The Catholic Foundation of Southeastern Massachusetts Inc

Nonprofit profile at a glance

EIN
825093066
IRS 990 coverage
2018–2024
Forms available
Form 990 2024, Form 990-EZ 2017
Location
Fall River, MA, USA
Phone
5089856705
Rating
91
Verdict
STRONG
Rating confidence
Moderate
Sector
Roman Catholic
Affiliation
Christianity

Official website

Reported finances

Revenue
$5,754,708
Expenses
$5,338,500
Assets
$4,723,108
Liabilities
$500,693

Source: IRS Form 990. Selected filing: tax year 2024. Amounts in USD.

Leadership & pay

10 people listed

Executive titles in this filing

  • PATRICK CARNEY (PRESIDENT)
  • MIRIAM FINN SHERMAN (CHIEF EXECUTIVE OFFICER)

People named in this filing

  • PATRICK CARNEY (PRESIDENT)
  • NICHOLAS M CHRIST (TREASURER)
  • ROBERT LONG (DIRECTOR)

Selected names, not a complete roster or a statement of current roles. Open leadership details for the complete filed list.

Source: IRS Form 990. Selected filing: tax year 2024. Names and roles reflect this filing, not necessarily current officeholders.

Overview

Mission

To support the work of the catholic religious, charitable, and educational institutions and their ministeries within the diocese of fall river. Also to provide proper management of the assets and resources of the foundation and the diocesan institutions and to provide for the current and future needs of the diocese and diocesan institutions within the geographic boundaries of the diocese of fall river.

What it reported doing in 2024

Advance the mission of the diocese of fall river and to strengthen the community and parishes, assist in securing the financial resources needed for rebuilding faith and hope

Operating model

Revenue model
Donor-supported. 76% of the money available for current operations came from contributions and gifts.
Distribution model
Grant intermediary. The nonprofit sent 77% 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. Expenses are high relative to revenue and total assets are small relative to annual expenses; liquid coverage is unknown.

Rating breakdown

  • Financial Efficiency: 87
  • Transparency & Controls: 94
  • Accountability: 100
  • Sustainability: 53
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 85.9%; rating input score 86
  • Program expense ratio: 91.3%; rating input score 91
  • Fundraising efficiency: $48.14 raised per $1 spent on fundraising; rating input score 78; 78th percentile among comparable filings

Transparency & Controls

  • Consistency checks: 100%; rating input score 100; 63rd percentile among comparable filings
  • Pay-setting controls: Limited
  • Foreign activity oversight: Limited
  • Grant itemization coverage: 100%; rating input score 100; 72nd 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; 63rd percentile among comparable filings
  • Governance controls: 7 of 7 controls in place; rating input score 100
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Pass
    • Document-retention policy: Pass
    • CEO compensation review process: NotApplicable
    • Other executive compensation review process: NotApplicable
    • Form 990 shared with the board: Pass
    • Board meeting minutes documented: Pass
    • Audit committee oversight: Pass
    • Independent financial-statement audit: Pass

Sustainability

  • Operating margin: 7.2%; rating input score 56; 56th percentile among comparable filings
  • Total-asset coverage ratio: 0.88; rating input score 33; 33rd percentile among comparable filings
  • Liabilities to assets ratio: 0.11; rating input score 57; 57th percentile among comparable filings
  • Officer compensation ratio: 0%; rating input score 91; 91st percentile among comparable filings

Growth

  • Program expense growth: 25.7% per year; rating input score 100; 90th percentile among comparable filings
  • Revenue growth: 16.8% per year; rating input score 100; 84th percentile among comparable filings
  • Asset growth: 22% per year; rating input score 100; 86th percentile among comparable filings

Details

  • Where the money goes: 85.9% of revenue deployed · 91.3% of spending went to programs
  • Governance: 8 of 8 board members independent · 7 of 7 filing controls reported
  • Programs: 1 filed program accomplishment · $4.9M in reported program spending
  • Leadership: top reported pay $0 · 10 people listed
  • Highest-paid contractors: 2 contractors listed · $1.5M reported
  • Consistency: 28 of 28 current checks pass
  • Schedules: 9 filed schedules · includes major donors and grants
  • Filing history: 7 filing years from 2018 to 2024
  • Contacts: How to reach this organization
  • Money network: 3 filed money-flow records
  • Related organizations: 8 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.

  • Review — Sustainability: Operating margin scored 56/100.
  • Moderate — Sustainability: Total-asset coverage ratio scored 33/100.
  • Review — Sustainability: Liabilities to assets ratio scored 57/100.