Financial Report as of June 30, 2014
The Catholic Foundation of Rhode Island realized a net surplus for the year ended June 30, 2014 of $11,820,819 as compared to $6,060,759 for June 30, 2013. The increase in net surplus of approximately $5 million is a direct result of Unrealized Gains of $6.4 million for fiscal year 2014 as compared to an Unrealized Gain of $4.2 million in F/Y 2013.
In addition the Foundation had Realized gains of $3.5 million for F/Y 2014 as compared to $1.4 million in 2013. We also had approximately $1 million of additional gifts into the foundation above the previous year's $1.1 million.
Total Assets as of June 30, 2014 are $87,777,245 as compared to $76,115,675 for June 30, 2013. Approximately $3.5 million of income was distributed in F/Y 2104 compared to $2.9 million in the prior fiscal year. These distributions follow the Foundation’s spending policy allows for distributions of 4.5% of the last 3-year average market value of each individual portfolio.
Total investment return for the foundation was a positive 14% for Fiscal Year 2014 as compared to 8% for Fiscal Year 2013. Our investment managers continue to outperform their benchmarks.
Our Fiscal Year runs from July 1 – June 30.
First Quarter –
Second Quarter –