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Chaminade Development Fund INC FY2024 filing

Tax-deductible

Mineola, NY501(c)(3)Since 1969EducationEIN 23-7069462Revenue $14.3M in FY2024

On file with the IRSJackson Avenue and Emory Road, 11501-0000 · Mineola, NYTax-exempt since Jun 1970Supporting organization — 509(a)(3)

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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.
79¢ of each $1 spent went to programs.
Mission: Form 990 Part I, line 1 · Status: IRS Pub. 78 · Programs: Part IX

Before you give

FY2024 · 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
79%
of spending
Looks good: 79% of spending went to programs; 75% or more.
Pt IX · Ln 25 · col B
Cash reserves
5 mo
of spending, in cash
Looks good: 4.8 months of spending in cash; 3 or more.
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
$346K
0.4% of total assets
Looks good: liabilities are 0% 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
$14.3M
+68% vs prior year
Spent
$11.8M
To programs
79%
Net assets
$92.6M
By yearFY2020–FY2024
Revenue
$14.3M
FY2024▲ +68%
Tap a bar for its year
Revenue by fiscal year
FY2020$7.1M
FY2021$16.8M
FY2022$29.8M
FY2023$8.5M
FY2024$14.3M
FY2024$14.5M
Expenses
$11.8M
FY2024▲ +64%
Tap a bar for its year
Expenses by fiscal year
FY2020$4.8M
FY2021$10.8M
FY2022$5.4M
FY2023$7.2M
FY2024$11.8M
FY2024$9.9M
Net assets
$92.6M
FY2024▲ +14%
Tap a bar for its year
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 FY2024 Form 990 (year ending June 2024) · figures checked against the IRS filing · see the original

Form 990 (PDF) Claim
You’re viewing the FY2024 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

79 cents of each dollar spent went to programs.

Program services 79% · $9.3M Management & general 14% · $1.6M Fundraising 7% · $847K

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 (FY2023); the FY2024 filing did not itemize Part VII
$0Pt VII · Sec A
Bro Joseph D Bellizzi Sm
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 programs · $5.4M · in their own filed words · FY2023
01

Chaminade High School Support

Approximately 1,650 students benefited through reduced tuition charges.

$3.9Mprogram expense
02

Scholarship and Student Aid

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

$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
Boisi Family FoundationFY2025$25K
Irving T Bush Foundation INCFY2025$5K
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 FY2024 990, line by line.

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from philanthropy.org
1The main four
Money inPt VIII
$14.3M
Ln 12
Gifts and grantsLn 1h$11.1M
Investment incomeLn 3$2.1M
Other incomeLn 4–11$996K
Money outPt IX
$11.8M
Ln 25
Programscol B$9.3M
Managementcol C$1.6M
Fundraisingcol D$847K
Owns and owesPt X
$92.6M
net assets · Ln 32
Cash and savingsLn 1–2$4.7M
Total assetsLn 16$92.9M
LiabilitiesLn 26$346K
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$11.1M
Noncash giftsLn 1g$7.0M
Fundraising eventsLn 1c$278K
Fees for servicesLn 2g$76K
Investment incomeLn 3$2.1M
Other incomeLn 4–11$996K
Gains on assetsLn 7−$86K
Total revenueLn 12$14.3M
Assets in detailPt X, end of year
CashLn 1$281K
SavingsLn 2$4.5M
Cash and savings togetherLn 1–2$4.7M
InvestmentsLn 11–13$84.7M
Other assetsLn 15$202K
Total assetsLn 16$92.9M
LiabilitiesLn 26$346K
Net assetsLn 32$92.6M
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 FY24End FY24
Cash and savingsLn 1–2$1.4M$4.7M
InvestmentsLn 11–13$74.8M$84.7M
Total assetsLn 16$81.7M$92.9M
LiabilitiesLn 26$544K$346K
Net assetsLn 32$81.2M$92.6M
4Every line
Statement of functional expensesPt IX · every line
LineTotalProgramsManagementFundraising
Grants to domestic organizationsLn 1$9.3M$9.3M
Other salaries and wagesLn 7$1.0M$620K$406K
Pension plan contributionsLn 8$84K$50K$34K
Other employee benefitsLn 9$230K$144K$85K
Payroll taxesLn 10$74K$45K$29K
Management feesLn 11a$3K$3K
Accounting feesLn 11c$32K$32K
Professional fundraising feesLn 11e$96K$96K
Investment management feesLn 11f$388K$388K
Office expensesLn 13$310K$310K
Other expenses (24a–d)Ln 24$197K$750$197K
Total functional expensesLn 25$11.8M$9.3M$1.6M$847K

Filing history

YearMoney inMoney outIn minus outNet assetsDownload
FY2024 Viewing $14.3M$11.8M$2.5M$92.6M 990 PDF
FY2023 $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 FY2024 990 (6 parts)
Part I · Summary $14,267,683 revenue, 12 lines filed
I-8 Contributions and grantsPrior year $6,144,277$11,139,100
I-9 Program service revenuePrior year $76,000$76,000
I-10 Investment incomePrior year $1,560,302$2,056,943
I-11 Other revenuePrior year $703,101$995,640
I-12 Total revenuePrior year $8,483,680$14,267,683
I-13 Grants and similar amounts paidPrior year $5,133,490$9,326,057
I-14 Benefits paid to membersPrior year $0$0
I-15 Salaries and benefitsPrior year $1,029,537$1,413,689
I-16a Professional fundraising feesPrior year $246,409$96,000
I-17 Other expensesPrior year $776,158$930,331
I-18 Total expensesPrior year $7,185,594$11,766,077
I-19 Revenue less expensesPrior year $1,298,086$2,501,606
Part VI · Governance 4 of 4 board members independent, 4 to look at
VI-1a Voting members of the governing body4
VI-1b Independent voting members4
VI-12a Written conflict of interest policyNo
VI-13 Written whistleblower policyNo
VI-14 Document retention and destruction policyNo
VI-15a Process for setting top official's payNo
VI-2 Family or business relationship among officers or directorsNo
Part VIII · Statement of revenue $14,267,683 across 9 lines filed
VIII-1c Fundraising events$278,496
VIII-1f All other contributions, gifts and grants$10,860,604
VIII-1g Noncash contributions (included above)$6,993,077
VIII-1h Total contributions, gifts and grants$11,139,100
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 $2,142,709$2,142,709
VIII-7 Net gain or loss on sales of assetsExcluded from tax −$85,766−$85,766
VIII-8 Net income from fundraising eventsExcluded from tax $995,640$995,640
VIII-12 Total revenueRelated to mission $76,000 · Unrelated business $0 · Excluded from tax $3,052,583$14,267,683
Part IX · Statement of functional expenses $11,766,077 across 11 lines filed
IX-1 Grants to domestic organizationsPrograms $9,326,057$9,326,057
IX-7 Other salaries and wagesManagement $619,807 · Fundraising $405,905$1,025,712
IX-8 Pension plan contributionsManagement $50,152 · Fundraising $34,055$84,207
IX-9 Other employee benefitsManagement $144,248 · Fundraising $85,293$229,541
IX-10 Payroll taxesManagement $45,175 · Fundraising $29,054$74,229
IX-11a Management feesManagement $3,000$3,000
IX-11c Accounting feesManagement $32,211$32,211
IX-11e Professional fundraising feesFundraising $96,000$96,000
IX-11f Investment management feesManagement $387,500$387,500
IX-13 Office expensesManagement $310,253$310,253
IX-24 Other expenses (24a–d)Management $750 · Fundraising $196,617$197,367
IX-25 Total functional expensesPrograms $9,326,057 · Management $1,593,096 · Fundraising $846,924$11,766,077
Part X · Balance sheet $92,899,604 assets, 14 lines filed
X-1 Cash, non-interest-bearingStart of year $178,568$280,985
X-2 Savings and temporary cash investmentsStart of year $1,244,477$4,457,111
X-3 Pledges and grants receivableStart of year $5,429,396$3,302,838
X-12 Other securitiesStart of year $74,755,283$84,656,424
X-15 Other assetsStart of year $141,260$202,246
X-16 Total assetsStart of year $81,748,984$92,899,604
X-17 Accounts payable and accrued expensesStart of year $304,310$346,159
X-19 Deferred revenueStart of year $23,540$0
X-25 Other liabilitiesStart of year $216,340$0
X-26 Total liabilitiesStart of year $544,190$346,159
X-27 Net assets without donor restrictionsStart of year $39,009,267$47,605,661
X-28 Net assets with donor restrictionsStart of year $42,195,527$44,947,784
X-32 Total net assets or fund balancesStart of year $81,204,794$92,553,445
X-33 Total liabilities and net assetsStart of year $81,748,984$92,899,604
Part XI · Reconciliation of net assets $92,553,445 net assets at year end
XI-1 Total revenue$14,267,683
XI-2 Total expenses$11,766,077
XI-3 Revenue less expenses$2,501,606
XI-4 Net assets at start of year$81,204,794
XI-5 Net unrealized gains (losses) on investments$8,851,090
XI-9 Other changes in net assets−$4,045
XI-10 Net assets at end of year$92,553,445

Form 990 e-file (XML) FY2024 from the IRS · Classification, formation year and address from the IRS Business Master File

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