Catholic Charities of Buffalo, NY reports financial activities within combined financial statements including itself and affiliated entities. All revenue and expenses for program operations and administration of the organization are reported as operating activities. Non-operating activities primarily include contributions, bequests and investment income.
Monsignor Carr Institute, Inc., an affiliated entity of Catholic Charities of Buffalo, NY is included in the reported combined financial statement.
The affiliated entities share various administrative costs which allow us to maximize program spending. For the years ended 6/30/10 and 6/30/11, administrative costs for the combined entities were 12.7% and 13.1%, respectively. Fundraising costs are minimized by volunteer efforts and were 3.9% and 3.2% for the years ended 6/30/10 and 6/30/11, respectively.
Although separate Federal Form 990 Information Returns are filed with the Internal Revenue Service for Catholic Charities of Buffalo, NY and Monsignor Carr Institute, Inc. We believe the combined financial statements more accurately reflect the Catholic Charities of Buffalo, NY organization as a whole.