Chaminade Development Fund INC FY2023 filing

Tax-deductible

Mineola, NY501(c)(3)Since 1969EducationEIN 23-7069462

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To provide catholic education through financial support for Chaminade high school located in mineola, new york.

501(c)(3) charity; gifts are tax-deductible.
71¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2023 · 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
FY2024
latest Form 990
Looks good: the latest return is for FY2024, 2 tax years back; within 2 tax years.
IRS e-file · Filing history
Surplus or deficit
5 of 5
filings with a surplus
Average surplus $7.3M a year · 48% of revenue · last 5 filings
Looks good: a surplus in 5 of the last 5 filings.
Pt I · Ln 19 · 5 filings
Spent on programs
71%
of spending
Fine: 71% of spending went to programs; 65% to 75%.
Pt IX · Ln 25 · col B
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
2
named funders · $30K
Fine: 2 funders name it on their filings; under 3.
Funders’ Sch. I, 990-PF
Liabilities
$544K
0.7% of total assets
Looks good: liabilities are 1% of assets; 50% or less.
Pt X · Ln 26
Independent board members
4
of 4 voting members
Looks good: 4 of 4 voting members are independent, a majority.
Pt VI · Ln 1a–1b
Looks goodFineWorth a lookConcernNo data yetTap a box for the reason.
Revenue
$8.5M
-72% vs prior year
Spent
$7.2M
To programs
71%
Net assets
$81.2M
By yearFY2020–FY2024
Revenue
$8.5M
FY2023▼ -72%
Revenue by fiscal year
FY2020$7.1M
FY2021$16.8M
FY2022$29.8M
FY2023$8.5M
FY2024$14.3M
FY2024$14.5M
Expenses
$7.2M
FY2023▲ +34%
Expenses by fiscal year
FY2020$4.8M
FY2021$10.8M
FY2022$5.4M
FY2023$7.2M
FY2024$11.8M
FY2024$9.9M
Net assets
$81.2M
FY2023▲ +11%
Net assets by fiscal year
FY2020$52.3M
FY2021$58.0M
FY2022$73.2M
FY2023$81.2M
FY2024$92.6M
FY2024$102.5M

From the FY2023 Form 990 (year ending June 2023) · figures checked against the IRS filing · see the original

You’re viewing the FY2023 filing — not the latest on file. See the latest (FY2024) →

Is it real?

Yes. Never revoked by the IRS. Latest filing on record: FY2024. IRS ruling in Jun 1970.

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

Where the money goes

71 cents of each dollar spent went to programs.

Program services 71% · $5.1M Management & general 14% · $1000K Fundraising 15% · $1.1M

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

4 people listed on the 990.

Part VII, Section A · reportable compensation · most recent filed roster (FY2022); the FY2023 filing did not itemize Part VII
$0Pt VII · Sec A
Executive Vice President
$0Pt VII · Sec A
$0Pt VII · Sec A
$0Pt VII · Sec A
See Chaminade Development Fund INC executive salaries →

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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 2No
  • Top official's pay set by an independent reviewPt VI · Ln 15aNo

Programs and updates

Funds Catholic education for Chaminade High School.

Provided by the organization

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2 program services account for $4.4M of program spending, described in the organization's own filed words · FY2022.
01

Chaminade High School Support

Approximately 1,650 students benefited through reduced tuition charges.

$3.8Mprogram expense
02

Scholarship and Student Aid

Partial tuition paid for selected students based upon merit AND/OR financial need - 101 students benefited

$575Kprogram expense

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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
Total grants receivedfrom 2 funders$30K
Grants paid · 6 grants · $30.1M · 2019–2024
Chaminade High SchoolFY2024$4,568,322
Chaminade High SchoolFY2023$4,619,553
Chaminade High SchoolFY2022$4,525,704
Chaminade High SchoolFY2021$3,413,885
Chaminade High SchoolFY2020$9,380,185
Chaminade High SchoolFY2019$3,552,979

By the numbers

The FY2023 990, line by line.

1The main four
Money inPt VIII
$8.5M
Ln 12
Gifts and grantsLn 1h$6.1M
Investment incomeLn 3$1.6M
Other incomeLn 4–11$703K
Money outPt IX
$7.2M
Ln 25
Programscol B$5.1M
Managementcol C$1000K
Fundraisingcol D$1.1M
Owns and owesPt X
$81.2M
net assets · Ln 32
Cash and savingsLn 1–2$1.4M
Total assetsLn 16$81.7M
LiabilitiesLn 26$544K
PeoplePt VI, VII
4
listed · VII A
PaidVII A0
Voting boardVI 1a4
IndependentVI 1b4
2In more detail
Revenue in detailPt VIII
Gifts and grantsLn 1h$6.1M
Noncash giftsLn 1g$97K
Fundraising eventsLn 1c$230K
Fees for servicesLn 2g$76K
Investment incomeLn 3$1.6M
Other incomeLn 4–11$703K
Gains on assetsLn 7−$863K
Total revenueLn 12$8.5M
Assets in detailPt X, end of year
CashLn 1$179K
SavingsLn 2$1.2M
Cash and savings togetherLn 1–2$1.4M
InvestmentsLn 11–13$74.8M
Other assetsLn 15$141K
Total assetsLn 16$81.7M
LiabilitiesLn 26$544K
Net assetsLn 32$81.2M
OperationsPt I, VI
EmployeesI 519
VolunteersI 6195
Fiscal year endsHeaderJune
Conflict-of-interest policyVI 12aNo
Whistleblower policyVI 13No
Records policyVI 14No
3Year over year
Balance sheet, start vs end of yearPt X · col A, B
LineStart FY23End FY23
Cash and savingsLn 1–2$6.3M$1.4M
InvestmentsLn 11–13$62.5M$74.8M
Total assetsLn 16$73.6M$81.7M
LiabilitiesLn 26$345K$544K
Net assetsLn 32$73.2M$81.2M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$5.1M$5.1M
Other salaries and wagesLn 7$704K$247K$457K
Pension plan contributionsLn 8$57K$18K$39K
Other employee benefitsLn 9$211K$89K$122K
Payroll taxesLn 10$57K$19K$38K
Management feesLn 11a$4K$4K
Accounting feesLn 11c$30K$30K
Professional fundraising feesLn 11e$246K$246K
Investment management feesLn 11f$291K$291K
Office expensesLn 13$300K$300K
Other expenses (24a–d)Ln 24$151K$1K$150K
Total functional expensesLn 25$7.2M$5.1M$1000K$1.1M

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 $14.3M$11.8M$2.5M$92.6M 990 PDF
FY2023 Viewing $8.5M$7.2M$1.3M$81.2M 990 PDF
FY2022 $29.8M$5.4M$24.5M$73.2M 990 PDF
FY2021 $16.8M$10.8M$5.9M$58.0M 990 PDF
FY2020 $7.1M$4.8M$2.3M$52.3M 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 FY2023 990 (4 parts)
Part VIII · Statement of revenue $8,483,680 across 9 lines filed
VIII-1c Fundraising events$230,306
VIII-1f All other contributions, gifts and grants$5,913,971
VIII-1g Noncash contributions (included above)$97,040
VIII-1h Total contributions, gifts and grants$6,144,277
VIII-2a-f Program service revenue, itemized rows (sum of 2a–2f as filed)Related to mission $76,000$76,000
VIII-3 Investment incomeExcluded from tax $2,423,571$2,423,571
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$863,269−$863,269
VIII-8 Net income from fundraising eventsExcluded from tax $703,101$703,101
VIII-12 Total revenueRelated to mission $76,000 · Unrelated business $0 · Excluded from tax $2,263,403$8,483,680
Part IX · Statement of functional expenses $7,185,594 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $5,133,490$5,133,490
IX-7 Other salaries and wagesManagement $247,007 · Fundraising $457,162$704,169
IX-8 Pension plan contributionsManagement $18,264 · Fundraising $38,598$56,862
IX-9 Other employee benefitsManagement $89,156 · Fundraising $122,010$211,166
IX-10 Payroll taxesManagement $18,896 · Fundraising $38,444$57,340
IX-11a Management feesManagement $4,500$4,500
IX-11c Accounting feesManagement $30,188$30,188
IX-11e Professional fundraising feesFundraising $246,409$246,409
IX-11f Investment management feesManagement $290,894$290,894
IX-13 Office expensesManagement $299,843$299,843
IX-24 Other expenses (24a–d)Management $1,000 · Fundraising $149,733$150,733
IX-25 Total functional expensesPrograms $5,133,490 · Management $999,748 · Fundraising $1,052,356$7,185,594
Part X · Balance sheet $81,748,984 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $276,431$178,568
X-2 Savings and temporary cash investmentsStart of year $6,018,560$1,244,477
X-3 Pledges and grants receivableStart of year $4,636,005$5,429,396
X-12 Other securitiesStart of year $62,543,983$74,755,283
X-15 Other assetsStart of year $99,074$141,260
X-16 Total assetsStart of year $73,574,053$81,748,984
X-17 Accounts payable and accrued expensesStart of year $326,049$304,310
X-19 Deferred revenueStart of year $19,305$23,540
X-25 Other liabilitiesStart of year $0$216,340
X-26 Total liabilitiesStart of year $345,354$544,190
X-27 Net assets without donor restrictionsStart of year $36,648,381$39,009,267
X-28 Net assets with donor restrictionsStart of year $36,580,318$42,195,527
X-32 Total net assets or fund balancesStart of year $73,228,699$81,204,794
X-33 Total liabilities and net assetsStart of year $73,574,053$81,748,984
Part XI · Reconciliation of net assets $81,204,794 net assets at year end
XI-1 Total revenue$8,483,680
XI-2 Total expenses$7,185,594
XI-3 Revenue less expenses$1,298,086
XI-4 Net assets at start of year$73,228,699
XI-5 Net unrealized gains (losses) on investments$6,688,399
XI-9 Other changes in net assets−$10,390
XI-10 Net assets at end of year$81,204,794

Form 990 e-file (XML) FY2023 from the IRS · Classification, formation year and address from the IRS Business Master File

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