March 23, 2017
Milwaukee, Wis. – Catholic Financial Life announced it experienced another year of record-breaking results. In 2016, net income rose to $11.6 million compared to $9.6 million in 2015. Also, the organization’s total adjusted capital increased more than 20 percent from the prior year to $79.9 million – the highest level in Catholic Financial Life’s history.
“Our focus on expense management and operational efficiencies resulted in excellent financial results despite the continued low interest rate environment,” shared Jeff Tilley, CFO.
In addition to strong financial success, the not-for-profit membership organization’s volunteers donated more than 85,000 hours of service and over $1.8 million in direct support to charitable organizations.
“When Catholic Financial Life does well, we give back even more to the causes meaningful to our members,” said President and CEO, Bill O’Toole. Recipients of significant leadership gifts from Catholic Financial Life in 2016 included: Seton Catholic Schools, Messmer Catholic Schools, St. Anthony Catholic School, Catholic Memorial High School, Waukesha Catholic, Soles for Catholic Education Walk, United Community Center, the National Society of St. Vincent de Paul and Habitat for Humanity.
In response to these record financial results, Catholic Financial Life is launching a contest to give back in a new way. Catholic schools across the country are invited to submit a 2-3 minute video showcasing “How your school makes a difference in the community and why that is important.” Catholic Financial Life will announce the top five video submissions on May 15, 2017, and the public will then choose the top three winners by popular vote who will each receive cash prizes of $5,000, $3,500 and $2,500!
To learn more about this contest, visit: join.catholicfinanciallife.org/giveback