2015-05-08T10:48:41-05:00 2014-06-30 010494526 BAKER NEWMAN & NOYES PO BOX 507 PORTLAND ME 04112 990 2013-07-01 770612679 The Catholic Foundation of Maine CATH 2073217820 PO Box 799 Portland ME 04104 David Twomey Treasurer 2073217820 2015-04-27 1 Nicholas E Porto P01310283 2078792100 2015-04-27 2013 2016-03-07 17:11:31Z Bishop Robert Deeley PO Box 799 Portland ME 04104 1291921 0 X www.catholicfoundationmaine.org X 2003 ME To provide opportunities for people to charitably invest in Catholic entities in Maine. 15 15 0 16 0 0 761293 675315 0 0 523435 616606 0 0 1284728 1291921 2094013 2198236 0 0 0 0 0 0 235178 267550 314837 2361563 2513073 -1076835 -1221152 24532927 25301212 261740 100508 24271187 25200704 X The mission of the Catholic Foundation of Maine is to provide opportunities to financially support the vitality of parishes and other Catholic organizations, institutions, and ministries within the State of Maine now and in the future. 0 0 2211236 2198236 0 The Catholic Foundation of Maine maintains and administers over 100 endowments for the benefit of parishes, clergy, students, education, ministries, and organizations. Education endowments include:-Adrienne Richard Endowment Fund-Anne Elizabeth Murphy Lampal Fund-Dolard and Priscilla Gendron Scholarship Fund -Fr. Louis Phillips Fund for Catholic Education-G. Michael Welch Endowment Fund-Moira H. Fuller and Robert G. Fuller, Jr. Scholarship Fund-Patricia Siviski Music Endowment Fund-Paul and Florence Michaud Scholarship Fund (St. Dominic Regional High School)-St. Joseph Parish (Lewiston, ME) Legacy Fund-Raymond R. Bedard Endowed Family Scholarship for St. Dominic Academy (new in 2014)Some funds are funded through the Capital Campaign begun in 2008 and include: -Individual Parish Endowments Benefits a Parish's ministries, projects, maintenance, etc.-Life Long Faith Formation Endowments Multicultural Ministry, Presence Radio, Harvest Magazine, Grant Fund, and Youth Ministry.-Priests' Vocation, Formation and Health Seminarian, Formation of Priests, Diocesan Priest' Health Program, Diocesan Priests' Pension Trust, and Vocations. -Catholic Charities St Louis CDC, Emergency Services, Food Distribution, Endowment 2211236 1 1 0 0 0 1 0 0 0 1 0 0 0 0 1 1 1 1 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 0 0 1 0 0 0 0 0 0 0 0 1 6 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 0 X 15 15 0 0 0 0 1 1 1 1 1 0 0 0 1 1 1 0 0 0 0 0 ME X David Twomey Treasurer 2073217820 PO Box 799 Portland ME 04104 Claude Carbonneau Director 1.00 X 0 0 0 Msgr Andrew Dubois Director 1.00 X 0 0 0 Ralph Good Director 1.00 X 0 0 0 James Hanley Director 1.00 X 0 0 0 Daniel Mitchell Director 1.00 X 0 0 0 Doris Ouellette Director 1.00 X 0 0 0 Patricia Phillips-Doyle Director 1.00 X 0 0 0 Rev Bruce Siket Director 1.00 X 0 0 0 Marielle Whelan Director 1.00 X 0 0 0 Eric Wycoff Director 1.00 X 0 0 0 Bishop Robert Deelet President 1.00 X X 0 0 0 Bishop Richard J Malone President (part year) 1.00 X X 0 0 0 Frank Toole Chairman 1.00 X X 0 0 0 William S Richards Vice Chairman 1.00 X X 0 0 0 David Twomey Treasurer 1.00 X X 0 0 0 Anna Lyon Secretary 1.00 X X 0 0 0 Elizabeth Badger Executive Director 40.00 X 85000 0 0 85000 0 0 0 0 0 0 Roman Catholic Diocese of Portland 510 Ocean Avenue Portland ME 04104 Administrative services 234125 1 675315 35420 675315 616606 616606 1291921 0 0 616606 X 2198236 2198236 29041 13000 16041 5743 5743 33684 8605 25079 6612 6612 70 70 5455 5455 Expenses to Diocese 234125 29876 204249 107 107 2513073 2211236 66659 235178 1084205 645100 165846 6130759 2627184 17317963 21860681 0 2401 24532927 25301212 23684 25769 172599 65457 74739 261740 100508 X -237875 -28282 2055762 4184377 22453300 21044609 24271187 25200704 24532927 25301212 -1221152 2150669 0 X X 0 1 X 1 0 X 23878051 2557976 1402089 761293 675315 29274724 23878051 2557976 1402089 761293 675315 29274724 570879 28703845 142766 322123 576391 523435 616606 2181321 31456045 0.91250 0.93430 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 2 10000 0 661577 1 1 23259340 385454 2561575 2534325 23672044 22329318 273432 1314121 657531 23259340 23506494 900810 -23115 2054871 22329318 22587132 250595 826053 157286 23506494 7556965 14686768 405100 61701 22587132 0.00000 0.88900 0.11100 0 0 0 Charitable Gift Annuities 74739 74739 X 3442590 2150669 2150669 1291921 0 1291921 2513073 0 2513073 0 2513073 Part V, Line 4: Endowment funds are part of the Organizations capital campaign. 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, 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. The Foundation is no longer subject to income tax examinations by the U.S. Federal or State tax authorities for years before 2010. 1 Roman Catholic Bishop of Portland PO Box 11559 Portland ME 04104 010212546 501(c)3 1784047 Capital Campaign and General Assistance Catholic Charities of Maine PO Box 10660 Portland ME 04104 010280225 501(c)3 411823 Capital Campaign and General Assistance 2 0 Part I, Line 2: The Organization only awards grants to qualifying 501(c)(3) public charities; additional monitoring is not deemed necessary. X 4 35420 Stock Exchange Price 0 1 1 Part I, Line 32b: The Organization sells contributions of securities through its investment broker. All gifts of securities are sold as soon as administratively possible. Form 990, Part VI, Section A, line 6 The Corporation is established by Incorporators who together constitute the Board of Incorporators. The Incorporators 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 Diocese 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 Incorporators. No member of the Board of Incorporators, 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 Incorporators 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 Incorporators: 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 Incorporators. Form 990, Part VI, Section B, line 11 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 C, line 19 The Organization makes its governing documents, conflict of interest policy, and financial statements available to the public upon request. Form 990, Part IX, Line 24c: All employees of the Foundation are hired and paid through the Roman Catholic Diocese of Portland, an unrelated organization. The Foundation reimburses the Diocese for salaries, benefits and payroll taxes paid to individuals who work for the Foundation. As a result, no salaries or benefits are being reported on Part IX, lines 5-10 and are instead reflected on line 24a as expenses to the Diocese. 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.