LOVE. what love looks like 2015 ANNUAL REPORT

Transcription

1 LOVE what love looks like 2015 ANNUAL REPORT

2 What does love look like? It has the hands to help others. It has the feet to hasten to the poor and needy. It has eyes to see misery and want. It has the ears to hear the sighs and sorrows of men. LOVE That is what love looks like. Saint Augustine, Confessions You tell us that to love God and neighbor is not something abstract, but profoundly concrete: it means seeing in every person the face of the Lord to be served, to serve him concretely. And you are, dear brothers and sisters, the face of Jesus. Pope Francis Since 2001, The Catholic Community Foundation has supported effective philanthropy in Southeastern Wisconsin through two main roles: Helping donors establish permanent charitable funds to create longlasting support for the causes they care about Offering parishes, schools and other Catholic organizations cost-effective, socially responsible investment management to keep endowment assets growing 1

3 whatlove looks like Dear Friends, This year s annual report for The Catholic Community Foundation includes quotes from two great spiritual leaders, St. Augustine and Pope Francis, offering clear directions on how to love our neighbor. Past and present, these men urge us to act. The Catholic Community Foundation offers a way to act effectively. We make philanthropy easy and as a result, life is better for children, for families, and for people of all ages who face poverty, discrimination and violence. Our donors and the Foundation show what love looks like every day. We lend our hands and minds to schools, parishes and other organizations, building strength through costeffective, socially responsible investment management. We restore hope through grants to a wide range of charitable organizations; see the list of recipients starting on page 11. As of the end of our fiscal year, our assets from which we lend our help, have grown to over $87.4 million. As a not-for-profit 501(c)(3) corporation, the Foundation is independent of the Archdiocese of Milwaukee. Our board of directors includes Catholic religious and community leaders. With our donors, we sustain and spread Catholic values here in Southeastern Wisconsin, awarding $841,378 this year and over $6.2 million since our inception in Let us help you create your legacy and show the world what love looks like. It s time for all of us to act! Mary Ellen Markowski President John A. Herbers Chairman of the Board November

4 LOVE in the community 3

5 SERVING those who SERVED us There s no reason anyone in our community should be homeless. And The phone keeps ringing for Kirsten Sobieski, Executive Director of the Milwaukee Homeless Veterans Initiative. We get calls from organizations who can t do housing themselves, she says. They know we can step in, work one-on-one with the veteran good chance you ll end up on the streets, Kirsten says. There s no reason anyone in our community should be homeless. And there s no reason anyone who served our country should be in this position, whether they ve been home one month or 20 years. They re leaving a job, not retiring with a pension and benefits, she explains. People don t always understand that. Although today s young vets are coming home to an improving economy, Kirsten says they still face barriers to employment. Some companies worry about posttraumatic stress disorder and don t there s no reason and agencies who do housing. They know we can get results. As a veteran herself, Kirsten understands the challenges want to hire veterans, she says. But others are gradually making hiring anyone who served Started by veterans in 2008, of people leaving the military. veterans a priority. our country should MHVI guides homeless and at-risk veterans to their highest levels of be in this position, independence. The organization has helped more than 1,500 veterans whether they ve obtain benefits, housing, health care, household goods, food, clothing, been home one transportation and other necessities. month or 20 years. Milwaukee has a very good VA hospital but if you come here without a home or a job, there s a 4

6 Financial support from The Catholic Community Foundation is a lifeline for the initiative, Kirsten says. Even more important, the Foundation brings focus to what s happening in our community. MHVI collaborates with other local agencies, avoiding duplication of services. It s important for people to see that we work with other organizations, Kirsten says. We can t do this alone. We re all in this together. Financial support from The Catholic Community Foundation is a lifeline for the initiative, Kirsten says. Even more important, the Foundation brings focus to what s happening in our community. That includes filling in the gaps when another agency can t meet a specific need. As the MHVI website says, We operate without red tape. There is no Catch-22 here. If you wore a uniform, you re a veteran and we will help you. And that s why Kirsten s phone keeps ringing. n 5

7 LOVE through giving 6

8 DONOR FUNDS within the foundation Through the Foundation, you can give to a Catholic cause or causes that further the Church s mission, primarily in Southeastern Wisconsin. Your gift is invested in a permanent endowment, from which we award grants each year. Choose from the following fund types, naming your fund to reflect your philanthropic purpose. n Robert T. Bautch and Randi L. Bautch Fund n Joseph F. and Catherine M. Bennett Family Fund n Fred and Karen Bersch Family Fund n Andrew F. Boldt Memorial Scholarship Fund n Bishop Brust Memorial Fund n Building the Faith General Fund n James and Mary Crewe Rome Fund n Reverend Leslie Darnieder Scholarship Fund n Sarah M. Dean Fund n DePorres Scholarship Fund n Directors Legacies of Faith Fund n Henry and Francine Ducat Fund n Education Endowment Fund n Carl and Ethel Groth Endowment Fund n Brian D. Hanley Fund n Father Gerald B. Hauser and John and Ruth Kegel Priesthood Scholarship Fund n John C. (Jack) and Hildegard A. Heegeman Scholarship Fund n JCC Fund n Rev. Carl M., Eugenia, and Lauretta Kazmierczak Priesthood Support Fund n Judith A. Keyes Family Fund n Audrey J. Komarek Fund n Legacy Fund for Tomorrow s Present: A Lasting Tribute to the Work of Lisa-Marie Calderone-Stewart, Ed.D. n Elise T. and Paul W. Meyer Fund n Mission Fund n Mary Agnes Navin Fund n The Sacred Heart Fund n St. Aemilian Fund n St. Anthony Fund n St. Gerard Association Endowed Scholarship Fund n Marilyn C. Schmit, Ph.D. Fund n Allen and Diane Spaeth Charitable Fund n Archbishop Rembert G. Weakland Fund n Whelandale Trust n Charles and Sara Wieber Family Fund Advised Fund You recommend charitable organizations for grants, with the option to change recipients from year to year. Advised funds may offer you more advantages than a private foundation. Designated Fund You create a fund to benefit one or more specific charitable agencies or organizations. Field of Interest Fund You indicate a charitable area of interest, and we find grant recipients in that area. Unrestricted Fund You give the Foundation full discretion in awarding grants. Supporting Foundation Private foundations are welcome to become part of The Catholic Community Foundation. n RWH and EMH Estate Fund n Yaniak Fund 7

9 LOVEfor parishes 8

10 AGENCIES The Foundation s assets under management include endowment funds of local parishes, schools and other Catholic organizations. Funds are pooled in a well-diversified, socially responsible portfolio to maximize cost savings and investment performance. Many of these agencies have multiple funds. n Archdiocese of Milwaukee n Blessed Sacrament, Milwaukee n Blessed Trinity, Sheboygan Falls n The Cathedral of St. John the Evangelist, Milwaukee n Catholic Charities of the Archdiocese of Milwaukee, Inc. n Christ King, Wauwatosa n Congregation of Good Shepherd, Eden n Divine Savior Holy Angels High School n Faith In Our Future Trust n Holy Angels, West Bend n Holy Family, Whitefish Bay n Lumen Christi, Mequon n Marquette University High School n Our Lady of Divine Providence, Milwaukee n Our Lady of Good Hope, Milwaukee n Our Risen Savior, Eldorado n Presentation of the Blessed Virgin Mary, North Fond du Lac n Sacred Heart, Racine n St. Alphonsus, Greendale n St. Andrew, Delavan n St. Anthony on the Lake, Pewaukee n St. Bernard, Wauwatosa n St. Boniface, Germantown n St. Bruno, Dousman n St. Catherine, Milwaukee n St. Charles, Hartland n St. Dominic, Brookfield n St. Edward, Racine n St. Eugene, Fox Point n St. Frances Cabrini, West Bend n Saint Francis de Sales Seminary n St. James, Mukwonago n St. John Vianney, Brookfield n St. Kilian, Hartford n St. Leonard, Muskego n St. Luke, Brookfield n St. Margaret Mary, Milwaukee n St. Martin de Porres, Milwaukee n St. Mary, Dover n St. Mary, Menomonee Falls n St. Mary, Waukesha n St. Mary s Visitation, Elm Grove n St. Paul, Milwaukee n St. Peter, Kenosha n Ss. Peter and Paul, Milwaukee n St. Robert Bellarmine, Union Grove n St. Roman, Milwaukee n St. Theresa, Eagle n Salesianum Alumni/AE Association n Sheboygan County Catholic Fund, Inc. n Society for the Propagation of the Faith n Three Holy Women, Milwaukee n Waukesha Catholic School System, Inc. n Wisconsin Catholic Conference 9

11 LOVE for grant recipients 10

12 GRANT RECIPIENTS The Catholic Community Foundation this fiscal year 2014/2015 awarded $841,378 in grants for programs/projects that support our four priorities. We focus on four areas: education; leadership development; health care for the underserved in Milwaukee; and community building to strengthen families, parishes and those suffering from poverty, discrimination and violence. Since inception, the Foundation has awarded over $6.2 million in grants. The following organizations received grants from donor funds within the Foundation. n All Saints Catholic School, Kenosha... $ 5,000 n Archdiocese of Milwaukee...$ 61,800 (various programs) n Basilica of the National Shrine of Mary Help of Christians at Holy Hill...$ 575 n Benedict Center...$ 10,000 n Blessed Sacrament School...$ 800 n Bread of Healing Clinic...$ 5,000 n Cardinal Stritch University....$ 1,860 n Casa Romero Renewal Center...$ 7,500 n Catholic Charities...$ 24,200 n Catholic Memorial High School....$ 13,000 n Catholic Stewardship Appeal...$ 2,225 n Christ King School....$ 2,288 n College Possible...$ 6,000 n CommonGround Ministry...$ 7,500 n CORE/El Centro...$ 10,000 n Dismas Ministry...$ 3,000 n Divine Mercy School...$ 14,016 n Divine Savior Holy Angels High School...$ 4,000 n Dominican High School....$ 5,000 n Feeding America Eastern Wisconsin....$ 280 n Foundation for Religious Retirement....$ 10,580 n Foundation for St. Francis and Franklin... $ 7,500 n Franciscan Peacemakers....$ 10,000 n The Gathering of Southeast Wisconsin....$ 15,000 n Gesu Parish....$ 2,880 n Glenmary Sisters...$ 4,425 n Guest House....$ 10,000 n Holy Angels, West Bend... $ 22,510 n Holy Angels School Trust Fund...$ 23,085 n Holy Wisdom Academy....$ 1,600 n Hope Center, Waukesha $ 10,000 n House of Peace....$ 12,000 n Hunger Task Force....$ 2,500 n Inspirio Youth Ministries, Inc.... $ 7,500 n John Paul II Academy, Racine... $ 13,350 n Kathy s House...$ 5,000 n Life s Connection, Mukwonago.... $ 5,000 n Lumen Christi Congregation...$ 7,900 n Marquette University...$ 12,375 n Marquette University High School...$ 6,000 n Marquette University School of Dentistry...$ 2,000 n Mary, Queen of Saints Catholic Academy... $ 4,000 n Medical College of Wisconsin....$ 10,000 n Messmer Catholic Schools...$ 10,000 n Midwest Pastoral Administrators...$ 2,500 n Milwaukee Center for Independence...$ 5,000 n Milwaukee Christian Center...$ 10,000 n Milwaukee Habitat for Humanity...$ 500 n Milwaukee Homeless Veterans Initiative...$ 10,000 n Milwaukee Rescue Mission...$ 5,000 n My Home, Your Home.... $ 10,000 n Near South Side Catholic Schools....$ 12,500 n Notre Dame Schools of Milwaukee...$ 11,410 n Office of the Propagation of the Faith....$ 1,060 n Open Door Cafe at the Cathedral of St. John the Evangelist... $ 10,000 11

13 GRANT RECIPIENTS continued n Our Lady Queen of Peace School...$ 800 n Penfield Children s Center....$ 10,000 n Petawa Residence and Cultural Center....$ 5,000 n Philippine Cultural and Civic Center Foundation...$ 2,400 n Pius XI High School....$ 2,208 n Pius XI High School Performing Arts Academy...$ 7,500 n Prevent Blindness...$ 2,500 n St. Adalbert School... $ 1,600 n St. Alphonsus School, Greendale... $ 3,057 n St. Andrew School, Delavan... $ 10,000 n St. Anthony on the Lake, Pewaukee... $ 3,900 n St. Anthony School Milwaukee... $ 7,500 n St. Benedict Community Meal... $ 15,000 n St. Ben s Clinic at the Cathedral Center... $ 10,000 n St. Bruno School, Dousman... $ 10,000 n St. Catherine High School, Racine... $ 6,675 n St. Charles Borromeo School... $ 800 n St. Elizabeth Ann Seton Dental Clinic... $ 10,000 n St. Francis de Sales School, Lake Geneva...$ 9,000 n Saint Francis de Sales Seminary...$ 38,830 n St. Gregory the Great School... $ 6,000 n St. Joan Antida High School... $ 10,000 n St. John the Evangelist School... $ 5,600 n St. Josaphat School.... $ 800 n St. Joseph Catholic Academy...$ 832 n St. Joseph Foundation... $ 10,000 n St. Lawrence Seminary High School.... $ 416 n St. Leonard School, Muskego... $ 2,000 n St. Martin of Tours School, Franklin... $ 10,000 n St. Mary Catholic School, Burlington... $ 7,500 n St. Peter Catholic School, Slinger... $ 3,000 n St. Peter, Slinger... $ 575 n St. Rafael the Archangel School... $ 1,600 n St. Robert Catholic Church, Shorewood... $ 5,000 n St. Roman School... $ 800 n St. Thomas Aquinas Academy....$ 2,700 n Saint Thomas More High School...$ 17,832 n St. Vincent de Paul Society of Milwaukee... $ 10,000 n Salesian Missions...$ 4,425 n Salvatorian Mission Warehouse...$ 16,740 n School Sisters of Notre Dame....$ 16,425 n Serenity Inns....$ 1,000 n SET Ministry $ 7,500 n SHARP Literacy....$ 7,500 n Sisters of St. Francis of Assisi.... $ 4,425 n Sixteenth Street Community Health Center $ 7,500 n Three Holy Women...$ 1,300 n United Community Center...$ 7,500 n Vision Forward...$ 10,000 n Waukesha Catholic School System, Inc.... $ 7,300 n Wauwatosa Catholic...$ 416 n Women s Care Center, Milwaukee... $ 15,000 n The Women s Center, Waukesha.... $ 2,000 n Women s Support Centers of Milwaukee...$ 5,000 12

14 STATEMENT OF FINANCIAL POSITION June 30, 2015 and 2014 ASSETS Current Assets Cash and cash equivalents: Foundation $133,755 $80,354 Agency funds 30, ,000 Accounts receivable 111,420 91,858 Prepaid expenses 4,234 4,024 Total Current Assets $279,409 $451,236 LIABILITIES AND NET ASSETS Current Liabilities Accounts payable: Foundation $100,644 $78,758 Agency funds 117,856 93,319 Accrued liability 25,033 40,292 Current portion of capital leases 2,512 2,094 Total Current Liabilities $246,045 $214,463 Property & Equipment $14,817 $18,289 Investments (at fair value) Long-term investments $26,729,348 $26,596,468 Agency funds 60,681,186 53,081,496 Total Investments $87,410,534 $79,677,964 TOTAL ASSETS $87,704,760 $80,147,489 Long-Term Liabilities Long-term portion of capital leases 2,496 4,966 Agency funds 60,593,330 53,263,177 Total Long-Term Liabilities $60,595,826 $53,268,143 TOTAL LIABILITIES $60,841,871 $53,482,606 Net Assets Unrestricted funds $18,194,253 $17,583,248 Temporarily restricted funds 8,668,636 9,081,635 Total Net Assets $26,862,889 $26,664,883 TOTAL LIABILITIES AND NET ASSETS $87,704,760 $80,147,489 13

15 STATEMENT OF ACTIVITIES year ended June 30, 2015 and 2014 Temporarily Year Ended Temporarily Year Ended Public Support and Revenue Unrestricted Restricted 2015 Total Unrestricted Restricted 2014 Total Contributions $1,432,895 $59,641 $1,492,536 $669,697 $669,697 Interest and dividend income 277, , , ,365 $101, ,343 Realized gains (losses) on investments 514, , , , ,487 1,366,019 Unrealized gains (losses) on investments (823,716 ) (422,708 ) (1,246,424 ) 1,593, ,053 2,446,684 Investment management fees (114,600 ) (57,391 ) (171,991 ) (102,515 ) (53,310 ) (155,825 ) Administrative fee on agency endowments 232, , , ,692 Net assets released from restrictions 394,497 (394,497 ) 378,483 (378,483 ) Total Public Support and Revenue $1,914,079 $(412,999) $1,501,080 $3,806,885 $992,725 $4,799,610 Expenses Grants approved for charitable purposes $841,378 $841,378 $754,750 $754,750 Program-related expenses 164, , , ,139 Supporting services: Administrative expenses 297, , , ,382 Total Expenses $1,303,074 $1,303,074 $1,196,271 $1,196,271 Change in Net Assets $611,005 $(412,999 ) $198,006 $2,610,614 $992,725 $3,603,339 Net Assets - Beginning of Year $17,583,248 $9,081,635 $26,664,883 $14,972,634 $8,088,910 $23,061,544 Net Assets - End of Year $18,194,253 $8,668,636 $26,862,889 $17,583,248 $9,081,635 $26,664,883 14

16 SUMMARY OF INVESTMENTS June 30, 2015 and 2014 Investments as of June 30, 2015 Cost Value Fair Value Cash and cash equivalents $349,418 $349,418 Large/mid-cap equities and S&P 500 index fund 18,074,657 28,911,431 Domestic small/mid-cap common stock 9,045,831 9,726,176 International equities 17,944,676 18,588,108 Commodities and inflation hedges 6,760,009 5,934,227 Bond mutual funds 21,169,643 19,850,450 Real estate 402, ,422 Hedge composite 2,750,000 3,216,302 Total Investments $76,496,553 $87,410,534 Investments as of June 30, 2014 Cost Value Fair Value Cash and cash equivalents $1,155,038 $1,155,038 Large/mid-cap equities and S&P 500 index fund 18,069,321 28,970,218 Domestic small/mid-cap common stock 4,338,759 4,781,538 International equities 14,935,303 17,154,245 Commodities and inflation hedges 5,299,819 5,603,692 Bond mutual funds 17,656,667 17,991,449 Real estate 473, ,328 Hedge composite 2,550,000 3,217,456 Total Investments $64,478,845 $79,677,964 15

17 NOTES to financial statements Estimates The preparation of financial statements in conformity with accounting principles generally accepted in the United States of America requires management to make estimates and assumptions that affect the reported amounts of assets, liabilities, revenues and expenses and the disclosures of contingent assets and liabilities at the date of financial statements. Actual results could differ from these estimates. Tax-Exempt Status The Foundation is exempt from federal and state income taxes on related exempt function income under Section 501(c)(3) of the Internal Revenue Code and has been classified as an organization other than a private foundation. The Foundation does not consider any of its support and revenues to be unrelated business income and, accordingly, no provision for income taxes has been provided in the accompanying financial statements. Net Assets Net assets, revenues, gains and losses are classified based on the existence or absence of donor-imposed restrictions. Accordingly, net assets of the Foundation are classified and reported as follows: Unrestricted Net Assets Net assets that are not subject to donor-imposed stipulations. Temporarily Restricted Net Assets Net assets subject to donor-imposed stipulations that either expire by passage of time or can be fulfilled and removed by actions of the Foundation pursuant to those stipulations. Permanently Restricted Net Assets Net assets subject to donor-imposed stipulations that they be maintained permanently by the Foundation. Currently, the Foundation does not have any permanently restricted net assets. Agency Endowment Funds Certain Catholic parishes and other organizations have transferred funds to the Foundation for management. These funds are invested with the other funds of the Foundation, but title is retained by the transferring organization and the funds are reflected in the statements of financial position of the Foundation as investments and the corresponding amounts listed as current and long-term liabilities. The Catholic Community Foundation is audited annually. Copies of the complete audit reports are available upon request. 16

18 BOARD of directors Debra Alder President and CEO, Alder Companies F. Jon Baranko Chief Equity Officer, Wells Capital Management Thuy Barron Director, Deloitte Tax LLP Leslie A. Blum Real Estate Construction Consultant Barbara Anne Cusack Chancellor, Archdiocese of Milwaukee Ann M. Rieger Attorney, Davis and Kuelthau SC Maureen Stapleton President, Stapleton Realty and Appraisal Patricia L. Van Kampen Community Volunteer, former Vice President, Common Stock, Mason Street Advisors LLC Adam J. Wiensch Attorney, Foley and Lardner LLP Thomas J. Fischer Fischer Financial Consulting LLC STAFF Rev. Dan Janasik Pastor, St. Leonard, Muskego Judy Keyes Community Volunteer Very Rev. William Kohler Vicar General, Archdiocese of Milwaukee Mary Ellen Markowski President, The Catholic Community Foundation John A. Herbers Chairman of the Board, Attorney, Reinhart Boerner Van Deuren SC John J. Marek Treasurer and Chief Financial Officer, Archdiocese of Milwaukee John Blickle Controller Julie Kurer Administrative Coordinator Camela M. Meyer Vice President and Trust Officer, The Chicago Trust Company, N.A. David Morris First Vice President, Financial Consultant, RBC Wealth Management 17

19 637 EAST ERIE STREET MILWAUKEE, WI n T: F: n legaciesoffaith.org The Catholic Community Foundation is a not-for-profit Wisconsin Corporation, tax-exempt pursuant to Section 501(c)(3) of the Internal Revenue Code and governed by its own Board of Directors. The Foundation is a separate civil and canonical entity independent of the Archdiocese of Milwaukee. For more information on how you can provide for your community in perpetuity visit legaciesoffaith.org.