Civic Intelligence

Albert E Farone & Angela T Farone Foundation

990 • Fiscal year 2016 • EIN 16-0911612

May 01, 2015 to Apr 30, 2016 • Filed on Nov 17, 2016

Organization ProfileN/A
Cardinal Station 620 Michigan AveWashington, DC 20064

(202) 319-5606

Siviq Scores

Precomputed percentiles for this filing year versus similar nonprofits in the same peer cohort.

Liabilities / Assets

14th percentile

0.02x

Higher debt load relative to assets than 14% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Liabilities / Revenue

63rd percentile

0.54x

Higher debt load relative to revenue than 63% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Net Margin

91st percentile

44%

Higher net margin than 91% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Top Officer Pay

83rd percentile

$495,309

Higher top officer pay than 83% of similar nonprofits.

Top officer pay equals 44.8% of source-year revenue.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Source year 2016

Asset Growth

55th percentile

3.5%

Faster asset growth than 55% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Revenue Growth

17th percentile

-15%

Faster revenue growth than 17% of similar nonprofits.

2016 filings • 501(c)3 • $25M-$50M nonprofits • Annualized from 2015 to 2016

Balance Sheet
Liabilities / Assets14th percentile

Assets

Up

$32,267,740

Up $1,088,711 (+3.5%) from 2015

Net Assets

Up

$31,666,340

Up $1,068,636 (+3.5%) from 2015

Liabilities

Up

$601,400

Up $20,075 (+3.5%) from 2015

Revenue And Expenses
Liabilities / Revenue63rd percentileNet Margin91st percentile

Revenue

Down

$1,106,103

Down $188,408 (-15%) from 2015

Expenses

Up

$618,176

Up $23,006 (+3.9%) from 2015

Net Income

Down

$487,927

Down $211,414 (-30%) from 2015

Historical Trend

Balance Sheet Trend

Asset Growth55th percentile

The highlighted filing sits inside the broader history for assets, liabilities, and net assets.

$60M$40M$20M$0Assets 2011: $24,341,452Liabilities 2011: $454,875Net Assets 2011: $23,886,5772011Assets 2012: $25,616,958Liabilities 2012: $565,261Net Assets 2012: $25,051,6972012Assets 2013: $27,274,452Liabilities 2013: $681,261Net Assets 2013: $26,593,1912013Assets 2014: $31,108,993Liabilities 2014: $645,000Net Assets 2014: $30,463,9932014Assets 2015: $31,179,029Liabilities 2015: $581,325Net Assets 2015: $30,597,7042015Assets 2016: $32,267,740Liabilities 2016: $601,400Net Assets 2016: $31,666,3402016Assets 2017: $29,866,848Liabilities 2017: $659,030Net Assets 2017: $29,207,8182017Assets 2018: $30,931,266Liabilities 2018: $833,340Net Assets 2018: $30,097,9262018Assets 2019: $33,378,770Liabilities 2019: $1,650Net Assets 2019: $33,377,1202019Assets 2020: $32,162,865Liabilities 2020: $1,875Net Assets 2020: $32,160,9902020Assets 2021: $40,485,942Liabilities 2021: $0Net Assets 2021: $40,485,9422021Assets 2022: $37,739,378Liabilities 2022: $750Net Assets 2022: $37,738,6282022Assets 2023: $39,735,944Liabilities 2023: $375Net Assets 2023: $39,735,5692023Assets 2024: $39,705,307Liabilities 2024: $2,250Net Assets 2024: $39,703,0572024Assets 2025: $40,903,355Liabilities 2025: $0Net Assets 2025: $40,903,3552025

Highlighted filing

2016

Assets$32,267,740
Liabilities$601,400
Net Assets$31,666,340
Open 2016 Filing

Operations Trend

Revenue Growth17th percentile

Revenue, expenses, and net income across loaded years, with this filing highlighted.

$6.0M$4.0M$2.0M$0Expenses 2011: $466,7192011Revenue 2012: $968,319Expenses 2012: $577,312Net Income 2012: $391,0072012Expenses 2013: $691,3402013Revenue 2014: $1,167,684Expenses 2014: $666,513Net Income 2014: $501,1712014Revenue 2015: $1,294,511Expenses 2015: $595,170Net Income 2015: $699,3412015Revenue 2016: $1,106,103Expenses 2016: $618,176Net Income 2016: $487,9272016Revenue 2017: $1,165,042Expenses 2017: $680,813Net Income 2017: $484,2292017Revenue 2018: $1,833,201Expenses 2018: $856,065Net Income 2018: $977,1362018Revenue 2019: $1,571,601Expenses 2019: $696,340Net Income 2019: $875,2612019Revenue 2020: $5,021,578Expenses 2020: $509,434Net Income 2020: $4,512,1442020Revenue 2021: $1,361,588Expenses 2021: $528,130Net Income 2021: $833,4582021Revenue 2022: $1,862,925Expenses 2022: $845,927Net Income 2022: $1,016,9982022Revenue 2023: $1,930,174Expenses 2023: $804,676Net Income 2023: $1,125,4982023Revenue 2024: $1,883,987Expenses 2024: $1,568,344Net Income 2024: $315,6432024Revenue 2025: $1,808,110Expenses 2025: $1,683,685Net Income 2025: $124,4252025

Highlighted filing

2016

Revenue$1,106,103
Expenses$618,176
Net Income$487,927
Open 2016 Filing
Jump To
Filing Snapshot
Filing Period
May 1, 2015 to Apr 30, 2016
Signed
Nov 17, 2016
Return Version
2015v2.1
Gross Receipts
$1,185,843
Mission and Program Overview

Mission

See schedule othe primary purpose of the foundation is to provide funds to support the charitable, scientific, educational, literary and/or religious purposes of the catholic university of america and to award scholarships to students from the albany diocese of the roman catholic church who are attending the catholic university of america.

The primary purpose of the Foundation is to provide funds to support the charitable, scientific, educational, literary and/or religious purpose of The Catholic University of America and to award scholarships to students attending The Catholic University of America with preference being given the following order: 1. Students from Otsego County, New York; 2. Students from Delaware County, New York; and 3. Students from any other part of the Albany Diocese of the Roman Catholic Church.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$21,156,005$21,224,073▲ $68,068
Investments in Publicly Traded Securities$9,776,494$10,791,847▲ $1,015,353
Cash and Non-Interest-Bearing Accounts$246,530$251,820▲ $5,290
Total Assets$31,179,029$32,267,740▲ $1,088,711
Liabilities
Accounts Payable and Accrued Expenses$581,325$601,400▲ $20,075
Other Liabilities$0$0→ $0
Total Liabilities$581,325$601,400▲ $20,075
Net Assets / Fund Balance
Unrestricted Net Assets$30,597,704$31,666,340▲ $1,068,636
Permanently Rstr Net Assets$0$0→ $0
Temporarily Rstr Net Assets$0$0→ $0
Total Net Assets Fund Balance$30,597,704$31,666,340▲ $1,068,636
Total Liabilities and Net Assets / Fund Balance$31,179,029$32,267,740▲ $1,088,711

Asset Categories

AssetBook ValueDepreciationBasis
Other Securities$21,224,073--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2015$21,156,005$0▲ $68,068$0$21,224,073
2014$20,123,252$0▲ $1,032,753$0$21,156,005
2013$18,362,347$0▲ $1,760,905$0$20,123,252
2012$16,599,834$0▲ $1,762,513$0$18,362,347
2011$16,261,353$0▲ $338,481$0$16,599,834
Compensation and Service Providers
Top Officer Pay83rd percentile

Board Members and Trustees

NameTitle
John H GarveyEx-Officio Director/President
Robert MoyerElected Director
Christopher P LydonEx-Officio Director effective 6/22/2015
Andrew V AbelaEx-Officio Director effective 6/3/2015
W Michael HendricksEx-Officio Director resigned 6/5/2015
Robert M SpecterEx-Officio Director/Treasurer effective 8/17/2015
Cathy R WoodEx-Officio Director/Treasurer resigned 8/14/2015
James BrennanFormer Ex-Officio Director Resigned 9/23/14
Rev Mark M MorozowichEx-Officio Dir- Resigned 6/2/2015
Lawrence J MorrisSecretary
Revenue and Support

Revenue Composition

Contributions and Grants
$0
Program Service Revenue
$0
Investment Income
$1,106,103
Other Revenue
$0
Change in Net Assets
$487,927

Audited Revenue Reconciliation

Revenue per Audited Statements
$1,106,103
Revenue Not Reported on Financial Statements
$0
Revenue Not Reported on Form 990
$-34,067
Other Revenue Adjustments
$0
Total Revenue per Audited Statements
$1,072,036
Total Revenue per Form 990
$1,106,103
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$598,000
Other Expenses$20,176
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Individuals$598,000--$598,000
Fees for Service Investment Mgmnt Fees$0$16,776$0$16,776
Fees for Services Accounting$0$2,650$0$2,650
Other Expenses$0$750$0$750
Total Functional Expenses$598,000$20,176$0$618,176

Audited Expense Reconciliation

Line ItemAmount
Total Expenses per Form 990$618,176
Expenses Not Reported on Financial Statements$614,776
Other Expense Adjustments$598,000
Expenses per Audited Statements$3,400
Total Expenses per Audited Statements$3,400
Expenses Not Reported on Form 990$0
Fundraising, Events, and Gaming
Fundraising activities
No
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Professional Fundraising Fees$0
Political and Lobbying Activity
Political campaign activity
No
Lobbying activity
No
Subject to proxy tax
No
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with family members
No
Business relationship with organization members
No
Material changes to governing documents
No
Compensation from other sources disclosed
No
CEO compensation reviewed
No
Other officer compensation reviewed
No
Conflict-of-interest policy
Yes
Audited financial statements prepared
Yes
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Part VI, Section A, Line 2

“Certain officers are also officers of The Catholic University of America and The Catholic University of America Foundation.”

Form 990, Part VI, Section B, Line 11B

“The Form 990 was sent to the full Board of Trustees for review prior to filing the return. The Trustees were given the opportunity to review the document and address comments or questions to management.”

Form 990, Part VI, Section B, Line 12C

“A & A Farone Foundation operates by The Catholic University of America's standards with respect to the conflict of interest policies. The Catholic University of America's (an affiliated organization) Compliance Office reviews the conflict of interest statements submitted by the Board members to determine whether any material financial interests have been disclosed. Any such interests would be investigated by the university's Audit Committee. There is no faculty or staff, and the transactions of the Foundation are limited to a very few defined types of activities.”

Form 990, Part VI, Section B, Line 13

“A & A Farone Foundation operates by The Catholic University of America's standards with respect to the whistle blower policies.”

Form 990, Part VI, Section B, Line 14

“A & A Farone Foundation operates by The Catholic University of America's standards with respect to the document retention and destruction policies.”

Form 990, Part VI, Section C, Line 19

“The conflict of interest policy and consolidated audited financial statements are posted on the University website. The Foundation's governing documents are available by request.”

Filing and Contact Details

Filer

Filer Name
Albert E Farone & Angela T Farone Foundation
EIN
16-0911612
Phone
2023195606
Address
Cardinal Station 620 Michigan Ave, Washington, DC 20064

Signing Officer

Name
Robert M Specter
Title
VP Finance/Treasurer
Phone
2023195606
Signed
2016-11-17

Organization Details

Principal Officer
Robert M Specter
Formed
1965
Legal Domicile
Ny
Voting Board Members
5
Independent Board Members
1
Employees
0
Volunteers
1
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 5

“The net assets change by $580,709 in unrealized gain.”

Financial Statement Notes

Schedule D, Part V, Line 4

“Farone Foundation's endowment funds are used to support purposes of The Catholic University of America and to fund scholarships in accordance with the donor's request.”

Schedule D, Part X, Line 2

“In consideration of accounting standards related to income taxes, the University concluded there were no open positions that result in material unrecognized tax benefits or which may have any effect on its tax-exempt status as of April 30, 2016.”

Schedule D, Part XI, Line 2D

“Grants and Other Assistance to individuals -$598,000. Investment Expense Reclassification -$16,776.”

Schedule D, Part XII, Line 4B

“Grants and Other Assistance to individuals $598,000.”

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IRS990/Form990PartVIISectionAGrp/PersonNm2Robert M Specter
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IRS990/Form990PartVIISectionAGrp/TitleTxt1Elected Director
IRS990/Form990PartVIISectionAGrp/TitleTxt2Ex-Officio Director/Treasurer effective 8/17/2015
IRS990/Form990PartVIISectionAGrp/TitleTxt3Ex-Officio Director/Treasurer resigned 8/14/2015
IRS990/Form990PartVIISectionAGrp/TitleTxt4Ex-Officio Director effective 6/3/2015
IRS990/Form990PartVIISectionAGrp/TitleTxt5Ex-Officio Dir- Resigned 6/2/2015
IRS990/Form990PartVIISectionAGrp/TitleTxt6Ex-Officio Director effective 6/22/2015
IRS990/Form990PartVIISectionAGrp/TitleTxt7Ex-Officio Director resigned 6/5/2015
IRS990/Form990PartVIISectionAGrp/TitleTxt8Secretary
IRS990/Form990PartVIISectionAGrp/TitleTxt9Former Ex-Officio Director Resigned 9/23/14
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IRS990/MissionDesc0The primary purpose of the Foundation is to provide funds to support the charitable, scientific, educational, literary and/or religious purpose of The Catholic University of America and to award scholarships to students attending The Catholic University of America with preference being given the following order: 1. Students from Otsego County, New York; 2. Students from Delaware County, New York; and 3. Students from any other part of the Albany Diocese of the Roman Catholic Church.
IRS990/MoreThan5000KToIndividualsInd00
IRS990/MoreThan5000KToOrgInd00
IRS990/NetAssetsOrFundBalancesBOYAmt030597704
IRS990/NetAssetsOrFundBalancesEOYAmt031666340
IRS990/NetGainOrLossInvestmentsGrp/ExclusionAmt0186000
IRS990/NetGainOrLossInvestmentsGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/NetGainOrLossInvestmentsGrp/TotalRevenueColumnAmt0186000
IRS990/NetGainOrLossInvestmentsGrp/UnrelatedBusinessRevenueAmt00
IRS990/NetUnrelatedBusTxblIncmAmt00
IRS990/NetUnrlzdGainsLossesInvstAmt0580709
IRS990/NondeductibleContributionsInd00
IRS990/OfficerMailingAddressInd00
IRS990/OperateHospitalInd00
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherChangesInNetAssetsAmt00
IRS990/OtherExpensesGrp/Desc0Taxes Paid
IRS990/OtherExpensesGrp/FundraisingAmt00
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt0750
IRS990/OtherExpensesGrp/ProgramServicesAmt00
IRS990/OtherExpensesGrp/TotalAmt0750
IRS990/OtherLiabilitiesGrp/BOYAmt00
IRS990/OtherLiabilitiesGrp/EOYAmt00
IRS990/OtherRevenueTotalAmt00
IRS990/PartialLiquidationInd00
IRS990/PayPremiumsPrsnlBnftCntrctInd00
IRS990/PermanentlyRstrNetAssetsGrp/BOYAmt00
IRS990/PermanentlyRstrNetAssetsGrp/EOYAmt00
IRS990/PoliticalCampaignActyInd00
IRS990/PrincipalOfficerNm0Robert M Specter
IRS990/PriorPeriodAdjustmentsAmt00
IRS990/ProfessionalFundraisingInd00
IRS990/ProhibitedTaxShelterTransInd00
IRS990/PYBenefitsPaidToMembersAmt00
IRS990/PYContributionsGrantsAmt00
IRS990/PYExcessBenefitTransInd00
IRS990/PYGrantsAndSimilarPaidAmt0575600
IRS990/PYInvestmentIncomeAmt01294511
IRS990/PYOtherExpensesAmt019570
IRS990/PYOtherRevenueAmt00
IRS990/PYProgramServiceRevenueAmt00
IRS990/PYRevenuesLessExpensesAmt0699341
IRS990/PYSalariesCompEmpBnftPaidAmt00
IRS990/PYTotalExpensesAmt0595170
IRS990/PYTotalProfFndrsngExpnsAmt00
IRS990/PYTotalRevenueAmt01294511
IRS990/QuidProQuoContributionsInd00
IRS990/RcvFndsToPayPrsnlBnftCntrctInd00
IRS990/ReconcilationRevenueExpnssAmt0487927
IRS990/RegularMonitoringEnfrcInd01
IRS990/RelatedEntityInd01
IRS990/RelatedOrganizationCtrlEntInd00
IRS990/RentalIncomeOrLossGrp/PersonalAmt00
IRS990/RentalIncomeOrLossGrp/RealAmt00
IRS990/ReportInvestmentsOtherSecInd01
IRS990/ReportLandBuildingEquipmentInd00
IRS990/ReportOtherAssetsInd00
IRS990/ReportOtherLiabilitiesInd00
IRS990/ReportProgramRelatedInvstInd00
IRS990/RevenueAmt00
IRS990/RoyaltiesRevenueGrp/ExclusionAmt00
IRS990/RoyaltiesRevenueGrp/RelatedOrExemptFuncIncomeAmt00
IRS990/RoyaltiesRevenueGrp/TotalRevenueColumnAmt00
IRS990/RoyaltiesRevenueGrp/UnrelatedBusinessRevenueAmt00
IRS990ScheduleA/Form990SchASupportingOrgGrp/Contribution35ControlledInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionControllerInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ContributionFamilyInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ControlledDisqualifiedPrsnInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnControllIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/DisqualifiedPrsnOwnrIntInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ExcessBusinessHoldingsRulesInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/ListedByNameGoverningDocInd01
IRS990ScheduleA/Form990SchASupportingOrgGrp/LoanDisqualifiedPersonInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/OrganizationChangeSuprtOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/PaymentSubstantialContribtrInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgNotOrganizedUSInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportedOrgSectionC456Ind00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SupportNonSupportedOrgInd00
IRS990ScheduleA/Form990SchASupportingOrgGrp/SuprtOrgNoIRSDeterminationInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/OperateBenefitNonSuprtOrgInd00
IRS990ScheduleA/Form990SchAType1SuprtOrgGrp/PowerAppointMajorityDirTrstInd01
IRS990ScheduleA/IRSWrittenDeterminationInd0X
IRS990ScheduleA/OtherSupportSumAmt00
IRS990ScheduleA/SupportedOrganizationsCnt01
IRS990ScheduleA/SupportedOrganizationsTotalCnt01
IRS990ScheduleA/SupportedOrgInformationGrp/EIN0530196583
IRS990ScheduleA/SupportedOrgInformationGrp/GoverningDocumentListedInd01
IRS990ScheduleA/SupportedOrgInformationGrp/OrganizationTypeCd02
IRS990ScheduleA/SupportedOrgInformationGrp/OtherSupportAmt00
IRS990ScheduleA/SupportedOrgInformationGrp/SupportAmt0598000
IRS990ScheduleA/SupportedOrgInformationGrp/SupportedOrganizationName/BusinessNameLine1Txt0Catholic University of America
IRS990ScheduleA/SupportingOrganization509a3Ind0X
IRS990ScheduleA/SupportingOrgType1Ind0X
IRS990ScheduleA/SupportSumAmt0598000
IRS990/ScheduleBRequiredInd00
IRS990ScheduleD/BoardDesignatedBalanceEOYPct01
IRS990ScheduleD/CYEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYEndwmtFundGrp/BeginningYearBalanceAmt021156005
IRS990ScheduleD/CYEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt021224073
IRS990ScheduleD/CYEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt068068
IRS990ScheduleD/CYEndwmtFundGrp/OtherExpendituresAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt020123252
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt021156005
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01032753
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/OtherExpendituresAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/BeginningYearBalanceAmt018362347
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt020123252
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01760905
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/OtherExpendituresAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/BeginningYearBalanceAmt016599834
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/EndYearBalanceAmt018362347
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt01762513
IRS990ScheduleD/CYMinus3YrEndwmtFundGrp/OtherExpendituresAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/AdministrativeExpensesAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/BeginningYearBalanceAmt016261353
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/ContributionsAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/EndYearBalanceAmt016599834
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/GrantsOrScholarshipsAmt00
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt0338481
IRS990ScheduleD/CYMinus4YrEndwmtFundGrp/OtherExpendituresAmt00
IRS990ScheduleD/DonatedServicesAndUseFcltsAmt00
IRS990ScheduleD/DonatedServicesUseFcltsAmt00
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd00
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd00
IRS990ScheduleD/ExpensesNotReportedAmt00
IRS990ScheduleD/ExpensesNotRptFinclStmtAmt0614776
IRS990ScheduleD/ExpensesSubtotalAmt03400
IRS990ScheduleD/FederalIncomeTaxLiabilityAmt00
IRS990ScheduleD/FootnoteTextInd0X
IRS990ScheduleD/InvestmentExpensesNotIncld2Amt016776
IRS990ScheduleD/InvestmentExpensesNotIncldAmt00
IRS990ScheduleD/LossesReportedAmt00
IRS990ScheduleD/NetUnrealizedGainsInvstAmt0580709
IRS990ScheduleD/OtherExpensesIncludedAmt00
IRS990ScheduleD/OtherExpensesNotIncludedAmt0598000
IRS990ScheduleD/OtherRevenueAmt0-614776
IRS990ScheduleD/OtherRevenuesNotIncludedAmt00
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt021224073
IRS990ScheduleD/OtherSecuritiesGrp/Desc0Catholic University Endowment Pool
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/PriorYearAdjustmentsAmt00
IRS990ScheduleD/PrmnntEndowmentBalanceEOYPct00
IRS990ScheduleD/RecoveriesPriorYearGrantsAmt00
IRS990ScheduleD/RevenueNotReportedAmt0-34067
IRS990ScheduleD/RevenueNotReportedFinclStmtAmt00
IRS990ScheduleD/RevenueSubtotalAmt01106103
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0Farone Foundation's endowment funds are used to support purposes of The Catholic University of America and to fund scholarships in accordance with the donor's request.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt1In consideration of accounting standards related to income taxes, the University concluded there were no open positions that result in material unrecognized tax benefits or which may have any effect on its tax-exempt status as of April 30, 2016.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt2Grants and Other Assistance to individuals -$598,000. Investment Expense Reclassification -$16,776.
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt3Grants and Other Assistance to individuals $598,000.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule D, Part V, Line 4
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc1Schedule D, Part X, Line 2
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc2Schedule D, Part XI, Line 2d
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc3Schedule D, Part XII, Line 4b
IRS990ScheduleD/TermEndowmentBalanceEOYPct00
IRS990ScheduleD/TotalBookValueSecuritiesAmt021224073
IRS990ScheduleD/TotalExpensesPerForm990Amt0618176
IRS990ScheduleD/TotalLiabilityAmt00
IRS990ScheduleD/TotalRevenuePerForm990Amt01106103
IRS990ScheduleD/TotalRevEtcAuditedFinclStmtAmt01072036
IRS990ScheduleD/TotExpnsEtcAuditedFinclStmtAmt03400
IRS990ScheduleI/GrantRecordsMaintainedInd01
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/CashGrantAmt0598000
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/GrantTypeTxt0Farone Foundation Scholarships
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/NonCashAssistanceAmt00
IRS990ScheduleI/GrantsOtherAsstToIndivInUSGrp/RecipientCnt037
IRS990ScheduleI/SupplementalInformationDetail/ExplanationTxt0All scholarships are offered based on manual and/or electronic verification of eligibility criteria. The system disbursement of the scholarships to the students' accounts occur only after global and item type specific disbursement eligibility rules are met. Upon disbursement, payment allocation rules in the systems allocate scholarships to appropriate predefined charges. After disbursement, audits are done at various time intervals to determine continued eligibility.
IRS990ScheduleI/SupplementalInformationDetail/FormAndLineReferenceDesc0Schedule I, Part I, Line 2
IRS990ScheduleJ/AnyNonFixedPaymentsInd00
IRS990ScheduleJ/CompBasedOnRevenueOfFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsFlngOrgInd00
IRS990ScheduleJ/CompBsdNetEarnsRltdOrgsInd00
IRS990ScheduleJ/CompBsdOnRevRelatedOrgsInd00
IRS990ScheduleJ/EquityBasedCompArrngmInd00
IRS990ScheduleJ/InitialContractExceptionInd00
IRS990/ScheduleJRequiredInd01
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt00
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt10
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt20
IRS990ScheduleJ/RltdOrgOfficerTrstKeyEmplGrp/BaseCompensationFilingOrgAmt30

Document Assets

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Filings

Displayed year

2016 • Form 990Detailed filing. Detailed filing data is available for this year.

Open filing
Assets
$32,267,740
Liabilities
$601,400
Net assets
$31,666,340
Revenue
$1,106,103
Expenses
$618,176
Net income
$487,927
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Detailed filing. Detailed filing data is available for this year.$40.9$0.00$40.9$1.81$1.68$0.12
2024XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.7$0.00$39.7$1.88$1.57$0.32
2023XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$39.7$0.00$39.7$1.93$0.80$1.13
2022XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$37.7$0.00$37.7$1.86$0.85$1.02
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$40.5$0.00$40.5$1.36$0.53$0.83
2020XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$32.2$0.00$32.2$5.02$0.51$4.51
2019XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$33.4$0.00$33.4$1.57$0.70$0.88
2018XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$30.9$0.83$30.1$1.83$0.86$0.98
2017XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$29.9$0.66$29.2$1.17$0.68$0.48
2016Detailed filing. Detailed filing data is available for this year.$32.3$0.60$31.7$1.11$0.62$0.49
2015Detailed filing. Detailed filing data is available for this year.$31.2$0.58$30.6$1.29$0.60$0.70
2014Detailed filing. Detailed filing data is available for this year.$31.1$0.65$30.5$1.17$0.67$0.50
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$27.3$0.68$26.6$0.69
2012Summary only. Only limited summary data is available for this year.$25.6$0.57$25.1$0.97$0.58$0.39
2011XML pending. An XML filing is linked for this year, but detailed extraction is still pending.$24.3$0.45$23.9$0.47