COMMUNITY REPORT 2019 Mission The Catholic Foundation of Michigan inspires charitable giving and assists generous donors providing for the long-term needs of Catholic parishes, schools, ministries and other organizations of southeast Michigan. Invest. Serve. Grow. Serve. Invest. EXTRAORDINARY GROWTH AND 2019 INSPIRING COLLABORATION Dear Friends, You need a strong foundation to build something that will last. In 2016, a group of visionary lay leaders established the Catholic Foundation of Michigan. Since then, the Foundation has grown to meet the needs of our community and beyond, building up parishes, strengthening schools and supporting dynamic ministries. We could not have done this good work in our Catholic community without you. In our third year, the Catholic Foundation of Michigan continues to be blessed with generous support from our donors while supporting the ever-growing need of ministries in our area. During 2019, the Foundation’s portfolio grew to nearly $16 million, and since its founding, it has granted over $3 million. This impressive growth is due in large part to the many people who participate in making an impact in our community. When people work together for a shared goal, dynamic energy and enthusiasm is created that leads to a greater outpouring of generosity. Our report this year celebrates that kind of community-based collaboration. This report tells the stories of faithful and generous collaborators who are passionate about a better tomorrow. You are a part of our story. We are grateful for all that you have offered, and we look forward to continuing to work with you for years to come. And for those of you who may be reading this report to learn more about our organization or perhaps considering to partner with us, we whole-heartedly invite you to join us and enter into this dedicated collaboration. In gratitude for those who generously committed to our mission in 2019 and for those who will join in our collaboration in years to come. Angela Moloney Patrick Fehring President and CEO Chair, Board of Directors “So now I am giving you a new commandment: Love each other. Just as I have loved you, you should love each other.” - John 13:34 Your philanthropy is our ministry Giving through the Catholic Foundation provides far-reaching and faith-filled options. Whether you seek to give locally to make a difference in your neighborhood, or look to address broader issues, we have the expertise to assist donors like you to make a lasting impact on what matters most to you. 1 2019 COMPETITIVE IMPACT GRANTS Total Competitive Competitive Grant Grants Distributed Dollars Distributed 40 $111,000 25% 26% 12% 4% Grants Grants by dollars by type 49% distributed 45% 17% 21% Collaborative Granting Creates Dynamic Impact Recognized for its cooperative spirit, International Samaritan received a competitive Catholic Education Social impact grant from the Catholic Foundation to provide service immersion trip and Formation Outreach scholarships to low-income students from Loyola High School Detroit. The students 7 Grants: 18 Grants: will travel to serve members of the “garbage dump communities” where International $23,000 $54,500 Samaritan works. International Samaritan works to change the lives of the world’s most vulnerable people through a blend of hands-on service and advocacy work. Vibrant Amazing Catholic Parish Life Educators “By working hand in hand, both groups will be enriched by one another. We encourage 10 Grants: 5 Grants the visiting students to give of themselves with radical hospitality and learn from the $28,500 $5,000 witness of those who are at the margins. Through these trips, students gain valuable international exposure and a lived experience of Catholic social teaching,” shares Mike Tenbusch, president of International Samaritan. The Foundation gratefully accepts donations Loyola High School educates young men in underserved communities with its unique of any amount to support our granting funds: program of faith formation and rigorous academics. “Loyola is a hidden gem on the • Amazing Catholic Educators Northwest side of Detroit. We are a cornerstone in this community and have had the • Catholic Education & Formation pleasure of molding the minds of some of the world’s future leaders,” Principal Wyatt • Church in the City Jones III said. • Social Outreach Both International Samaritan and Loyola High School hold endowments with the • Spirit of Innovation Catholic Foundation. To learn more, visit catholicfoundationmichigan.org/news • St. Oscar Romero for Latino Ministries 2 • Vibrant Parish Life 2019 Growth 65% 35% 227 Increase in Funds Increase in Annual Grants Distributed 190 from 52 to 86 Contributions Back to the Community Total Donors Totaling $1,208,566 Distributions Back to the Community Number of Grants 2017 50 Grants Total Donors 2018 171 Grants $16,085,026 Invested Assets 2017 50 Donors 2019 227 Grants Under Management Monetary Impact 2018 97 Donors 2017: $4,046,830 2017 $75,500 2019 190 Donors 2018: $7,203,039 2018 $894,202 2019 $1,208,566 SO MANY WAYS YOU CAN GIVE DONOR ADVISED FUNDS GIFT ANNUITY CHARITABLE LIFE ESTATE LIFE INSURANCE ENDOWMENT YOUR ESTATE PLAN CHARITABLE TRUST TO FUND RETIREMENT 3 Statement of Financial Activities for the years ending December 31* Statement of Financial Position 2018 2019 Assets Cash & cash equivalents $123,259 $279,023 Investments $7,203,039 $16,085,265 Prepaid Expenses $4,319 $96,577 Total Assets $7,330,617 $16,460,865 Liabilities & Net Assets Accrued liabilities $4,237 $58,428 Funds held in agency endowments $4,548,868 $10,268,602 Net assets - Unrestricted $2,777,512 $6,133,835 Total Liabilities & Net Assets $ 7,330,617 $16,460,865 Statement of Activities 2018 2019 Revenue, gains & other support Contributions and In-Kind $2,140,034 $4,113,842 Net realized & unrealized gains & losses on investments ($192,692) $493,964 Interest & dividends $40,029 $87,260 Administrative fee revenue $22,051 $95,341 Total Revenue $2,009,422 $4,790,407 Expenses Program grants and expenses $983,362 $1,030,764 Support services $188,159 $403,320 Total Expenses $1,171,521 $1,434,084 Change in Assets 2018 2019 Increase in Net Assets $837,901 $3,356,323 Net Assets (Deficit) - Beginning of year $1,939,611 $2,777,512 Net Assets (Deficit) - End of year $2,777,512 $6,133,835 INVESTMENT POLICY: The Foundation supports organizations whose activities are consistent with Catholic values. All of the funds entrusted to the Catholic Foundation of Michigan are invested in a manner consistent with the Socially Responsible Investment Guidelines outlined by the United States Conference of Catholic Bishops. Donors can be assured that all fund distributions will be granted to charitable organizations whose mission and values are consistent with the Catholic faith. DISTRIBUTION POLICY: The policy is reviewed annually by the Board of Directors. The Foundation’s policy is to distribute an amount up to 5% of the average market value over 12 rolling quarters. 4 AUDITED FINANCIAL STATEMENTS: Annually audited financial statements are available upon request. * The above financials are preliminary unaudited. Audited financial statements are available at CatholicFoundationMichigan.org Total Funds Endowments: $12,491,470 86 and Endowments Donor Advised Funds: $2,358,866 30 Organizational Endowments Investment Granting Funds: $512,072 Assets Under Management Donor Designated Endowments Donor Designated: $626,682 $16,085,265 10 Ministry Support and 33 Donor Advised Funds Temporarily Restricted: $96,175 FUND TYPES 14.5% 10% 4 Donor Designated Funds 7 Granting Funds 45% 38% Grants by dollars Grants by type 52% 2 Short Term Endowments 227 Total Grants distributed $1,208,566 Total 40.5% 1,501% Growth in Giving Since 2017 Catholic Education Social Vibrant and Formation Outreach Parish Life 2017 2018 102 Grants: 92 Grants: 33 Grants: Total Grants Total Grants 2019 Total Grants $457,790 $624,676 $126,100 $75,500 $894,202 $1,208,566 5 THERE IS STRENGTH IN NUMBERS The Catholic Foundation offers Catholics a way to leave a legacy uniquely aligned with our values and beliefs. Each fund listed was established by a Catholic organization, parish, school, individual, or donor family. Each was created to meet the unique charitable goals of the donor or institution. ENDOWMENTS FOR EDUCATION Sr. Mary Timothy Mercy High School Tuition Ste. Anne de Detroit Restoration and Maintenance Assistance Fund* - Provides tuition assistance Endowment - Supports restoration and maintenance of the church building Augustinian Scholarship Endowment for Austin Catholic St. Anselm School Endowment - Supports the school’s High School - Provides tuition assistance ongoing operational and maintenance needs St. Fabian Parish Endowment - Support the parish’s ministries and mission Austin Catholic Prep Detroit, Class of 1963 Scholarship St. Fabian Catholic School Fund for the Future Endowment Endowment for Austin Catholic High School - Supports the school’s ministries and mission St. Kieran Catholic Church Endowment - Provides for - Provides tuition assistance the parish’s needs St. Linus Catholic School Assistance Fund Divine Child High School Tuition Assistance Endowment - Offsets the cost of Catholic education and benefits St. Regis Parish Legacy Fund* - Supports the parish’s - Offsets the cost of Catholic education and benefits the the school’s mission needs, ministries and mission school’s mission St. Regis Catholic School Endowment Fund* Fr. John Riccardo OLGC Parish School Legacy Fund - Supports the school’s needs, ministries and mission ENDOWMENTS