Civic Intelligence

Charlotte Catholic High School Foundation

990 • Fiscal year 2019 • EIN 23-7411591

Jul 01, 2018 to Jun 30, 2019 • Filed on Jun 05, 2020

PO Box 474055Charlotte, NC 28247

(704) 543-9118

Siviq Scores

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

Liabilities / Assets

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Liabilities / Revenue

17th percentile

0.00x

Tied with the lowest-debt nonprofits in its peer group.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Net Margin

75th percentile

16%

Higher net margin than 75% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Top Officer Pay

34th percentile

$0

Higher top officer pay than 34% of similar nonprofits.

Top officer pay equals 0.0% of source-year revenue.

2019 filings • NTEE B • $1M-$5M nonprofits • Source year 2019

Asset Growth

57th percentile

7.7%

Faster asset growth than 57% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2018 to 2019

Revenue Growth

38th percentile

-0.1%

Faster revenue growth than 38% of similar nonprofits.

2019 filings • NTEE B • $1M-$5M nonprofits • Annualized from 2018 to 2019

Assets

Up

$1,259,890

Up $90,459 (+7.7%) from 2018

Net Assets

Up

$1,259,890

Up $90,559 (+7.7%) from 2018

Liabilities

Down

$0

Down $100 (-100%) from 2018

Revenue

Down

$316,936

Down $425 (-0.1%) from 2018

Expenses

Up

$265,906

Up $30,170 (+13%) from 2018

Net Income

Down

$51,030

Down $30,595 (-37%) from 2018

Historical Trend

Balance Sheet Trend

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

$1.5M$1.0M$500K$0Assets 2014: $722,880Liabilities 2014: $0Net Assets 2014: $722,8802014Assets 2015: $766,150Liabilities 2015: $0Net Assets 2015: $766,1502015Assets 2016: $811,701Liabilities 2016: $0Net Assets 2016: $811,7012016Assets 2017: $1,012,294Liabilities 2017: $100Net Assets 2017: $1,012,1942017Assets 2018: $1,169,431Liabilities 2018: $100Net Assets 2018: $1,169,3312018Assets 2019: $1,259,890Liabilities 2019: $0Net Assets 2019: $1,259,8902019Assets 2020: $1,262,408Liabilities 2020: $72,873Net Assets 2020: $1,189,5352020Assets 2021: $1,491,941Liabilities 2021: $44,023Net Assets 2021: $1,447,9182021Assets 2022: $916,396Liabilities 2022: $390Net Assets 2022: $916,0062022Assets 2023: $979,535Liabilities 2023: $0Net Assets 2023: $979,5352023Assets 2024: $1,360,811Liabilities 2024: $517Net Assets 2024: $1,360,2942024

Highlighted filing

2019

Assets$1,259,890
Liabilities$0
Net Assets$1,259,890

Operations Trend

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

$500K$0-$500KRevenue 2014: $105,021Expenses 2014: $95,401Net Income 2014: $9,6202014Revenue 2015: $196,734Expenses 2015: $100,461Net Income 2015: $96,2732015Revenue 2016: $240,621Expenses 2016: $115,687Net Income 2016: $124,9342016Revenue 2017: $378,715Expenses 2017: $202,930Net Income 2017: $175,7852017Revenue 2018: $317,361Expenses 2018: $235,736Net Income 2018: $81,6252018Revenue 2019: $316,936Expenses 2019: $265,906Net Income 2019: $51,0302019Revenue 2020: $329,319Expenses 2020: $337,712Net Income 2020: -$8,3932020Revenue 2021: $381,964Expenses 2021: $418,840Net Income 2021: -$36,8762021Revenue 2022: $41,699Expenses 2022: $483,372Net Income 2022: -$441,6732022Revenue 2023: $47,473Expenses 2023: $28,063Net Income 2023: $19,4102023Revenue 2024: $285,768Expenses 2024: $26,145Net Income 2024: $259,6232024

Highlighted filing

2019

Revenue$316,936
Expenses$265,906
Net Income$51,030
Jump To
Filing Snapshot
Filing Period
Jul 1, 2018 to Jun 30, 2019
Signed
Jun 5, 2020
Return Version
2018v3.2
Gross Receipts
$391,573
Mission and Program Overview

Mission

To enrich the spiritual, academic and cultural development of our students by raising funds which support charlotte catholic high school.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments Other Securities$866,280$898,916▲ $32,636
Cash and Non-Interest-Bearing Accounts$303,151$360,974▲ $57,823
Total Assets$1,169,431$1,259,890▲ $90,459
Liabilities
Other Liabilities$100--
Total Liabilities$100$0▼ $100
Net Assets / Fund Balance
Unrestricted Net Assets$1,053,554$965,086▼ $88,468
Temporarily Rstr Net Assets$115,777$294,804▲ $179,027
Total Net Assets Fund Balance$1,169,331$1,259,890▲ $90,559
Total Liabilities and Net Assets / Fund Balance$1,169,431$1,259,890▲ $90,459

Asset Categories

AssetBook ValueDepreciationBasis
Equipment-$2,041$2,041
Other Securities$898,916--

Endowment Activity

PeriodBeginningContrib.Gain/LossOther UsesEnd
2018$866,280-▲ $39,529-$898,916
2017$797,487-▲ $75,512-$866,280
2016-$772,345▲ $27,539-$797,487
Compensation and Service Providers

Board Members and Trustees

Revenue and Support

Revenue Composition

Contributions and Grants
$275,571
Program Service Revenue
$0
Investment Income
$0
Other Revenue
$41,365
All Other Contributions
$162,792
Change in Net Assets
$51,030

Noncash Contribution Practices

Property subject to holding requirements
No
Reviewed unusual noncash gifts
Yes
Third parties used for noncash contributions
No

Noncash Contributions

Contribution TypeContribution CountReported AmountValuation Method
Other Non Cash Contri Table40$20,482Comparable Sales
Other Non Cash Contri Table58$19,509Comparable Sales
Other Non Cash Contri Table72$14,097Comparable Sales
Other Non Cash Contri Table89$6,003Comparable Sales
Works of Art4$864Comparable Sales
Books and Publications-$126Comparable Sales
Total Noncash Contributions263$61,081-
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Grants and Similar Amounts Paid$187,040
Other Expenses$78,866
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$106,304--$106,304
Grants to Domestic Individuals$80,736--$80,736
Fees for Services Other-$36,346-$36,346
Advertising-$9,876-$9,876
Fees for Services Accounting-$9,295-$9,295
Fees for Service Investment Mgmnt Fees-$6,893-$6,893
All Other Expenses$2,777$946-$3,723
Other Expenses$3,800$1,958-$1,958
Depreciation Depletion-$1,098-$1,098
Office Expenses-$582-$582
Total Functional Expenses$193,617$72,289$0$265,906
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Mecklenburg Area Catholic SchoolsCharlotte, NC501c3Teacher Merit Awards$106,304
Fundraising, Events, and Gaming
Fundraising activities
Yes
Gaming activities
No
Professional fundraiser used
No

Fundraising and Gaming Totals

Line ItemAmount
Fundraising Gross Income$113,189
Fundraising Direct Expenses$74,637
Professional Fundraising Fees$0

Fundraising Events

EventGross ReceiptsGross RevenueDirect ExpensesNet Income
Gala$208,750$104,039$30,636$73,403
Parties With a$17,218$9,150$5,130$4,020
Total Events$225,968$113,189$74,637$38,552
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
No
Audit committee
Yes
Backup withholding compliance
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
No
Key decisions subject to board approval
No
Management duties delegated
No

Governance Explanations

Form 990, Page 6, Part VI, Line 11B

Board members are provided a pdf copy via email for review before filing.

Form 990, Page 6, Part VI, Line 19

Documents are made available upon request.

Filing and Contact Details

Filer

Filer Name
Charlotte Catholic High School
EIN
23-7411591
Phone
7045439118
Address
PO BOX 474055, CHARLOTTE, NC 28247

Signing Officer

Name
Mike Clawson
Title
Secretary
Phone
7045439118
Signed
2020-06-05
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Richard Rossitch
Formed
1974
Legal Domicile
Nc
Voting Board Members
18
Independent Board Members
18
Employees
0

Preparer

Firm
Gordon Keeter & Co
Address
323 CODDLE MARKET DRIVE NW SUITE 11, CONCORD, NC 28027
Preparer
Heather Richter CPA
Phone
7047860171
Supplemental Narrative

Additional Explanations

Form 990, Page 2, Part III, Line 4D

To provide goodwill and hospitality events for the charlotte catholic high school community including students, parents, and teachers.

Form 990, Part IX, Line 11G

Outside contract services 0 36,346 0

Form 990, Page 12, Part XII, Line 2C

The finance committee chose to have the 2018-2019 financial statements audited by an independent accountant.

Financial Statement Notes

Schedule D, Page 2, Part V, Line 4

The quasi-endowment funds were established to begin building a long term reserve of funds for the foundation, with the eventual goal of having a true endowment fund where only the earnings from the funds, not the principal, are used annually to support the organization's charitable purpose.

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IRS990/NetAssetsOrFundBalancesEOYAmt01259890
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IRS990/OperateHospitalInd0false
IRS990/Organization501c3Ind0X
IRS990/OrganizationFollowsSFAS117Ind0X
IRS990/OtherExpensesGrp/Desc0PRINCIPAL'S DISCRETIONARY
IRS990/OtherExpensesGrp/Desc1INSURANCE
IRS990/OtherExpensesGrp/Desc2BOARD & STAFF DEVELOPMENT
IRS990/OtherExpensesGrp/Desc3CREDIT CARD FEES
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IRS990/OtherExpensesGrp/ManagementAndGeneralAmt12119
IRS990/OtherExpensesGrp/ManagementAndGeneralAmt21958
IRS990/OtherExpensesGrp/ProgramServicesAmt03800
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IRS990/OtherExpensesGrp/TotalAmt13176
IRS990/OtherExpensesGrp/TotalAmt22119
IRS990/OtherExpensesGrp/TotalAmt31958
IRS990/OtherLiabilitiesGrp/BOYAmt0100
IRS990/OtherRevenueMiscGrp/Desc0RESTITUTION PAYMENTS RECEIVED
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IRS990/OtherRevenueMiscGrp/TotalRevenueColumnAmt169
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IRS990/PartialLiquidationInd0false
IRS990/PayPremiumsPrsnlBnftCntrctInd0false
IRS990/PoliticalCampaignActyInd0false
IRS990/PrincipalOfficerNm0RICHARD ROSSITCH
IRS990/ProfessionalFundraisingInd0false
IRS990/ProgSrvcAccomActy2Grp/Desc0PROVIDE ASSISTANCE TO CHARLOTTE CATHOLIC HIGH SCHOOL TEACHERS FOR TRAINING, EDUCATION AND PROFESSIONAL DEVELOPMENT IN AREAS NOT PROVIDED BY CHARLOTTE CATHOLIC HIGH SCHOOL. THIS ALSO INCLUDES SUPPLIES, MATERIALS AND EQUIPMENT FOR THE TEACHERS' PROGRAMS.
IRS990/ProgSrvcAccomActy2Grp/ExpenseAmt034586
IRS990/ProgSrvcAccomActy2Grp/GrantAmt034586
IRS990/ProgSrvcAccomActy3Grp/Desc0TO PROVIDE FUNDS TO CHARLOTTE CATHOLIC HIGH SCHOOL FOR THE INTENDED PURPOSE OF PROVIDING MERIT BASED AWARDS TO TEACHERS TO IMPROVE TEACHER RETENTION.
IRS990/ProgSrvcAccomActy3Grp/ExpenseAmt0106304
IRS990/ProgSrvcAccomActy3Grp/GrantAmt0106304
IRS990/ProgSrvcAccomActyOtherGrp/Desc0TO PROVIDE GOODWILL AND HOSPITALITY EVENTS FOR THE CHARLOTTE CATHOLIC HIGH SCHOOL COMMUNITY INCLUDING STUDENTS, PARENTS, AND TEACHERS.
IRS990/ProgSrvcAccomActyOtherGrp/ExpenseAmt06577
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IRS990/PYContributionsGrantsAmt0272006
IRS990/PYExcessBenefitTransInd0false
IRS990/PYGrantsAndSimilarPaidAmt0179736
IRS990/PYOtherExpensesAmt056000
IRS990/PYOtherRevenueAmt045355
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IRS990/PYTotalRevenueAmt0317361
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IRS990/ReconcilationRevenueExpnssAmt051030
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IRS990/ReportInvestmentsOtherSecInd0true
IRS990/ReportLandBuildingEquipmentInd0true
IRS990/ReportOtherAssetsInd0false
IRS990/ReportOtherLiabilitiesInd0false
IRS990/ReportProgramRelatedInvstInd0false
IRS990ScheduleA/Form990ScheduleAPartVIGrp/ExplanationTxt0NET INCOME FROM FUNDRAISING EVENTS 115,109
IRS990ScheduleA/Form990ScheduleAPartVIGrp/FormAndLineReferenceDesc0PART II, LINE 10
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IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/CurrentTaxYearMinus4YearsAmt083100
IRS990ScheduleA/GiftsGrantsContriRcvd170Grp/TotalAmt01112484
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus2YearsAmt06415
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus3YearsAmt010730
IRS990ScheduleA/GrossInvestmentIncome170Grp/CurrentTaxYearMinus4YearsAmt064880
IRS990ScheduleA/GrossInvestmentIncome170Grp/TotalAmt082025
IRS990ScheduleA/GrossReceiptsRltdActivitiesAmt03959
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IRS990ScheduleA/OtherIncome170Grp/TotalAmt0115109
IRS990ScheduleA/PublicOrganization170Ind0X
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IRS990ScheduleA/TotalCalendarYear170Grp/CurrentTaxYearMinus4YearsAmt083100
IRS990ScheduleA/TotalCalendarYear170Grp/TotalAmt01112484
IRS990ScheduleA/TotalSupportAmt01309618
IRS990ScheduleB/ContributorInformationGrp/ContributorBusinessName/BusinessNameLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/AddressLine10RESTRICTED
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IRS990ScheduleB/ContributorInformationGrp/ContributorUSAddress/State0RESTRICTED
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IRS990/ScheduleBRequiredInd0true
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IRS990ScheduleD/CYEndwmtFundGrp/EndYearBalanceAmt0898916
IRS990ScheduleD/CYEndwmtFundGrp/InvestmentEarningsOrLossesAmt039529
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/AdministrativeExpensesAmt06719
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/BeginningYearBalanceAmt0797487
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/EndYearBalanceAmt0866280
IRS990ScheduleD/CYMinus1YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt075512
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/AdministrativeExpensesAmt02397
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/ContributionsAmt0772345
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/EndYearBalanceAmt0797487
IRS990ScheduleD/CYMinus2YrEndwmtFundGrp/InvestmentEarningsOrLossesAmt027539
IRS990ScheduleD/EndowmentsHeldRelatedOrgInd0false
IRS990ScheduleD/EndowmentsHeldUnrelatedOrgInd0true
IRS990ScheduleD/EquipmentGrp/DepreciationAmt02041
IRS990ScheduleD/EquipmentGrp/OtherCostOrOtherBasisAmt02041
IRS990ScheduleD/OtherSecuritiesGrp/BookValueAmt0898916
IRS990ScheduleD/OtherSecuritiesGrp/Desc0AGENCY FUNDS - FFTC
IRS990ScheduleD/OtherSecuritiesGrp/MethodValuationCd0F
IRS990ScheduleD/SupplementalInformationDetail/ExplanationTxt0THE QUASI-ENDOWMENT FUNDS WERE ESTABLISHED TO BEGIN BUILDING A LONG TERM RESERVE OF FUNDS FOR THE FOUNDATION, WITH THE EVENTUAL GOAL OF HAVING A TRUE ENDOWMENT FUND WHERE ONLY THE EARNINGS FROM THE FUNDS, NOT THE PRINCIPAL, ARE USED ANNUALLY TO SUPPORT THE ORGANIZATION'S CHARITABLE PURPOSE.
IRS990ScheduleD/SupplementalInformationDetail/FormAndLineReferenceDesc0SCHEDULE D, PAGE 2, PART V, LINE 4
IRS990ScheduleD/TotalBookValueSecuritiesAmt0898916
IRS990ScheduleG/FundraisingEventInformationGrp/CharitableContributionsTotAmt0112779
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IRS990ScheduleG/FundraisingEventInformationGrp/Event1Nm0GALA
IRS990ScheduleG/FundraisingEventInformationGrp/Event2Nm0PARTIES WITH A
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IRS990ScheduleG/FundraisingEventInformationGrp/GrossRevenueTotalEventsAmt0113189
IRS990ScheduleG/FundraisingEventInformationGrp/NetIncomeSummaryAmt038552
IRS990ScheduleG/FundraisingEventInformationGrp/OthDirectExpnssTotalEventsAmt035766

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