| Entity | Document Type | Tax ID |
|---|---|---|
| Catholic Relief Services--U.S. Conference of Catholic Bishops | Consolidated Audited Financial Statements | Multiple |
| Catholic Relief Services USCCB | IRS Form 990 (Pro Forma) | 13-5563422 |
|
Entity: Catholic Relief Services--U.S. Conference of Catholic Bishops Document Type: Consolidated Audited Financial Statements Tax ID: Multiple |
|
Entity: Catholic Relief Services USCCB Document Type: IRS Form 990 (Pro Forma) Tax ID: 13-5563422 |
| Name | Title | Compensation | |
|---|---|---|---|
| 1 | Sean Callahan | President | $596,551 |
| 2 | Annemarie Reilly | Executive VP, Strategy, Tech & Communications | $356,388 |
| 3 | Schuyler Thorup | Executive VP, Overseas Operations | $352,028 |
|
1 Name: Sean Callahan Title: President Compensation: $596,551 |
|
2 Name: Annemarie Reilly Title: Executive VP, Strategy, Tech & Communications Compensation: $356,388 |
|
3 Name: Schuyler Thorup Title: Executive VP, Overseas Operations Compensation: $352,028 |
According to the Catholic Relief Services (CRS) consolidated audit of September 30, 2021 (Note 11, Donated Agriculture, Other Commodities and Ocean Freight), CRS received "Total donated agriculture, other commodities and ocean freight" in fiscal 2021 on which it placed a value of approximately $335,872,000. [Note: CharityWatch generally excludes the value of in-kind (non-cash) donations of goods and services from its calculations of Program % and Cost to Raise $100. More information on how grades are calculated and the treatment of in-kind donations can be found on the Our Process page.] |
According to the Catholic Relief Services (CRS) consolidated audit of September 30, 2021 (Note 17, Commitments and Contingencies): "CRS entered into a six-year service agreement with a software vendor in 2017, for a minimum financial commitment of $7.2 million over that period. In 2019, CRS extended the contract through 2026 for a minimum financial commitment of $18.6 million. Termination rights under the agreement are only for a breach upon 30 days' notice. As of September 30, 2021, the remaining minimum commitment is $15.7 million. "CRS receives significant financial and non-financial assistance from the U.S. government. Entitlement to such resources is generally conditioned upon compliance with terms and conditions of the related agreements and applicable federal regulations. The use of such resources is subject to audit by governmental agencies, and CRS is contingently liable to refund amounts received in excess of allowable expenditures. As of September 30, 2021 and 2020, CRS has recorded a liability for its estimate of questioned costs that may have to be refunded to the government. "During the year ended September 30, 2018, CRS identified a probable loss of assets relating to a distribution activity in a single overseas operating location. CRS is fully complying with the funder's requests for information. As the matter is still pending resolution, CRS has estimated a contingent liability for the probable loss using information obtained from the investigation as to the nature of how the loss occurred relative to the volume of the overall activity. CRS's estimate of this contingent liability is $10 million and is included as an accrual in the [audited] consolidated financial statements as of September 30, 2021 and 2020. The actual loss (reimbursement to funder), if any, may vary from the estimate and that variance could be material." |
According to the Catholic Relief Services consolidated audit of September 30, 2021 (Note 3, Concentration of Credit Risk): "Cash and cash equivalents and segregated investments include demand deposits that are maintained at various financial institutions in the United States and foreign countries. The total deposits at institutions in the United States exceed the Federal Deposit Insurance Corporation (FDIC) insurance limits. Deposits held at institutions outside of the United States are not subject to insurance. At September 30, 2021 and 2020, $110,996,000 and $73,787,000, respectively, of deposits were in excess of FDIC insurance including $53,105,000 and $43,470,000, respectively, held in numerous financial institutions outside of the United States. "CRS invests in a professionally managed portfolio that contains shares of U.S. Treasury and Agency securities, equity securities, corporate and other private debt securities and investment pools. These investments are exposed to various risks, such as interest rate, market and credit. Due to the level of risk associated with such investments and the level of uncertainty related to changes in the value of such investments, it is possible that changes in risks in the near-term would materially affect investment balances and the amounts reported in the [audited] consolidated financial statements." |
According to the Catholic Relief Services (CRS) audit of September 30, 2021 (Note 20, Subsequent Events): "In November 2021, a donor requested CRS suspend a portion of grant funded program activities in a country program due to political developments. In December 2021, CRS returned $43.5M of unspent funds related to this conditional grant. This conditional grant funding was included in advances received for programs as of September 30, 2021. "In December 2021, CRS identified a probable loss of inventory relating to looting activities in a single overseas operating location. CRS's estimate of this loss is $11.5 million. CRS is fully complying with the funder's request for gathering and communicating information." |
