Catholic Financial Life Foundation Inc
501(c)(8) Donations tax-deductible
100% goes to programs Strong reserves Growing revenue
Catholic Financial Life Foundation Inc is a 501(c)(8) organization based in Milwaukee, Wisconsin, registered in 1941, with $162,824,762 in FY2024 revenue. CharityIndex grades it B+, and it directs about 100% of spending to programs.
1100 W Wells St, Milwaukee, WI, 53233 EIN 39-0201015 Since 1941
Revenue (FY2024)
$162.8M
▲ 0.6% vs prior year
Expenses (FY2024)
$158.7M
Net assets
$161.5M
Employees
176
CharityIndex rating
One independent A+ to F grade from four published criteria, each scored separately from IRS filings and combined by weight.
B+
C+Program efficiency40% of the rating100% to programs
Measures how much of every dollar spent actually reaches programs, plus what it costs to raise $100 of donations. The worse of the two measures sets the letter (85%+ to programs is an A; under $15 to raise $100 is an A), averaged over the three most recent filings. For Catholic Financial Life Foundation Inc: 100% to programs earns a C+ on this criterion. See the exact thresholds →
AFinancial health25% of the rating12 mo reserves · +3% margin
Measures whether the organization is built to last: how many months its reserves would cover expenses (3+ months earns an A-range score, but hoarding 5+ years of budget is capped) and whether it runs a surplus or a deficit. For Catholic Financial Life Foundation Inc: 12 mo reserves · +3% margin earns a A on this criterion. See the exact thresholds →
A+Governance25% of the rating6 of 6 checks met
Checks how the organization is run, from its own Form 990: an independent board majority, a board of five or more, conflict-of-interest, whistleblower and document-retention policies, and independently audited financials. The share of disclosed checks that pass sets the letter. For Catholic Financial Life Foundation Inc: 6 of 6 checks met earns a A+ on this criterion. See the exact thresholds →
A+Transparency10% of the rating5 of 5 disclosure signals
Counts five disclosure signals: a recent filing, a mission statement, program descriptions, a listed website, and the full expense breakdown. More disclosure, better letter. For Catholic Financial Life Foundation Inc: 5 of 5 disclosure signals earns a A+ on this criterion. See the exact thresholds →
Show this grade on your website
A live seal — it updates automatically when the grade changes and links donors to this verified profile.
Mission
Trusted fraternal life, a fraternal benefit society, facilitates consolidation within the fraternal life insurance sector while preserving the unique identities and traditions of its member organizations. it provides financial strength, technology, and additional products to its family of brands, which include catholic financial life, woman's life, and degree of honor. tfl's core purpose is to serve communities, provide financial security, and enhance the quality of life for its members and their families.
What they do
Fraternal benefits & community outreach: the society exists to benefit its members and community in non-financial ways. this includes faith based education, fraternal social events and community outreach. the society is committed to provide fraternal benefits including child cancer and orphan benefits, will preparation benefit and the coordination and support of community service. in addition to monetary contributions, over 109,775 hours of service were donated to support various diocesan and community programs and events in 2024 valued at nearly $3.7 million.
Contact & location
Financial trends
Revenue grew from $129.3M (FY2013) to $162.8M (FY2024) across 12 reported years.
Financial snapshot
Financial health & position (FY2024)
Liabilities $1.7BNet assets $161.5M
Operating margin
2.5%
Revenue exceeded expenses in the latest fiscal year.
Total assets
$1.9B
Total liabilities
$1.7B
Net assets
$161.5M
Salaries & benefits
$14.0M
9% of expenses
Board members
14
11 independent
Financials by year
| Fiscal year | Revenue | Expenses | Net assets | Total assets | Form |
|---|---|---|---|---|---|
| 2024 | $162,824,762▲0.6% | $158,715,741▲4.6% | $161,517,699▲16.7% | $1,905,498,742▲10.1% | 990 |
| 2023 | $161,829,151▲26.8% | $151,748,838▲27.9% | $138,363,367▲3.4% | $1,731,339,776▲2.6% | 990 |
| 2022 | $127,605,313▼7.7% | $118,686,636▼6.6% | $133,771,483▲7.9% | $1,688,153,935▼0.5% | 990 |
| 2021 | $138,292,152▼2.3% | $127,105,719▼0.4% | $123,985,613▲8.6% | $1,696,774,589▲0.8% | 990 |
| 2020 | $141,566,619▼8.5% | $127,613,237▼12.6% | $114,127,622▲4.5% | $1,683,228,815▲0.3% | 990 |
| 2019 | $154,766,865▼1.4% | $146,089,742▲2.4% | $109,240,783▲9.9% | $1,678,942,715▲1.5% | 990 |
| 2018 | $156,982,865▼0.3% | $142,675,339▼1.8% | $99,357,420▲12.8% | $1,653,316,399▲0.7% | 990 |
| 2017 | $157,387,126▲12.9% | $145,334,684▲13.8% | $88,051,947▲24.4% | $1,641,577,299▲15.8% | 990 |
| 2016 | $139,343,312▲9.3% | $127,723,135▲8.4% | $70,783,813▲22.9% | $1,417,204,684▲2.8% | 990 |
| 2015 | $127,490,089▼1.2% | $117,845,267▼0.4% | $57,602,613▲25.2% | $1,378,099,759▲2.1% | 990 |
| 2014 | $129,044,544▼0.2% | $118,286,105▼3.2% | $45,993,651▲6.6% | $1,350,071,147▲2.2% | 990 |
| 2013 | $129,344,076 | $122,156,498▼13.0% | $43,152,224▲40.0% | $1,320,445,745▲2.5% | 990 |
| 2012 | — | $140,363,751▼7.1% | $30,819,724▲10.3% | $1,288,204,173▲3.7% | 990 |
| 2011 | — | $151,149,075 | $27,950,618 | $1,242,691,239 | 990 |
Original Form 990 PDFs (the Form column) are served by ProPublica Nonprofit Explorer, as filed with the IRS. Create a free account to download the CSV report.
Leadership & compensation (FY2024)
Highest-paid: John T Borgen — $509,886 (0.32% of total expenses)
| Name | Title | Hours/week | Compensation |
|---|---|---|---|
| John T Borgen | President and Chief Executive Officer | 45 | $509,886 |
| Christopher J Martin | Vice President Compliance | 45 | $410,094 |
| Kari R Diestelhorst | Chief Financial Officer | 45 | $287,809 |
| Michael C Eyrich | Vice President Distribution | 45 | $263,559 |
| Michael J Attewell | Chief Information Officer | 45 | $260,874 |
| Linda M Hanson | Vice President Actuary | 45 | $240,685 |
| Joseph K Kohut | Director of Brokerage Operations | 45 | $229,920 |
| Janet J Carmody | Director of Information Systems | 45 | $229,393 |
| Sara J Walker | Vice President Investments | 45 | $220,910 |
| Rogelio Cabral | Vice President Sales | 45 | $215,135 |
| Kristen L Mueller | Secretary and Vice President Human Resources | 45 | $210,180 |
| Peter L Duellman | Director of Actuarial and Analystics | 45 | $205,694 |
| Amy L Bellows | Vice President Transformation | 45 | $193,599 |
| Julie B Langolf | Director of Office Administration | 45 | $192,783 |
| Jake G Maliszewski | Director of Financial Planning & Analysis | 45 | $158,628 |
| William R O'toole | Former Chief Executive Officer | 0 | $55,073 |
| Allan G Lorge | Director and Board Chair | 4 | $50,000 |
| William R O'toole | Director | 3 | $38,000 |
| Michael A Giffhorn | Director | 3 | $34,000 |
| Kari L Niedfeldt-thomas | Director | 3 | $31,000 |
Top vendors & contractors (FY2024)
| Contractor | Services | Paid |
|---|---|---|
| Wellington Management Co LLP | Investment Management | $1,080,871 |
| Mti Connect LLC | Print and Mail | $377,512 |
| Debevoise & Plimpton LLP | Legal Services | $351,526 |
| Riad Hasan | Consulting | $285,750 |
| Smartfinancial Solutions | Financial Services | $212,339 |
Grants made · $357K in FY2024
9 grants totaling $357K in FY2024. All grants made by Catholic Financial Life Foundation Inc →
| Recipient | Purpose | Amount |
|---|---|---|
| Catholic Financial Life Foundation Inc | Scholarships and educational initiatives | $277,817 |
| Saint Francis De Sales Seminary | Support catholic education | $20,000 |
| National Council of the United States Society of St Vincent De PA | National partner | $11,693 |
| Province of St Joseph of the Capuchin Order Inc | General support and sponsorship | $10,000 |
| Catholic Charities Foundation of the Archdiocese of Milwaukee Inc | Support catholic education | $10,000 |
| United Way of Greater Milwaukee & Waukesha County Inc | General support | $9,400 |
| United Community Center Inc | General support for hispanic initiatives | $6,410 |
| Ukrainian Resistance Foundation | Humanitarian relief | $5,892 |
| St Joseph Catholic Academy | Support catholic education | $5,500 |
Frequently asked questions
- Is Catholic Financial Life Foundation Inc a legitimate nonprofit?
- Yes. Catholic Financial Life Foundation Inc is a 501(c)(8) organization registered with the U.S. Internal Revenue Service under EIN 39-0201015, based in Milwaukee, Wisconsin. Donations are tax-deductible.
- What is Catholic Financial Life Foundation Inc's EIN?
- Catholic Financial Life Foundation Inc's Employer Identification Number (EIN) is 39-0201015.
- How much revenue does Catholic Financial Life Foundation Inc report?
- Catholic Financial Life Foundation Inc reported $162,824,762 in total revenue on its fiscal year 2024 IRS Form 990 filing.
- How much of Catholic Financial Life Foundation Inc's spending goes to programs?
- Catholic Financial Life Foundation Inc spends about 100% of its total expenses on programs, based on its latest IRS Form 990.
- What financial grade does Catholic Financial Life Foundation Inc have?
- CharityIndex grades Catholic Financial Life Foundation Inc B+, based on program efficiency and fundraising cost.
- How much does Catholic Financial Life Foundation Inc's highest-paid employee make?
- The highest reported compensation on Catholic Financial Life Foundation Inc's latest Form 990 is $509,886, paid to John T Borgen (President and Chief Executive Officer).
More nonprofits in Milwaukee
Explore more
Data for Catholic Financial Life Foundation Inc (EIN 39-0201015) comes from the IRS Business Master File and e-filed Form 990 returns, via CharityIndex. Figures reflect what the organization reported to the IRS for each fiscal year.