Catholic Charities USA Fails To Disclose Its Financials
The charity had income of $39M in 2023-24 of which $5M came from federal government.
Catholic Charities USA has released its 2024 annual report, which offers an overview of the organization’s work but offers no summary of its finances.
Previous annual reports offered an overview of Catholic Charities USA’s finances: the 2022 annual report discussed national office financials on p. 20, as did the 2021 annual report on p. 21. (The 2023 annual report is not readily available on the organization’s website.)
According to its 2023-24 audited financial statements, published by ProPublica, Catholic Charities USA and its affiliates had
$91,180,574 in assets on June 30, 2024—up from $88,498,913 on June 30, 2023
$9,946,269 in liabilities on June 30, 2024—up from $7,488,208 on June 30, 2023
$81,234,305 in net assets on June 30, 2024—up from $81,010,705 on June 30, 2023
total operating revenue of $39,289,439 in 2023-24, $5,376,421 of which came from federal grants
total operating expenses of $44,241,887 in 2023-24, for an operating deficit of $4,952,448
net investment return of $5,176,048 in 2023-24, which allowed for an increase in assets despite the operating deficit