Catholic Schools Foundation INC

Tax-deductible

Boston, MA501(c)(3)Since 1983EducationEIN 22-2485502Revenue $17.9M in FY2025

On file with the IRScsfboston.org67 Batterymarch St 6th Floor, 02110-3204 · Boston, MATax-exempt since Oct 1984Publicly supported charity — 170(b)(1)(A)(vi)

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The Catholic Schools Foundation changes lives by providing families with demonstrated financial need an opportunity to give thier sons and daughters a quality education, focused on christian values and character formation at Catholic Schools located throughout the archdiocese of boston, regardless of race, religion, ethnicity or gender.

501(c)(3) charity; gifts are tax-deductible.
92¢ of each $1 spent went to programs.
Run by 200 volunteers and 8 employees.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX · People: Part I, lines 5–6

Before you give

FY2025 · Form 990Independent: from IRS data, not the org
Download 990
IRS status
501(c)(3)
not on the IRS revocation list
Looks good: listed by the IRS and not on the revocation list.
IRS BMF · Auto-Revocation List
Tax-deductible gifts
Yes
Donations are tax-deductible
Looks good: the IRS lists gifts to it as deductible.
IRS Pub. 78 · IRS BMF
Latest return
FY2025
latest Form 990
Looks good: the latest return is for FY2025, 1 tax year back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
4 of 6
filings with a surplus
Average surplus $5.3M a year · 23% of revenue · last 6 filings
Fine: a surplus in 4 of the last 6 filings.
Pt I · Ln 19 · 6 filings
Spent on programs
92%
of spending
Looks good: 92% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Pay to officers and key staff
$585K
to officers and key staff · 3% of spending
Top officer’s pay higher than 67% of similar orgs
Looks good: pay to officers and key staff is 3% of spending; 15% or less.
Pt VII · Sec A
Cash reserves
2 mo
of spending, in cash
Fine: 2.4 months of spending in cash; 1 to 3.
Pt X · Ln 1–2 · Pt I · Ln 18
Named funders
4
named funders · $178K
Looks good: 4 funders name it on their filings; 3 or more.
Funders’ Sch. I, 990-PF
Liabilities
$18.3M
13% of total assets
Looks good: liabilities are 13% of assets; 50% or less.
Pt X · Ln 26
Independent board members
35
of 35 voting members
Looks good: 35 of 35 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$17.9M
-1% vs prior year
Spent
$19.7M
To programs
92%
Net assets
$128.2M
By yearFY2020–FY2025
Revenue
$17.9M
FY2025▼ -1%
Tap a bar for its year
Revenue by fiscal year
FY2020$17.0M
FY2021$25.3M
FY2022$27.3M
FY2023$29.9M
FY2024$18.1M
FY2025$17.9M
Expenses
$19.7M
FY2025▲ +2%
Tap a bar for its year
Expenses by fiscal year
FY2020$14.7M
FY2021$15.3M
FY2022$15.7M
FY2023$19.2M
FY2024$19.4M
FY2025$19.7M
Net assets
$128.2M
FY2025▲ +3%
Tap a bar for its year
Net assets by fiscal year
FY2020$84.3M
FY2021$111.6M
FY2022$96.0M
FY2023$113.4M
FY2024$124.1M
FY2025$128.2M

From the FY2025 Form 990 (year ending June 2025) · figures checked against the IRS filing · see the original

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Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2025. IRS ruling in Oct 1984.

IRS Pub. 78 · IRS Auto-Revocation List · IRS Business Master File

Where the money goes

92 cents of each dollar spent went to programs.

Program services 92% · $18.1M Management & general 3% · $504K Fundraising 5% · $1.0M

Form 990 Part IX, line 25, columns B–D. Every line is in By the numbers.

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Who runs it and what they're paid

39 people listed on the 990; $585K paid to officers and key staff.

Part VII, Section A · reportable compensation · most recent filed roster (FY2024); the FY2025 filing did not itemize Part VII
Executive Director
$310,219Pt VII · Sec A
Director of Allocations & Operations
$137,893Pt VII · Sec A
Advancement Director
$137,147Pt VII · Sec A
Treasurer
$0Pt VII · Sec A
Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
Senior Vice President
$0Pt VII · Sec A
President Emeritus
$0Pt VII · Sec A

Michael Reardon’s $310K as Executive Director is at the 67th percentile of top reported officer pay among 3683 $10–100M education nonprofits. Peer set: organizations in the same NTEE major field of work and revenue-size band, compared on each org’s own highest-paid officer/key-employee, from Form 990 Part VII / 990-PF Part VIII. Descriptive placement, not a verdict on whether the pay is appropriate.

Compensation history total reportable pay by year · 4 named individuals · Part VII

NameFY2025FY2024FY2023FY2022FY2021FY2020
Michael Reardon$310,219$281,241—$255,827$200,616$206,986
Mike Reardon——$249,470———
Megan Adzima$137,893$142,913$118,733$106,699$104,996—
Gina Rindfleisch$137,147$131,149$110,021$110,741$103,666—

Total reportable compensation (Form 990 Part VII column D / Schedule J column E) by filing year, matched by name within this organization. The Schedule J base / bonus / deferred breakdown is not parsed into this dataset.

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Questions the 990 asks

The form asks each of these directly. These are the filed answers.

  • Family or business ties among officersPt VI · Ln 2Yes
  • Top official's pay set by an independent reviewPt VI · Ln 15aYes

Programs and updates

Provides financial-need scholarships and school-support grants to give diverse students access to quality, values-based education within the Archdiocese of Boston.

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Provided by the organization

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2 programs · $18.1M · in their own filed words · FY2024
01

4,126 scholarship awarded to students to attend catholic schools within the archdiocese of boston as well as for programs to support scholarship recipients.

$16.6Mprogram expense
02

Non-scholarship program grants to support school growth and sustainability, including initiatives for marketing, technology, leadership, counseling, college readiness, regional partnerships and enrichment

$1.5Mprogram expense

Funders

Who pays for it.

From grant filings on record. Receipts are incomplete: individual donors are never listed.

Grants

Schedule I · received and paid
Grants received · FY2025
See all 4 funders →
Grants paid · 253 grants · $57.8M · 2019–2024
Olph Mission Grammar School RoxburyMA · FY2024$1,074,435
Trinity Catholic Academy INCMA · FY2024$737,345
Lowell CatholicMA · FY2024$731,645
Cardinal Spellman High School BrocktonFY2024$658,500
Saint Mary High School LynnFY2024$592,910
Cathedral High School INCMA · FY2024$518,714
Saint Michael School LowellFY2024$478,875
Fontbonne AcademyMA · FY2024$466,500
Malden Catholic High School MaldenFY2024$454,800
Arlington Catholic High School ArlingtonMA · FY2024$443,500
Saint Columbkille Partnership School BrightonFY2024$401,765
Sacred Heart School RoslindaleFY2024$401,725
Immaculate Conception School RevereFY2024$398,630
Saint Pius V School LynnFY2024$332,175
Saint Anthony School EverettFY2024$305,760
See all 253 grants →

By the numbers

The FY2025 990, line by line.

1The main four
Money inPt VIII
$17.9M
Ln 12
Gifts and grantsLn 1h$13.8M
Investment incomeLn 3$4.4M
Money outPt IX
$19.7M
Ln 25
Programscol B$18.1M
Managementcol C$504K
Fundraisingcol D$1.0M
Owns and owesPt X
$128.2M
net assets · Ln 32
Cash and savingsLn 1–2$3.9M
Total assetsLn 16$146.6M
LiabilitiesLn 26$18.3M
PeoplePt VI, VII
39
listed · VII A
PaidVII A3
Voting boardVI 1a35
IndependentVI 1b35
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$13.8M
Noncash giftsLn 1g$199K
Fundraising eventsLn 1c$3.6M
Investment incomeLn 3$4.4M
Gains on assetsLn 7$1.7M
Total revenueLn 12$17.9M
Assets in detailPt X, end of year
CashLn 1$7K
SavingsLn 2$3.8M
Cash and savings togetherLn 1–2$3.9M
InvestmentsLn 11–13$141.1M
Land, buildings, equipmentLn 10c$670
Other assetsLn 15$623K
Total assetsLn 16$146.6M
LiabilitiesLn 26$18.3M
Net assetsLn 32$128.2M
OperationsPt I, VI
EmployeesI 58
VolunteersI 6200
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aYes
Whistleblower policyVI 13Yes
Records policyVI 14Yes
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY25End FY25
Cash and savingsLn 1–2$4.9M$3.9M
InvestmentsLn 11–13$134.8M$141.1M
Land, buildings, equipmentLn 10c$5K$670
Total assetsLn 16$141.5M$146.6M
LiabilitiesLn 26$17.5M$18.3M
Net assetsLn 32$124.1M$128.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$17.5M$17.5M
Pay of current officers, directors and key staffLn 5$359K$108K$36K$216K
Other salaries and wagesLn 7$839K$324K$110K$405K
Pension plan contributionsLn 8$35K$15K$3K$17K
Other employee benefitsLn 9$80K$32K$7K$40K
Payroll taxesLn 10$77K$29K$7K$40K
Legal feesLn 11b$22K$22K
Accounting feesLn 11c$96K$96K
Other fees for servicesLn 11g$61K$31K$30K
Advertising and promotionLn 12$50K$11K$39K
Office expensesLn 13$162K$11K$22K$130K
Information technologyLn 14$40K$11K$10K$19K
OccupancyLn 16$171K$65K$22K$84K
TravelLn 17$11K$2K$4K$5K
Depreciation, depletion and amortizationLn 22$4K$4K
Other expenses (24a–d)Ln 24$157K$4K$130K$23K
Total functional expensesLn 25$19.7M$18.1M$504K$1.0M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2025 Latest Viewing $17.9M$19.7M−$1.8M$128.2M 990 PDF
FY2024 $18.1M$19.4M−$1.3M$124.1M 990 PDF
FY2023 $29.9M$19.2M$10.8M$113.4M 990 PDF
FY2022 $27.3M$15.7M$11.6M$96.0M 990 PDF
FY2021 $25.3M$15.3M$10.0M$111.6M 990 PDF
FY2020 $17.0M$14.7M$2.2M$84.3M 990 PDF

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Schedules filed Part IV

III · Programs I · Grants R · Related orgs G · Fundraising L · Interested persons A · Public support F · Foreign M · Noncash
See the full FY2025 990 (6 parts)
Part I · Summary $17,857,903 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $15,205,489$13,842,225
I-9 Program service revenuePrior year $0$0
I-10 Investment incomePrior year $3,213,773$4,395,091
I-11 Other revenuePrior year −$339,941−$379,413
I-12 Total revenuePrior year $18,079,321$17,857,903
I-13 Grants and similar amounts paidPrior year $17,495,782$17,491,774
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,250,941$1,389,685
I-16a Professional fundraising feesPrior year $0$0
I-17 Other expensesPrior year $609,250$774,850
I-18 Total expensesPrior year $19,355,973$19,656,309
I-19 Revenue less expensesPrior year −$1,276,652−$1,798,406
Part VI · Governance 35 of 35 board members independent, 1 to look at
VI-1a Voting members of the governing body35
VI-1b Independent voting members35
VI-2 Family or business relationship among officers or directorsYes
VI-12a Written conflict of interest policyYes
VI-13 Written whistleblower policyYes
VI-14 Document retention and destruction policyYes
VI-15a Process for setting top official's payYes
Part VIII · Statement of revenue $17,857,903 across 8 lines filed
VIII-1c Fundraising events$3,640,726
VIII-1f All other contributions, gifts and grants$10,201,499
VIII-1g Noncash contributions (included above)$198,786
VIII-1h Total contributions, gifts and grants$13,842,225
VIII-3 Investment incomeExcluded from tax $2,726,097$2,726,097
VIII-7 Net gain or loss on sales of assetsExcluded from tax $1,668,994$1,668,994
VIII-8 Net income from fundraising eventsExcluded from tax −$379,413−$379,413
VIII-12 Total revenueRelated to mission $0 · Unrelated business $0 · Excluded from tax $4,015,678$17,857,903
Part IX · Statement of functional expenses $19,656,309 across 16 lines filed
IX-1 Grants to domestic organizationsPrograms $17,491,774$17,491,774
IX-5 Pay of current officers, directors and key staffPrograms $107,830 · Management $35,943 · Fundraising $215,659$359,432
IX-7 Other salaries and wagesPrograms $324,134 · Management $109,651 · Fundraising $405,067$838,852
IX-8 Pension plan contributionsPrograms $14,675 · Management $3,123 · Fundraising $17,193$34,991
IX-9 Other employee benefitsPrograms $32,404 · Management $7,201 · Fundraising $40,054$79,659
IX-10 Payroll taxesPrograms $29,442 · Management $7,097 · Fundraising $40,212$76,751
IX-11b Legal feesManagement $22,094$22,094
IX-11c Accounting feesManagement $95,862$95,862
IX-11g Other fees for servicesManagement $31,190 · Fundraising $30,000$61,190
IX-12 Advertising and promotionPrograms $10,932 · Fundraising $39,480$50,412
IX-13 Office expensesPrograms $10,708 · Management $21,808 · Fundraising $129,544$162,060
IX-14 Information technologyPrograms $11,449 · Management $10,226 · Fundraising $18,761$40,436
IX-16 OccupancyPrograms $64,661 · Management $22,259 · Fundraising $83,940$170,860
IX-17 TravelPrograms $2,040 · Management $4,201 · Fundraising $4,905$11,146
IX-22 Depreciation, depletion and amortizationManagement $4,029$4,029
IX-24 Other expenses (24a–d)Programs $4,042 · Management $129,738 · Fundraising $22,981$156,761
IX-25 Total functional expensesPrograms $18,104,091 · Management $504,422 · Fundraising $1,047,796$19,656,309
Part X · Balance sheet $146,572,140 assets, 17 lines filed
X-1 Cash, non-interest-bearingStart of year $31,948$6,508
X-2 Savings and temporary cash investmentsStart of year $4,859,290$3,844,761
X-3 Pledges and grants receivableStart of year $1,637,495$895,887
X-9 Prepaid expenses and deferred chargesStart of year $40,473$56,022
X-10c Land, buildings and equipment, netStart of year $4,699$670
X-11 Publicly traded securitiesStart of year $131,399,787$137,637,652
X-12 Other securitiesStart of year $3,433,538$3,507,890
X-15 Other assetsStart of year $138,943$622,750
X-16 Total assetsStart of year $141,546,173$146,572,140
X-17 Accounts payable and accrued expensesStart of year $82,570$81,358
X-18 Grants payableStart of year $17,246,794$17,628,886
X-25 Other liabilitiesStart of year $155,098$634,395
X-26 Total liabilitiesStart of year $17,484,462$18,344,639
X-27 Net assets without donor restrictionsStart of year $43,941,984$44,949,365
X-28 Net assets with donor restrictionsStart of year $80,119,727$83,278,136
X-32 Total net assets or fund balancesStart of year $124,061,711$128,227,501
X-33 Total liabilities and net assetsStart of year $141,546,173$146,572,140
Part XI · Reconciliation of net assets $128,227,501 net assets at year end
XI-1 Total revenue$17,857,903
XI-2 Total expenses$19,656,309
XI-3 Revenue less expenses−$1,798,406
XI-4 Net assets at start of year$124,061,711
XI-5 Net unrealized gains (losses) on investments$5,753,212
XI-9 Other changes in net assets$210,984
XI-10 Net assets at end of year$128,227,501

Form 990 e-file (XML) FY2025 from the IRS · Classification, formation year and address from the IRS Business Master File

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