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Catholic Schools Foundation Inc.

 260 Franklin Street, Suite 630
 Boston, MA 02110
[P] (617) 778-5981
[F] (617) 778-5980
Naila Asif
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 Printable Profile (Summary / Full)
EIN 22-2485502

LAST UPDATED: 01/30/2015
Organization DBA Inner-City Scholarship Fund
Former Names --
Organization received a competitive grant from the Boston Foundation in the past five years No



Mission StatementMORE »

The Catholic Schools Foundation changes lives by providing families with demonstrated financial need an opportunity to give their 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.

Mission Statement

The Catholic Schools Foundation changes lives by providing families with demonstrated financial need an opportunity to give their 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.

FinancialsMORE »

Fiscal Year July 01, 2014 to June 30, 2015
Projected Income $8,000,000.00
Projected Expense $10,000,000.00

ProgramsMORE »

  • CSF Scholars

Revenue vs. Expense ($000s)

Expense Breakdown 2013 (%)

Expense Breakdown 2012 (%)

Expense Breakdown 2011 (%)

For more details regarding the organization's financial information, select the financial tab and review available comments.


Mission Statement

The Catholic Schools Foundation changes lives by providing families with demonstrated financial need an opportunity to give their 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.

Background Statement

In 1983, Most Reverend Thomas V. Daily and Paul J. Birmingham established the St. Anthony's Scholarship Fund to raise money to assist needy students with tuition assistance to Catholic schools. This organization was later incorporated in 1989 as the Catholic Schools Foundation and shortly thereafter, our signature program, the Inner City Scholarship Fund (ICSF) was born. Today, over twenty years later, CSF has expanded thirty-fold with the support of donors and active members from all sections of the community - business, academia, private and religious.

Impact Statement

 Accomplishments in the Last Five Years

·         Over 5000 students receiving scholarship support annually

·         Over 3500 students receiving direct support to address non-academic barriers to learning

·         Over 110 teachers trained integrating technology into the curriculum through a partnership with Boston College

·         Over $600,000 raised in Matching Gifts by schools through CSF Challenge Grants

·         259 Hispanic students enrolled in Catholic schools through the Hispanic Recruitment Initiative


 Current Goals for the Fiscal Year

·         Implement student tracking system to demonstrate long-term outcomes

·         Increase number of scholarship recipients

·         Enhance application process to focus on academic, financial and governance metrics

·         Develop programs to address issues relative to performance in the above areas

·         Develop programs to assist schools with fundraising and marketing

Needs Statement


1.       Implementation of student tracking system - $25,000

This will better demonstrate student progress and outcomes to help determine how to focus funding.

2.       Expansion of the Hispanic Recruitment program to serve more of this at-risk population - $250,000

25% of Hispanic students in MA don’t  finish high school.  If we can get these students into Catholic schools we know that we can better their educational outcomes and provide them a solid foundation.

3.       Implementation of the Catholic Schools Admissions Collaborative - $150,000

Catholic schools run at extremely low cost and therefore most do not have the resources to attract and enroll students.  The net effect is that students who most need this opportunity are unaware of it.  At the same time, families who could pay the tuition do not think of it as an option.

4.       Expansion of the CSF Counseling program- $$100,000

Provides funding for two schools to implement a program that connects at-risk children with a set of prevention, intervention, and enrichment services to provide for the social, emotional, and spiritual needs of young people.

5.       Programs to integrate technology into the curriculum - $125,000

Technology is only useful if teachers make it part of the curriculum.


CEO Statement

As the largest school system in Massachusetts outside of the City of Boston, 45,000 young people from all faiths are benefitting each day from a quality education in environments that nurture each child’s unique spirit.  What goes on in Catholic schools tremendously impacts the outcomes of students and families and shapes their trajectory in life.  With over 70% of families supported by the CSF living below the poverty level, you would expect lower educational outcomes, but this is not the case.  Our schools boast a 98% high school graduation rate.  Years ago these schools were free, staffed by sisters, priests and brothers, today tuition is necessary.  Although modest, averaging $3,800 at the elementary level, still out of reach for many families. Our work bridges that gap.  Not only is this good for the students and families, but this is good for cities and towns.  If Catholic schools were to go away, it would cost tax payers an estimated $500,000,000 in additional taxes each year and overwhelm and already stressed system. In short, Catholic schools work for the students they serve and our community in general.  

Board Chair Statement

Launched in 1983 as the St. Anthony Fund the Catholic Schools Foundation (CSF) annually provides scholarships to over 5,000 inner city students to attend Catholic parochial or high school within the Archdiocese of Boston. These scholarships are awarded to needy students regardless of faith.  The Foundation’s reach is incredibly broad, as scholarships are spread out over 81 schools throughout eastern Massachusetts. 

Understanding that successfully educating  inner city students requires more than just a seat in a classroom, CSF distributes nearly $2 million annually in program support to these schools, ensuring that students have the benefit of advanced educational technology, highly qualified faculty and staff, and counseling as needed.

Catholic schools in general represent a critical and successful educational platform which demonstrates nearly unprecedented success in achieving positive outcomes.  Currently 42,000 students are educated in Archdiocesan Catholic schools – these students achieve a 98% college acceptance rate with dropouts rare - all of this at no cost to tax-payers. 

In short, investing in Catholic education through the Catholic Schools Foundation not only benefits the recipients and their families, but serves the public good as well. Without these schools, it is estimated that it would cost Massachusetts taxpayers approximately $500,000,000 annually and further stress the public schools system.

While the numbers are impressive, the CSF is dedicated to “building minds and changing lives,” so it all comes down to the personal impact that is made on these young people, the vast majority of whom would otherwise be at risk.  I continue to commit myself to this organization because of the way that I have personally seen the extent to which we are changing students’ lives – and helping them and their families to achieve the American dream of making each generation better than that which preceded it. There are countless inspirational accounts about how Foundation has transformed lives and the story of Fortune Kalala is one such example.

Fortune was born in the Democratic Republic of the Congo, and spent his childhood fleeing civil war and rebellion throughout the Congo, Zambia and Mozambique. He and his family spent the first 10 years of his life living in several different refugee camps. In addition to never attending school on a regular basis, he often awoke to gunfire and went days without food.

When Fortune was 11 his family had saved enough money to be able to move to the United States, settling in Lawrence, MA. Fortune struggled in the 7th and the 8th grade, always studying late into the night in order to learn English. In the 8th grade, Fortune applied to Central Catholic High School (CCHS), and with assistance from the donors of the Catholic Schools Foundation was accepted.

 Fortune, then a senior at CCHS, was selected to be the keynote speaker at the CSF Annual Dinner. He told the 900 guests gathered that night about how he was born into a war torn country, how his parents saved the family by bringing them to the United States, how he struggled in the 7thgrade since he spoke very little English. He spoke of how hard he studied, how he got accepted to Central Catholic and how nervous he had been to attend high school.

Fortune then told the guests about making the honor roll every semester and how it felt to be elected captain of the Varsity Football Team. He talked about his school principal, his teachers and his friends. He then announced that he will attend Stonehill College, and plans to become an orthopedic surgeon.   The crowd was hanging on Fortune’s every word. It was apparent to everyone how Fortune was destined for greatness.

Fortune ended his speech with a heartfelt thank you to the donors of the Catholic Schools Foundation. He said, “I have been very blessed by the opportunity that you have given to me and my family, and to so many others, to be able to attend a Catholic school.  I truly believe that my family’s story was never about good luck nor did we do it alone.  I am standing here tonight because I believe that God is working through you and the generosity that is in your hearts.”

Catholic Education changed Fortune’s life. The scholarship he received put him on a new life path. This is why I support the Catholic Schools Foundation.


Geographic Area Served

In a specific U.S. city, cities, state(s) and/or region.

Archdiocese of Boston

Organization Categories

  1. Education - Elementary & Secondary Schools
  2. Youth Development -
  3. -

Independent research has been conducted on this organization's theory of change or on the effectiveness of this organization's program(s)



CSF Scholars

The Catholic Schools Foundation (CSF) Scholars program was established in 2011 to more directly connect high school students who receive CSF funds to CSF and its donors.  CSF Scholars are selected by Catholic high schools in the Archdiocese of Boston upon their acceptance to the school.   Students must have a demonstrated financial need, a passing grade point average (GPA), and good conduct.  In order to keep the pipeline between Catholic elementary and high schools alive, preference for selection as a CSF Scholar is given to students coming from Catholic elementary schools. In addition, in the spirit of the original mission of Catholic education preference is also given to students who are new immigrants to the United States.            

Students are awarded a scholarship equal to 30% of their tuition, and are guaranteed this scholarship fortheir entire four years of high school provided they remain enrolled in their current high school; maintain their financial need, passing GPAs, and good conduct each year; and their families remains up to date on their portion of the tuition,

The Class of 2015 just completed their ninth grade year at 30 Catholic high schools throughout the Archdiocese.  On Thursday May 3, 2012 at a Mass at the Cathedral of the Holy Cross celebrated by Cardinal Cardinal Sean O’Malley, over 170 students in the Class of 2016 were welcomed as the new class of CSF Scholars.  This brings the total number of students in both classes to over 340.   

In speaking of her newest CSF Scholars, Mary Ellen Barnes, the Head of School at Fontbonne Academy in Milton said, “The CSF Scholars program has been a huge benefit to Fontbonne and these students.  Truly, without the funding from this program these young women would not have been able to enroll at our school.” 
Budget  $931,330.00
Category  Education, General/Other Elementary & Secondary Education
Population Served K-12 (5-19 years) Poor,Economically Disadvantaged,Indigent
Program Short-Term Success  100% of the Class of 2015 CSF Scholars will be accepted into college. 
Program Long-Term Success  The current 342 CSF Scholars will be tracked as they progress through their four years of high school.  The ultimate goal is that 100% of the students will enroll in a college or post-secondary program (i.e. military service) and successfully complete the program within a timely manner.  Ideally, 100% of these students will then be gainfully employed and out of the at-risk situation many are currently in.       
Program Success Monitored By  Currently tracking yearly grade point averages, test scores (High School Placement, PSA, etc.), and activities for each CSF Scholar.  
Examples of Program Success  We currently have data for one year and one class (Class of 2015) but the impact of the Catholic high school environment is already clear.  At one school,  the average GPA of the CSF Scholars is 2.55 despite the fact that almost 85% of the students scored at or below the 50th percentile on the High School Placement Test. This is a tribute to the learning environment and academic support system of the school.  

CEO/Executive Director/Board Comments

Tuition is the primary driver for Catholic schools and the economic downturn has put this incredible opportunity out of reach for many families.  Beyond increasing fundraising, we are looking to lever our resources in ways that gain efficiencies in the schools and help the take advantage of their own internal capacity.  Additionally, we must do a better job of tracking students one-to-one in order to best demonstrate outcomes to our donors while also building a pipeline of future funders. 


CEO/Executive Director Mr. Michael Reardon
CEO Term Start Nov 2006
CEO Email
CEO Experience Prior to joining the Catholic Schools Foundation, Mike Reardon was the Vice President for Institutional Advancement at Boston College High School.  As Vice President, he restructured the advancement program, increased annual giving by 60%, launched a $40,000,000 Capital campaign, rebranded organizational print and web collateral, and  institutionalized communication and planned giving efforts.  He began his career at Canisius High School in Buffalo, NY.  After Buffalo, Mike worked as a lecture agent in Washington, DC before making his way back to Boston.  He has his BA from Fairfield University.
Co-CEO --
Co-CEO Term Start --
Co-CEO Email --
Co-CEO Experience --

Former CEOs and Terms

Name Start End
-- -- --

Senior Staff

Name Title Experience/Biography
-- -- --


Award Awarding Organization Year
Foundaion of the Year ACAAP 2013


Affiliation Year
-- --
Member of state association of nonprofits? No
Name of state association --

External Assessments and Accreditations

External Assessment or Accreditation Year
-- --



CEO/Executive Director/Board Comments


Foundation Comments


Staff Information

Number of Full Time Staff 7
Number of Part Time Staff 0
Number of Volunteers 100
Number of Contract Staff 0
Staff Retention Rate % --

Staff Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 0
Caucasian: 8
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 1
Other (if specified): --
Gender Female: 7
Male: 1
Not Specified 0

Plans & Policies

Organization has Fundraising Plan? Yes
Organization has Strategic Plan? No
Years Strategic Plan Considers --
Management Succession Plan No
Business Continuity of Operations Plan No
Organization Policies And Procedures Yes
Nondiscrimination Policy Yes
Whistle Blower Policy Yes
Document Destruction Policy Yes
Directors and Officers Insurance Policy Yes
State Charitable Solicitations Permit --
State Registration --

Risk Management Provisions


Reporting and Evaluations

Management Reports to Board? Yes
CEO Formal Evaluation and Frequency Yes Annually
Senior Management Formal Evaluation and Frequency Yes Annually
Non Management Formal Evaluation and Frequency Yes Annually


Board Chair Most Reverend Sean Cardinal O'Malley
Board Chair Company Affiliation Roman Catholic Archdiocese of Boston
Board Chair Term July 2003 -
Board Co-Chair --
Board Co-Chair Company Affiliation --
Board Co-Chair Term -

Board Members

Name Company Affiliations Status
Mr. Paul J. Birmingham Realtor Voting
mr. Robert N. Cunjak Sankaty Advisors and Bain Capital Voting
Mr. R. J. Dourney Hearthstone Associates, LLC Voting
Mr. John R. Eriksen leadership Roundtable --
Mrs. Kathryn M. Everett The Lynch Foundation Voting
Mr. Brian J. Gallagher Deloitte Voting
Mr. Richard J. Henken Schochet Associates, Inc. Voting
Msgr. Francis H. Kelley Archdiocese of Boston Voting
Mr. Daniel K. Kingsbury Pioneer Investment Management USA Voting
Mrs. Christine T. Komola Staples Incorporated Voting
Mr. William J. LaPoint Halpern, Denny & Company Voting
Mr. Peter S. Lynch Fidelity Investments Voting
Mr. John P. McDonough T2 Biosystems Voting
Mr. James F. Mooney Jr. The Baupost Group LLC Voting
Mr. William S. Mosakowski Public Consulting Group Voting
Reverend Paul B. O'Brien Saint Patrick Parish Voting
Mr. Jack D. O'Connor O'Connor Studios Voting
Most Reverend Sean Cardinal O'Malley Archdiocese of Boston Voting
Mr. Steven R. Principe Morgan Stanley Voting
Mr. John J. Regan Esq WilmerHale Voting
Mr. John J. Remondi Fidelity Investments Voting
Mr. Michael F. Rogers State Street Corporation Voting
Mrs. Natalie Sanders Self employed Voting
Ms. Eileen C. Shapiro The Hillcrest Group Voting
Mr. Craig M. Tateronis Prince Lobel Tye LLP Voting

Constituent Board Members

Name Company Affiliations Status
-- -- --

Youth Board Members

Name Company Affiliations Status
-- -- --

Advisory Board Members

Name Company Affiliations Status
-- -- --

Board Demographics

Ethnicity African American/Black: 0
Asian American/Pacific Islander: 0
Caucasian: 24
Hispanic/Latino: 0
Native American/American Indian: 0
Other: 1
Other (if specified): 0
Gender Female: 4
Male: 21
Not Specified 0

Board Information

Board Term Lengths 3
Board Term Limits 9
Board Meeting Attendance % 71%
Written Board Selection Criteria Yes
Written Conflict Of Interest Policy Yes
Percentage of Monetary Contributions 100%
Percentage of In-Kind Contributions 10%
Constituency Includes Client Representation Yes

Standing Committees

  • --
  • Audit
  • By-laws
  • Development / Fund Development / Fund Raising / Grant Writing / Major Gifts
  • Finance
  • Investment
  • Nominating

CEO/Executive Director/Board Comments


Foundation Comments



Revenue vs. Expense ($000s)

Expense Breakdown 2013 (%)

Expense Breakdown 2012 (%)

Expense Breakdown 2011 (%)

Fiscal Year July 01, 2014 to June 30, 2015
Projected Income $8,000,000.00
Projected Expense $10,000,000.00
Form 990s

2013 990

2012 990

2011 990

2010 990

2009 990

Audit Documents

2013 Catholic Schools Foundation Audit

2012 Catholic school foundation Audit

2011 Catholic Schools Foundation Audit

2010 Catholic Schools Foundation Audit

2009 Catholic Schools Foundation Audit

IRS Letter of Exemption

IRS Letter of Determination

Prior Three Years Total Revenue and Expense Totals

Fiscal Year 2013 2012 2011
Total Revenue $10,964,916 $8,305,864 $18,217,023
Total Expenses $9,592,903 $9,621,272 $8,470,552

Prior Three Years Revenue Sources

Fiscal Year 2013 2012 2011
Foundation and
Corporation Contributions
-- -- --
Government Contributions $0 $0 $0
    Federal -- -- --
    State -- -- --
    Local -- -- --
    Unspecified $0 -- --
Individual Contributions $5,603,065 $8,301,049 $8,239,329
Indirect Public Support $0 -- --
Earned Revenue $0 -- --
Investment Income, Net of Losses $2,423,809 $4,815 $9,977,694
Membership Dues $0 -- --
Special Events $2,607,842 -- --
Revenue In-Kind -- -- --
Other $330,200 -- --

Prior Three Years Expense Allocations

Fiscal Year 2013 2012 2011
Program Expense $8,579,105 $8,586,017 $7,363,642
Administration Expense $598,033 $457,802 $448,321
Fundraising Expense $415,765 $577,453 $658,589
Payments to Affiliates -- -- --
Total Revenue/Total Expenses 1.14 0.86 2.15
Program Expense/Total Expenses 89% 89% 87%
Fundraising Expense/Contributed Revenue 5% 7% 8%

Prior Three Years Assets and Liabilities

Fiscal Year 2013 2012 2011
Total Assets $61,982,247 $57,168,800 $57,796,416
Current Assets $6,624,455 $4,253,785 $3,148,126
Long-Term Liabilities $0 $6,230,077 $5,606,616
Current Liabilities $6,695,963 $163,068 $98,737
Total Net Assets $55,286,284 $50,775,655 $52,091,063

Prior Three Years Top Three Funding Sources

Fiscal Year 2013 2012 2011
1st (Source and Amount) -- --
-- --
-- --
2nd (Source and Amount) -- --
-- --
-- --
3rd (Source and Amount) -- --
-- --
-- --

Financial Planning

Endowment Value $63,000,000.00
Spending Policy Percentage
Percentage(If selected) 4.0%
Credit Line No
Reserve Fund Yes
How many months does reserve cover? 12.00

Capital Campaign

Are you currently in a Capital Campaign? No
Capital Campaign Purpose --
Campaign Goal --
Capital Campaign Dates -
Capital Campaign Raised-to-Date Amount --
Capital Campaign Anticipated in Next 5 Years? No

Short Term Solvency

Fiscal Year 2013 2012 2011
Current Ratio: Current Assets/Current Liabilities 0.99 26.09 31.88

Long Term Solvency

Fiscal Year 2013 2012 2011
Long-term Liabilities/Total Assets 0% 11% 10%

CEO/Executive Director/Board Comments

CSF enjoys a strong financial position due to years of solid fiscal management and Board oversight.  The result was weathering FY09 with limited negative impact on students and families and still being able to maintain a strong balance sheet.  The challenge and opportunity in years to come will be to how best leverage the strength of the balance sheet to effect change.  

Foundation Comments

Financial summary data in charts and graphs are per the organization's audited financials for FY 2012 & FY2011 with data for FY 2013 from the form 990.  Contributions from foundations and corporations are listed under individuals when the breakout was not available.


Other Documents

No Other Documents currently available.


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