CATHOLIC FINANCIAL LIFE

EIN: 390201015

MILWAUKEE, WI

Total Revenue
$161,829,151
Total Expenses
$151,748,838
Total Assets
$1,731,339,776
Net Assets
$138,363,367
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
1885
Legal Domicile
WI
Principal Officer
Kari R Diestelhorst
Phone
4142736266
Tax Period
2023-01-01 to 2023-12-31

CATHOLIC FINANCIAL LIFE, founded in 1885, is a major nonprofit that reported $161.8M in total revenue in fiscal year 2023. Revenue surged 27% from the prior year, signaling strong growth momentum. Expenses of $151.7M left a modest 6% surplus.

Mission

Catholic Financial Life, a faith-based membership organization, puts Catholic values in action by serving God through serving others, providing financial security and enhancing quality of life.

Program Service Accomplishments

Program 1
Expenses: $150,362,421 Revenue: $161,828,951

Financial Security: The Society operates to provide its members long term financial security through the offering of individual life insurance and annuity products. Members are served by a network of...

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Financial Security: The Society operates to provide its members long term financial security through the offering of individual life insurance and annuity products. Members are served by a network of Financial Advisors that provide financial planning, estate planning and other financial services. Each member has access to their financial products and information through their own Financial Service Advisors and/or Home Office Member Services Representative.

Program 2
Expenses: $1,386,417 Revenue: $1,730

Fraternal Benefits & Community Outreach: The Society exists to benefit its members and community in non-financial ways. This includes faith based education, fraternal social events and community...

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Fraternal Benefits & Community Outreach: The Society exists to benefit its members and community in non-financial ways. This includes faith based education, fraternal social events and community outreach. The Society is committed to provide fraternal benefits including child cancer and orphan benefits, will preparation benefit and the coordination and support of community service. In addition to monetary contributions, over 78,500 hours of service were donated to support various Diocesan and community programs and events in 2023 valued at nearly $2.5 million.

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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%)

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Financial Overview (2023)

Revenue Breakdown

Contributions & Grants $1,730
Program Service Revenue $84,939,256
Investment Income $71,796,129
Other Revenue $5,092,036
TOTAL REVENUE $161,829,151

Expense Breakdown

Grants Paid $1,168,381
Salaries & Benefits $10,036,385
Fundraising Expenses $0
Program Expenses $151,748,838
Other Expenses $17,683,977
TOTAL EXPENSES $151,748,838

Year-over-Year Comparison

2023 2022 Change
Revenue $161,829,151 $127,605,313 +0.3%
Expenses $151,748,838 $118,686,636 +0.3%
Net Income $10,080,313 $8,918,677 +0.1%
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

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Liquidity & Cash Position

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Governance

Voting Members
12
Independent Members
10
Employees
135
Volunteers
11948

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
9
$2,369,943
Total Directors
11
$926,833
Key Employees
0
$0
Highest Compensated
5
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
John T Borgen President and Chief Executive Officer 45
Officer Director
$434,536 $50,795 $485,331
Kari R Diestelhorst Chief Financial Officer 45
Officer
$265,323 $47,542 $312,865
Rogelio Cabral Vice President Sales 45
Officer
$255,877 $42,243 $298,120
Joseph K Kohut Director of Brokerage Operations 45
Highest
$242,822 $43,666 $286,488
Michael J Attewell Chief Information Officer 45
Officer
$244,174 $10,230 $254,404
Michael C Eyrich SVP Membership 45
Officer
$209,353 $44,241 $253,594
Sara J Walker Vice President Investments 45
Officer
$201,690 $25,050 $226,740
Linda M Hanson Vice President of Actuarial 45
Officer
$214,810 $10,577 $225,387
Peter L Duellman Director of Actuarial and Analytics 45
Highest
$206,702 $12,349 $219,051
Kristen L Mueller Secretary and Vice President Human Resources 45
Officer Director
$192,017 $22,485 $214,502
Cynthia E Feld Controller 45
Highest
$140,888 $39,935 $180,823
Jake G Maliszewski Director of Financial Planning & Analysis 45
Highest
$147,744 $26,024 $173,768
Eric J Atkins IT Operations Team Lead 45
Highest
$129,737 $20,533 $150,270
William R O'Toole Director & Former Chief Executive Officer 3.00
Officer
$98,000 $1,000 $99,000
Allan G Lorge Director and Board Chair 4
Director
$42,500 $0 $42,500
Kari L Niedfeldt-Thomas Director 3.00
Director
$26,500 $0 $26,500
Jeffrey B Tilley Director 3
Director
$23,000 $0 $23,000
Joseph G Kopinski Director 3
Director
$23,000 $0 $23,000
Sandra T Dempsey Director 3
Director
$23,000 $0 $23,000
Susan M Obermiller Director 3
Director
$23,000 $0 $23,000
Coral M Grout Director 3
Director
$22,000 $0 $22,000
Lisa A Mick Director 3
Director
$22,000 $0 $22,000
Michael A Giffhorn Director 3
Director
$22,000 $0 $22,000
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 $161,829,151 $151,748,838 $1,731,339,776 $10,080,313
2022 $127,605,313 $118,686,636 $1,688,153,935 $8,918,677
2021 $138,292,152 $127,105,719 $1,696,774,589 $11,186,433
2020 $141,566,619 $127,613,237 $1,683,228,815 $13,953,382
2019 $154,766,865 $146,089,742 $1,678,942,715 $8,677,123
2018 $156,982,865 $142,675,339 $1,653,316,399 $14,307,526
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