CATHOLIC COMMUNITY FOUNDATION

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Financial Vulnerability Assessment (Tuckman-Chang)

4 risk indicators measuring financial stability and operational resilience

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Financial Trends

Organization Details

Formation Year

1999

Legal Domicile

Principal Officer

PATRICK J GRACE

Phone

2166966525

Tax Period

2023-01-01 to 2023-12-31

CATHOLIC COMMUNITY FOUNDATION, founded in 1999, is a mid-sized nonprofit that reported $19.9M in total revenue in fiscal year 2023. Revenue surged 39% from the prior year, signaling strong growth momentum. Expenses of $22.4M exceeded revenue, resulting in a 13% operating deficit.

Mission

CATHOLIC COMMUNITY FOUNDATION'S MISSION IS TO FOSTER FAITH-BASED STEWARDSHIP IN THE COMMUNITY FOR SPIRITUAL, EDUCATIONAL AND CHARITABLE BENEFIT FOR ALL.

Program Service Accomplishments

Program 1

Expenses: $6,859,899 Revenue: $0

IN 2019, THE FOUNDATION INITIATED THE "HEART OF A SHEPHERD CAMPAIGN" TO FUND THE URGENT NEED FOR CAPITAL RENOVATIONS OF BORROMEO SEMINARY AND ST. MARY SEMINARY, TO ADD TO THE PRIESTS' RETIREMENT...

IN 2019, THE FOUNDATION INITIATED THE "HEART OF A SHEPHERD CAMPAIGN" TO FUND THE URGENT NEED FOR CAPITAL RENOVATIONS OF BORROMEO SEMINARY AND ST. MARY SEMINARY, TO ADD TO THE PRIESTS' RETIREMENT FUND, AND TO PROVIDE RELIEF TO NEWLY ORDAINED PRIESTS WHO HAVE STUDENT LOANS OUTSTANDING, AND PROVIDE AN OPPORTUNITY FOR PARISHES ACROSS THE DIOCESE TO RAISE FUNDS FOR PRESSING LOCAL NEEDS. OF THE 179 DIOCESES IN THE UNITED STATES, ONLY 30 HAVE THEIR OWN FREE-STANDING SEMINARY. THERE ARE 81 SEMINARIANS AT BORROMEO AND SAINT MARY SEMINARIES.

Program 2

Expenses: $4,470,747 Revenue: $735,778

THE FOUNDATION ENGAGES IN CHARITABLE FUNDRAISING AND GRANT-MAKING ACTIVITIES TO SUPPORT TUITION ASSISTANCE, CURRICULUM ENHANCEMENT, AND PROGRAMMATIC NEEDS OF CATHOLIC ELEMENTARY AND SECONDARY SCHOOLS AND CATECHETICAL SERVICES. THE CATHOLIC DIOCESE OF CLEVELAND IS THE FIFTH LARGEST CATHOLIC SCHOOL SYSTEM IN THE UNITED STATES, AND THE LARGEST PRIVATE OR PUBLIC SCHOOL SYSTEM IN THE STATE OF OHIO. MORE THAN 39,000 STUDENTS ARE ENROLLED IN 109 CATHOLIC ELEMENTARY AND SECONDARY SCHOOLS IN THE DIOCESE OF CLEVELAND. MORE THAN 4,000 STUDENTS RECEIVE NEED-BASED TUITION ASSISTANCE ANNUALLY.

Program 3

Expenses: $1,684,228 Revenue: $2,267,500

THE FOUNDATION ENGAGES IN CHARITABLE FUNDRAISING AND GRANT-MAKING ACTIVITIES FOR CLEVELAND CATHOLIC DIOCESAN AGENCIES AND INSTITUTIONS. ALTHOUGH NOT SHOWN AS REVENUE ON FORM 990, THE FOUNDATION...

THE FOUNDATION ENGAGES IN CHARITABLE FUNDRAISING AND GRANT-MAKING ACTIVITIES FOR CLEVELAND CATHOLIC DIOCESAN AGENCIES AND INSTITUTIONS. ALTHOUGH NOT SHOWN AS REVENUE ON FORM 990, THE FOUNDATION RAISED $16,355,999 PRIMARILY FOR THE CATHOLIC CHARITIES CORPORATION OF CLEVELAND IN 2023 THROUGH THE FOUNDATION'S ANNUAL APPEAL AND OTHER DONOR GIFTS. CATHOLIC CHARITIES HEALTH AND HUMAN SERVICES IS BUILT AROUND A COMPREHENSIVE APPROACH TO DELIVERING SERVICES CONCENTRATED AROUND FOUR AREAS: CHILDREN AND FAMILIES, BASIC ASSISTANCE, DISABILITIES, AND OLDER ADULTS. CATHOLIC CHARITIES HAS OVER 150 SERVICES AT 60 LOCATIONS THROUGHOUT THE DIOCESE OF CLEVELAND - CUYAHOGA, ASHLAND, GEAUGA, LAKE, LORAIN, MEDINA, SUMMIT, AND WAYNE COUNTIES.

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Trantor Score

Financial Health Score (300–850) · Liquidity · Solvency · Sustainability · Efficiency

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Liquidity (40%) • Solvency (30%) • Sustainability (20%) • Efficiency (10%)

Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $9,343,967

Program Service Revenue $3,258,918

Investment Income $6,989,798

Other Revenue $329,270

TOTAL REVENUE $19,921,953

Expense Breakdown

Grants Paid $19,192,563

Salaries & Benefits $2,250,792

Fundraising Expenses $1,705,824

Program Expenses $20,032,617

Other Expenses $982,894

TOTAL EXPENSES $22,426,249

Year-over-Year Comparison

	2023	2022	Change
Revenue	$19,921,953	$14,298,495	+0.4%
Expenses	$22,426,249	$30,002,501	-0.3%
Net Income	$-2,504,296	$-15,704,006	-0.8%

Key Indicators

✓ Grants to Organizations ✗ Grants to Individuals ✗ Lobbying ✗ Political Activity ✗ Foreign Activities ✓ Donor Advised Fund ✓ Schedule B Required

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Financial Health Indicators

Comprehensive financial analysis: Altman Z-Score, liquidity, solvency, sustainability, efficiency, and growth metrics

Financial Distress Indicator

Liquidity & Cash Position

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Altman Z-Score • Liquidity Ratios • Solvency Analysis • Growth Indicators • Efficiency Metrics

Governance

Voting Members

Independent Members

Employees

Volunteers

Governance Policies

✓ Conflict of Interest Policy

✓ Whistleblower Policy

✓ Document Retention Policy

Special Practices & Reported Activities

✗ Operated a School

✗ Operated a Hospital

✗ Provided First Class Travel

✗ Reported Conflict of Interest

✗ Reported Asset Diversion

✗ Excess Benefit Transaction

✗ Made Political Expenditures

✗ Engaged in Lobbying

✓ Operated Donor Advised Fund

✗ Maintained Art Collections

✗ Filed Form 720

Compensation of Officers, Directors & Key Employees

Total Officers

$227,008

Total Directors

Key Employees

Highest Compensated

reported

Name	Title	Hours/Week	Role	Reportable Comp	Other Comp	Total
ANDREW SCHULER	CHAIR	1.00	Director	$0	$0	$0
ANDREW REBHOLZ	VICE CHAIR & TREASURER	1.00	Director	$0	$0	$0
MARIA O'NEIL RUDDOCK	SECRETARY	1.00	Director	$0	$0	$0
J KEVIN BERNER	DIRECTOR	1.00	Director	$0	$0	$0
DENNIS BODZIONY	DIRECTOR	1.00	Director	$0	$0	$0
REV STEVEN BRUNOVSKY	DIRECTOR	1.00	Director	$0	$0	$0
DIANA MYERSON COLEGROVE	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH CORRIGAN	DIRECTOR	1.00	Director	$0	$0	$0
FRED DEGRANDIS	DIRECTOR	1.00	Director	$0	$0	$0
LORRAINE FRANKINO DODERO	DIRECTOR	1.00	Director	$0	$0	$0
DIANE ROMAN FUSCO	DIRECTOR	1.00	Director	$0	$0	$0
REV VINCENT HAWK	DIRECTOR	1.00	Director	$0	$0	$0
KELLY KEEFE	DIRECTOR	1.00	Director	$0	$0	$0
CHRISTOPHER KELLY	DIRECTOR	1.00	Director	$0	$0	$0
MEGAN KIM	DIRECTOR	1.00	Director	$0	$0	$0
JOHN LEONBRUNO	DIRECTOR	1.00	Director	$0	$0	$0
JOHN LUPICA	DIRECTOR	1.00	Director	$0	$0	$0
JOSEPH MAHOVLIC	DIRECTOR	1.00	Director	$0	$0	$0
JAMES MASON	DIRECTOR	1.00	Director	$0	$0	$0
KURT MCMAKEN	DIRECTOR	1.00	Director	$0	$0	$0
JANICE MURPHY	DIRECTOR	1.00	Director	$0	$0	$0
KURT PACKER	DIRECTOR	1.00	Director	$0	$0	$0
TIMOTHY PANZICA	DIRECTOR	1.00	Director	$0	$0	$0
ANGEL RODREIGUEZ	DIRECTOR	1.00	Director	$0	$0	$0
ROBERT ROGERS	DIRECTOR	1.00	Director	$0	$0	$0
GERALD SCHROER JR	DIRECTOR	1.00	Director	$0	$0	$0
RICHARD SCHULTZ	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL SHAUGHNESSY	DIRECTOR	1.00	Director	$0	$0	$0
ANDRE SMITH	DIRECTOR	1.00	Director	$0	$0	$0
SARAH PHELPS SMITH	DIRECTOR	1.00	Director	$0	$0	$0
GEORGE WASMER	DIRECTOR	1.00	Director	$0	$0	$0
MARGARET WONG	DIRECTOR	1.00	Director	$0	$0	$0
MICHAEL ZIEGLER	DIRECTOR	1.00	Director	$0	$0	$0
PATRICK J GRACE	EXECUTIVE DIRECTOR	40.00	Officer	$192,524	$34,484	$227,008
MARY LOUISE OZIMEK	ASST. EXECUTIVE DIRECTOR	40.00	Highest	$122,798	$10,178	$132,976
FRED ROBERTS	DIR.OF DEVELOP.FOR EDUCATION	40.00	Highest	$110,384	$32,235	$142,619

Note: Compensation data is self-reported by the organization on their Form 990. "Reportable Comp" includes salary, bonuses, and other reportable compensation from the organization and related organizations. "Other Comp" includes benefits, deferred compensation, and non-taxable benefits.

Historical Data

Year	Revenue	Expenses	Assets	Net Income
2024	No data	No data	No data	No data
2023	$19,921,953	$22,426,249	$217,693,619	$-2,504,296
2022	$14,298,495	$30,002,501	$207,218,161	$-15,704,006
2021	$49,958,901	$26,884,806	$245,499,126	$23,074,095
2020	$25,455,450	$16,305,128	$211,839,688	$9,150,322
2019	$21,763,148	$12,819,465	$188,288,187	$8,943,683
2018	$16,975,656	$13,583,866	$153,218,177	$3,391,790