Overview
What is Catholic United Financial Foundation?
Catholic United Financial Foundation is a nonprofit organization committed to supporting the spiritual, educational, and social needs of the Catholic community, particularly in areas where Catholic United Financial has a significant presence. The foundation provides financial assistance through various programs, including grants for technology and chastity education in Catholic schools and parishes, scholarships for seminarians, and disaster relief aid. Additionally, the foundation offers charitable gift annuities, donor-advised funds, and other financial instruments to its members. By integrating charitable giving into their overall financial strategies, the foundation aims to help its members achieve their charitable goals while practicing sound, conservative fiscal management. The foundation also assists parishes and cemeteries with long-term and endowment management through its organizational advised funds program. In 2022, the foundation provided nearly $3.4 million in support to charitable organizations, churches, and schools across the Upper Midwest.
Official website here: www.catholicunited.org
What are the reviews and ratings of this charity?
**Charity Navigator Rating: 97% (Four-Star out of Four Stars)**
Catholic United Financial Foundation holds an impressive Four-Star rating from Charity Navigator, reflecting its strong accountability and financial health. The charity achieves an exceptional score of 97% in Accountability & Finance, underpinned by factors such as a fully independent board and excellent financial oversight processes. Their program expense ratio is notably high, indicating that a large portion of their funds directly supports their programs rather than administrative costs.
Strengths of the organization include a strong culture and community engagement score of 95%, which showcases their effectiveness in maintaining constituent feedback and actively involving the community in their practices. This high level of community interaction and commitment to feedback usage points to a responsive and adaptive organization ready to face challenges.
While the organization excels in many areas, there is a minor limitation noted regarding equity data collection; they scored lower in this area based on current metrics. Overall, Catholic United Financial Foundation is recognized for its strong governance and fiscal responsibility, making it a reputable choice for potential donors and community partners.
This AI summary has been generated from information found on Charity Navigator.
Is Catholic United Financial Foundation legitimate?
Catholic United Financial Foundation is a legitimate nonprofit organization registered as a 501(c)(3) entity. Catholic United Financial Foundation submitted a form 990, which is a tax form used by tax-exempt organizations in the U.S., indicating its operational transparency and adherence to regulatory requirements. Donations to this organization are tax deductible.
Heare are some key statistics you may want to consider:
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For more financial information, click here
Official website here: www.catholicunited.org
What is the mission statement of Catholic United Financial Foundation?
The Catholic United Financial Foundation, inspired by Christian values, serves its donors, employees, and supporters of Catholic United Financial by being financially accountable and aligned with the church's mission. The foundation supports Catholic schools and parishes by providing grants for technology and chastity education. It also extends a Catholic presence during natural disasters through financial aid. Furthermore, the foundation assists in offsetting the cost of educating and training men for the priesthood.
Official website here: www.catholicunited.org
Who is the CEO of Catholic United Financial Foundation?
Robert Heuermann is the Executive Director of Catholic United Financial Foundation.
Official website here: www.catholicunited.org
What is the revenue of Catholic United Financial Foundation?
Catholic United Financial Foundation's revenue in 2022 was $9,669,959.
Official website here: www.catholicunited.org
Who are the executives of Catholic United Financial Foundation and what are their salaries?
There 178 volunteers at Catholic United Financial Foundation.
Here are 14 key members and their salaries:
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Official website here: www.catholicunited.org
Where can I find the form 990 for Catholic United Financial Foundation?
Catholic United Financial Foundation's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.catholicunited.org
Learn more at the official website: www.catholicunited.org
Mission Statement of Catholic United Financial Foundation
Catholic United Financial Foundation, inspired by the teachings of Jesus Christ, serves the members, employees, and supporters of Catholic United Financial, a not-for-profit fraternal benefit association, by being accountable to its donors and remaining faithful to the church's mission. The foundation's primary objective is to support the spiritual, educational, and social needs of the Catholic community where Catholic United Financial has a significant presence.
To accomplish this, Catholic United Financial Foundation provides financial assistance to Catholic schools and parishes through technology and chastity education grants. The grants aim to enhance the quality of education and promote moral values within these institutions. Furthermore, the foundation extends its support to communities impacted by natural disasters by offering financial aid. This aid serves as a tangible expression of the Catholic faith's compassion and solidarity.
Additionally, Catholic United Financial Foundation contributes towards the cost of educating and training men for the priesthood. By financially supporting seminaries and related programs, the foundation helps ensure a steady supply of spiritual leaders for the Catholic community. In doing so, it plays a vital role in strengthening the faith and fostering spiritual growth within the community.
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Impact
July, 2024
Catholic United Financial Foundation's impact is significant and far-reaching. The Foundation supports financially the spiritual, educational, and social needs of the Catholic community in areas where Catholic United Financial has a major presence.
In 2022, the Foundation's grant program provided 138 grants to Catholic schools and parishes for technology and chastity & abstinence programs, totaling $79,353. Since 2001, the Foundation has awarded over $1.2 million through more than 2,260 grants to Catholic schools, parishes, and religious education programs. The Schuler Seminarian Fund provided 171 seminarians with $68,900 in scholarship support to aid in their continuing education towards becoming a priest. Since 1998, the Foundation has awarded over $1 million to seminarians pursuing their calling towards ordination.
Additionally, the Foundation's Catholic United Disaster Response program assists victims of natural disasters, providing education and support to community members and organizations so they can assist themselves and others in need following natural disasters. The Foundation also offers charitable gift annuities, donor-advised funds, charitable deferred annuities, and charitable life insurance to Catholic United Financial members, integrating giving into their overall financial strategy.
In 2022, the Foundation's efforts provided almost $3.4 million in support of charitable organizations, churches, and schools across the Upper Midwest. Inspired by the Gospel of Jesus Christ, the Foundation serves the members, employees, and friends of Catholic United Financial by being accountable to donors, supporting Catholic schools and parishes, bringing a Catholic presence to natural disasters, and supplementing the cost of educating and training men for the priesthood.
This information is meant to be a general summary of Catholic United Financial Foundation. Please take the time to review official sources before making any decisions based upon the content provided here.
Financials
This financial information is from Propublica.
Other financial information:
This information is from the most recently submitted tax form from this organization, which was in 2022.
- Investment Income: $684,703
- Gross Receipts: $9,691,908
Assets and Liabilities:
- Total Assets: $42,361,226
- Total Liabilities: $172,845
- Net Assets: $42,188,381
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Organization Details
Founding Year
1997
Phone
(651) 765-4135Principal Officer
Robert Heuermann
Main Address
3499 LEXINGTON AVENUE NORTH, ST PAUL, MN, 55126
Website
www.catholicunited.orgNTEE Category
Code: T120 - Philanthropy
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