Overview
What is Catholic Foundation Of Michigan?
The Catholic Foundation of Michigan is a charitable organization based in Bloomfield Hills, Michigan, with a workforce of five individuals. Their mission is to inspire and unite Catholics in giving, focusing on the long-term needs of Catholic ministries in Southeast Michigan. They achieve this by offering socially and morally responsible charitable tools such as donor-advised funds and endowments. These resources benefit parishes, schools, and nonprofits, helping them establish a sustainable philanthropic plan in accordance with Catholic teachings. In 2022, 28 new funds were established, and the organization granted a total of $6,449,741 to 254 nonprofits through competitive and donor-directed grants and endowment distributions.
Official website here: www.catholicfoundationmichigan.org
What are the reviews and ratings of this charity?
Charity Navigator Rating: 92% (Four-Star out of Four Stars)
The Catholic Foundation of Michigan has earned a commendable Four-Star rating from Charity Navigator, reflecting strong performance in both accountability and finance as well as culture and community. The organization has a high accountability and finance score of 92%, indicating robust financial practices and oversight, including a fully independent board and no reported material diversion of assets. Their commitment to transparency is further supported by their comprehensive policies listed on their website.
In terms of community engagement, the foundation has received excellent feedback scores, highlighting effective feedback collection and usage practices. Their program expense ratio is impressive at 89.53%, showing that a significant portion of their funds is directed toward their programs. Additionally, they maintain a working capital ratio of 3.05 years, ensuring financial stability and the ability to meet future obligations.
However, while the foundation demonstrates strong equity strategies, there is room for improvement in their equity data and policies, receiving scores of 4 out of 7 in these categories. Overall, the Catholic Foundation of Michigan stands out for its accountability, financial health, and community feedback practices, though it may benefit from further developing its equity framework.
This AI summary has been generated from information found on Charity Navigator.
Is Catholic Foundation Of Michigan legitimate?
Catholic Foundation Of Michigan is a legitimate nonprofit organization registered as a 501(c)(3) entity. Catholic Foundation Of Michigan 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: $171,797
Professional Fundraising Fees: $0
Other Salaries and Wages: $184,586
For more financial information, click here
Official website here: www.catholicfoundationmichigan.org
What is the mission statement of Catholic Foundation Of Michigan?
The Catholic Foundation of Michigan inspires and facilitates charitable giving among Catholics, supporting the long-term needs of Catholic ministries in Michigan. They offer socially and morally responsible charitable tools, such as donor advised funds and endowments, to benefit parishes, schools, and nonprofits. Working closely with these organizations, the foundation helps build a sustainable philanthropic plan in accordance with Catholic teachings. In 2022, 28 new funds were established, providing benefits to the community. At the end of the year, 254 nonprofits received grants, totaling over $6.4 million from both competitive and donor-directed grants, as well as endowment distributions.
Official website here: www.catholicfoundationmichigan.org
Who is the CEO of Catholic Foundation Of Michigan?
Angela Moloney is the President & Ceo of Catholic Foundation Of Michigan. The CEO's salary of Catholic Foundation Of Michigan is $130,464 and their total compensation is $171,797.
Official website here: www.catholicfoundationmichigan.org
What is the revenue of Catholic Foundation Of Michigan?
Catholic Foundation Of Michigan's revenue in 2022 was $20,315,357.
Official website here: www.catholicfoundationmichigan.org
Who are the executives of Catholic Foundation Of Michigan and what are their salaries?
The average compensation at Catholic Foundation Of Michigan during 2022 was $71,277. There are 5 employees and 49 volunteers at Catholic Foundation Of Michigan.
Here are 34 key members and their salaries (Catholic Foundation Of Michigan's CEO's salary is $130,464 and their total compensation is $171,797):
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Official website here: www.catholicfoundationmichigan.org
Where can I find the form 990 for Catholic Foundation Of Michigan?
Catholic Foundation Of Michigan's most recent form 990 was submitted in 2022 and can be accessed here.
Official website here: www.catholicfoundationmichigan.org
Learn more at the official website: www.catholicfoundationmichigan.org
Mission Statement of Catholic Foundation Of Michigan
The Catholic Foundation of Michigan motivates and connects Catholics in charitable giving towards their faith community. By offering socially and morally responsible charitable tools such as donor advised funds and endowments, the Foundation helps donors support the long-term requirements of Catholic parishes, schools, ministries, and nonprofit organizations in Southeast Michigan. In accordance with Catholic teachings, the Foundation collaborates with these entities to establish a sustainable philanthropic plan.
In 2022, 28 new funds were established within the Catholic Foundation of Michigan to benefit the community. At the year's end, 254 nonprofits received grants from competitive and donor-directed distributions, as well as endowment distributions, totaling $6,449,741. The Catholic Foundation of Michigan's mission is geared towards inspiring charitable giving and assisting donors in providing for the long-term needs of the Catholic parishes, schools, and nonprofits in Michigan. Through its charitable tools and partnerships, the Foundation aims to create a lasting impact on the community in line with Catholic teachings.
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Impact
October, 2024
The Catholic Foundation of Michigan plays a transformative role in the Southeast Michigan community by fostering a culture of charitable giving among Catholics. By inspiring and uniting individuals in their faith-driven philanthropic initiatives, the Foundation provides essential tools such as donor-advised funds, scholarships, and endowments, ensuring that the long-term needs of local parishes, schools, and other Catholic ministries are met.
In 2022 alone, the Foundation established 28 new funds aimed at enhancing community support, leading to significant financial distributions. At the end of the year, 254 nonprofits benefited from competitive and donor-directed grants, along with endowment distributions totaling over $6.4 million. This substantial impact not only strengthens individual Catholic organizations but also enriches the overall community, aligning charitable efforts with Catholic teachings and values. Through these initiatives, the Catholic Foundation of Michigan cultivates sustainable philanthropic plans that ensure the continuity and growth of vital ministries in the region.
This information is meant to be a general summary of Catholic Foundation Of Michigan. 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: $1,044,078
- Gross Receipts: $37,488,592
Assets and Liabilities:
- Total Assets: $38,406,383
- Total Liabilities: $23,628,727
- Net Assets: $14,777,656
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Organization Details
Founding Year
2016
Phone
(248) 204-0332Principal Officer
Angela Moloney
Main Address
1145 W LONG LAKE ROAD 201, BLOOMFIELD HILLS, MI, 48302
NTEE Category
Code: X12 - Religion related
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