling $7,834,398. 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
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 2021, THE FOUNDATION GRANT PROGRAM PROVIDED 150 GRANTS TO CATHOLIC SCHOOLS AND PARISHES FOR TECHNOLOGY AND CHASTITY & ABSTINENCE PROGRAMS AMOUNTING TO $94,579. THE FOUNDATION'S SCHULER SEMINARIAN FUND PROVIDED 176 SEMINARIANS WITH $71,400 IN SCHOLARSHIP SUPPORT TO AID IN THEIR CONTINUING EDUCATION TOWARDS BECOMING A PRIEST. THE FOUNDATION'S CATHOLIC UNITED DISASTER RESPONSE ASSISTS VICTIMS FROM NATURAL DISASTERS. THE DISASTER RESPONSE PROGRAM 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. A TRAILER EQUIPPED WITH THE TOOLS AND EQUIPMENT NECESSARY TO ASSIST WITH CLEAN UP AND RECOVERY AFTER DISASTERS WAS DEPLOYED PROVIDING US THE ABILITY TO SERVE ALL PEOPLE IN NEED 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 $2.9 MILLION IN SUPPORT OF CHARITABLE ORGANIZATIONS, CHURCHES AND SCHOOLS ACROSS THE UPPER MIDWEST IN 2021.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Paul Zastrow Sr Vice President/sec-Treasurer | OfficerTrustee | 1 | $0 |
Michael Ahles President | OfficerTrustee | 1 | $0 |
Robert Heuermann Executive Director | Officer | 40 | $0 |
Harald E Borrmann Board Member | Trustee | 1 | $0 |
William Lucas Board Member | Trustee | 1 | $0 |
Jean Hart Board Member | Trustee | 1 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $25,950 |
| Related organizations | $0 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $5,232,689 |
| Noncash contributions included in lines 1a–1f | $234,101 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $5,258,639 |
| Total Program Service Revenue | $0 |
| Investment income | $463,509 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $278,170 |
| Net Income from Fundraising Events | $20,704 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $6,021,022 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,690,527 |
| Grants and other assistance to domestic individuals. | $71,400 |
| 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 | $16,495 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $0 |
| Fees for services: Other | $1,155 |
| Advertising and promotion | $5,490 |
| Office expenses | $12,706 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $6,440 |
| Travel | $2,511 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $16,322 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $0 |
| All other expenses | $1,640 |
| Total functional expenses | $3,201,210 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $370,392 |
| Savings and temporary cash investments | $67,663 |
| Pledges and grants receivable | $369,000 |
| 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 | $7,597,869 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $29,081,110 |
| Total assets | $37,486,034 |
| 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 | $165,848 |
| Total liabilities | $165,848 |
| Net assets without donor restrictions | $1,725,891 |
| Net assets with donor restrictions | $35,594,295 |
| 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 | $37,486,034 |
Grants Awarded
Over the last fiscal year, Catholic United Financial Foundation has awarded $2,441,243 in support to 24 organizations.
| Grant Recipient | Amount |
|---|---|
ST HENRY RENOVATION FUND PURPOSE: PARISH SUPPORT | $1,521,026 |
ST ANNE'S CHURCH-WABASSO PURPOSE: PARISH SUPPORT | $318,303 |
Arden Hills, MN PURPOSE: OPERATIONAL SUPPORT | $140,263 |
ST PETER CHURCH CEMETERY ASSOCIATION - ADAMS PURPOSE: CEMETARY MAINTENANCE | $111,661 |
Mankato, MN PURPOSE: CEMETARY MAINTENANCE | $109,497 |
ST MARY CHURCH - ALEXANDRIA PURPOSE: PARISH SUPPORT | $50,321 |
Grants Recieved
Over the last fiscal year, we have identified 2 grants that Catholic United Financial Foundation has recieved totaling $1,540.
| Awarding Organization | Amount |
|---|---|
Felhaber Larson Fenlon & Vogtfoundation Minneapolis, MN PURPOSE: CHARITABLE CONTRIBUTION | $1,500 |
Amazonsmile Foundation Seattle, WA PURPOSE: GENERAL SUPPORT | $40 |
Endowment Analysis
| Beg. Balance | $2,773,171 |
| Earnings | $173,149 |
| Net Contributions | $229,307 |
| Other Expense | $140,422 |
| Ending Balance | $3,035,205 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Worth County Development Authority Northwood, IA | $8,240,749 | $6,157,684 |
Constellation Fund Minneapolis, MN | $8,581,079 | $5,161,859 |
Washington County Riverboat Foundation Washington, IA | $2,209,057 | $4,844,569 |
Catholic United Financial Foundation St Paul, MN | $37,486,034 | $6,021,022 |
Seeds Of Change Foundation Sioux Falls, SD | $998,757 | $2,484,573 |
Fond Du Lac Area Foundation Fond Du Lac, WI | $72,661,560 | $12,050,578 |
John Herr Foundation Tr Fairfield, IA | $3,532,679 | $2,035,740 |
Raymond And Marie Goldbach Foundation Inc Marathon, WI | $27,008,832 | $2,753,618 |
National Institute Forpharmaceutical Technology And Educa Minneapolis, MN | $1,296,895 | $1,189,720 |
Wctc Foundation Inc Pewaukee, WI | $8,998,700 | $2,844,099 |
Make-A-Wish Foundation Of North Dakota Fargo, ND | $6,281,245 | $1,489,265 |
Palo Alto County Gaming Development Corporation Emmetsburg, IA | $4,291,314 | $1,958,710 |