Catholic Foundation Of Maine
- Assets
- $37.8m
- Revenue
- $5.4m
- Investments
- $0.0
- Employees
- 3
- Location
- Portland, ME
- Founding
- 01/2005
- Data as of
- 06/2021
- EIN
- 77-0612679
Organization Overview
Catholic Foundation Of Maine is located in Portland, ME. The organization was established in 2005. According to its NTEE Classification (X12) the organization is classified as: Fund Raising & Fund Distribution, under the broad grouping of Religion-Related and related organizations. As of 06/2021, Catholic Foundation Of Maine employed 3 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Catholic Foundation Of Maine 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 06/2021, Catholic Foundation Of Maine generated $5.4m in total revenue. This organization has experienced exceptional growth, as over the past 6 years, it has increased revenue by an average of 16.0% each year . All expenses for the organization totaled $1.7m during the year ending 06/2021. While expenses have increased by 2.8% per year over the past 6 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 Foundation Of Maine has awarded 20 individual grants totaling $8,733,117. 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 PROVIDE OPPORTUNITIES TO CHARITABLY INVEST THROUGH DONATIONS OR GIFTS TO ENDOWMENTS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CATHOLIC FOUNDATION OF MAINE MAINTAINS AND ADMINISTERS ENDOWMENTS FOR THE BENEFIT OF PARISHES, CLERGY, STUDENTS, EDUCATION, MINISTRIES, AND ORGANIZATIONS. NEW MINISTRY PROGRAM ENDOWMENT FUNDS DURING THE FILING PERIOD INCLUDE THE ERLINDA A. POLVOROSA AND PAUL H. LAMARCHE MEMORIAL ENDOWMENT, J. F. DILLON PRE SCHOOL ENDOWMENT FUND, ALL SAINTS PARISH ENDOWMENT, NOTRE DAME DU MONT CARMEL PARISH ENDOWMENT, PETER P. AND MARJORIE S. CLIFFORD ENDOWED FUND FOR THE BENEFIT OF PRINCE OF PEACE PARISH, D.J. CARON, JR. YOUTH MINISTRY ENDOWMENT FOR THE PARISH OF THE PRECIOUS BLOOD, AND THE SEKENGER COUNCIL 1947 KNIGHTS OF COLUMBUS ENDOWMENT.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Bishop Robert Deeley Jcd President | OfficerTrustee | 1 | $0 |
Scott Graff Treasurer | OfficerTrustee | 1 | $0 |
Joseph Powers Chairman | OfficerTrustee | 1 | $0 |
David Caron Vice Chairman | OfficerTrustee | 1 | $0 |
Francis Dillon Chairman (end 9/2020) | OfficerTrustee | 1 | $0 |
Denise Clavettet Secretary (end 3/2021) | OfficerTrustee | 1 | $0 |
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 | $1,750,199 |
| Noncash contributions included in lines 1a–1f | $5,181 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,750,199 |
| Total Program Service Revenue | $0 |
| Investment income | $791,937 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $2,864,240 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $5,406,376 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $1,048,787 |
| 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 | $155,099 |
| Pension plan accruals and contributions | $0 |
| Other employee benefits | $33,459 |
| Payroll taxes | $11,736 |
| 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 | $325,919 |
| Fees for services: Other | $58,102 |
| Advertising and promotion | $18,747 |
| Office expenses | $7,605 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $1,939 |
| 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 | $3,016 |
| All other expenses | $0 |
| Total functional expenses | $1,664,409 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $503,937 |
| Savings and temporary cash investments | $3,859,044 |
| Pledges and grants receivable | $44,292 |
| 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 | $1,117 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $33,400,927 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $37,809,317 |
| Accounts payable and accrued expenses | $5,978 |
| 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 | $8,284 |
| Total liabilities | $14,262 |
| Net assets without donor restrictions | $2,686,769 |
| Net assets with donor restrictions | $35,108,286 |
| 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 | $37,809,317 |
Grants Awarded
Over the last fiscal year, Catholic Foundation Of Maine has awarded $1,039,087 in support to 3 organizations.
| Grant Recipient | Amount |
|---|---|
Portland, ME PURPOSE: General Assistance | $957,387 |
Portland, ME PURPOSE: General Assistance | $65,000 |
Portland, ME PURPOSE: General Assistance | $16,700 |
Grants Recieved
Over the last fiscal year, we have identified 1 grants that Catholic Foundation Of Maine has recieved totaling $6,000.
| Awarding Organization | Amount |
|---|---|
Schiavi Family Foundation Portland, ME PURPOSE: GENERAL OPERATING SUPPORT | $6,000 |
Endowment Analysis
| Beg. Balance | $29,171,124 |
| Earnings | $7,775,124 |
| Admin Expense | $325,919 |
| Net Contributions | $1,749,926 |
| Other Expense | $1,162,351 |
| Ending Balance | $37,207,904 |
Peer Organizations
| Organization Name | Assets | Revenue |
|---|---|---|
Catholic Foundation Of Maine Portland, ME | $37,809,317 | $5,406,376 |
Church 21 Inc Standish, ME | $67,656 | $220,807 |
The Philippian Fellowship Bremen, ME | $14,403 | $0 |
Friends Of Jcsd Nashua, NH | $6,382 | $0 |
Lillian Prendergast Irrv Charitable Tr Bedford, NH | $1,472,219 | $256,113 |
Isle Of Shoals Association Inc Unitarian Universalist Portsmouth, NH | $194,646 | $0 |