The Foundation of the Roman Catholic Diocese of Raleigh Inc

Nonprofit profile at a glance

EIN
831609483
IRS 990 coverage
2019–2022
Forms available
Form 990 2022
Location
Raleigh, NC, USA
Phone
9195681065
Rating
82
Verdict
STRONG
Rating confidence
Moderate
Affiliation
Christianity

Official website

Reported finances

Revenue
$3,058,479
Expenses
$3,162,527
Assets
$72,625,930
Liabilities
$1,004,496

Source: IRS Form 990. Selected filing: tax year 2022. Amounts in USD.

Leadership & pay

8 people listed

Executive titles in this filing

  • TIMOTHY A MANN (PRESIDENT)
  • JOHN W BYRNE (VICE PRESIDENT)
  • MAUREEN O'KEEFFE LINDGREN (EXECUTIVE DIRECTOR)

Highest reported compensation

  • MAUREEN O'KEEFFE LINDGREN (EXECUTIVE DIRECTOR): $128,761 total reported compensation

Source: IRS Form 990. Selected filing: tax year 2022. Names and roles reflect this filing, not necessarily current officeholders.

Overview

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.

What it reported doing in 2022

The foundation, headquartered in raleigh, North Carolina, exists to cultivate endowed and major gifts for the long-term benefit of the parishes, schools, programs, and ministries of the catholic diocese of raleigh while providing effective and efficient management and distribution of invested funds.

Operating model

Revenue model
Mixed. Its operating money came from several sources; no one source provided a clear majority.
Distribution model
Grant intermediary. The nonprofit sent 96% 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 some filing-based governance responses are negative or unanswered.

Rating breakdown

  • Financial Efficiency: 73
  • Transparency & Controls: 94
  • Accountability: 84
  • Sustainability: 57
  • Growth: 100

Detailed rating inputs

Financial Efficiency

  • Mission deployment rate: 81.3%; rating input score 81
  • Program expense ratio: 75.8%; rating input score 76
  • Fundraising efficiency: $7 raised per $1 spent on fundraising; rating input score 24; 24th 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; 64th percentile among comparable filings
  • Governance controls: 5 of 8 controls in place; rating input score 62
    • Conflict-of-interest policy: Pass
    • Whistleblower policy: Fail
    • Document-retention policy: Fail
    • CEO compensation review process: Fail
    • 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: -3.4%; rating input score 24; 24th percentile among comparable filings
  • Total-asset coverage ratio: 22.96; rating input score 97; 97th percentile among comparable filings
  • Liabilities to assets ratio: 0.01; rating input score 85; 85th percentile among comparable filings
  • Officer compensation ratio: 4.1%; rating input score 58; 58th percentile among comparable filings

Growth

  • Program expense growth: 7% per year; rating input score 100; 56th percentile among comparable filings
  • Revenue growth: 19.2% per year; rating input score 100; 87th percentile among comparable filings
  • Asset growth: 4% per year; rating input score 100; 31st percentile among comparable filings

Details

  • Where the money goes: 81.3% of revenue deployed · 75.8% of spending went to programs
  • Governance: 7 of 7 board members independent · 5 of 8 filing controls reported
  • Programs: 1 filed program accomplishment · $2.4M in reported program spending
  • Leadership: top reported pay $129K · 8 people listed
  • Consistency: 30 of 30 current checks pass
  • Schedules: 7 filed schedules · includes major donors and grants
  • Filing history: 4 filing years from 2019 to 2022
  • Contacts: How to reach this organization
  • Money network: 15 filed money-flow records
  • Related organizations: 15 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.

  • High — Financial Efficiency: Fundraising efficiency scored 24/100.
  • Review — Accountability: Governance controls: 3 of 8 not reported.
  • High — Sustainability: Operating margin scored 24/100.
  • Review — Sustainability: Officer compensation ratio scored 58/100.