Foundation Of The Roman Catholic Diocese Of Raleigh Inc
- Assets
- $72.6m
- Revenue
- $3.1m
- Investments
- $0.0
- Employees
- 5
- Location
- Raleigh, NC
- Founding
- 03/1946
- Data as of
- 06/2023
- EIN
- 83-1609483
Organization Overview
Foundation Of The Roman Catholic Diocese Of Raleigh Inc is located in Raleigh, NC. The organization was established in 1946. As of 06/2023, Foundation Of The Roman Catholic Diocese Of Raleigh Inc employed 5 individuals. This organization is a subordinate organization within an affiliated group for tax-exemption purposes. Foundation Of The Roman Catholic Diocese Of Raleigh Inc 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 06/2023, Foundation Of The Roman Catholic Diocese Of Raleigh Inc generated $3.1m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 4 years, the organization has seen revenues fall by an average of (5.9%) each year. All expenses for the organization totaled $3.2m during the year ending 06/2023. You can explore the organizations financials more deeply in the financial statements section below.
Since 2020, Foundation Of The Roman Catholic Diocese Of Raleigh Inc has awarded 53 individual grants totaling $9,628,777. 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 FOUNDATION WAS FORMED TO CULTIVATE ENDOWED AND MAJOR GIFTS FOR THE LONG-TERM BENEFIT OF THE MINISTRIES OF THE DIOCESE OF RALEIGH WHILE PROVIDING EFFECTIVE AND EFFICIENT MANAGEMENT AND DISTRIBUTION OF INVESTED FUNDS.
Describe the Organization's Program Activity:
Part 3 - Line 4a
THE FOUNDATION, HEADQUARTERED IN RALEIGH, NORTH CAROLINA, EXISTS TO CULTIVATE ENDOWED AND MAJOR GIFTS FOR THE LONG-TERM BENEFIT OF THE PARISHES, SCHOOLS, PROGRAMS, AND MINISTRIES OF THE CATHOLIC DIOCESE OF RALEIGH WHILE PROVIDING EFFECTIVE AND EFFICIENT MANAGEMENT AND DISTRIBUTION OF INVESTED FUNDS.
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Board, Officers & Key Employees
| Name (title) | Role | Hours | Compensation |
|---|---|---|---|
Timothy A Mann President | OfficerTrustee | 3 | $0 |
John W Byrne Vice President | OfficerTrustee | 3 | $0 |
H Dean Penny Secretary/treasurer | OfficerTrustee | 3 | $0 |
Michael Goodmon Board Member | Trustee | 3 | $0 |
Anne W Stahel Board Member | Trustee | 3 | $0 |
Ricardo Herrera Board Member | Trustee | 3 | $0 |
Financial Statements
| Statement of Revenue | |
|---|---|
| Federated campaigns | $0 |
| Membership dues | $0 |
| Fundraising events | $0 |
| Related organizations | $1,360,237 |
| Government grants | $0 |
| All other contributions, gifts, grants, and similar amounts not included above | $634,246 |
| Noncash contributions included in lines 1a–1f | $137,239 |
| Total Revenue from Contributions, Gifts, Grants & Similar | $1,994,483 |
| Total Program Service Revenue | $0 |
| Investment income | $1,636,132 |
| Tax Exempt Bond Proceeds | $0 |
| Royalties | $0 |
| Net Rental Income | $0 |
| Net Gain/Loss on Asset Sales | -$572,136 |
| Net Income from Fundraising Events | $0 |
| Net Income from Gaming Activities | $0 |
| Net Income from Sales of Inventory | $0 |
| Miscellaneous Revenue | $0 |
| Total Revenue | $3,058,479 |
| Statement of Expenses | |
|---|---|
| Grants and other assistance to domestic organizations and domestic governments. | $2,297,084 |
| 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. | $149,845 |
| Compensation of current officers, directors, key employees. | $43,385 |
| Compensation to disqualified persons | $0 |
| Other salaries and wages | $216,647 |
| Pension plan accruals and contributions | $7,644 |
| Other employee benefits | $27,003 |
| Payroll taxes | $24,740 |
| 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 | $158,793 |
| Fees for services: Other | $130,320 |
| Advertising and promotion | $0 |
| Office expenses | $5,056 |
| Information technology | $0 |
| Royalties | $0 |
| Occupancy | $58,082 |
| Travel | $57,259 |
| 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 | $2,940 |
| Insurance | $0 |
| All other expenses | $0 |
| Total functional expenses | $3,162,527 |
| Balance Sheet | |
|---|---|
| Cash—non-interest-bearing | $279,828 |
| Savings and temporary cash investments | $1,154,824 |
| Pledges and grants receivable | $16,875 |
| Accounts receivable, net | $1,234 |
| 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 | $13,227 |
| Investments—publicly traded securities | $70,856,135 |
| Investments—other securities | $0 |
| Investments—program-related | $0 |
| Intangible assets | $0 |
| Other assets | $303,807 |
| Total assets | $72,625,930 |
| Accounts payable and accrued expenses | $26,600 |
| 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 | $977,896 |
| Total liabilities | $1,004,496 |
| Net assets without donor restrictions | $33,494,938 |
| Net assets with donor restrictions | $38,126,496 |
| 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 | $72,625,930 |
Grants Awarded
Over the last fiscal year, Foundation Of The Roman Catholic Diocese Of Raleigh Inc has awarded $2,297,084 in support to 14 organizations.
| Grant Recipient | Amount |
|---|---|
ROMAN CATHOLIC DIOCESE OF RALEIGH AND AFFILIATES(LIST AVAILABLE ON REQUEST) PURPOSE: ASSISTANCE FOR THE NEEDY | $231,312 |
ROMAN CATHOLIC DIOCESE OF RALEIGH AND AFFILIATES(LIST AVAILABLE ON REQUEST) PURPOSE: CATHOLIC SCHOOLS AND EDUCATION INITIATIVES | $97,170 |
ROMAN CATHOLIC DIOCESE OF RALEIGH AND AFFILIATES(LIST AVAILABLE ON REQUEST) PURPOSE: CHILD AND FAMILY PROGRAMS | $1,800 |
ROMAN CATHOLIC DIOCESE OF RALEIGH AND AFFILIATES(LIST AVAILABLE ON REQUEST) PURPOSE: DIOCESAN SUPPORT AND ASSISTANCE | $135,300 |
ROMAN CATHOLIC DIOCESE OF RALEIGH AND AFFILIATES(LIST AVAILABLE ON REQUEST) PURPOSE: LAY FORMATION AND EDUCATION | $88,400 |
ROMAN CATHOLIC DIOCESE OF RALEIGH AND AFFILIATES(LIST AVAILABLE ON REQUEST) PURPOSE: OTHER | $263,643 |