Catholic Financial Life

Catholic Financial Life 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 12/2019, Catholic Financial Life employed 184 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes.

For the year ending 12/2019, Catholic Financial Life generated $154.8m in total revenue. This represents relatively stable growth, over the past 5 years the organization has increased revenue by an average of 4.0% each year. All expenses for the organization totaled $146.1m during the year ending 12/2019. While expenses have increased by 4.4% per year over the past 5 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 61 individual grants totaling $2,041,143. 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

2019

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 2019, MEMBERS VOLUNTEERED OVER 104,000 HOURS OF SERVICE VALUED AT NEARLY $2.6 MILLION TO EXTEND THEIR HAND TO HELP OTHERS IN NEED. OVER $1.9 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 104,000 HOURS OF SERVICE WERE DONATED TO SUPPORT VARIOUS DIOCESAN AND COMMUNITY PROGRAMS AND EVENTS IN 2019 VALUED AT NEARLY $2.6 MILLION.


Do You Work With Nonprofits?Intellispect helps service providers identify nonprofit prospects and make contact with decision makers.

Catholic Financial Life Board, Officers & Key Employees

Catholic Financial Life Vendors

Vendor Name (Service)Compensation
Wellington Management Co Llp
Investment Management
$1,081,373
American Benefit Llc
Independent Insurance Agency
$309,338
Strohm Ballweg Llp
Auditors
$200,029
John Augustine
Sales Advisor
$206,354
Paul Hill
Sales Advisor
$170,632
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$2,480
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$2,480
Total Program Service Revenue$79,655,998
Investment income $73,477,666
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $602,358
Net Gain/Loss on Asset Sales -$1,012,052
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $154,766,865

Catholic Financial Life Grants Awarded

Over the last fiscal year, Catholic Financial Life has awarded $356,767 in support to 13 organizations.

Grant RecipientAmount

CRISTO REY JESUIT HIGH SCHOOL

Org PageRecipient Profile

Milwaukee, WI

PURPOSE: Scholarships, capital campaign

$100,500

UNITED COMMUNITY CENTER INC

Org PageRecipient Profile

Milwaukee, WI

PURPOSE: Sponsorship for initiatives

$65,500

NATIVITY JESUIT ACADEMY

Org PageRecipient Profile

Milwaukee, WI

PURPOSE: Support education

$50,000

SOCIETY OF ST VINCENT DE PAUL

Org PageRecipient Profile

Maryland Heights, MO

PURPOSE: National partner

$45,942

ST JOAN ANTIDA HIGH SCHOOL

PURPOSE: Support Catholic education

$26,800

DOMINICAN HIGH SCHOOL

PURPOSE: Support Catholic education

$10,500
View Grant Profile

Endowment Analysis

Beg. Balance$1,758,973
Earnings$293,432
Admin Expense$9,030
Grants$118,455
Ending Balance$1,924,920

Catholic Financial Life Peer Organizations

Organization NameAssets
Royal Neighbors Of America
Rock Island, IL
$185,032,558
Catholic Order Of Foresters
Naperville, IL
$153,310,397
Catholic Financial Life
Milwaukee, WI
$154,766,865
Gleaner Life Insurance Society
Adrian, MI
$108,622,638
Catholic United Financial
Arden Hills, MN
$78,331,214
Western Catholic Union
Quincy, IL
$62,625,218
Moose International Inc
Mooseheart, IL
$52,118,317
National Mutual Benefit
Madison, WI
$36,172,507
Polish National Alliance Of The United States Of Na
Chicago, IL
$35,985,181
Sons Of Norway
Minneapolis, MN
$30,177,301
Betterlife
Madison, WI
$25,149,208
Catholic Holy Family Society
Belleville, IL
$27,997,659

Create a Free Account

Create an account to unlock the data you need.

or
I