Catholic United Financial

Organization Overview

Catholic United Financial is located in Arden Hills, MN. The organization was established in 1940. 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 United Financial employed 121 individuals. This organization is a parent organization of an affiliated group for tax-exemption purposes. Catholic United Financial 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 United Financial generated $64.3m in total revenue. This represents a relatively dramatic decline in revenue. Over the past 7 years, the organization has seen revenues fall by an average of (5.6%) each year. All expenses for the organization totaled $63.8m during the year ending 12/2021. As we would expect to see with falling revenues, expenses have declined by (5.6%) per year over the past 7 years. You can explore the organizations financials more deeply in the financial statements section below.

Mission & Program ActivityExcerpts From the 990 Filing

TAX YEAR

2021

Describe the Organization's Mission:

Part 3 - Line 1

TO PROVIDE OUR MEMBERS WITH LIFE INSURANCE, ANNUITIES AND OTHER PRODUCTS THAT CONTRIBUTE TO THEIR FINANCIAL WELL-BEING AND SUPPORT THE ROMAN CATHOLIC CHURCH IN EXTENDING THE FAITH.

Describe the Organization's Program Activity:

Part 3 - Line 4a

BENEFITS TOTALING $61,598,907 WERE PAID TO OUR MEMBERS IN ACCORDANCE WITH OUR MISSION TO PROVIDE LIFE INSURANCE, ANNUITIES AND OTHER PRODUCTS, SERVICES AND BENEFITS THAT CONTRIBUTE TO THE FINANCIAL WELL-BEING OF OUR MEMBERS AND THEIR FAMILIES. $10,514,576 WAS PAID IN DEATH CLAIMS, $50,940,254 WAS PAID FOR ANNUITY, SUPPLEMENTARY CONTRACT AND OTHER POLICY BENEFITS, AND $144,077 WAS PAID FOR POST-HIGH SCHOOL SCHOLARSHIPS.


IN ACCORDANCE WITH OUR MISSION TO PROMOTE FRATERNALISM AND CHARITY AMONG OUR MEMBERS THROUGH A LOCAL COUNCIL SYSTEM AND REPRESENTATIVE GOVERNANCE, $410,096 WAS PROVIDED TO OUR COUNCILS AND COMMUNITIES. OF THIS AMOUNT, $112,299 WAS SPENT TO CONDUCT OUR TRI ANNUAL CONVENTION AND REGIONAL MEMBER GATHERINGS, $19,653 WAS SPENT ON MEMBER RECOGNITION PROGRAMS AND CONDUCTING GATHER4GOOD EVENTS. GATHER4GOOD IS A VOLUNTEER, FAMILY ORIENTED SERVICE PROJECT STARTED IN 2010 TO ASSEMBLE PERSONAL CARE KITS FOR PEOPLE IN THE LOCAL COMMUNITY EXPERIENCING HOMELESSNESS.


IN ACCORDANCE WITH OUR MISSION TO SUPPORT THE ROMAN CATHOLIC CHURCH IN EXTENDING THE FAITH, COMMENDING AND ENCOURAGING CATHOLIC SCHOOLS AND RELIGIOUS EDUCATION, FRATERNAL BENEFITS TOTALING $447,620 WERE SPENT DURING THE YEAR. OF THIS TOTAL, $91,923 WAS PROVIDED TO CATHOLIC DIOCESES AND PARISHES, $7,500 WAS GRANTED TO ORGANIZATIONS SUPPORTIVE OF EXTENDING CATHOLIC TEACHINGS, $182,659 WAS SPENT AS OPERATING SUPPORT FOR OUR FOUNDATION, AND $165,538 WAS SPENT SUPPORTING CATHOLIC EDUCATION, INCLUDING THE ANNUAL CATHOLIC SCHOOLS RAFFLE. THIS RAFFLE HAS RAISED ALMOST $12 MILLION FOR OVER 100 CATHOLIC SCHOOLS SINCE ITS INCEPTION THIRTEEN YEARS AGO.


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Outside Vendors & Contractors

Vendor Name (Service)Compensation
Securian Asset Management
Investment Advisory
$424,056
Miller & Newberg
Actuarial And Consulting Services
$301,681
Lenore Beilke
Consulting Services
$280,970
Bonsai Llc
Consulting Services
$271,868
Kelly Bretz Llc
Enterprise Risk Management Consulting Services
$270,608
View All Vendors

Financial Statements

Statement of Revenue
Federated campaigns$0
Membership dues$0
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$0
Total Program Service Revenue$44,030,093
Investment income $12,709,656
Tax Exempt Bond Proceeds $0
Royalties $0
Net Rental Income $61,991
Net Gain/Loss on Asset Sales $2,234,832
Net Income from Fundraising Events $0
Net Income from Gaming Activities $0
Net Income from Sales of Inventory $0
Miscellaneous Revenue$0
Total Revenue $64,273,025

Grants Awarded

Over the last fiscal year, Catholic United Financial has awarded $60,000 in support to 2 organizations.

Grant RecipientAmount

CATHOLIC SCHOOLS CENTER OF EXCELLENCE

Org PageRecipient Profile

Minneapolis, MN

PURPOSE: Catholic Education

$40,000

ST HENRY'S CHURCH

Org PageRecipient Profile

Perham, MN

PURPOSE: Catholic Education

$20,000
View Grant Profile

Grants Recieved

Over the last fiscal year, we have identified 2 grants that Catholic United Financial has recieved totaling $141,263.

Awarding OrganizationAmount
Catholic United Financial Foundation

St Paul, MN

PURPOSE: OPERATIONAL SUPPORT

$140,263
Chase Family Foundation

Burnsville, MN

PURPOSE: RELIGIOUS

$1,000
View Grant Recipient Profile

Endowment Analysis

Beg. Balance$2,978,986
Earnings-$32,667
Net Contributions$229,307
Other Expense$140,421
Ending Balance$3,035,205

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