2024-05-09T14:47:30-05:00 2023-06-30 010494526 Baker Newman & Noyes PO Box 507 Portland ME 04112 990 2022-07-01 770612679 The Catholic Foundation of Maine CATH 2077736471 PO Box 799 Portland ME 04104 Scott Graff CFO & Treasurer 2077736471 2024-05-08 1 Scott Graff 999009999 0 Connor Smart P02285543 2078792100 2024-05-08 3 AAL1 IAL1 2022 2023-04-26 12:10:37Z Bishop Robert Deeley JCD PO Box 799 Portland ME 04104 54638930 0 X www.catholicfoundationmaine.org X 2003 ME To provide opportunities to charitably invest through donations or gifts to endowments. 9 6 5 8 0 0 918296 2897647 0 0 1820716 519728 0 0 2739012 3417375 924300 958700 0 0 201454 205928 0 0 207321 496432 498334 1622186 1662962 1116826 1754413 32450592 37852248 34452 40078 32416140 37812170 The Catholic Foundation of Maine offers opportunities to charitably invest through donations or gifts to endowments. 0 0 958700 958700 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 Cross School IMO Wendi S. Leavitt fund; the Lisa Eid Scholarship Endowment; the Fr. John R. Skehan Endowment for St. Michael School tuition fund; the St. Mary of the Isles, Isleboro, Endowment; and the Fr. Arthur J. Dub-Emma J. Rossignol Child Care Endowment. 958700 1 1 0 0 0 0 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 1 0 0 0 0 1 0 0 0 1 9 0 1 5 1 0 0 0 0 0 0 0 0 0 0 0 0 X 9 6 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 0 1 1 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 46962 38497 Scott Graff CFO & Treasurer 1.00 41.00 X X 0 177872 19566 Msgr Marc B Caron Director 1.00 40.00 X 0 37386 23203 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 Michael Malloy Director (end 6/2023) 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 Anthony Manhart Chairman 1.00 0.00 X X 0 0 0 Nick McCrum Secretary 1.00 0.00 X X 0 0 0 Alex Sharp Vice Chairman 1.00 0.00 X X 0 0 0 Elizabeth Badger Executive Director 40.00 0.00 X 0 107398 12956 0 369618 94222 0 0 1 0 0 2897647 314077 2897647 1072373 1072373 50668910 51221555 -552645 -552645 -552645 3417375 0 0 519728 958700 958700 156293 31257 125036 37978 7596 30382 11657 2331 9326 326374 326374 71058 71058 32379 32379 11053 5359 5694 4504 4504 52966 52966 1662962 958700 496941 207321 1028001 718258 2830075 4554108 43543 35067 25196867 26373079 3352106 6171736 32450592 37852248 24382 23369 10070 16709 34452 40078 X 2477087 2669535 29939053 35142635 32416140 37812170 32450592 37852248 1754413 3641617 0 X X 0 1 X 1 0 X 322737 623103 475391 492212 2897647 4811090 322737 623103 475391 492212 2897647 4811090 1612193 3198897 874935 860343 791937 829251 1072373 4428839 9239929 0.34620 0.35560 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 1 1 31674830 2897647 3834971 1078962 326374 37002112 37207904 853879 -5009966 1039896 337091 31674830 29171124 1749926 7775124 1162351 325919 37207904 28719949 742036 1230622 1250354 271129 29171124 28239813 240076 1439433 931173 268200 28719949 0.05025 0.78158 0.16817 0 0 0 Corporate bonds 4184501 F Municipal bonds 704347 F Mortgage and asset-backed securities 1282888 F 6171736 Due to affiliates 16709 16709 X 6732618 3641617 3641617 3091001 326374 326374 3417375 1336588 0 1336588 326374 326374 1662962 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. 1 Roman Catholic Bishop of Portland PO Box 11559 Portland ME 04104 010212546 501(c)(3) 876500 0 General Assistance Catholic Charities of Maine PO Box 10660 Portland ME 04104 010280225 501(c)(3) 55400 0 General Assistance Cheverus High School 267 Ocean Avenue Portland ME 04103 010211785 501(c)(3) 14400 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. 0 0 0 0 0 0 0 0 0 Scott Graff CFO & Treasurer 0 177872 0 0 0 0 0 19566 0 0 0 197438 0 0 Part I, Line 3 The Foundation's President, Executive Director, and Treasurer & CFO receive their compensation and benefits from a related organization and sole member of the Foundation, the Roman Catholic Diocese of Portland (RCDP). Amounts paid to compensate any professional service-staff or employee of the RCDP is determined through market research, and any annual increases are subject to approval by the presiding Bishop. The presiding Bishop, in conjunction with his Priest Council, conducts a review and issues final approval for any compensation paid to persons providing religious services. The Bishop's compensation is subject to review by the RCDP's Board and its councils. Compensation and benefits paid to those persons who are employees of the Foundation is determined by the Foundation's Executive Director in conjunction with the RCDP and RCDP executive officers. X 4 314077 Gift Date FMV 0 1 1 Part I, Line 32b: The Foundation coordinates with third-party investment advisors and its parent-organization, the Roman Catholic Bishop of Portland, to process, manage, and sell any non-cash contributions as they are received. 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 15 The Foundation's President, Executive Director, and Treasurer & CFO receive their compensation and benefits from a related organization and sole member of the Foundation, the Roman Catholic Diocese of Portland (RCDP). Amounts paid to compensate any professional service-staff or employee of the RCDP is determined through market research, and any annual increases are subject to approval by the presiding Bishop. The presiding Bishop, in conjunction with his Priest Council, conducts a review and issues final approval for any compensation paid to persons providing religious services. The Bishop's compensation is subject to review by the RCDP's Board and its councils. Compensation and benefits paid to those persons who are employees of the Foundation is determined by the Foundation's Executive Director in conjunction with the RCDP and RCDP executive officers. 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 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 St Michael's Home 510 Ocean Avenue Portland ME 04103 510240721 Housing services ME 501(c)(3) N/A 0 0 1 0 1 0 0 0 0 0 0 0 1 0 1 1 0 0 0 0