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National Religious Retirement Office National Religious Retirement Office 2016 Annual Report Supplement Funding Status In 2016, 539 religious communities provided data to the National Religious Retirement Office (NRRO) regarding their assets available for retirement. From this information, the NRRO calculated the extent to which a community is adequately funded for retirement. Shown below are the number of religious institutes at each level of funding and the total number of women and men religious represented by these institutes. Retirement Funding Status and Membership of 539 Participating Religious Institutes Amount Number of Institutes Total Members Funded* Women’s Men’s Total 0–20% 159 36 195 21,046 21–40% 40 10 50 6,179 41–60% 41 12 53 5,693 61–80% 31 24 55 3,503 81–99% 106 39 145 6,438 Adequately 28 13 41 2,012 Total 405 134 539 44,871 *The percentage of retirement funded is based Each symbol represents 500 religious. on designated assets as of December 31, 2016. Women Men Cover photo (from left): Sister Alfonsina Sanchez and care coordinator Sister Michelle Clines, RN, members of the Carmelite Sisters of the Most Sacred Heart of Los Angeles. From the Executive Director Dear Friends, I am pleased to share this supplement to the National Religious Retirement Office 2016 Annual Report. The following pages detail the far-reaching impact of donations to the Retirement Fund for Religious (RFR) collection. (Information regarding contributions to the collection and a fiscal review can be found in the annual report itself, which is available at retiredreligious.org.*) Religious communities combine RFR funding with their own income and savings to meet the current and future needs of senior members. They also utilize the educational and consultative resources the collection makes possible to stretch retirement dollars and enhance eldercare. This assistance has helped numerous congregations transform their retirement-funding deficits into manageable concerns. Yet, as the chart to the left demonstrates, a significant number still have profound needs. Your support allows us to continue the mission to assure all elderly religious a safe, modest retirement. What is perhaps hidden in these pages is how helping religious communities address their retirement funding challenges also helps them continue to focus on mission and ministry. In the end, religious communities have the same goal: to provide loving care for elder members while ensuring the works of these selfless women and men can be carried forth. For the countless ways your prayers and generosity advance this goal, we offer heartfelt thanks. With gratitude, Sister Stephanie Still, PBVM Executive Director * Hard copies of the annual report and/or supplement can be requested through our office. Please see the inside back cover for contact information. National Religious Retirement Office 2016 Annual Report Supplement 1 Fund Distributions Distributions History Since 1988, more than $775 million has been disbursed to religious institutes through Basic Grants/Direct Care Assistance and other forms of distribution to support the care of senior members. Women’s Institutes Men’s Institutes Collection Year Number Distributions Number Distributions Direct Care Assistance* Year 1, 1988 383 $20,625,519.87 83 $1,784,726.98 Year 2, 1989 466 17,185,779.40 124 2,136,613.57 Year 3, 1990 483 22,803,714.49 137 2,982,399.54 Year 4, 1991 457 18,094,155.69 138 2,605,844.31 Year 5, 1992 481 18,886,678.04 138 2,798,149.96 Year 6, 1993 503 20,037,614.71 144 2,990,316.40 Year 7, 1994 507 21,271,190.33 147 3,121,678.22 Year 8, 1995 493 20,499,187.78 143 3,000,812.22 Year 9, 1996 392 21,525,978.57 112 2,858,470.50 Year 10, 1997 405 22,723,003.53 119 3,280,539.30 Year 11, 1998 388 24,103,504.85 110 3,121,495.43 Year 12, 1999 386 21,868,188.81 110 3,165,740.38 Year 13, 2000 395 24,013,767.90 101 3,486,232.12 Year 14, 2001 426 23,797,328.81 112 3,202,671.23 Year 15, 2002 446 20,257,492.92 116 2,742,507.13 Year 16, 2003 424 17,341,105.87 119 2,590,623.98 Year 17, 2004 415 17,927,455.66 112 2,760,666.07 Year 18, 2005 418 20,149,699.31 111 2,957,975.39 Year 19, 2006 402 19,925,324.16 113 3,074,675.82 Year 20, 2007 369 19,591,006.55 113 3,408,993.58 Year 21, 2008 366 19,557,852.08 119 3,463,505.60 Year 22, 2009 363 19,357,292.13 114 3,683,135.27 Year 23, 2010 356 19,062,928.87 113 3,937,071.14 Year 24, 2011 341 18,809,588.72 112 4,190,411.33 Year 25, 2012 331 18,879,780.20 109 4,130,803.60 Year 26, 2013 320 18,728,866.18 104 4,271,133.92 Year 27, 2014 293 19,743,487.35 102 5,311,189.22 Year 28, 2015 295 19,303,664.94 106 5,696,335.08 Year 29, 2016 281 19,240,258.57 109 5,759,741.49 Subtotal — 585,331,416.29 — 98,514,458.78 Other Assistance 76,462,832.09 14,874,964.54 Total — $661,794,248.38 — $113,389,423.32 Total Assistance Awarded $775,183,671.70 *Basic Grants, collection years 1–20. 2 National Religious Retirement Office 2016 Annual Report Supplement Fund Distributions Direct Care Assistance The 2016 collection for the Retirement Fund for Religious enabled the distribution of $25 million in Direct Care Assistance to 390 religious institutes. These funds support the immediate care of elder religious and help religious institutes bolster retirement savings. Direct Care Assistance is a per capita distribution based on specified criteria, including the percentage of retirement not funded, as measured by the national weighted average cost of care calculated by the National Religious Retirement Office, and the number of members age 60 and over. State City Institute Number of Percentage of Distribution Members Retirement Amount Not Funded (weighted average) Alabama Cullman Benedictine Sisters 38 32.94 $28,652.67 Benedictine Society of Alabama 33 85.98 17,709.39 Arizona Nogales Minim Daughters of Mary Immaculate 13 81.43 19,839.67 Phoenix Canons Regular of the Order of the Holy Cross 47 6.98 21,618.09 Sonoita Santa Rita Abbey 11 60.82 11,869.34 St. David Benedictine Monks 4 98.69 2,240.14 Tucson Sisters of the Immaculate Heart of Mary 16 93.73 32,884.70 Arkansas Jonesboro Olivetan Benedictine Sisters 37 13.71 18,690.18 Little Rock Discalced Carmelite Nuns 15 72.84 15,194.56 Subiaco Benedictines of Subiaco Abbey 40 82.58 39,080.83 California Alhambra Carmel of St. Teresa 13 98.81 12,589.45 Carmelite Sisters of the Most Sacred Heart 124 91.77 113,396.97 Aptos Order of St. Clare 5 79.99 7,554.92 Belmont Sisters of Notre Dame de Namur 93 43.87 117,327.27 Big Sur Camaldolese Monks, Order of St. Benedict 14 87.90 14,143.55 Bonita Sister Servants of the Blessed Sacrament 47 83.78 37,759.40 Burlingame Capuchin Franciscan Order 44 60.95 29,228.32 Castro Valley Conventual Franciscans 45 91.81 22,678.56 Culver City Religious Sisters of Charity 29 3.78 14,763.88 Encino Sisters of Social Service 69 78.61 92,546.73 Garden Grove Poor Clare Missionary Sisters 42 99.83 24,468.10 Gardena Lovers of the Holy Cross of Los Angeles 64 62.24 15,423.76 Los Angeles Franciscan Brothers 8 76.00 10,599.13 Immaculate Heart Community 82 66.45 143,401.64 Missionaries Guadalupanas of the Holy Spirit 44 85.02 49,686.63 Monastery of the Angels 18 60.64 21,596.77 Los Banos Franciscan Hospitaller Sisters 17 85.11 21,868.67 Millbrae Holy Ghost Fathers of Ireland 50 93.61 87,783.89 Northridge Sisters of the Pious Schools 22 93.13 9,875.99 Society Devoted to the Sacred Heart 44 44.40 17,828.93 Oakland Franciscan Friars 161 80.68 188,709.28 Oceanside Prince of Peace Abbey 22 86.84 21,861.71 Rancho Palos Verdes Daughters of Mary and Joseph 37 26.06 41,672.94 National Religious Retirement Office 2016 Annual Report Supplement 3 Fund Distributions Direct Care Assistance, continued State City Institute Number of Percentage of Distribution Members Retirement Amount Not Funded (weighted average) California, Redlands Discalced Carmelite Friars 39 96.13 $26,801.90 continued Oblatas de Santa Marta 31 99.03 39,091.61 Riverside Society of the Divine Word 61 81.33 35,471.47 San Diego Carmelite Monastery of San Diego 14 80.26 16,666.47 San Francisco Salesian Society of Don Bosco 75 28.03 45,271.48 Verbum Dei Missionary Fraternity 26 98.39 1,578.72 Solana Beach The Eudists—Congregation of Jesus and Mary 13 86.00 8,584.76 Thousand Oaks Sisters of Notre Dame 54 56.34 51,527.08 Tustin Sisters of the Company of Mary 42,073.41 Valyermo Benedictine Monks 19 86.65 13,731.64 Vina New Clairvaux Abbey 22 90.03 25,252.74 Whitethorn Redwoods Monastery 10 83.15 9,705.38 Colorado Colorado Springs Benet Hill Monastery 33 51.63 46,688.92 Denver Capuchin Franciscans 64 76.72 49,875.75 Capuchin Poor Clares 7 96.76 3,116.96 Redemptorists 173 42.15 122,778.04 Snowmass St.
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