Overview
What is The Catholic Foundation Of Maine?
The Catholic Foundation of Maine is a nonprofit organization situated in Portland, Maine. Its primary mission is to manage and oversee endowments, which are funds benefiting parishes, clergy, students, educational institutions, ministries, and associated organizations. During the latest filing period, several new ministry program endowment funds were established, including the Erlinda A. Polvorosa and Paul H. LaMarche Memorial Endowment, among others. The foundation's purpose is to offer charitable investment opportunities through donations or gifts to these endowments, thereby supporting various religious and educational endeavors in Maine. The organization employs a total of 3 individuals.
Official website here: www.catholicfoundationmaine.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 83% (Three-Star out of Four Stars)
The Catholic Foundation of Maine has received a favorable rating of 83% from Charity Navigator, indicating strong accountability and financial health. The organization excels in several areas, including a high percentage of independent board members and excellent scores for audit and oversight practices. Their fundraising efficiency is also commendable, with a low cost per dollar raised, reflecting effective fundraising strategies.
Despite its strengths, the foundation has noted some areas for improvement, particularly in governance practices. The absence of a whistleblower policy and a document retention policy are highlighted as significant gaps. Additionally, the foundation's program expense ratio indicates that a smaller portion of its budget is directed toward programming compared to fundraising and administrative costs.
Overall, while The Catholic Foundation of Maine demonstrates strong financial management and accountability, stakeholders may want to see improvements in its governance policies to enhance transparency and operational integrity.
This AI summary has been generated from information found on Charity Navigator.
Is The Catholic Foundation Of Maine legitimate?
The Catholic Foundation Of Maine is a legitimate nonprofit organization registered as a 501(c)(3) entity. The Catholic Foundation Of Maine 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:
Executive Compensation: $0
Professional Fundraising Fees: $0
Other Salaries and Wages: $162,448
For more financial information, click here
Official website here: www.catholicfoundationmaine.org
What is the mission statement of The Catholic Foundation Of Maine?
The Catholic Foundation of Maine's mission is to offer an avenue for charitable investing through donations or gifts to endowments. This organization manages and oversees these endowments for the benefit of various entities such as parishes, clergy, students, education, ministries, and organizations. During a certain period, they established several new ministry program endowment funds, including the Erlinda A. Polvorosa and Paul H. LaMarche Memorial Endowment, among others.
Official website here: www.catholicfoundationmaine.org
Who is the CEO of The Catholic Foundation Of Maine?
Bishop Robert Deeley Jcd is the President of The Catholic Foundation Of Maine.
Official website here: www.catholicfoundationmaine.org
What is the revenue of The Catholic Foundation Of Maine?
The Catholic Foundation Of Maine's revenue in 2022 was $2,739,012.
Official website here: www.catholicfoundationmaine.org
Who are the executives of The Catholic Foundation Of Maine and what are their salaries?
The average compensation at The Catholic Foundation Of Maine during 2022 was $54,149. There are 3 employees and 10 volunteers at The Catholic Foundation Of Maine.
Here are 13 key members and their salaries:
- Compensation: $0
- Related: $45,424
- Other: $39,375
- Compensation: $0
- Related: $172,664
- Other: $18,993
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
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- Other: $0
- Compensation: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
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- Other: $0
- Compensation: $0
- Related: $104,825
- Other: $11,531
Official website here: www.catholicfoundationmaine.org
Where can I find the form 990 for The Catholic Foundation Of Maine?
The Catholic Foundation Of Maine's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.catholicfoundationmaine.org
Learn more at the official website: www.catholicfoundationmaine.org
Mission Statement of The Catholic Foundation Of Maine
The Catholic Foundation of Maine serves a significant role in charitable giving, offering opportunities for individuals to make donations or gifts to endowments. Its mission is centered around maintaining and managing these endowments, which ultimately benefit various entities such as parishes, clergy, students, educational institutions, ministries, and organizations. During a recent filing period, several new ministry program endowment funds were established, including the Erlinda A. Polvorosa and Paul H. LaMarche Memorial Endowment, the J. F. Dillon Pre School Endowment Fund, and the All Saints Parish Endowment, among others. These funds contribute to the support of various causes within the Catholic community, demonstrating the foundation's commitment to its mission.
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Impact
July, 2024
The Catholic Foundation of Maine provides opportunities for charitable investment through donations or gifts to endowments. They maintain and administer endowments for the benefit of parishes, clergy, students, education, ministries, and organizations. Some of the new ministry program endowment funds 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, and others. Their impact is significant in supporting various areas within the Catholic community in Maine.
This information is meant to be a general summary of The Catholic Foundation Of Maine. 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: $1,820,716
- Gross Receipts: $25,078,826
Assets and Liabilities:
- Total Assets: $32,450,592
- Total Liabilities: $34,452
- Net Assets: $32,416,140
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Organization Details
Founding Year
2003
Phone
(207) 773-6471Principal Officer
Bishop Robert Deeley Jcd
Main Address
PO Box 799, Portland, ME, 04104
NTEE Category
Code: X122 - Religion related
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