Catholic Foundation for the Archdiocese of Dubuque

“The Foundation is organized as an Iowa non-profit corporation and has been recognized by the Internal Revenue Service as exempt from federal income taxes under Section 501(a) of the Internal Revenue Code as an organization described in Section 501(c)(3), qualifies for the charitable contribution deduction under Section 170(b)(1)(A)(vi) and (viii), and has been determined not to be a private foundation under Sections 509(a)(1) and (3), respectively. The Foundation is annually required to file a Return of Organization Exempt from Income Tax (Form 990) with the IRS. In addition, the Foundation is subject to income tax on net income that is derived from business activities that are unrelated to its exempt purposes. The Foundation has determined it is not subject to unrelated business income tax and has not filed an Exempt Organization Business Income Tax Return (Form 990-T) with the IRS. The Foundation believes that it has appropriate support for any tax positions taken affecting its annual filing requirements, and as such, does not have any uncertain tax positions that are material to the financial statements. The Foundation would recognize future accrued interest and penalties related to unrecognized tax benefits and liabilities in income tax expense if such interest and penalties are incurred. For tax purposes, the activity (i.e., contributions and grants) of agency endowments that are subject to variance power will be reflected as changes in net assets on the Form 990.”

“Designated funds recorded in revenue as contributions on Form 990 4,972,843. Interest income on designated funds recorded as revenue on Form 990 218,543. Realized gain on designated funds recorded as revenue on Form 990 21,305.”

“Designated endowment expenses recorded in functional expenses on Form 990 64,914. Grants recorded in functional expenses on Form 990 66,680.”