2012 A N N U A L R E P O R T

Transcription

1 2012 ANNUAL REPORT

2 Everyone can make a difference. It starts with you. Since 2001, The Catholic Community Foundation (CCF) has made a real, tangible difference in our community. Across the 10 counties in Southeastern Wisconsin, we have made a lasting, growing contribution to Catholic values, but we need you to help us continue our mission. You can help us continue to strengthen our community by establishing a fund that will last a lifetime. Because what matters to you can become your legacy. Carl Groth Carl and Ethel Groth Endowment Fund A fund with The Catholic Community Foundation made it all possible! Ethel decided and we both agreed on the organizations that we wanted to help. It was important to help provide support to our parish, Holy Angels of West Bend, and those religious organizations that have been a part of both of our lives. 1

3 Meet Carl & Ethel Groth. Our dear friends Carl and Ethel Groth, lifelong West Bend residents who have been blessed throughout their lives, honorably give back to the community that gave them so much. Ethel made the very generous decision to establish the Carl and Ethel Groth Endowment Fund through her estate and we couldn t be more grateful. This legacy fund will continue to support those organizations that have always been important to them, especially their parish, Holy Angels of West Bend and its school. The Foundation made it so easy for Ethel and me to decide on this. It is a perfect way for individuals to continue to help those organizations they supported during their lifetimes. You can keep making your gifts even though you re no longer alive. It s the gift that keeps on giving! Carl Groth Fr. Gerald Brittain, Pastor Holy Angels Parish, West Bend, WI The annual grants from the Carl and Ethel Groth Endowment Fund with The Catholic Community Foundation provide tuition assistance for those children that might not otherwise be able to attend Holy Angels Parish School and, in addition, provide ongoing support for the Holy Angels Parish community. 2

4 There are so many ways to make a difference. Advised Fund Grants are awarded to charitable organizations that are recommended by the donor and/or family member. These funds may be more favorable than starting a private foundation. Designated Fund The donor specifies one or more charitable agencies or organizations to which grants are awarded. Field of Interest Fund Grants are awarded in a particular charitable area specified by the donor. The Foundation s Board makes sure it carries out the wishes of the donor. Unrestricted Fund The Board is given full discretion in awarding grants based on the Foundation s priorities. Supporting Foundation A private foundation may wish to become a part of The Catholic Community Foundation. Elaine Shanebrook, Attorney-at-Law Shanebrook & Falkowski Law Office, West Bend, WI Everyone needs to plan when it s right for them, but young people can create a fund now with CCF and begin to help those causes they care most about. They ll have something in place to which they can add to through their estate plans. In addition, anyone can include a fund with CCF now as part of their estate plans, without having to fund it immediately. 3

5 Donor Funds within The Catholic Community Foundation. Joseph F. and Catherine M. Bennett Family Fund Fred and Karen Bersch Family Fund Bishop Brust Memorial Fund Building the Faith General Fund Reverend Leslie Darnieder Scholarship Fund Sarah M. Dean Fund DePorres Scholarship Fund Directors Legacies of Faith Fund Henry and Francine Ducat Fund Education Endowment Fund Carl and Ethel Groth Endowment Fund Brian D. Hanley Fund Father Gerald B. Hauser and John and Ruth Kegel Priesthood Scholarship Fund John C. (Jack) and Hildegard A. Heegeman Scholarship Fund RWH and EMH Estate Fund JCC Fund Rev. Carl M., Eugenia, and Lauretta Kazmierczak Priesthood Support Fund Judith A. Keyes Family Fund Legacy Fund for Tomorrow s Present: A Lasting Tribute to the Work of Lisa Marie Calderone-Stewart, Ed.D. Mission Fund Marilyn C. Schmit, PhD Fund St. Aemilian Fund St. Anthony Fund St. Gerard Association Endowed Scholarship Fund Allen and Diane Spaeth Charitable Fund Archbishop Rembert G. Weakland Fund Whelandale Trust Charles and Sara Wieber Family Fund Yaniak Fund Our attorney, Elaine Shanebrook, has been most helpful to us. When we were talking about our estate plans she told us about CCF and what they do because she thought it might be a perfect fit for us. She knew if we set up a fund with CCF all of our wishes would be carried out when we were no longer alive. Carl Groth 4

6 Agency Endowed Funds Agencies, such as parishes, schools or other Catholic organizations, are able to incorporate their funds, most typically their endowments, into the Foundation while still maintaining ownership. They benefit from socially responsible investment management expertise and administrative services provided by the Foundation. Agencies Many of the agencies have multiple funds. The Cathedral of St. John the Evangelist, Milwaukee Catholic Charities of the Archdiocese of Milwaukee, Inc. Christ King, Wauwatosa Congregation of Good Shepherd, Eden Divine Savior Holy Angels High School Dominican High School Faith In Our Future Trust Mary B. Finnigan Fund in Memory of Eleanor H. Boheim Holy Family, Whitefish Bay Lumen Christi, Mequon Marquette University High School Our Lady of Divine Providence, Milwaukee Helen Rapp Trust Fund St. Alphonsus, Greendale St. Andrew, Delavan St. Anthony on the Lake, Pewaukee St. Bernard, Wauwatosa St. Boniface, Germantown St. Bruno, Dousman St. Dominic, Brookfield St. Edward, Racine St. Eugene, Fox Point St. Frances Cabrini, West Bend Saint Francis de Sales Seminary St. John Vianney, Brookfield St. Kilian Cong., Hartford St. Leonard, Muskego St. Luke, Brookfield St. Margaret Mary, Milwaukee St. Martin de Porres, Milwaukee St. Mary, Dover St. Mary, Waukesha St. Mary s Congregation, Elm Grove St. Peter, Kenosha Ss. Peter and Paul, Milwaukee St. Robert Bellarmine, Union Grove St. Roman, Milwaukee Salesianum Alumni/AE Association Sheboygan County Catholic Fund, Inc. Society for the Propagation of the Faith Three Holy Women, Milwaukee 5

7 Grant Recipients 2012 Grant Recipients The Catholic Community Foundation this fiscal year 2011/2012 awarded $528,911 in grants for programs/projects that support our four priorities education, leadership development, community building and health care services. Since inception, the Foundation has awarded over $3,987,000 in grants. The following organizations received grants from donor funds within the Foundation: Adult Learning Center $5,000 Agape Community Center $5,000 AIDS Resource Center of Wisconsin $9,000 Alverno College $4,000 All Saints Catholic School, Kenosha $1,491 Archdiocese of Milwaukee $2,000 Priest Service Awards Archdiocese of Milwaukee $17,880 Retired Priests Needs Archdiocese of Milwaukee $17,500 Program Support Benedict Center, Inc. $19,500 Bethany Apartments, Racine $10,000 Cardinal Stritch University $1,755 Casa Romero Renewal Center $10,000 Cathedral Center $17,500 Catholic Charities of the Archdiocese $10,000 of Milwaukee, Inc. Catholic Memorial High School $5,426 Catholic Stewardship Appeal $3,910 CommonGround Ministry $7,500 Compel $1,000 CORE/El Centro $7,500 Dismas Ministry $2,500 Divine Mercy School $6,500 Divine Savior Holy Angels High School $213 Dominican High School $213 Family Unity International, Inc. $500 Feeding America Eastern Wisconsin $1,000 Food for the Hungry, Inc. $3,500 Foundation for St. Francis and Franklin $9,000 Angel of Hope Clinic The Gathering of Southeast Wisconsin, Inc. $10,000 Gesu Parish $2,785 Greater Milwaukee Catholic $5,000 Education Consortium The Guest House of Milwaukee, Inc. $9,000 Holy Angels School, West Bend $1,278 Holy Apostles School $426 Holy Trinity School, Kewaskum $426 Holy Wisdom Academy $500 Hopes Center, Racine $5,000 House of Peace $9,000 Community Nursing Center House of Peace 2012 Holiday $10,000 Food Basket Program Hunger Task Force $2,500 John XXIII Educational Center, Racine $10,000 John Paul II Academy, Racine $6,000 Literacy Services of Wisconsin $5,000 Lumen Christi Catholic School $426 Marquette University $6,000 Marquette University Neighborhood $9,000 Health Center Mary, Queen of Saints Catholic Academy $12,713 Medical College of Wisconsin Saturday $9,000 Clinic for the Uninsured 6

8 Grant Recipients, continued... Melanoma Research Foundation $900 Washington, D.C. Messmer Catholic Schools $7,500 St. Rose and St. Leo School Milwaukee Habitat for Humanity $500 Near South Side Catholic $9,000 Schools Association Northwest Catholic School Association $213 Notre Dame Middle School $11,125 Office for World Mission $16,565 Penfield Children s Center $9,000 Philippine Cultural and Civic Center $5,000 Foundation, Inc. Free Medical Clinic Pius XI High School $213 Prevent Blindness Wisconsin $5,000 Progressive Community Health Centers $5,000 Repairers of the Breach $7,000 Rosalie Manor Community $9,000 and Family Services St. Adalbert School $1,500 St. Andrew Parish, Delavan $7,600 St. Ben s Clinic at the Cathedral Center $9,000 St. Ben s Community Meal $10,000 St. Catherine Residence $10,000 St. Catherine s High School, Racine $4,000 St. Charles Borromeo School $4,500 St. Dominic School, Sheboygan $639 St. Elizabeth Ann Seton Dental Clinic $9,000 St. Eugene School $852 Saint Francis de Sales Seminary $17,280 St. Gregory the Great School $3,500 St. John Kanty School $500 St. Josaphat School $1,500 St. Joseph Catholic Academy, Kenosha $426 St. Joseph Foundation $5,000 Safe Place for Newborns Program St. Martin de Porres Parish $2,000 St. Mary s School, Hales Corners $213 St. Mary s School, Mayville $639 St. Matthias School $852 St. Rafael the Archangel School $1,000 St. Roman School $5,000 St. Thomas Aquinas Academy $2,213 Saint Thomas More High School $5,000 School Sisters of Notre Dame $10,000 SET Ministry, Inc. $7,500 Siena Retreat Center $3,000 Society for the Propagation of the Faith $1,000 Tyme Out Youth Ministry Center $12,600 United Community Center $7,500 Vision Forward Association $5,000 Waukesha Catholic $426 St. Mary Campus Waukesha Catholic $213 St. William Campus 7

9 Statement of Financial Position June 30, 2012 and 2011 ASSETS LIABILITIES AND NET ASSETS Current Assets Cash and cash equivalents $103,760 $94,310 Accounts receivable 49,109 53,883 Prepaid expenses 4,127 4,208 Total Current Assets $156,996 $152,401 Property & Equipment $13,650 $19,289 Investments Long-term investments $20,095,806 $17,554,770 Agency funds 34,403,811 28,293,729 Total Investments $54,499,617 $45,848,499 TOTAL ASSETS $54,670,263 $46,020,189 Current Liabilities Accounts Payable: Foundation $74,472 $87,620 Agency funds 66,809 65,588 Accrued liability 32,496 31,872 Current portion of capital leases 204 1,319 Total Current Liabilities $173,981 $186,399 Long-Term Liabilities Long-term portion of capital leases - $204 Agency funds 34,337,002 28,228,141 Total Long-Term Liabilities $34,337,002 $28,228,345 TOTAL LIABILITIES $34,510,983 $28,414,744 Net Assets Unrestricted funds $12,505,831 $9,618,841 Temporarily restricted funds 7,653,449 7,986,604 Elaine Shanebrook, Attorney-at-Law Shanebrook & Falkowski Law Office, West Bend, WI Total Net Assets $20,159,280 $17,605,445 TOTAL LIABILITIES AND NET ASSETS $54,670,263 $46,020,189 If an individual wants to save income taxes on retirement plan assets, they can set up a fund which gives them a charitable donation and at the same time help those organizations they care most about. If they fund one through their estate plans it provides a wonderful estate tax deduction. 8

10 Statement of Activities June 30, 2012 and 2011 Public Support & Revenue Unrestricted Temporarily Restricted 2012 Total Unrestricted Temporarily Restricted 2011 Total Contributions $3,202,057 - $3,202,057 $1,392,101 - $1,392,101 Interest and dividend income 226,838 $154, , ,048 $205, ,608 Realized gains (losses) on investments 409, , , , , ,162 Unrealized gains (losses) on investments (453,018) (355,456) (808,474) 1,328,792 1,143,977 2,472,769 Investment management fees (71,973) (48,550) (120,523) (65,509) (55,151) (120,660) Administrative fee on agency endowments 135, , , ,293 Net assets released from restrictions 369,214 (369,214) - 365,147 (365,147) - Total Public Support and Revenue $3,817,639 $(333,155) $3,484,484 $3,703,145 $1,203,128 $4,906,273 Expenses Grants approved for charitable purposes $527,532 - $527,532 $456,296 - $456,296 Program-related expenses 134, , , ,532 Supporting services: Administrative expenses 268, , , ,703 Total Expenses $930,649 - $930,649 $868,531 - $868,531 Change in Net Assets $2,886,990 $(333,155) $2,553,835 $2,834,614 $1,203,128 $4,037,742 Net Assets - Beginning of Year $9,618,841 $7,986,604 $17,605,445 $6,784,227 $6,783,476 $13,567,703 Net Assets - End of Year $12,505,831 $7,653,449 $20,159,280 $9,618,841 $7,986,604 $17,605,445 9

11 Summary of Investments Investments as of June 30, 2012 Cost Value Market Value Cash and cash equivalents $117,093 $117,093 Large/Mid-cap equities and S&P 500 index fund 15,816,833 19,415,104 Domestic small-cap common stock 2,874,005 3,414,288 International equities 10,920,237 11,391,184 Commodities and inflation hedges 3,874,544 3,716,046 Bond mutual funds 14,077,905 14,407,489 Real estate 836, ,837 Hedge Composite 1,175,000 1,095,576 Total Investments $49,691,935 $54,499,617 Investments as of June 30, 2011 Cost Value Market Value Cash and cash equivalents $252,947 $252,947 Large/Mid-cap equities and S&P 500 index fund 12,796,518 16,686,287 Domestic small-cap common stock 3,153,932 4,345,578 International equities 8,658,715 10,205,721 Commodities and inflation hedges 2,142,281 2,417,853 Bond mutual funds 10,994,070 11,204,365 Real estate 743, ,748 Total Investments $38,741,863 $45,848,499 10

12 Notes to Financial Statements Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosures of contingent assets and liabilities at the date of financial statements. Actual results could differ from these estimates. Tax-Exempt Status The Foundation is exempt from federal and state income taxes on related exempt function income under Section 501 (c)(3) of the Internal Revenue Code and has been classified as an organization other than a private foundation. The Foundation does not consider any of its support and revenues to be unrelated business income and, accordingly, no provision for income taxes has been provided in the accompanying financial statements. Net Assets Net assets, revenues, gains and losses are classified based on the existence or absence of donor-imposed restrictions. Accordingly, net assets of the Foundation are classified and reported as follows: Unrestricted Net Assets Net assets that are not subject to donor-imposed stipulations. Temporarily Restricted Net Assets Net assets subject to donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Foundation pursuant to those stipulations. Permanently Restricted Net Assets Net assets subject to donor-imposed stipulations that they be maintained permanently by the Foundation. Currently, the Foundation does not have any permanently restricted net assets. Agency Endowment Funds Certain Catholic parishes and other organizations have transferred funds to the Foundation for management. These funds are invested with the other funds of the Foundation, but title is retained by the transferring organization and the funds are reflected in the statements of financial position of the Foundation as investments and the corresponding amounts listed as current and long-term liabilities. The Catholic Community Foundation is audited annually. Copies of the complete audit reports are available upon request. 11

13 Board of Directors BOARD OF DIRECTORS Patrick B. Mehigan Chairman of the Board, Tax Partner, Deloitte & Touche LLP Mary Ellen Markowski President, The Catholic Community Foundation Debra Alder President and CEO, Alder Companies F. Jon Baranko Chief Equity Officer, Wells Capital Management Leslie A. Blum Real Estate Construction Consultant Barbara Anne Cusack Chancellor, Archdiocese of Milwaukee Tim Dodge President, Hanson Dodge Creative Thomas J. Fischer Fischer Financial Consulting LLC John A. Herbers Attorney, Reinhart Boerner Van Deuren SC Most Rev. Donald J. Hying Auxiliary Bishop, Archdiocese of Milwaukee Judy Keyes Community Volunteer John J. Marek Treasurer and Chief Financial Officer, Archdiocese of Milwaukee Camela M. Meyer Vice President and Trust Officer, Johnson Bank, Racine, WI David Morris First Vice President, Financial Consultant, RBC Wealth Management Ann M. Rieger Attorney, Davis and Kuelthau SC Maureen Stapleton President, Stapleton Realty and Appraisal, Oconomowoc, WI Patricia L. Van Kampen Community Volunteer, former Vice President, common stock, Mason Street Advisors LLC Adam J. Wiensch Attorney, Foley and Lardner LLC STAFF John Blickle Controller Julie Kurer Administrative Coordinator 12

14 637 East Erie Street Milwaukee, WI Ph Fax legaciesoffaith.org The Catholic Community Foundation is a not-for-profit Wisconsin Corporation, tax-exempt pursuant to Section 501 (c)(3) of the Internal Revenue Code and governed by its own Board of Directors. The Foundation is a separate civil and canonical entity independent of the Archdiocese of Milwaukee. For more information on how you can provide for your community in perpetuity visit legaciesoffaith.org.