2013-05-14T07:37:27-05:00 2012-06-30 010494526 BAKER NEWMAN & NOYES PO BOX 507 PORTLAND ME 04112 990 2011-07-01 770612679 The Catholic Foundation of Maine CATH 2073217894 PO Box 799 Portland ME 04104 David Twomey 2073217894 2013-05-08 1 Nicholas E Porto P01310283 2078792100 2011 2016-02-25 16:41:14Z Bishop Richard J Malone PO Box 799 Portland ME 04104 1978480 0 X www.catholicfoundationmaine.org X 2003 ME To provide opportunities for people to charitably invest in Catholic entities in Maine. 18 18 0 20 0 0 2557976 1402089 0 0 322123 576391 0 0 2880099 1978480 3092681 2089933 0 0 0 0 0 0 279765 2825145 3690606 5917826 5780539 -3037727 -3802059 29649775 24758451 1104428 362555 28545347 24395896 To provide opportunities for people to charitable invest in Catholic entities in Maine-for the long term. 0 0 5294089 2089933 Grants made to nonprofit organizations, including the Roman Catholic Diocese of Portland, parishes, schools, and other organizations. 5294089 1 1 0 0 0 0 0 0 0 1 0 0 0 0 1 1 1 0 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 0 1 0 0 0 0 0 0 0 0 0 0 0 0 0 X 18 18 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 1.00 X 0 0 0 Msgr Andrew Dubois 1.00 X 0 0 0 Walter Elish 1.00 X 0 0 0 Dolores Foster 1.00 X 0 0 0 Ralph Good 1.00 X 0 0 0 Thomas Gruber 1.00 X 0 0 0 James Hanley 1.00 X 0 0 0 Dr Joseph Lee part year 1.00 X 0 0 0 Anna Lyon 1.00 X 0 0 0 Martha Muldoon 1.00 X 0 0 0 William S Richards 1.00 X 0 0 0 Father Bruce Siket 1.00 X 0 0 0 Rev John Skehan part year 1.00 X 0 0 0 Harold Smith III 1.00 X 0 0 0 Marielle Whelan 1.00 X 0 0 0 Eric Wycoff 1.00 X 0 0 0 Bishop Richard J Malone 1.00 X X 0 0 0 Scott Johnson 1.00 X X 0 0 0 Frank Toole 1.00 X X 0 0 0 David Twomey 1.00 X X 0 0 0 Christopher Reilly part year 40.00 X 77086 0 15322 77086 0 15322 0 0 0 0 Roman Catholic Diocese of Portland 510 Ocean Avenue Portland ME 04104 Administrative services 288567 1 1402089 150113 1402089 576391 576391 1978480 0 0 576391 2089933 2089933 124560 124560 26486 16156 10330 13595 13595 29323 6534 22789 57 57 1018 1018 15530 15530 Prov. for Pledge Losses 3188000 3188000 Expenses to Diocese 288567 45203 243364 3470 3453 17 5780539 5294089 206685 279765 59221 927187 1454585 17028277 9902799 11082285 13928465 25407 0 29649775 24758451 47157 6151 551433 481889 314207 23949 42197 1104428 362555 X -509286 -708294 5874596 2947263 23180037 22156927 28545347 24395896 29649775 24758451 X -3802059 -347392 X X 0 1 1 X 0 X 879360 7835170 23878051 2557976 1402089 36552646 879360 7835170 23878051 2557976 1402089 36552646 890614 35662032 84514 56185 142766 322123 576391 1181979 37734625 0.94510 0.96850 X RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED RESTRICTED 0 0 23506494 900810 -23115 2054871 22329318 22587132 250595 826053 157286 23506494 7556965 14686768 405100 61701 22587132 4089043 4096528 -584087 44519 7556965 0.00000 0.98440 0.01560 0 0 0 Charitable Gift Annuities 42197 42197 1978480 5780539 -3802059 -347392 -347392 -4149451 1506528 -347392 -347392 1853920 124560 124560 1978480 5655979 0 5655979 124560 124560 5780539 Description of Intended Use of Endowment Funds: Part V, Line 4: Endowment funds are part of the Organization's capital campaign. Description of Uncertain Tax Positions Under FIN 48: Part X: 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 2008. 1 Roman Catholic Bishop of Portland PO Box 11559 Portland ME 04104 010212546 501(c)3 1551670 Capital Campaign Catholic Charities PO Box 10660 Portland ME 04104 010280225 501(c)3 536102 Capital Campaign 2 0 Procedure for Monitoring Grants in the U.S.: Part I, Line 2: Schedule I, Part I, Line 2: The Organization only awards grants to qualifying 501(C)3 public charities; additional monitoring is not deemed necessary. X 19 150113 Stock Exchange Price 0 1 1 Third Party Use: 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 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 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 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 is 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 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. Changes in Net Assets or Fund Balances: Form 990, Part XI, line 5: Net unrealized losses on investments: -347,392. Financial Statements and Reporting Form 990, Part XI, 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. Reimbursed Expenses to the Diocese 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 expensed on Part IX, lines 5-10.