Catholic Foundation Of Michigan
- Assets
- $48.2m
- Revenue
- $9.2m
- Investments
- $0.0
- Employees
- 6
- Location
- Bloomfield Hills, MI
- Founding
- 01/2017
- Data as of
- 12/2023
- EIN
- 81-4107324
Organization Overview
Catholic Foundation Of Michigan is located in Bloomfield Hills, MI. The organization was established in 2017. 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 12/2023, Catholic Foundation Of Michigan employed 6 individuals. This organization is an independent organization and not affiliated with a larger national or regional group of organizations. Catholic Foundation Of Michigan 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 12/2023, Catholic Foundation Of Michigan generated $9.2m in total revenue. All expenses for the organization totaled $6.1m during the year ending 12/2023.
Since 2017, Catholic Foundation Of Michigan has awarded 343 individual grants totaling $16,621,439. 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 FOUNDATION OF MICHIGAN INSPIRES GENEROSITY TO SUPPORT THE SPIRITUAL, EDUCATIONAL AND SOCIAL NEEDS OF OUR CATHOLIC COMMUNITY.WE ASSIST DONORS IN PROVIDING FOR THE LONG-TERM NEEDS OF THE CATHOLIC MINISTRIES OF SOUTHEAST MICHIGAN BY PROVIDING SOCIALLY/MORALLY RESPONSIBLE CHARITABLE TOOLS SUCH AS DONOR ADVISED FUNDS AND ENDOWMENTS TO BENEFIT PARISHES, SCHOOLS AND NONPROFITS. WE WORK WITH PARISHES, SCHOOLS, AND NONPROFITS TO BUILD A SUSTAINABLE PHILANTHROPIC PLAN IN LINE WITH CATHOLIC TEACHINGS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE CATHOLIC FOUNDATION OF MICHIGAN INSPIRES PHILANTHROPY AND UNITES CATHOLICS IN CHARITABLE GIVING IN LINE WITH THEIR FAITH. WE ASSIST DONORS IN PROVIDING FOR THE LONG-TERM NEEDS OF THE MINISTRIES OF MICHIGAN BY PROVIDING SOCIALLY/MORALLY RESPONSIBLE CHARITABLE TOOLS SUCH AS DONOR ADVISED FUNDS, SCHOLARSHIPS, AND ENDOWMENTS TO BENEFIT PARISHES, SCHOOLS, AND NONPROFITS TO BUILD A SUSTAINABLE PHILANTHROPIC PLAN IN LINE WITH CATHOLIC TEACHINGS. IN 2023, 16 NEW FUNDS WERE ESTABLISHED TO PROVIDE BENEFIT TO THE COMMUNITY. AT THE CLOSE OF YEAR, 242 NON PROFITS BENEFITED FROM COMPETITIVE AND DONOR DIRECTED GRANTS IN ADDITION TO ENDOWMENT DISTRIBUTIONS TOTALING $4,993,826.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Angela Moloney President & CEO | OfficerTrustee | 40 | $133,942 |
Chris Allen Chair | OfficerTrustee | 4 | $0 |
Don Kunz Secretary | OfficerTrustee | 4 | $0 |
Harry Cendrowski Treasurer | OfficerTrustee | 4 | $0 |
Beverly Beltramo Director | Trustee | 4 | $0 |
Scott Bennett Director | Trustee | 4 | $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 | $7,590,470 |
| Noncash contributions included in lines 1a–1f | $5,042,875 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $7,590,470 |
| Total Program Service Revenue | $0 |
| Investment income | $939,614 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | $444,910 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $9,194,802 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $4,993,826 |
| 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. | $177,254 |
| Compensation of current officers, directors, key employees. | $65,421 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $157,382 |
| Pension plan accruals and contributions | $27,699 |
| Other employee benefits | $52,211 |
| Payroll taxes | $26,317 |
| Fees for services: Management | $0 |
| Fees for services: Legal | $13,928 |
| Fees for services: Accounting | $31,095 |
| Fees for services: Lobbying | $0 |
| Fees for services: Fundraising | $0 |
| Fees for services: Investment Management | $272,075 |
| Fees for services: Other | $0 |
| Advertising and promotion | $9,037 |
| Office expenses | $0 |
| Information technology | $19,553 |
| Royalties | $0 |
| Occupancy | $0 |
| Travel | $9,295 |
| Payments of travel or entertainment expenses for any federal, state, or local public officials | $0 |
| Conferences, conventions, and meetings | $1,012 |
| Interest | $0 |
| Payments to affiliates | $0 |
| Depreciation, depletion, and amortization | $0 |
| Insurance | $22,638 |
| All other expenses | $3,123 |
| Total functional expenses | $6,065,107 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $237,973 |
| Savings and temporary cash investments | $99,132 |
| 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 | $19,690 |
| Net Land, buildings, and equipment | $0 |
| Investments—publicly traded securities | $47,834,938 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $0 |
| Total assets | $48,191,733 |
| Accounts payable and accrued expenses | $3,744 |
| 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 | $26,679,500 |
| Total liabilities | $26,683,244 |
| Net assets without donor restrictions | $21,508,489 |
| 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 | $0 |
| Total liabilities and net assets/fund balances | $48,191,733 |
Grants Awarded
Over the last fiscal year, Catholic Foundation Of Michigan has awarded $4,389,362 in support to 73 organizations.
| Grant Recipient | Amount |
|---|---|
ACTS XXIX PURPOSE: GENERAL SUPPORT | $221,000 |
ALTERNATIVES FOR GIRLS PURPOSE: GENERAL SUPPORT | $7,000 |
ANGELS' PLACE PURPOSE: GENERAL SUPPORT | $25,300 |
ARCHDIOCESE OF DETROIT CSA PURPOSE: GENERAL SUPPORT | $43,250 |
ART FOR GOD'S SAKE PURPOSE: GENERAL SUPPORT | $50,000 |
ARCHDIOCESE OF DETROIT CENTRAL OFFICE PURPOSE: GENERAL SUPPORT | $111,000 |