Catholic Foundation Of Rhode Island in Providence, Rhode Island (RI)

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Catholic Foundation Of Rhode Island
Employer Identification Number (EIN)050401892
Name of OrganizationCatholic Foundation Of Rhode Island
In Care of NameFiscal Office
Address1 Cathedral Sq, Providence, RI 02903-3601
ActivitiesChurch, synagogue, etc, School, college, trade school, etc., Hospital
SubsectionEducational Organization, Religious Organization
Ruling Date03/1946
DeductibilityContributions are deductible
FoundationChurch
OrganizationAssociation
Exempt Organization StatusUnconditional Exemption
Tax Period2012
Assets$50,000,000 to greater
Income$5,000,000 to $9,999,999
Filing Requirement990 - Not required to file (church)
Asset Amount$63,919,775
Amount of Income$8,549,917
Form 990 Revenue Amount$8,549,917
National Taxonomy of Exempt Entities (NTEE)Religion-Related, Spiritual Development: Roman Catholic


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Amount of income in 2012: $8,549,917
This organization: 

 $8,549,917
Other organizations performing similar types of work: 

 $248,829

Assets in 2012: $63,919,775
This organization: 

 $63,919,775
Other organizations performing similar types of work: 

 $277,687

Expenses in 2007: $3,694,315
Catholic Foundation Of Rhode Island: 

 $3,694,315
Other organizations performing similar types of work: 

 $143,595

Income to expenses ratio in 2007: 2.3
This organization: 

 2.3
Other organizations performing similar types of work: 

 1.2

Expenses allocated to program services in 2007: 97.1%
Catholic Foundation Of Rhode Island: 

 97.1%
Other organizations performing similar types of work: 

 97.1%

Grants share in income in 2007: 59.5%
Catholic Foundation Of Rhode Island: 

 59.5%
Other organizations performing similar types of work: 

 41.9%

Financial snapshot ($)

Revenue for 2007

Assets at end of 2007

Expenses for 2007

Functional Expenses for 2007 ($)

Income-Producing Activities for 2007

Revenue, Expenses, and Changes in Net Assets or Fund Balances
2002200520062007
Total revenue$1,544,121$8,733,116$8,685,665$8,549,917
Contributions, gifts, grants, and similar amounts received$1,973,023$4,441,621$3,764,020$5,086,413
Contributions to donor advised funds$0$500
Direct public support$1,657,023$4,441,621$3,764,020$5,085,913
Indirect public support$316,000$0$0$0
Government contributions (grants)$0$0$0$0
Program service revenue including government fees and contracts$0$0$0$0
Membership dues and assessments$0$0$0$0
Interest on savings and temporary cash investments$0$0$0$0
Dividends and interest from securities$747,742$1,094,156$1,156,339$1,340,597
Net rental income or (loss)$0$0$0$0
Gross rents$0$0$0$0
Less: rental expenses$0$0$0$0
Other investment income$0$0$0$0
Gain or (loss) from sales of assets other than inventory$-1,191,237$3,190,317$3,759,370$2,118,518
Gross amount from sales of assets other than inventory$0$3,190,317$3,759,370$2,118,518
Less: cost or other basis and sales expenses$1,191,237$0$0$0
Net income or (loss) from special events and activities$0$0$0$0
Gross revenue$0$0$0$0
Less: direct expenses other than fundraising expenses$0$0$0$0
Gross profit or (loss) from sales of inventory$0$0$0$0
Gross sales of inventory, less returns and allowances$0$0$0$0
Less: cost of goods sold$0$0$0$0
Other revenue$14,593$7,022$5,936$4,389
Total expenses$1,580,865$2,249,816$3,009,269$3,694,315
Program services$1,580,865$2,157,455$2,771,935$3,586,092
Management and general$0$67,361$77,334$83,223
Fundraising$0$25,000$160,000$25,000
Payments to affiliates$0$0$0$0
Net assets or fund balances at end of year$30,460,178$56,403,206$65,440,859$63,919,775
Excess or (deficit) for the year$-36,744$6,483,300$5,676,396$4,855,602
Net assets or fund balances at beginning of year$28,349,761$44,672,635$56,403,206$65,440,859
Other changes in net assets or fund balances$2,147,161$5,247,271$3,361,257$-6,376,686
Statement of Functional Expenses (for 2007)
TotalProgram servicesManagement and generalFundraising
Total functional expenses$3,694,315$3,586,092$83,223$25,000
Grants paid from donor advised funds$3,500
Other grants and allocations$3,392,592
Specific assistance to individuals$0
Benefits paid to or for members$0
Compensation of current officers, directors, key employees, etc.$0$0$0$0
Compensation of former officers, directors, key employees, etc.$0$0$0$0
Compensation and other distributions, not included above, to disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0$0$0
Salaries and wages of employees not included above$0$0$0$0
Pension plan contributions not included above$0$0$0$0
Employee benefits not included above$0$0$0$0
Payroll taxes$0$0$0$0
Professional fundraising fees$0$0$0$0
Accounting fees$4,765$0$4,765$0
Legal fees$0$0$0$0
Supplies$458$0$458$0
Telephone$0$0$0$0
Postage and shipping$0$0$0$0
Occupancy$0$0$0$0
Equipment rental and maintenance$0$0$0$0
Printing and publications$8,000$0$8,000$0
Travel$0$0$0$0
Conferences, conventions, and meetings$0$0$0$0
Interest$0$0$0$0
Depreciation, depletion, etc.$0$0$0$0
Other expenses not covered above$285,000$190,000$70,000$25,000
Balance Sheets
2002200520062007
Total assets$30,540,379$56,419,435$65,641,836$64,168,305
Cash - non-interest-bearing$93,773$17,905$9,162$13,089
Savings and temporary cash investments$0$87,412$45,109$20,112
Accounts receivable less allowance for doubtful accounts$553,437$725,000$698,652$1,424,018
Pledges receivable less allowance for doubtful accounts$0$0$0$0
Grants receivable$0$0$0$0
Receivables from current and former officers, directors, trustees, and key employees$0$0$0$0
Receivables from other disqualified persons (as defined under section 4958(f)(1)) and persons described in section 4958(c)(3)(B)$0$0
Other notes and loans receivable less allowance for doubtful accounts$0$0$0$0
Inventories for sale or use$0$0$0$0
Prepaid expenses and deferred charges$0$3,000$0$0
Investments - publicly-traded securities$60,079,526$58,302,774
Investments - other securities$29,745,169$50,595,404$0$0
Investments - land, buildings, and equipment less accumulated depreciation$0$0$0$0
Investments - other$148,000$0$145,496$145,496
Land, buildings, and equipment less accumulated depreciation$0$0$0$0
Other assets, including program-related investments$0$4,990,714$4,663,891$4,262,816
Total liabilities$80,201$16,229$200,977$248,530
Accounts payable and accrued expenses$5,232$16,229$200,977$248,530
Grants payable$0$0$0$0
Deferred revenue$0$0$0$0
Loans from officers, directors, trustees, and key employees$0$0$0$0
Tax-exempt bond liabilities$0$0$0$0
Mortgages and other notes payable$0$0$0$0
Other liabilities$74,969$0$0$0
Total liabilities and net assets/fund balances$30,540,379$56,419,435$65,641,836$64,168,305
Total net assets or fund balances$30,460,178$56,403,206$65,440,859$63,919,775
Reconciliation of Revenue per Audited Financial Statements With Revenue per Return
2002200520062007
Total revenue$0$0$0$0
Total revenue, gains, and other support per audited financial statements$0$0$0$0
Other expenses$0$0$0$0
Net unrealized gains on investments$0$0$0$0
Donated services and use of facilities$0$0$0$0
Recoveries of prior year grants$0$0$0$0
Other$0$0$0$0
Other revenue$0$0$0$0
Investment expenses$0$0$0$0
Other$0$0$0$0
Reconciliation of Expenses per Audited Financial Statements With Expenses per Return
2002200520062007
Total expenses$0$0$0$0
Total expenses and losses per audited financial statements$0$0$0$0
Other revenue$0$0$0$0
Donated services and use of facilities$0$0$0$0
Prior year adjustments$0$0$0$0
Losses$0$0$0$0
Other$0$0$0$0
Other expenses$0$0$0$0
Investment expenses$0$0$0$0
Other$0$0$0$0
Current Officers, Directors, Trustees, and Key Employees
Total number of officers, directors, and trustees permitted to vote on organization business at board meetings3
Are any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, related to each other through family or business relationships?No
Do any officers, directors, trustees, or key employees listed in Form 990, Part V-A, or highest compensated employees listed in Schedule A, Part I, or highest compensated professional and other independent contractors listed in Schedule A, Part II-A or II-B, receive compensation from any other organizations, whether tax exempt or taxable, that are related to the organization?Yes
Does the organization have a written conflict of interest policy?Yes
Other Information
Did the organization have unrelated business gross income of $1,000 or more during the year covered by this return, and has it filed a tax return on Form 990-T for this year?No
Was there a liquidation, dissolution, termination, or substantial contraction during the year?No
Is the organization related (other than by association with a statewide or nationwide organization) through common membership, governing bodies, trustees, officers, etc., to any other exempt or nonexempt organization?Yes
Direct and indirect political expenditures$0
Did the organization file Form 1120-POL for this year?No
Were substantially all dues nondeductible by members?
Did the organization make only in-house lobbying expenditures of $2,000 or less?
Dues, assessments, and similar amounts from members$0
Section 162(e) lobbying and political expenditures$0
Aggregate nondeductible amount of section 6033(e)(1)(A) dues notices$0
Taxable amount of lobbying and political expenditures$0
Does the organization elect to pay the section 6033(e) tax on the amount above?
If section 6033(e)(1)(A) dues notices were sent, does the organization agree to add the amount above to its reasonable estimate of dues allocable to nondeductible lobbying and political expenditures for the following tax year?
Initiation fees and capital contributions$0
Gross receipts for public use of club facilities$0
At any time during the year, did the organization, directly or indirectly, own a controlled entity within the meaning of section 512(b)(13)?No
Amount of tax imposed on the organization during the year under: section 4911$0
Amount of tax imposed on the organization during the year under: section 4912$0
Amount of tax imposed on the organization during the year under: section 4955$0
Did the organization engage in any section 4958 excess benefit transaction during the year or did it become aware of an excess benefit transaction from a prior year?No
Amount of tax imposed on the organization managers or disqualified persons during the year under sections 4912, 4955, and 4958$0
Amount of tax above, reimbursed by the organization$0
At any time during the tax year, was the organization a party to a prohibited tax shelter transaction?No
Did the organization acquire a direct or indirect interest in any applicable insurance contract?No
Did the supporting organization, or a fund maintained by a sponsoring organization, have excess business holdings at any time during the year?No
Number of employees employed in the pay period that includes March 12, 20060
Analysis of Income-Producing Activities (for 2007)
Unrelated business incomeExcluded by section 512, 513, or 514Related or exempt function income
Business codeAmountExclusion codeAmount
Total$0$0$3,463,504
Program service revenue
Program service revenue 1000000$000$0$0
Program service revenue 2000000$000$0$0
Program service revenue 3000000$000$0$0
Program service revenue 4000000$000$0$0
Program service revenue 5000000$000$0$0
Medicare/Medicaid payments000000$000$0$0
Fees and contracts from government agencies000000$000$0$0
Membership dues and assessments000000$000$0$0
Interest on savings and temporary cash investments000000$000$0$0
Dividends and interest from securities000000$000$0$1,340,597
Net rental income or (loss) from real estate
debt-financed property000000$000$0$0
not debt-financed property000000$000$0$0
Net rental income or (loss) from personal property000000$000$0$0
Other investment income000000$000$0$0
Gain or (loss) from sales of assets other than inventory000000$000$0$2,118,518
Net income or (loss) from special events000000$000$0$0
Gross profit or (loss) from sales of inventory000000$000$0$0
Other revenue000000$000$0$4,389
Information Regarding Taxable Subsidiaries and Disregarded Entities (for 2007)
EIN of corporation, partnership, or disregarded entityPercentage of ownership interestTotal incomeEnd-of-year assets
0%$0$0
0%$0$0
0%$0$0
0%$0$0
Compensation of the Five Highest Paid Employees Other Than Officers, Directors, and Trustees (for 2007)
CompensationContributions to employee benefit plans & deferred compensationExpense account and other allowances
$0$0$0
$0$0$0
$0$0$0
$0$0$0
$0$0$0
Total number of other employees paid over $50,0000
Statements About Activities (for 2007)
Expenses paid or incurred in connection with the lobbying activities$0
Did the organization receive or hold an easement for conservation purposes, including easements to preserve open space, the environment, historic land areas or historic structures?No
Did the organization provide credit counseling, debt management, credit repair, or debt negotiation services?No
Did the organization maintain any donor advised funds?Yes
Did the organization make any taxable distributions under section 4966?No
Did the organization make a distribution to a donor, donor advisor, or related person?No
The total number of donor advised funds owned at the end of the tax year$2
The aggregate value of assets held in all donor advised funds owned at the end of the tax year$64,126
The total number of separate funds or accounts owned at the end of the tax year (excluding donor advised funds included above) where donors have the right to provide advice on the distribution or investment of amounts in such funds or accounts$330
The aggregate value of assets held in all funds or accounts included above at the end of the tax year$58,238,648
Reason for Non-Private Foundation Status
The organization is not a private foundation because it isNot controlled by disqualified persons/supports non private foundation
Type of supporting organizationType I
Support Schedule
2001200420052006
Total$0$0$0$0
Gifts, grants, and contributions received$0$0$0$0
Membership fees received$0$0$0$0
Gross receipts from admissions, merchandise sold or services performed, or furnishing of facilities in any activity that is related to the organization's charitable, etc., purpose$0$0$0$0
Gross income from interest, dividends, amounts received from payments on securities loans (section 512(a)(5)), rents, royalties, and unrelated business taxable income (less section 511 taxes) from businesses acquired by the organization after June 30, 1975$0$0$0$0
Net income from unrelated business activities not included above$0$0$0$0
Tax revenues levied for the organization's benefit and either paid to it or expended on its behalf$0$0$0$0
The value of services or facilities furnished to the organization by a governmental unit without charge. Do not include the value of services or facilities generally furnished to the public without charge$0$0$0$0
Other income$0$0$0$0
Lobbying Expenditures by Electing Public Charities (for 2007)
Total exempt purpose expenditures$0
Total lobbying expenditures$0
Total lobbying expenditures to influence public opinion (grassroots lobbying)$0
Total lobbying expenditures to influence a legislative body (direct lobbying)$0
Other exempt purpose expenditures$0
Lobbying nontaxable amount$0
Grassroots nontaxable amount$0
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Organizations performing similar types of work
IdNameAddressStateEstablishedTotal Income
1Catholic Foundation Of Rhode Island1 Cathedral Sq, Providence, RI 02903-3601RI1946-03$8,549,917
2Shellbourne Inc359 W 200 N, Valparaiso, IN 46385-7728IN1972-12$1,226,681
3Saint Michael And All Angels Foundation Of Dallas8011 Douglas Ave, Dallas, TX 75225-6580TX1940-01$1,207,439
4Sullivan Center Inc643 Dill Ave Sw # 645, Atlanta, GA 30310-4313GA1985-10$849,263
5Trinity Catholic Academy Endowment Fund Inc11 Pine St, Southbridge, MA 01550-1823MA1998-11$604,700
6Servants Of Mary Ministers To The Sick, Ministers To The Sick2131 W 27th St, Los Angeles, CA 90018-3083CA1946-03$537,550
7The Msgr John Henry Disch Foundation, Trappey George J Ttee146 W Main St, New Iberia, LA 70560-3733LA1996-01$442,858
8Women For Faith & Family IncPo Box 300411, Saint Louis, MO 63130MO1986-01$354,790
9Ultramontane Associates Inc206 Marquette Ave, South Bend, IN 46617-1111IN1985-04$337,893
10Seton Media House IncP O Box 269, Gastonia, NC 28053NC1998-04$325,500
11Western Washington Catholic Charismatic RenewalPO BOX 33609, Seattle, WA 98133-0609WA1978-03$248,829
12Sacred Heart Seminary CorporationPO BOX 23825, Green Bay, WI 54305-3825WI1946-03$204,962
13Sisters Of St Joseph, St Paul Center Inc3920 Gus Young Ave, Baton Rouge, LA 70802-1727LA1995-12$198,442
14Rosicrucian Fellowship2222 Mission Ave, Oceanside, CA 92058-2329CA1947-01$145,811
15Twin Cities Catholic ChoralePO BOX 4234, Saint Paul, MN 55104-0234MN1974-03$101,249
16Society Of The Missionaries Of St Francis Xavier220 Nw 2nd Ave, Porltand, OR 97209OR1994-06$44,199
17United Order Of True Sisters Inc660 Linton Blvd Suite6, Delray Beach, FL 33444FL1988-07$40,888
18Totus Tuus Ministries17236 Saint Gertrude Dr, Covington, LA 70435-5628LA1998-12$39,812
19Shrine Of St Joseph Of The Mountains IncPO BOX 267, Yarnell, AZ 85362-0267AZ1996-09$36,764
20Alliance Of Catholic Women Inc517 Middle Rd, E Greenwich, RI 02818-2326RI1995-08$0
Number of organizations performing similar types of work
Alabama1
Arkansas1
Arizona5
California36
Colorado5
Connecticut6
District of Columbia2
Florida12
Georgia4
Hawaii1
Idaho1
Illinois10
Indiana8
Kansas2
Kentucky3
Louisiana9
Massachusetts4
Maryland3
Michigan7
Minnesota2
Missouri8
North Carolina4
North Dakota2
Nebraska1
New Hampshire1
New Jersey6
New Mexico1
Nevada1
New York15
Ohio16
Oregon2
Pennsylvania7
Rhode Island2
Tennessee1
Texas24
Virginia5
Vermont1
Washington5
Wisconsin5
Total229
20 biggest affiliated organizations
AffiliationNameAddressStateEstablishedTotal Income
SubordinateSaint Francis Hospital Inc6600 S Yale Ave, Tulsa, OK 74136-3347OK1946-03$3,970,090,877
SubordinateFranciscan Alliance Inc1515 W Dragoon Trl, Mishawaka, IN 46544-4710IN1946-03$2,596,912,525
SubordinatePeacehealth, Ketchikan Medical Center1115 Se 164th Ave Dept 332, Vancouver, WA 98683-8003WA1965-01$2,090,551,281
SubordinateOsf Healthcare System800 Ne Glen Oak Ave, Peoria, IL 61603-3200IL1946-03$1,896,415,307
SubordinateSt Elizabeth Medical Center Inc1 Medical Village Dr, Edgewood, KY 41017-3403KY1946-03$1,877,972,561
SubordinateProvidence Health System-Southern CaliforniaPO BOX 389672, Seattle, WA 98138-9672WA1946-03$1,724,724,506
SubordinateChristus Health919 Hidden Rdg, Irving, TX 75038-3813TX1946-03$1,654,479,614
SubordinateCatholic Health Initiatives198 Inverness Dr W, Englewood, CO 80112-5202CO1946-03$1,639,118,386
SubordinateCatholic Health Initiatives Colorado, St Anthony North Hospital3025 S Parker Road Suite 510, Aurora, CO 80014-2911CO1946-03$1,621,612,108
SubordinateSt Vincent Hospital & Health Care2001 W 86th St, Indianapolis, IN 46260-1991IN1946-03$1,327,567,131
SubordinateCatholic Healthcare West Southern CaliforniaPO BOX 1507, San Gabriel, CA 91778-1507CA1946-03$1,248,417,601
SubordinateProvidence Medical Research Center101 W 8th Ave, Spokane, WA 99204-2307WA1946-03$1,231,839,049
SubordinateFranciscan Health System1717 S J St, Tacoma, WA 98405-4933WA1946-03$1,205,494,228
SubordinateMount Carmel Health System6150 E Broad St, Columbus, OH 43213-1574OH1946-03$1,198,797,166
SubordinateSsm St Clare Health Center10101 Woodfield Lane, St Louis, MO 63132-2937MO1946-03$1,179,575,580
SubordinateUniversity Of Dayton, Phi Sigma Rho337 Stonemill Road, Dayton, OH 45409OH1976-07$1,170,175,935
SubordinateMercy Hospitals East Communities, Mercy Hospital St Louis645 Maryville Centre Dr Ste 100, Saint Louis, MO 63141-5846MO1946-03$1,107,258,738
SubordinatePresence Hospitals Prv9223 W Saint Francis Rd, Frankfort, IL 60423-8330IL1946-03$1,104,334,849
SubordinateMercy Hospital Springfield645 Maryville Centre Dr Ste 100, Saint Louis, MO 63141-5846MO1946-03$965,658,386
SubordinateSt Francis Hospital United States Catholic Conference100 Port Washington Blvd, Roslyn, NY 11576-1347NY1946-03$949,972,252
Number of affiliated organizations
Alaska87
Alabama75
Arkansas52
Arizona235
California1,063
Colorado200
Connecticut195
District of Columbia121
Delaware35
Florida465
Georgia158
Hawaii41
Iowa402
Idaho30
Illinois817
Indiana365
Kansas230
Kentucky119
Louisiana416
Massachusetts600
Maryland399
Maine72
Michigan426
Minnesota309
Missouri520
Mississippi60
Montana57
North Carolina98
North Dakota148
Nebraska299
New Hampshire97
New Jersey457
New Mexico121
Nevada55
New York1,371
Ohio598
Oklahoma90
Oregon141
Pennsylvania860
Rhode Island94
South Carolina43
South Dakota112
Tennessee80
Texas852
Utah18
Virginia137
Vermont62
Washington195
Wisconsin621
West Virginia92
Wyoming19
International36
Total14,245

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