Civic Intelligence

Catholic Foundation for the Diocese of Gary Inc.

990 • Fiscal year 2021 • EIN 26-1514259

Jul 01, 2020 to Jun 30, 2021 • Filed on Feb 14, 2022

Organization ProfileWWW.CATHOLICFUTURE.ORG
9292 BroadwayMerrillville, IN 46410-7088

(219) 769-9292

Siviq Scores

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

Liabilities / Assets

93rd percentile

0.98x

Higher debt load relative to assets than 93% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Liabilities / Revenue

94th percentile

4.46x

Higher debt load relative to revenue than 94% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Net Margin

29th percentile

2.9%

Higher net margin than 29% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Top Officer Pay

14th percentile

$0

Higher top officer pay than 14% of similar nonprofits.

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

2021 filings • 501(c)3 • $10M-$25M nonprofits • Source year 2021

Asset Growth

93rd percentile

63%

Faster asset growth than 93% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Revenue Growth

97th percentile

435%

Faster revenue growth than 97% of similar nonprofits.

2021 filings • 501(c)3 • $10M-$25M nonprofits • Annualized from 2020 to 2021

Balance Sheet
Liabilities / Assets93rd percentile

Assets

Up

$14,319,756

Up $5,515,811 (+63%) from 2020

Net Assets

Down

$271,774

Down $299,482 (-52%) from 2020

Liabilities

Up

$14,047,982

Up $5,815,293 (+71%) from 2020

Revenue And Expenses
Liabilities / Revenue94th percentileNet Margin29th percentile

Revenue

Up

$3,146,363

Up $2,558,370 (+435%) from 2020

Expenses

Up

$3,054,219

Up $2,361,790 (+341%) from 2020

Net Income

Up

$92,144

Up $196,580 (+188%) from 2020

Historical Trend

Balance Sheet Trend

Asset Growth93rd percentile

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

$30M$20M$10M$0-$10MAssets 2010: $1,032,815Liabilities 2010: $1,020,973Net Assets 2010: $11,8422010Assets 2012: $1,940,973Liabilities 2012: $1,937,803Net Assets 2012: $3,1702012Assets 2013: $2,180,438Liabilities 2013: $2,186,672Net Assets 2013: -$6,2342013Assets 2020: $8,803,945Liabilities 2020: $8,232,689Net Assets 2020: $571,2562020Assets 2021: $14,319,756Liabilities 2021: $14,047,982Net Assets 2021: $271,7742021Assets 2022: $13,181,928Liabilities 2022: $12,885,112Net Assets 2022: $296,8162022Assets 2023: $14,278,469Liabilities 2023: $13,956,404Net Assets 2023: $322,0652023Assets 2024: $18,214,305Liabilities 2024: $17,843,814Net Assets 2024: $370,4912024Assets 2025: $20,774,637Liabilities 2025: $20,349,869Net Assets 2025: $424,7682025

Highlighted filing

2021

Assets$14,319,756
Liabilities$14,047,982
Net Assets$271,774
Open 2021 Filing

Operations Trend

Revenue Growth97th percentile

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

$4.0M$3.0M$2.0M$1.0M$0-$1.0MRevenue 2010: $62,000Expenses 2010: $53,035Net Income 2010: $8,9652010Expenses 2012: $316,9932012Expenses 2013: $332,9812013Revenue 2020: $587,993Expenses 2020: $692,429Net Income 2020: -$104,4362020Revenue 2021: $3,146,363Expenses 2021: $3,054,219Net Income 2021: $92,1442021Revenue 2022: $2,351,164Expenses 2022: $1,980,076Net Income 2022: $371,0882022Revenue 2023: $293,108Expenses 2023: $337,651Net Income 2023: -$44,5432023Revenue 2024: $2,694,849Expenses 2024: $2,653,231Net Income 2024: $41,6182024Revenue 2025: $1,083,439Expenses 2025: $1,034,074Net Income 2025: $49,3652025

Highlighted filing

2021

Revenue$3,146,363
Expenses$3,054,219
Net Income$92,144
Open 2021 Filing
Jump To
Filing Snapshot
Filing Period
Jul 1, 2020 to Jun 30, 2021
Signed
Feb 14, 2022
Return Version
2020v4.0
Gross Receipts
$4,009,419
Mission and Program Overview

Mission

The catholic foundation for northwest indiana empowers people to express their faith by providing perpetual financial support for diocesan ministries, parishes, and schools.

Balance Sheet Detail
LineBeginningEndChange
Assets
Investments in Publicly Traded Securities$8,742,661$13,913,346▲ $5,170,685
Savings and Temporary Cash Investments-$339,272-
Cash and Non-Interest-Bearing Accounts$60,664$66,565▲ $5,901
Land, Buildings, and Equipment, Net$620$573▼ $47
Total Assets$8,803,945$14,319,756▲ $5,515,811
Liabilities
Other Liabilities$8,051,965$13,795,341▲ $5,743,376
Grants Payable$180,724$252,641▲ $71,917
Total Liabilities$8,232,689$14,047,982▲ $5,815,293
Net Assets / Fund Balance
Net Assets Without Donor Restrictions$540,610$232,410▼ $308,200
Net Assets With Donor Restrictions$30,646$39,364▲ $8,718
Total Net Assets Fund Balance$571,256$271,774▼ $299,482
Total Liabilities and Net Assets / Fund Balance$8,803,945$14,319,756▲ $5,515,811

Asset Categories

AssetBook ValueDepreciationBasis
Equipment$573$619$1,192
Compensation and Service Providers
Top Officer Pay14th percentile

Board Members and Trustees

NameTitle
Most Rev Robert J MccloryBoard Chair
Jim JorgensenVice Chair
Fr Ben RossBoard Member
Fr Brian ChadwickBoard Member
Gary BonkBoard Member
Kevin KeoughBoard Member
Mike SmallBoard Member
Mike WelshBoard Member
Kathy TomasikSecretary
Thomas DevineTreasurer
Revenue and Support

Revenue Composition

Contributions and Grants
$2,832,112
Program Service Revenue
$56,412
Investment Income
$241,688
Other Revenue
$16,151
All Other Contributions
$2,832,112
Change in Net Assets
$92,144

Audited Revenue Reconciliation

Revenue per Audited Statements
$3,146,363
Revenue Not Reported on Form 990
$59,782
Total Revenue per Audited Statements
$3,206,145
Total Revenue per Form 990
$3,146,363
Expenses and Functional Allocation

Major Expense Lines

Line ItemAmount
Other Expenses$2,876,346
Grants and Similar Amounts Paid$177,873
Professional Fundraising Fees$0
Salaries, Compensation, and Employee Benefits$0
Total Fundraising Expense$0

Functional Expense Allocation

Line ItemProgramManagementFundraisingTotal
Grants to Domestic Orgs$177,873--$177,873
Fees for Service Investment Mgmnt Fees$107,907--$107,907
Fees for Services Management-$33,158-$33,158
Fees for Services Accounting-$6,750-$6,750
Office Expenses-$3,765-$3,765
Advertising$2,017--$2,017
Insurance-$1,656-$1,656
Other Expenses$2,720,189$857-$857
Depreciation Depletion$47--$47
Total Functional Expenses$3,008,033$46,186$0$3,054,219

Audited Expense Reconciliation

Line ItemAmount
Expenses per Audited Statements$3,054,219
Total Expenses per Audited Statements$3,054,219
Total Expenses per Form 990$3,054,219
International Activity

Grant and Assistance Recipients

RecipientLocationCategoryPurposeAmount
Religious Related Organizations-3-$177,873
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
Debt and Bond Financing

Other Reported Liabilities

LiabilityAmount
Funds Held for Others$13,758,775
Annuities Payable$36,566
Governance and Compliance

Governance Checklist

Compiled or reviewed by an accountant
No
Annual disclosure for covered persons
Yes
Audit committee
Yes
Business relationship with 35% controlled entity
No
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

“A copy of the form 990 is reviewed by the executive committee's designee and the treasurer before filing”

Form 990, Page 6, Part VI, Line 12C

“The organization regularly and consistently monitors and enforces compliance by having the board member complete a questionnaire annually.”

Form 990, Page 6, Part VI, Line 18

“The form 990 is available on guidestar.org and also upon request during regular business hours.”

Form 990, Page 6, Part VI, Line 19

“The governing documents are not available to the public”

Filing and Contact Details

Filer

Filer Name
Catholic Foundation for
EIN
26-1514259
Phone
2197699292
Address
9292 BROADWAY, MERRILLVILLE, IN 46410-7088

Signing Officer

Name
Kathy Tomasik
Title
Secretary
Phone
2197699292
Signed
2022-02-14
Discuss with paid preparer
Yes

Organization Details

Principal Officer
Kathy Tomasik
Formed
2008
Legal Domicile
In
Voting Board Members
10
Independent Board Members
10
Employees
0

Preparer

Firm
Humphrey CPA Group LLC
Address
5915 S EMERSON AVENUE SUITE 400, INDIANAPOLIS, IN 46237
Preparer
Rodney J Humphrey CPA
Phone
3174353447
Supplemental Narrative

Additional Explanations

Form 990, Part XI, Line 9

“The change in net assets was adjusted to reflect a correction in the beginning balance of the agency commitment liability as of june 30, 2020. The balance of the agency commitments liability was increased by 451,408 and the beginning net assets without restriction balance was decreased by 451,408.”

Financial Statement Notes

Schedule D, Page 3, Part X

“The foundation recognized tax benefits only to the extent the trust believes it is "more likely than not" that its tax positions would be sustained upon examination. Accordingly, any provision for unpaid taxes in the statements of financial position reflects only tax positions that the foundation believes do not have greater than a 50% chance of realization after examination. There were no tax positions considered less than 50% likely of sustainability.”

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This appendix keeps the raw XML leaves available for debugging and edge-case review. The human report above is the primary experience.

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IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt0A COPY OF THE FORM 990 IS REVIEWED BY THE EXECUTIVE COMMITTEE'S DESIGNEE AND THE TREASURER BEFORE FILING
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt1THE ORGANIZATION REGULARLY AND CONSISTENTLY MONITORS AND ENFORCES COMPLIANCE BY HAVING THE BOARD MEMBER COMPLETE A QUESTIONNAIRE ANNUALLY.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt2THE FORM 990 IS AVAILABLE ON GUIDESTAR.ORG AND ALSO UPON REQUEST DURING REGULAR BUSINESS HOURS.
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt3THE GOVERNING DOCUMENTS ARE NOT AVAILABLE TO THE PUBLIC
IRS990ScheduleO/SupplementalInformationDetail/ExplanationTxt4THE CHANGE IN NET ASSETS WAS ADJUSTED TO REFLECT A CORRECTION IN THE BEGINNING BALANCE OF THE AGENCY COMMITMENT LIABILITY AS OF JUNE 30, 2020. THE BALANCE OF THE AGENCY COMMITMENTS LIABILITY WAS INCREASED BY 451,408 AND THE BEGINNING NET ASSETS WITHOUT RESTRICTION BALANCE WAS DECREASED BY 451,408.
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ReturnHeader/BuildTS02022-05-20 13:21:51Z
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ReturnHeader/BusinessOfficerGrp/PersonNm0KATHY TOMASIK
ReturnHeader/BusinessOfficerGrp/PersonTitleTxt0SECRETARY
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ReturnHeader/BusinessOfficerGrp/SignatureDt02022-02-14
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ReturnHeader/PreparerFirmGrp/PreparerFirmName/BusinessNameLine1Txt0HUMPHREY CPA GROUP LLC
ReturnHeader/PreparerFirmGrp/PreparerUSAddress/AddressLine1Txt05915 S EMERSON AVENUE SUITE 400
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ReturnHeader/PreparerPersonGrp/PhoneNum03174353447
ReturnHeader/PreparerPersonGrp/PreparationDt02022-02-16
ReturnHeader/PreparerPersonGrp/PreparerPersonNm0RODNEY J HUMPHREY CPA
ReturnHeader/ReturnTs02022-02-16T19:24:33-06:00
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ReturnHeader/TaxPeriodBeginDt02020-07-01
ReturnHeader/TaxPeriodEndDt02021-06-30

Document Assets

No mirrored PDF or thumbnail assets are attached yet.

Filings

Displayed year

2021 • Form 990Facts available. Structured filing facts are available, but richer extracted sections are limited.

Open filing
Assets
$14,319,756
Liabilities
$14,047,982
Net assets
$271,774
Revenue
$3,146,363
Expenses
$3,054,219
Net income
$92,144
Balance SheetOperations
YearAssetsLiabilitiesNet AssetsRevenueExpensesNet Income
2025Facts available. Structured filing facts are available, but richer extracted sections are limited.$20.8$20.3$0.42$1.08$1.03$0.05
2024Detailed filing. Detailed filing data is available for this year.$18.2$17.8$0.37$2.69$2.65$0.04
2023Detailed filing. Detailed filing data is available for this year.$14.3$14.0$0.32$0.29$0.34$0.04
2022Detailed filing. Detailed filing data is available for this year.$13.2$12.9$0.30$2.35$1.98$0.37
2021Facts available. Structured filing facts are available, but richer extracted sections are limited.$14.3$14.0$0.27$3.15$3.05$0.09
2020Detailed filing. Detailed filing data is available for this year.$8.80$8.23$0.57$0.59$0.69$0.10
2013Facts available. Structured filing facts are available, but richer extracted sections are limited.$2.18$2.19$0.01$0.33
2012Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.94$1.94$0.00$0.32
2010Facts available. Structured filing facts are available, but richer extracted sections are limited.$1.03$1.02$0.01$0.06$0.05$0.01