Catholic Community Foundation for the Diocese of Phoenix

“The completed form 990 is emailed and presented to the members of our finance committee prior to electronic filing.”

“All directors, members of committees, and employees of the Foundation shall scrupulously avoid any conflict between their own respective interests and the interest of the Foundation in any and all actions taken by them on behalf of the Foundation. Situations where directors or members derive financial benefits from the board or committee service should be avoided. However, in the event any directors or members of the foundation should have any direct or indirect interest in, or relationship with, any individual or organization which proposes to enter into any transaction with the foundation for the sale, purchase, lease or rental of property or to render or employ services, personal or otherwise, or receive pecuniary consideration from the foundation in the form of a fee or grant, such directors or members shall forthwith give the board of directors of the foundation notice with full factual disclosures, of such interest or relationship and shall thereafter absent themselves during both explicit review of the matter. Officers are required to complete this information during the onboarding process and this information is reaffirmed and updated annually in August.”

“A formal compensation study is completed every 3 years and is initiated by the Compensation Committee and approved by the committee. A sub-committee of the board is charged with summarizing the results of comparative salary ranges for the CEO and COO using a professional services firm and their compensation recommendations. The results are forwarded to the Executive Committee to formulate a compensation package, benefits, and duties of the position. Prior to approval of the executive leadership compensation, the Executive Committee meets in executive session to discuss and also advise on other staff positions. The results are then included in the organizations budget which is approved in total by the Board of Directors.”

“All information is made available on the Foundations website ccfphx.org and GuideStar, a central source of information on U.S. nonprofits. The Foundations articles of incorporation, by-laws, financial statements and Form 990 are all available to the public upon request. The Foundation does not make the conflict of interest policy documents available to the public.”

“Program Service Expenses 236,285, Grants and allocations 0, Revenue 37,130 Charitable Gift Annuity Program - The Catholic Community Foundation offers a charitable gift annuity CGA program that provides flexible giving options for donors and nonprofits alike. This program allows any donor to establish a CGA and designate a charity of their choice to receive benefits upon their passing, as long as the CGA remains above water. Notably, any donor CGA that is above water at the time of their passing will be added to an existing endowment held at the Foundation or used to create a family foundation in the deceased individuals name if the remaining amount exceeds 20,000. Additionally, nonprofits can white label the CGA program, enabling them to offer this option to their communities while CCF manages the administrative responsibilities, including regulatory compliance, legal documentation, investment management, contract formulation, and annual 1099 filing. This dual approach ensures a seamless experience for both donors and nonprofit partners.”

“Program Service Expenses 150,944, Grants and allocations 144,323, Revenue 0 Catholic Giving Circle - The Giving Circle invites individuals from all backgrounds to participate in a distinctive granting process. Members join by contributing a membership fee, which is pooled together with funds from the Foundations Forever Fund endowments CARE, LIFE, COMMUNITY, MUSIC, operating funds, and legacy gifts. Each year, organizations present brief pitches to the members, and the community votes to decide which causes receive funding. This model allows the community to directly influence how the Foundations discretionary funds are allocated, empowering members to address pressing local needs. This also provides an opportunity for members to be introduced to organizations within the community that may not have otherwise come across. Since 2015, over 1.5 million has been granted through the Giving Circle.”

“Program Service Expenses 5,338, Grants and allocations 0, Revenue 0 End-of-Life Planning Program - The Catholic Community Foundation assists individuals in the education and creation of end-of-life plans, with a primary focus on encouraging charitable giving as part of their legacy. The Foundation partners with estate planning attorneys, funeral homes, financial advisors, and end-of-life care facilities to provide comprehensive education through its Get Your Affairs in Order seminars, which are primarily hosted at parishes across the Diocese of Phoenix. Additionally, the Foundation specializes in helping individuals and nonprofits with the liquidation and realization of complex gifts, such as real estate, securities, business interests, and more, ensuring a smooth process for both donors and recipients.”

“Change in Split Interest Agreements -145,366 less Interest Expense 398,265. Total other changes in net assets or fund balances -543,631”