2025-02-21T14:55:18+00:00 2024-04-30 991856619 GRANT THORNTON ADVISORS LLC 1000 WILSON BLVD SUITE 1500 ARLINGTON VA 22209 990 2023-05-01 160911612 Albert E Farone & Angela T Farone Foundation ALBE 2023195606 CARDINAL STATION 620 MICHIGAN AVE Washington DC 20064 Peter Kilpatrick President 2025-02-21 true MARY TORRETTA P00847851 7038477500 2025-02-21 2023 2025-03-06 01:10:19Z Peter Kilpatrick CARDINAL STATION 620 MICHIGAN AVE Washington DC 20064 15659673 false X X 1965 NY THE PRIMARY PURPOSE OF THE FOUNDATION IS TO PROVIDE FUNDS TO SUPPORT THE CHARITABLE, SCIENTIFIC, EDUCATIONAL, LITERARY AND/OR RELIGIOUS PURPOSES OF THE CATHOLIC UNIVERSITY OF AMERICA AND TO AWARD SCHOLARSHIPS TO STUDENTS FROM THE ALBANY DIOCESE OF THE ROMAN CATHOLIC CHURCH WHO ARE ATTENDING THE CATHOLIC UNIVERSITY OF AMERICA. 4 0 0 1 0 0 0 0 0 0 1930174 1883987 0 1930174 1883987 712800 1475300 0 0 0 0 91876 93044 804676 1568344 1125498 315643 39735944 39705307 375 2250 39735569 39703057 THE PRIMARY PURPOSE OF THE FOUNDATION IS TO PROVIDE FUNDS TO SUPPORT THE CHARITABLE, SCIENTIFIC, EDUCATIONAL, LITERARY AND/OR RELIGIOUS PURPOSES OF THE CATHOLIC UNIVERSITY OF AMERICA AND TO AWARD SCHOLARSHIPS TO STUDENTS FROM THE ALBANY DIOCESE OF THE ROMAN CATHOLIC CHURCH WHO ARE ATTENDING THE CATHOLIC UNIVERSITY OF AMERICA. false false 1475300 1475300 0 SCHOLARSHIP PROGRAMS: TO SUPPORT SCHOLARSHIPS FOR STUDENTS ATTENDING THE CATHOLIC UNIVERSITY OF AMERICA. DURING FISCAL YEAR 2024, 112 SCHOLARSHIPS WERE AWARDED. 1475300 true false false false false false false false true false true false false false true false true false false false false false false false false false false true true false false false false false false false false false false false false false true false false false true 0 0 0 false false false false false false false false false false false false X 4 0 false false false false false true false true true false false true true true true true true false false false NY X Peter Kilpatrick 2023195606 620 MICHIGAN AVENUE WASHINGTON DC 20064 PETER KILPATRICK EX-OFFICIO DIRECTOR/PRESIDENT 1.0 41.0 X X 0 633594 51218 ROBERT M SPECTER EX-OFFICIO DIRECTOR/TREASURER 1.0 41.0 X X 0 453291 49982 DAVID AARON DOMINGUEZ EX-OFFICIO DIRECTOR/PROVOST 1.0 41.0 X 0 440352 56327 DEANNE GIPSON MADDEN EX-OFFICIO DIRECTOR/VP ENROLLMENT 1.0 41.0 X 0 306467 32815 FR DAVID LEFORT ELECTED DIRECTOR (Dec. 8/31/2023) 1.0 0.0 X 0 0 0 MATTHEW DOLAN SECRETARY 1.0 41.0 X 0 287676 44709 JOHN H GARVEY EX-OFFICIO/PRESIDENT 1.0 41.0 X 0 426792 49764 JOHN H GARVEY FORMER EX-OFFICIO DIRECTOR/PRESIDENT 1.0 41.0 0 426792 49764 0 2974964 334579 6 false true false 0 0 0 0 0 0 0 515545 515545 0 0 15144128 13775686 1368442 0 1368442 1368442 0 0 0 0 0 1883987 0 0 1883987 1475300 1475300 1755 1755 1126 1126 0 0 0 0 ENDOWMENT ADMINISTRATION FEE 89413 89413 STATE REGISTRATION FEE 750 750 0 0 0 0 1568344 1475300 93044 0 904 154 1159935 1294186 0 0 0 0 0 0 0 0 0 38575105 38410967 0 0 0 39735944 39705307 375 2250 0 0 0 0 375 2250 39735569 39703057 39735569 39703057 39735944 39705307 315643 -348155 0 X false true X true false X X 1 THE CATHOLIC UNIVERSITY OF AMERICA 530196583 2 true 1475300 0 1 1475300 0 true false false false false false false false false false false false false false false true false 38563018 1667661 1475300 254999 89413 38410967 36624644 2902811 758924 205513 38563018 39351189 0 -1838387 705065 705 182388 36624644 31305632 0 8888897 431015 261726 150599 39351189 32796158 0 -672824 393800 276262 147640 31305632 1.0 0.0 0.0 false true true CATHOLIC UNIVERSITY ENDOWMENT POOL 38410967 F 38410967 0 X Schedule D, Part V, Line 4 Intended uses of endowment funds THE A&A FARONE FOUNDATION'S ENDOWMENT FUNDS ARE USED TO SUPPORT PURPOSES OF THE CATHOLIC UNIVERSITY OF AMERICA AND TO FUND SCHOLARSHIPS. Schedule D, Part X, Line 2 FIN 48 (ASC 740) footnote THE UNIVERSITY FOLLOWS GUIDANCE THAT CLARIFIES THE ACCOUNTING FOR UNCERTAINTY IN TAX POSITIONS TAKEN OR EXPECTED TO BE TAKEN IN A TAX RETURN, INCLUDING ISSUES RELATING TO FINANCIAL STATEMENT RECOGNITION AND MEASUREMENT. THIS GUIDANCE PROVIDES THAT THE TAX EFFECTS FROM AN UNCERTAIN POSITION CAN ONLY BE RECOGNIZED IN THE FINANCIAL STATEMENTS IF THE POSITION IS "MORE-LIKELY-THAN-NOT" TO BE SUSTAINED IF THE POSITION WERE TO BE CHALLENGED BY A TAXING AUTHORITY. THE ASSESSMENT OF THE TAX POSITION IS BASED SOLELY ON THE TECHNICAL MERITS OF THE POSITION, WITHOUT REGARD TO THE LIKELIHOOD THAT THE TAX POSITION MAY BE CHALLENGED. THE UNIVERSITY HAS DETERMINED THAT THERE ARE NO MATERIAL UNCERTAIN TAX POSITIONS THAT REQUIRE RECOGNITION OR DISCLOSURE IN ITS FINANCIAL STATEMENTS. true FARONE FOUNDATION SCHOLARSHIPS 112 1475300 Schedule I, Part I, Line 2 Procedures for monitoring use of grant funds. ALL SCHOLARSHIPS ARE OFFERED BASED ON MANUAL AND/OR ELECTRONIC VERIFICATION OF ELIGIBILITY CRITERIA. THE SYSTEM DISBURSEMENT OF THE SCHOLARSHIPS TO THE STUDENTS' ACCOUNTS OCCUR ONLY AFTER GLOBAL AND ITEM TYPE SPECIFIC DISBURSEMENT ELIGIBILITY RULES ARE MET. UPON DISBURSEMENT, PAYMENT ALLOCATION RULES IN THE SYSTEMS ALLOCATE SCHOLARSHIPS TO APPROPRIATE PREDEFINED CHARGES. AFTER DISBURSEMENT, AUDITS ARE DONE AT VARIOUS TIME INTERVALS TO DETERMINE CONTINUED ELIGIBILITY. false false false false false false false false false JOHN H GARVEY EX-OFFICIO/PRESIDENT 0 369561 0 53352 0 3879 0 33000 0 16764 0 476556 0 0 ROBERT M SPECTER EX-OFFICIO DIRECTOR/TREASURER 0 449933 0 0 0 3358 0 33000 0 16982 0 503273 0 0 PETER KILPATRICK EX-OFFICIO DIRECTOR/PRESIDENT 0 606736 0 20000 0 6858 0 33000 0 18218 0 684812 0 0 DAVID AARON DOMINGUEZ EX-OFFICIO DIRECTOR/PROVOST 0 434954 0 0 0 5398 0 33000 0 23327 0 496679 0 0 DEANNE GIPSON MADDEN EX-OFFICIO DIRECTOR/VP ENROLLMENT 0 303294 0 0 0 3173 0 30404 0 2411 0 339282 0 0 MATTHEW DOLAN SECRETARY 0 286391 0 0 0 1285 0 29296 0 15413 0 332385 0 0 JOHN H GARVEY FORMER EX-OFFICIO DIRECTOR/PRESIDENT 0 369561 0 53352 0 3879 0 33000 0 16764 0 476556 0 0 Schedule J, Part I, Line 3 AN AFFILIATED ORGANIZATION USED THE FORM 990 OF OTHER ORGANIZATIONS, COMPENSATION STUDIES, AND BOARD OR COMPENSATION COMMITTEE APPROVAL IN ESTABLISHING COMPENSATION OF THE PRESIDENT. Form 990, Part VI, Line 13 A&A FARONE FOUNDATION OPERATES BY THE CATHOLIC UNIVERSITY OF AMERICA'S STANDARDS WITH RESPECT TO THE WHISTLEBLOWER POLICIES. Form 990, Part VI, Line 14 A&A FARONE FOUNDATION OPERATES BY THE CATHOLIC UNIVERSITY OF AMERICA'S STANDARDS WITH RESPECT TO THE DOCUMENT RETENTION AND DESTRUCTION POLICIES. Form 990, Part VI, Line 7a Members or stockholders electing members of governing body THE BOARD OF TRUSTEES OF THE SUPPORTED ORGANIZATION, THE CATHOLIC UNIVERSITY OF AMERICA, HAS THE POWER TO APPOINT THE FARONE FOUNDATION'S BOARD OF DIRECTORS. Form 990, Part VI, Line 11b Review of form 990 by governing body THE FORM 990 WAS SENT TO THE FULL BOARD OF TRUSTEES FOR REVIEW PRIOR TO FILING THE RETURN. THE TRUSTEES WERE GIVEN THE OPPORTUNITY TO REVIEW THE DOCUMENT AND ADDRESS COMMENTS OR QUESTIONS TO MANAGEMENT. Form 990, Part VI, Line 12c Conflict of interest policy A&A FARONE FOUNDATION OPERATES BY THE CATHOLIC UNIVERSITY OF AMERICA'S STANDARDS WITH RESPECT TO THE CONFLICT OF INTEREST POLICIES. THE CATHOLIC UNIVERSITY OF AMERICA'S (AN AFFILIATED ORGANIZATION) COMPLIANCE OFFICE REVIEWS THE CONFLICT OF INTEREST STATEMENTS SUBMITTED BY THE BOARD MEMBERS TO DETERMINE WHETHER ANY MATERIAL FINANCIAL INTERESTS HAVE BEEN DISCLOSED. ANY SUCH INTERESTS WOULD BE INVESTIGATED BY THE UNIVERSITY'S AUDIT COMMITTEE. THERE IS NO FACULTY OR STAFF, AND THE TRANSACTIONS OF THE FOUNDATION ARE LIMITED TO A VERY FEW DEFINED TYPES OF ACTIVITIES. Form 990, Part VI, Line 19 Required documents available to the public THE CONFLICT OF INTEREST POLICY AND CONSOLIDATED AUDITED FINANCIAL STATEMENTS ARE POSTED ON THE UNIVERSITY WEBSITE. THE FOUNDATION'S GOVERNING DOCUMENTS ARE AVAILABLE UPON REQUEST. THE CATHOLIC UNIVERSITY OF AMERICA 620 MICHIGAN AVENUE NE 250 Leahy WASHINGTON DC 20064 530196583 HIGHER EDUCATION DC 501(c)(3) 2 NA false THE CATHOLIC UNIVERSITY OF AMERICA FOUNDATION 620 MICHIGAN AVENUE NE 250 Leahy WASHINGTON DC 20064 521284733 SUPPORT TO THE CATHOLIC UNIVERSITY OF AMERICA DC 501(c)(3) Type I THE CATHOLIC UNIVERSITY OF AMERICA false CHARITABLE REMAINDER TRUST (2) SPLIT INTEREST AGMNT BETHESDA MD 20810 SPLIT INTEREST AGREEMENT MD NA Trust false CHARITABLE REMAINDER TRUST (3) SPLIT INTEREST AGMNT WASHINGTON DC 20001 SPLIT INTEREST AGREEMENT DC NA Trust false false true false false false false false false false false false false false true true true false false false