Catholic Schools Foundation
Legal name: Catholic Schools Foundation Inc
Nonprofit profile at a glance
- EIN
- 222485502
- IRS 990 coverage
- 2009–2024
- Official website data refreshed
- Sep 2026
- Forms available
- Form 990 2024
- Location
- Boston, MA, United States
- Phone
- (617) 778-5981
- Rating
- 86
- Verdict
- STRONG
- Rating confidence
- Moderate
- Sector
- Scholarships, Student Financial Aid Services, Awards
- Affiliation
- Christianity
Reported finances
- Revenue
- $17,857,903
- Expenses
- $19,656,309
- Assets
- $146,572,140
- Liabilities
- $18,344,639
Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.
Leadership & pay
39 people listed
Executive titles in this filing
- MICHAEL ROGERS (PRESIDENT)
- CHRISTINE KOMOLA (VICE PRESIDENT)
- MARGARET WADE (SENIOR VICE PRESIDENT)
- PETER LYNCH (PRESIDENT EMERITUS)
- MICHAEL REARDON (EXECUTIVE DIRECTOR)
Highest reported compensation
- MICHAEL REARDON (EXECUTIVE DIRECTOR): $345,869 total reported compensation
- MEGAN ADZIMA (DIRECTOR OF ALLOCATIONS & OPERATIONS): $146,401 total reported compensation
- GINA RINDFLEISCH (ADVANCEMENT DIRECTOR): $145,532 total reported compensation
Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.
Overview
Mission
The Catholic Schools Foundation (CSF) is the largest K-12 scholarship granting organization in Massachusetts, granting aid to low-income students to attend Catholic elementary and high school in the Archdiocese of Boston. Building Minds and Changing Lives is at the core of our mission. The Catholic Schools Foundation was incorporated in 1989 as an offshoot of the St. Anthony’s scholarship fund, which was established in 1983 by Most Reverend Thomas V. Daily and Paul J. Birmingham. CSF was established to help raise funds for scholarships and programs that allow students from low-income backgrounds to benefit from high-quality Catholic education in the Archdiocese of Boston. As the years have rolled by, our structure has changed but our mission has remained the same; providing families financial need so their children can receive a quality education, a chance to have a bright future....
What it reported doing in 2024
Non-scholarship program grants to support school growth and sustainability, including initiatives for marketing, technology, leadership, counseling, college readiness, regional partnerships and enrichment
Operating model
- Revenue model
- Donor-supported. 84% of the money available for current operations came from contributions and gifts.
- Distribution model
- Grant intermediary. The nonprofit sent 97% of its reported program spending out as grants.
- Includes noncash contributions: Reported contributions include donated property or goods.
The verdict
STRONG - A large share of available resources goes toward mission work and the filed numbers largely add up. Fundraising costs are high for each dollar raised and expenses are high relative to revenue.
Rating breakdown
- Financial Efficiency: 91
- Transparency & Controls: 76
- Accountability: 95
- Sustainability: 47
- Growth: 100
Detailed rating inputs
Financial Efficiency
- Mission deployment rate: 100%; rating input score 100
- Program expense ratio: 92.1%; rating input score 92
- Fundraising efficiency: $13.21 raised per $1 spent on fundraising; rating input score 46; 46th percentile among comparable filings
Transparency & Controls
- Consistency checks: 94.4%; rating input score 94; 22nd percentile among comparable filings
- Pay-setting controls: 2 of 6 controls in place; rating input score 33
- Compensation committee: Missing
- Independent consultant: Missing
- Other Form 990s reviewed: Missing
- Written employment contract: Missing
- Compensation survey or study: Pass
- Board or committee approval: Pass
- Foreign activity oversight: Limited
- Grant itemization coverage: 97.7%; rating input score 98; 28th percentile among comparable filings
- Major donor itemization: Yes; rating input score 100
- Related-party transparency: Limited
Accountability
- Independent voting board: 100%; rating input score 100; 66th percentile among comparable filings
- Governance controls: 7 of 8 controls in place; rating input score 88
- Conflict-of-interest policy: Pass
- Whistleblower policy: Pass
- Document-retention policy: Pass
- CEO compensation review process: Pass
- Other executive compensation review process: NotApplicable
- Form 990 shared with the board: Fail
- Board meeting minutes documented: Pass
- Audit committee oversight: Pass
- Independent financial-statement audit: Pass
Sustainability
- Operating margin: -10.1%; rating input score 10; 10th percentile among comparable filings
- Total-asset coverage ratio: 7.46; rating input score 89; 89th percentile among comparable filings
- Liabilities to assets ratio: 0.13; rating input score 69; 69th percentile among comparable filings
- Officer compensation ratio: 3.2%; rating input score 66; 66th percentile among comparable filings
Growth
- Program expense growth: 7% per year; rating input score 100; 56th percentile among comparable filings
- Revenue growth: 6.2% per year; rating input score 100; 53rd percentile among comparable filings
- Asset growth: 7.2% per year; rating input score 100; 50th percentile among comparable filings
Details
- What they do: 8 programs and campaigns described on the official site · 1 operating location identified
- Where the money goes: 100% of revenue deployed · 92.1% of spending went to programs
- Governance: 35 of 35 board members independent · 7 of 8 filing controls reported
- Programs: 2 filed program accomplishments · $18.1M in reported program spending
- Leadership: top reported pay $346K · 39 people listed · 2 of 6 pay-setting controls reported
- Consistency: 34 of 35 current checks pass · 1 finding to review
- Schedules: 9 filed schedules · includes major donors, grants, and executive pay
- Filing history: 16 filing years from 2009 to 2024
- Contacts: How to reach this organization
- Money network: 83 filed money-flow records
- Related organizations: 80 filed related-organization links
- Grant readiness: Federal tax and exclusion status, award history, and grant-maker relationships.
- People: Everyone the filings name, and which of them the filings identify by more than a name.
Key Signals
Signals prioritize questions for review. They are not findings of misconduct.
- Moderate — Financial Efficiency: Fundraising efficiency scored 46/100.
- High — Sustainability: Operating margin scored 10/100.
- Review — Accountability: Governance controls: Form 990 shared with the board not reported.
- Review — Transparency & Controls: Domestic grant itemization did not reconcile in the filed values.