2023-05-09T15:03:56-05:00 2022-06-30 010494526 Baker Newman & Noyes PO Box 507 Portland ME 04112 990 2021-07-01 770612679 The Catholic Foundation of Maine CATH 2077736471 PO Box 799 Portland ME 04104 Scott Graff CFO & Treasurer 2077736471 2023-05-03 1 Scott Graff 999009999 Connor Smart P02285543 2078792100 2023-05-03 3 AAL1 IAL1 2021 2023-04-26 12:10:37Z Bishop Robert Deeley JCD PO Box 799 Portland ME 04104 25078826 0 X www.catholicfoundationmaine.org X 2003 ME To provide opportunities to charitably invest through donations or gifts to endowments. 9 7 3 10 0 0 1750199 918296 0 0 3656177 1820716 0 0 5406376 2739012 1048787 924300 0 0 200294 201454 0 0 196976 415328 496432 1664409 1622186 3741967 1116826 37809317 32450592 14262 34452 37795055 32416140 The Catholic Foundation of Maine offers opportunities to charitably invest through donations or gifts to endowments. 0 0 924300 924300 0 The Catholic Foundation of Maine maintains and administers endowments for the benefit of parishes, clergy, students, education, ministries, and organizations. New ministry program endowment funds during the filing period 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, Peter P. and Marjorie S. Clifford Endowed Fund for the benefit of Prince of Peace Parish, D.J. Caron, Jr. Youth Ministry Endowment for the Parish of the Precious Blood, and the Sekenger Council 1947 Knights of Columbus Endowment. 924300 1 1 0 0 0 1 0 0 0 1 0 1 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 1 0 0 0 1 6 0 1 3 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 7 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 0 1 0 0 ME X Scott Graff CFO & Treasurer 2073217823 PO Box 799 Portland ME 04104 Bishop Robert Deeley JCD President 1.00 41.00 X X 0 45424 39375 Scott Graff Treasurer 1.00 41.00 X X 0 172664 18993 Michael Anderson Director (end 7/2021) 1.00 0.00 X 0 0 0 Lori Boulay Director 1.00 0.00 X 0 0 0 MaryEllen FitzGerald Director (end 9/2022) 1.00 0.00 X 0 0 0 Phil Morissette Director 1.00 0.00 X 0 0 0 Aaron Morris Director 1.00 0.00 X 0 0 0 Martha Muldoon Director 1.00 0.00 X 0 0 0 Joseph Powers Chairman 1.00 0.00 X X 0 0 0 Anthony Manhart Vice Chairman 1.00 0.00 X X 0 0 0 David Caron Vice Chairman (end 9/2021) 1.00 0.00 X X 0 0 0 Nick McCrum Secretary 1.00 0.00 X X 0 0 0 Elizabeth Badger Executive Director 40.00 0.00 X 0 104825 11531 0 322913 69899 0 0 1 0 0 918296 22228 918296 829251 829251 23331279 22339814 991465 991465 991465 2739012 0 0 1820716 924300 924300 162448 32492 129956 26654 5331 21323 12352 2471 9881 337091 337091 61779 61779 27920 27920 13459 8752 4707 3189 3189 52994 52994 1622186 924300 500910 196976 503937 1028001 3859044 2830075 44292 43543 1117 0 33400927 25196867 3352106 37809317 32450592 5978 24382 8284 10070 14262 34452 X 2686769 2477087 35108286 29939053 37795055 32416140 37809317 32450592 X 1116826 -6493591 -2150 X X 0 1 X 1 0 X 516372 322737 623103 475391 492212 2429815 516372 322737 623103 475391 492212 2429815 271198 2158617 283740 874935 860343 791937 829251 3640206 6070021 0.35560 0.31580 X Schedule A, Part VI, List of Unusual Grants: Description: Estate Bequest (cash) Date: 06/30/21 Amount: 1274808. Description: Estate Bequest (cash) Date: 05/12/22 Amount: 426084. RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 7 17089 3300 1009000 1 1 37207904 853879 -5009966 1039896 337091 31674830 29171124 1749926 7775124 1162351 325919 37207904 28719949 742036 1230622 1250354 271129 29171124 28239813 240076 1439433 931173 268200 28719949 26950354 510158 1933244 1153943 28239813 0.05480 0.82160 0.12360 0 0 0 Corporate bonds 3352106 F 3352106 Due to affiliates 10070 10070 X -4091670 -6493591 -6493591 2401921 337091 337091 2739012 1287245 2150 2150 1285095 337091 337091 1622186 Part V, Line 4: Endowment funds are primarily used for the benefit of parishes, clergy, students, education, ministries, and organizations. Part X, Line 2: The Foundation is exempt from federal income tax under provision of Section 501(c)(3) of the IRC. Tax-exempt organizations could be required to record an obligation for income taxes as the result of a tax position they have historically taken on various tax exposure items including unrelated business income or tax status. Under guidance issued by the Financial Accounting Standards Board (FASB), assets and liabilities are established for uncertain tax positions taken or positions expected to be taken in income tax returns when such positions are judged to not meet the "more-likely-than-not" threshold, based upon the technical merits of the position. Estimated interest and penalties, if applicable, related to uncertain tax positions are included as a component of income tax expense. Management has evaluated the Foundation's tax positions taken on its filed tax returns and concluded that the Foundation has maintained its tax-exempt status, does not have any significant unrelated business income and has taken no uncertain tax positions that require adjustment to the financial statements. Part XII, Line 2d - Other Adjustments: Loss on uncollectible pledges 2,150. 1 Roman Catholic Bishop of Portland PO Box 11559 Portland ME 04104 010212546 501(c)(3) 835800 0 General Assistance Catholic Charities of Maine PO Box 10660 Portland ME 04104 010280225 501(c)(3) 61600 0 General Assistance Cheverus High School 267 Ocean Avenue Portland ME 04103 010211785 501(c)(3) 16200 0 General Assistance 3 0 Part I, Line 2: The Organization only awards grants to qualifying 501(c)(3) public charities; additional monitoring is not deemed necessary. X X 0 0 0 0 0 0 0 0 0 Scott Graff Treasurer 0 172664 0 0 0 0 0 18993 0 0 0 191657 0 0 Form 990, Part VI, Section A, line 6 The Corporation is established by Corporators who together constitute the Board of Corporators. The Corporators shall consist of the individuals who from time to time hold the following positions: the Roman Catholic Bishop of Portland, the Vicar General of the Roman Catholic Bishop of Portland, the Chancellor of the Diocese, the Chair of the Council of Priests of the Diocese, the Chair of the Finance Council of the Diocese, and the Chair of the Pastoral Council of the Diocese. The Bishop shall always serve as the President of the Board of Corporators. No member of the Board of Corporators, except the Roman Catholic Bishop of Portland and any Coadjutor or Auxiliary Bishop, may serve as a trustee of the Foundation. Form 990, Part VI, Section A, line 7a The powers and duties of the Board of Corporators shall include the power to elect and remove members of the Board of Trustees of the Foundation. Form 990, Part VI, Section A, line 7b The following actions by the Board of Trustees are subject to the approval of the Board of Corporators: the appointment or termination of the executive director; recommendations of the Board of Trustees for distribution of unrestricted funds that vary from approved policy; and recommendations of the Board of Trustees for any amendments to the Foundation's bylaws. Additionally, in the event of dissolution or liquidation of the Foundation's assets, the Catholic organization selected as beneficiary to the liquidation is subject to the approval of the Board of Corporators. Form 990, Part VI, Section B, line 11b The Form 990 is reviewed by the Treasurer of the Board before being submitted to the IRS. Form 990, Part VI, Section B, line 12c The Executive Director of the Organization annually collects from all trustees a questionnaire that gathers information on potential conflicts of interest. The conflict of interest policy prohibits any conflicts of interest that are not disclosed. Potential conflicts of interest that are discovered will be referred to the governance committee of the trustees for a decision on the appropriateness of the relevant activity(s) and the relevant trustee's continued tenure on the Board. As of the time of this filing, no conflicts of interest have been discovered. Form 990, Part VI, Section B, line 15a Review and establishment of the compensation and benefits for the organization's executive director is conducted annually by the Catholic Foundation of Maine's board of trustees. Compensation and benefits for all individuals who perform services for the organization is paid by the Catholic Foundation of Maine. Form 990, Part VI, Section C, line 19 Documents that are required to be open for public inspection are made available upon request within the timeframe required by law. Form 990, Part XI, line 9: Loss on uncollectible pledges -2,150. Form 990, Part XII, Line 2C: The audit process has not changed from the prior year. The Foundation has a finance/investment committee that reviews the audits and communicates with the independent auditors. Roman Catholic Bishop of Portland 510 Ocean Avenue Portland ME 04103 010212546 Religious Organization ME 501(c)(3) Line 1 N/A 0 Roman Catholic Diocese of Portalnd Diocesan Priests' Medical Benefits Trust 510 Ocean Avenue Portland ME 04103 844223462 Employee benefit trust ME 501(c)(9) N/A 0 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0 0