irs program accomplishments · form 990 part iii · fy2021
what they reported doing
Program narrative the organization filed with the IRS. Ordered by program spending.
- #1 primary $91KNEEDS BASED SCHOLARSHIP PROGRAM THE CATHOLIC COMMUNITY FOUNDATION SCHOLARSHIP - THE FOUNDATION LAUNCHED THE NEEDS BASED SCHOLARSHIP PROGRAM IN 2020 WHICH IS FOCUSED ON HELPING STUDENTS WITH FINANCIAL NEED. THIS PROGRAM AWARDS RECIPIENTS 17,000 OVER A 5-YEAR PERIOD, WITH STUDENTS RECEIVING 1,000 IN EIGHTH GRADE FOLLOWED BY 4,000 PAYMENTS ANNUALLY FOR EACH YEAR OF HIGH SCHOOL. THIS YEAR THE FOUNDATION AWARDED THIS SCHOLARSHIP TO 18 STUDENTS ACROSS 13 ELEMENTARY SCHOOLS AND MADE SCHOLARSHIP PAYMENTS TO 6 CATHOLIC HIGHSCHOOLS TO BENEFIT 32 AWARDEES FROM THE PREVIOUS TWO YEARS. IN TOTAL, THE FOUNDATION HAS AWARDED 53 SCHOLARSHUPS IN THE THREE YEARS THE PROGRAM HAS BEEN ACTIVE. THE REVENUE GENERATED FOR THE OPERATION OF THIS PROGRAM IS DERIVED FROM ENDOWMENT INCOME.
- #2 $2.83MADMINISTRATIVE FEES ARE EARNED THROUGH THE MANAGEMENT OF THE UNDERLYING INVESTMENT BALANCES OF FUND HOLDERS, WHICH ENTAILS INVESTEMENT ALLOCATION DECISIONS AND PERFORMING ADMINISTRATIVE FUNCTIONS TO OPERATE AND MAINTAIN THE FUNDS OF DONORS. THE FOUNDATION FOCUSES ON ASSET PROTECTION, MANAGING AND BUILDING WEALTH WITH A CATHOLIC VALUES FOCUS, AND PROVIDING SERVICES FOR THOSE IN ALL STAGES OF LIFE ENDOWMENT MANAGEMENT, ESTATE PLANNING, DONOR ADVISED FUNDS, CHARITABLE GIVING ANNUITIES, ETC.
named programs · 8 · from sources
what they call their work
Catholic Education Scholarships
Annual scholarship program providing financial support to students in Catholic schools across the Diocese of Phoenix based on service, faith, and academic merit
Catholic Planned Gift / Legacy Gift
Planned donations made through wills, trusts, or other estate plans to support the Church's work beyond a donor's lifetime, ensuring values live on through parishes, schools, or ministries.
Charitable Gift Annuities
Agreements where donors contribute assets to the Foundation in exchange for fixed lifetime payments, with remaining funds supporting Catholic causes after the donor's lifetime
Donor-Advised Funds
Flexible charitable accounts that allow Catholic donors to make tax-deductible contributions and recommend grants over time to parishes, schools, and ministries, with options for family involvement and successor advisors
Donor-Advised Funds (DAF)
Flexible charitable accounts where donors make tax-deductible contributions and recommend grants to Catholic and other eligible charities over time, with options to involve family members.
Endowments
Funds established to last in perpetuity, where the principal is invested for growth and a set portion is distributed annually to support designated parishes, schools, scholarships, or ministries.
Endowments & Family Foundations
Permanently endowed funds established to support a specific parish, school, scholarship, or ministry in perpetuity, with principal invested and annual distributions funding ongoing operations
Scholarship Program
Awards scholarships to students for Catholic education, including the Catholic Community Foundation scholarship, Christian Service Award scholarship, and Ralph M. Knight Chemistry and Engineering scholarship.
activities · 3 clusters
what they do
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Endowment and Investment Fund Management 11 activities
- Administering charitable gift annuitiesAdministers charitable gift annuities that provide donors with lifetime payments and direct remaining funds to Catholic ministries after the donor's lifetime.
- Establishing and Managing EndowmentsEstablishes and manages endowment funds for Catholic education, parish life, pro-life outreach, and aid for the vulnerable, ensuring long-term financial sustainability through investment and annual distributions. This includes creating sub-funds within donor-advised funds for family members.
- Establishing and managing endowment fundsEstablishes and manages permanent endowment funds for Catholic schools, parishes, and other ministries to ensure long-term sustainability, supporting Catholic education, parish life, pro-life outreach, and aid for the vulnerable through long-term investment and annual distributions.
- Establishing and managing endowment fundsEstablishes and manages permanent endowment funds for Catholic schools, parishes, and other ministries, ensuring long-term sustainability through investment and annual distributions. This includes creating sub-funds within donor-advised funds for family members.
- Hosting Catholic Values Investment ForumsOrganizes forums, such as the Catholic Values Investment Forum, for nonprofit leaders, financial professionals, and fundholders to explore and implement investment strategies aligned with Catholic teaching.
- Hosting Catholic Values Investment ForumsOrganizes and hosts forums, such as the Catholic Values Investment Forum, for nonprofit leaders, financial professionals, and fundholders to explore and apply investment strategies aligned with Catholic teaching.
- Managing Catholic Values Investment PortfoliosManages investment portfolios that are 99% screened for Catholic Values, investing in approximately 800 companies across these portfolios.
- Managing Catholic Values-aligned investment portfoliosCreates and manages a menu of four USCCB-compliant investment portfolios that are 99% Catholic Values screened, investing in approximately 800 companies across these portfolios.
- Managing Catholic values-screened investment portfoliosManages a menu of four USCCB-compliant investment portfolios that are 99% Catholic Values screened, investing in approximately 800 companies across these portfolios.
- Providing Charitable Giving Tools and SupportOffers tools, resources, and administrative support to individuals and organizations for planned giving and complex giving vehicles, including administering charitable gift annuities that provide donors with lifetime payments and direct remaining funds to Catholic ministries.
- Providing resources and education on planned giving and investmentsOffers tools and resources to help individuals and organizations understand planned giving and complex giving vehicles, provides administrative support, and hosts forums on Catholic values-aligned investment strategies for nonprofit leaders, financial professionals, and fundholders.
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Catholic Tuition Scholarship Distribution 3 activities
- Grantmaking to Catholic Ministries and OrganizationsDistributes grants to support Catholic schools, parishes, and other non-profit organizations within the Diocese of Phoenix, focusing on education, parish life, and aid for vulnerable populations. In 2020, over $3 million was granted, and over $55 million in total grant funds have been distributed over 40 years.
- Grantmaking to Catholic organizations and individualsDistributes grants and scholarships to Catholic schools, parishes, non-profits, and other entities within the Diocese of Phoenix, supporting education, parish life, pro-life outreach, and aid for vulnerable populations. Over $3 million was granted in 2020, and over $55 million in grant funds and 6,000 scholarships have been awarded over 40 years.
- Grantmaking to Catholic organizations and individualsDistributes grants and scholarships to Catholic schools, parishes, non-profits, and other entities within the Diocese of Phoenix, supporting education, parish life, and assistance for vulnerable populations. In 2020, over $3 million was granted, and over 6,000 scholarships have been awarded, with more than $55 million in grant funds distributed over 40 years.
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Donor-Advised Fund Administration 1 activity
- Providing planned giving and donor-advised fund servicesOffers tools and resources for individuals and organizations to understand planned giving and complex giving vehicles, provides administrative support, and administers charitable gift annuities. It also creates sub-funds within donor-advised funds for family members to recommend grants to charities.
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financials · form 990 · fy2021
the money
revenue
Total revenue$16.21M
Contributions & grants$13.16M81%
Program service revenue$950K6%
Investment income$2.09M13%
Other revenue$0
expenses
Total expenses$4.23M
Program expenses72%
Admin / overhead13%
Fundraising15%
Salaries & benefits$884K
Grants paid out$2.83M
Largest expense lineCompensation
balance sheet
Total assets$102.37M
Cash$84K
Investments$100.31M
Liabilities$44.09M
Net assets$58.29M
Liquid reserves284.6 mo
2 years on record · 2020–2021 · YoY revenue +73.1%
leadership · form 990 part vii · fy2021
who runs it
paid leadership · 2
| Name | Title | Hours/wk | Compensation |
|---|---|---|---|
| James Carabajal | CEO | 40 | $191K |
| Kyle Felix | COO | 40 | $154K |
board members · 23
- Ann Couch — Board Member
- Bishop Thomas Olmsted — Board Member
- Bryan Brady — Treasurer
- Cathy Bergmann — Board Member
- Cynthia Scheller — Board Member
- F Michael Geddes — Board Member
- Gary Naquin — Board Member
- Janine Campo — Board Member
- John Even — Past Chairman
- Karen Abraham — Chairman
- Kevin Boudreau — Board Member
- Kevin Camberg — Vice Chairman
- Maria Chavira — Board Member
- Peg Whalen — Board Member
- Rev Fred Adamson — Board Member
- Rev Matt Lowry — Board Member
- Robert Whitehouse — Board Member
- Sr Mary Jordan Hoover — Board Member
- Steve Jerome — Secretary
- Steve Strickbine — Board Member
- Tim Jeffries — Board Member
- Tony Ehmann — Board Member
- Tony Tanner — Board Member
relationships · 9
who they work with
- BNY Mellon Partner — Global financial services company with whom the Foundation created USCCB-compliant portfolios.
- Blessed Sacrament Catholic Church Partner — Parish community of Gala Chairs Debbie and JB Frere, who are active supporters of the Foundation.
- Diocese of Phoenix Government — Collaborates with the Diocese of Phoenix while operating as a canonically and civilly distinct entity.
- Diocese of Phoenix Government — Primary geographic and institutional affiliation for the Foundation's mission and service activities.
- IWP Capital Partner — Collaborates with IWP Capital to present on how Catholic values investing makes a difference at the Foundation's forum.
- Sisters of Life Partner — Recipient of a $20,000 grant from the foundation.
- St. Timothy’s Catholic Church Partner — Partner parish designated by donors for legacy support through estate planning and endowments.
- USCCB Government — Follows USCCB socially responsible investment guidelines to align investments with Catholic teachings.
- United States Conference of Catholic Bishops (USCCB) Government — Provides the ethical guidelines and teachings that inform the Foundation's investment screening and policies.