Financial Integrity

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finances

A Letter from Our Treasurer


Dear Caritas Sponsors and Friends:

I am happy to report the June 30, 2016 audit has been completed and our Auditors, Coleman and Williams, have issued an unqualified opinion on the financial stability and operational results of the organization for the year. In other words, they feel our financial information presented as of June 30, 2016 accurately reflects its financial position and operations for that year ended. I would like to highlight some of the results Caritas achieved during its June 30, 2016 fiscal year end, as well as in prior years. They are as follows:

  • 1. The organization is financially stable and is optimistic for the continued growth of its sponsorship program and opportunities.
  • 2. Program costs for the sponsorship program approximated 139% of collected sponsorship monies received for the year. In other words, for every dollar of sponsorship monies received $1.39 of costs related to the program were incurred. Sponsorship monies only pay for a portion of the costs associated with the sponsorship program at Caritas.
  • 3. The organization must pursue other donors to assist with the program cost shortages as well as for the management and administration costs for the organization.
  • 4. The organization maintains a strict fiscal responsibility of overseeing all expenditures and scrutinizes those costs for appropriateness and relevancy.
  • 5. The organization is strongly motivated to expand sponsorships throughout the world and carefully balances that desire with the availability of donor monies.
  • As a result of this strong desire to expand, the organization does incur occasional financial challenges at times. The organization is not afraid to execute tough fiscal actions when appropriate.
  • 6. The organization has been in existence for 15+ years. Since that time, substantial donor monies of approximately $700,000+ (primarily from Chris and Barbara Hoar and selected other donors) have been used to develop various processes and procedures to help create the unique, successful Caritas sponsorship model. It would be very difficult to replicate the processes and procedures elsewhere.
  • 7. The continuing financial support of the Caritas sponsors and donors are now needed more than ever. The number one priority is to continue to maintain the sponsorship of numerous children throughout the world. In addition, Caritas sponsor monies are necessary for the schools to effectively manage their own fiscal budgets as well as for Caritas to continue to aggressively pursue its international expansion of child sponsorships.
  • 8. Caritas has differentiated itself from other organizations by enhancing the development of a special relationship between sponsor (mom/dad) and a child that has led to a stronger faith for both parties as well as a greater charitable awareness for the sponsor and most importantly, an educated child more prepared to react to life’s opportunities and challenges.
joel-nettesheim
As a board member since the founding of Caritas for Children, Inc and its Treasurer for the same period of time, and most importantly a sponsor of seven children, I cannot imagine there is a more effective organization that would better care for my children. I am impressed by what has been accomplished at Caritas for the past 15+ years and very optimistic about the continued success the organization will create by touching more children throughout the world.

Regards,

Joel G. Nettesheim, CPA and Treasurer

P: 262-923-5150 | C: 414-719-6888

[email protected]

2016 Revenues and Expenses for Programs and Ministry Services

programs-ministry-services-financials-expenses

FAQs About CARITAS Programs

How much of my donation goes to Program Expenses?
Per the 2016 audited financial statement, the actual amount that represents is 74.94% of the total Program/Ministry Services. The 25.06% not covered by your sponsorship donations are raised by CARITAS.
How is that possible?
Per the 2016 audited financial statement, the total Cost for Programs and Services was $537,163. The combined Income from Sponsor Families was $402,548. The needed Revenue needed to pay for the under-sponsored Income, $134,615 was provided by General Fundraising Income.
What services does my child receive from my support?
For Day School Students: Click here
For Boarding School Students: Click here
How do I know my child is receiving all the services I expect them to receive?
The program of sponsorship via CARITAS is a very special one from most other programs.

“Love—caritas—will always prove necessary, even in the most just society. This love does not simply offer people material help, but refreshment and care for their souls, something which often is even more necessary than material support.” (Pope Benedict XVI)

To help make this possible, CARITAS begins with this kind of relationship development by individually connecting each Caritas-Child with their Caritas-Family through child letters and school reports at least two times per year, and updated photos as often as possible. Even Skype opportunities are made possible. These exchanges are being made electronically via the Internet, where available, and in other locations by traditionally mailed forms—providing a means to confirm that your Caritas-Child is receiving all of the promised services.

What are Assistive/Supporting Programs?
In 2016, CARITAS provided a total $48,190 of its Total Program Services toward these benefits, from funds generously donated by individuals, corporations and special support for community-based child support. The total amount of money received from donations to help cover those services in 2016 was: $15,700.
How does CARITAS provide services?
CARITAS For Children’s programs are carried out under the direction of the Department of Catholic Education within each diocese where they exist. As a Catholic lay apostolate, CARITAS works with its ministry supporters on the ground in each of its locations, to establish and develop its programs throughout the world. This relationship enables each program to operate under the direction with its ministry supporters, who understand the local languages, cultures, and needs specific to each location.
For other FAQs on CARITAS, please visit here.

View the 2015 Financials here.


It’s not just an exchange of money.
It’s about building sacred relationships of God’s love around the planet.

Our Mission Goals

We engage servant leadership in our principal mission and vital ministry to achieve focused outcomes. We recruit, form and engage young adult volunteers. We establish strategic partnerships with local Catholic Church ministries, including: parishes, schools, hospitals, special care centers for handicapped of all kinds of disabilities, and all distinctly Catholic; to deliver needed resources to the children we serve. In trust with our local ministry partners and Caritas-Personnel, we form the minds and hearts of these children in Catholic education, doctrine, and the truth of Christ. We evangelize faith communities to inspire greater commitment, service and discipleship.

What Distinguishes Us

Our character and culture is distinct from other organizations with related missions. We are intrinsically Catholic in our identity, brand, doctrine, values and policies across the culture of our internal and external mission. We center our efforts on The New Evangelization as a tool of formation for those who engage in our work and ministry. We build continuing relationships that form community for those who partner in our mission. We employ ongoing messaging to our supporters to grow their spirituality and capacity for prayer and formation as disciples in Christ.

The Structure of our Ecclesial Governance

Under the Cannon Laws of the Roman Catholic Church, CARITAS For Children, Inc. is recognized as having a Private Juridic Personality. This status was granted by His Eminence, Francis Cardinal George, Archbishop of the Archdiocese of Chicago [Illinois] in October of 2008. CARITAS has been recognized as a religious society engaged in missionary work and is also listed in the Official Catholic Directory of the U.S. Catholic Conference of Bishops, since 2002. Its direct ecclesial connection in the Archdiocese of Chicago. In addition, CARITAS For Children is listed in the Pastoral Handbook of the Archdiocese of Milwaukee.


Our financial statements are audited in accordance with generally accepted auditing standards (U.S.) (Coleman & Williams, LTD)
/s/ William B. Coleman, C.P.A.

View the 2016 Audited Financial Statement here.
The 2016 990 Tax Return has been filed but not yet released by the IRS.

CARITAS For Children is a registered 501(c)(3) non-profit organization, Federal Tax ID # 39-1975608

For more information on CARITAS For Children financials or accreditations, please contact us.


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