THE FOUNDATION OF THE ROMAN CATHOLIC DIOCESE OF RALEIGH INC

EIN: 831609483 501(c)(3)

RALEIGH, NC

Total Revenue
$3,058,479
Total Expenses
$3,162,527
Total Assets
$72,625,930
Net Assets
$71,621,434
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Financial Vulnerability Assessment (Tuckman-Chang)

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Financial Trends

Organization Details

Formation Year
2018
Legal Domicile
NC
Principal Officer
MAUREEN O'KEEFFE LINDGREN
Phone
9195681065
Tax Period
2022-07-01 to 2023-06-30

THE FOUNDATION OF THE ROMAN CATHOLIC DIOCESE OF RALEIGH INC, founded in 2018, is a community nonprofit that reported $3.1M in total revenue in fiscal year 2022. Revenue fell 84% from the prior year — a significant decline worth monitoring. Net assets of $71.6M represent 281 months of operating reserves.

Mission

THE FOUNDATION WAS FORMED TO CULTIVATE ENDOWED AND MAJOR GIFTS FOR THE LONG-TERM BENEFIT OF THE MINISTRIES OF THE DIOCESE OF RALEIGH WHILE PROVIDING EFFECTIVE AND EFFICIENT MANAGEMENT AND DISTRIBUTION OF INVESTED FUNDS.

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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 (2022)

Revenue Breakdown

Contributions & Grants $1,994,483
Program Service Revenue $0
Investment Income $1,063,996
Other Revenue $0
TOTAL REVENUE $3,058,479

Expense Breakdown

Grants Paid $2,297,084
Salaries & Benefits $425,879
Fundraising Expenses $284,869
Program Expenses $2,396,526
Other Expenses $439,564
TOTAL EXPENSES $3,162,527

Year-over-Year Comparison

2022 2021 Change
Revenue $3,058,479 $19,156,284 -0.8%
Expenses $3,162,527 $3,300,049 0.0%
Net Income $-104,048 $15,856,235 -1.0%
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

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Liquidity & Cash Position

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Governance

Voting Members
7
Independent Members
7
Employees
5
Volunteers
7

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
4
$128,761
Total Directors
7
$0
Key Employees
0
$0
Highest Compensated
0
reported
Name Title Hours/Week Role Reportable Comp Other Comp Total
TIMOTHY A MANN PRESIDENT 3.00
Officer Director
$0 $0 $0
JOHN W BYRNE VICE PRESIDENT 3.00
Officer Director
$0 $0 $0
H DEAN PENNY SECRETARY/TREASURER 3.00
Officer Director
$0 $0 $0
MICHAEL GOODMON BOARD MEMBER 3.00
Director
$0 $0 $0
ANNE W STAHEL BOARD MEMBER 3.00
Director
$0 $0 $0
RICARDO HERRERA BOARD MEMBER 3.00
Director
$0 $0 $0
VERY REVEREND MICHAEL J BURBECK VG BOARD MEMBER 3.00
Director
$0 $0 $0
MAUREEN O'KEEFFE LINDGREN EXECUTIVE DIRECTOR 40.00
Officer
$108,902 $19,859 $128,761
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
2023 $3,058,479 $3,162,527 $72,625,930 $-104,048
2022 $19,156,284 $3,300,049 $68,615,625 $15,856,235
2021 $2,802,448 $3,735,674 $76,385,050 $-933,226
2020 $3,895,212 $2,456,060 $60,802,291 $1,439,152
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