Catholic Financial Life

Organization Overview

Catholic Financial Life is located in Milwaukee, WI. The organization was established in 1941. According to its NTEE Classification (Y40) the organization is classified as: Fraternal Societies, under the broad grouping of Mutual & Membership Benefit and related organizations. As of 12/2021, Catholic Financial Life employed 138 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Catholic Financial Life is a 501(c)(8) and as such, is described as a "Fraternal Beneficiary Society and/or Association" by the IRS.

For the year ending 12/2021, Catholic Financial Life generated $138.3m in total revenue. This represents relatively stable growth, over the past 7 years the organization has increased revenue by an average of 1.2% each year. All expenses for the organization totaled $127.1m during the year ending 12/2021. While expenses have increased by 1.1% per year over the past 7 years. They've been increasing with an increasing level of total revenue. You can explore the organizations financials more deeply in the financial statements section below.

Since 2015, Catholic Financial Life has awarded 91 individual grants totaling $2,855,203. If you would like to learn more about the grant giving history of this organization, scroll down to the grant profile section of this page.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

CATHOLIC FINANCIAL LIFE, A FAITH-BASED MEMBERSHIP ORGANIZATION, PUTS CATHOLIC VALUES IN ACTION BY SERVING GOD THROUGH SERVING OTHERS, PROVIDING FINANCIAL SECURITY AND ENHANCING QUALITY OF LIFE. THE SOCIETY OFFERS INDIVIDUAL LIFE INSURANCE AND ANNUITY PRODUCTS THROUGH A NETWORK OF FINANCIAL ADVISORS. MEMBERS ALSO HAVE ACCESS TO FRATERNAL BENEFITS THAT INCLUDE CHILD CANCER AND ORPHAN BENEFITS, WILL PREPARATION BENEFIT AND SOCIAL ACTIVITIES THROUGH THE CHAPTER SYSTEM. THE SOCIETY IS COMMITTED TO HOSTING AND SUPPORTING FRATERNAL ACTIVITIES AND COMMUNITY OUTREACH. IN 2021, MEMBERS VOLUNTEERED OVER 58,000 HOURS OF SERVICE VALUED AT NEARLY $1.7 MILLION TO EXTEND THEIR HAND TO HELP OTHERS IN NEED. OVER $1.5 MILLION IN CONTRIBUTIONS WERE RAISED THROUGH THE SOCIETY'S EFFORTS TO PROMOTE CATHOLIC EDUCATION, DIOCESAN PROGRAMS, CIVIC CAUSES AND MORE.

Describe the Organization's Program Activity:

Part 3 - Line 4a

FINANCIAL SECURITY: THE SOCIETY OPERATES TO PROVIDE ITS MEMBERS LONG TERM FINANCIAL SECURITY THROUGH THE OFFERING OF INDIVIDUAL LIFE INSURANCE AND ANNUITY PRODUCTS. MEMBERS ARE SERVED BY A NETWORK OF FINANCIAL ADVISORS THAT PROVIDE FINANCIAL PLANNING, ESTATE PLANNING AND OTHER FINANCIAL SERVICES. EACH MEMBER HAS ACCESS TO THEIR FINANCIAL PRODUCTS AND INFORMATION THROUGH THEIR OWN FINANCIAL SERVICE ADVISORS AND/OR HOME OFFICE MEMBER SERVICES REPRESENTATIVE.


FRATERNAL BENEFITS & COMMUNITY OUTREACH: THE SOCIETY EXISTS TO BENEFIT ITS MEMBERS AND COMMUNITY IN NON-FINANCIAL WAYS. THIS INCLUDES FAITH BASED EDUCATION, FRATERNAL SOCIAL EVENTS AND COMMUNITY OUTREACH. THE SOCIETY IS COMMITTED TO PROVIDE FRATERNAL BENEFITS INCLUDING CHILD CANCER AND ORPHAN BENEFITS, WILL PREPARATION BENEFIT AND THE COORDINATION AND SUPPORT OF COMMUNITY SERVICE. IN ADDITION TO MONETARY CONTRIBUTIONS OVER 58,000 HOURS OF SERVICE WERE DONATED TO SUPPORT VARIOUS DIOCESAN AND COMMUNITY PROGRAMS AND EVENTS IN 2021 VALUED AT NEARLY $1.7 MILLION.


Get More from Intellispect for FreeCreate a free account to get more data, nonprofit salaries, advanced search and more.

Outside Vendors & Contractors

Vendor Name (Service)Compensation
Asset Allocation & Management Co Llc
Investment Management
$614,695
John Augustine
Sales Advisor
$196,324
Wellington Management Co Llp
Investment Management
$1,097,804
Karen Stiles
Sales Advisor
$180,304
American Benefit Llc
Independent Insurance Agency
$196,187
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$2,170
Fundraising events$0
Related organizations$0
Government grants $0
All other contributions, gifts, grants, and similar amounts not included above$0
Noncash contributions included in lines 1a–1f $0
Total Revenue from Contributions, Gifts, Grants & Similar$2,170
Total Program Service Revenue$62,874,361
Investment income $71,483,505
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $542,017
Net Gain/Loss on Asset Sales $890,861
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $138,292,152

Grants Awarded

Over the last fiscal year, Catholic Financial Life has awarded $628,603 in support to 20 organizations.

Grant RecipientAmount

CATHOLIC FINANCIAL LIFE FOUNDATION INC

Org PageRecipient Profile

Milwaukee, WI

PURPOSE: Primarily supporting Catholic education

$320,625

FEDERATION OF CROATIAN SOCIETIES

Org PageRecipient Profile

Milwaukee, WI

PURPOSE: Civic Sponsorship

$50,500

CRISTO REY JESUIT HIGH SCHOOL

Org PageRecipient Profile

Milwaukee, WI

PURPOSE: High School Scholarships

$43,500

ST JOAN ANTIDA HIGH SCHOOL

PURPOSE: Support Catholic education

$36,528

MILWAUKEE CATHOLIC HOME

Org PageRecipient Profile

Milwaukee, WI

PURPOSE: Civic Sponsorship (Assisted Living)

$25,000

SOCIETY OF ST VINCENT DE PAUL INC

Org PageRecipient Profile

Maryland Heights, MO

PURPOSE: Civic Sponsorship

$20,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Catholic Financial Life has recieved totaling $108,484.

Awarding OrganizationAmount
Catholic Financial Life Foundation Inc

Milwaukee, WI

PURPOSE: LOVE ONE ANOTHER CAMPAIGN

$60,600
Catholic Financial Life Foundation Inc

Milwaukee, WI

PURPOSE: HIGH SCHOOL AND COLLEGE SCHOLARSHIPS

$47,884
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$2,010,779
Earnings$197,071
Admin Expense$5,665
Grants$89,471
Ending Balance$2,112,714

Create an account to unlock the data you need.

or