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National Religious Retirement Office National Religious Retirement Office 2015 Annual Report Supplement From the Interim Executive Director Funding Status Dear Friends, In 2015, 550 religious communities provided data to the National Religious Retirement Office (NRRO) regarding their assets We are pleased to share this supplement to the National Religious Retirement Office available for retirement. From this information, the NRRO calculated the extent to which a community is adequately funded 2015 Annual Report. The following pages provide detailed information on the 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. financial support made possible by the Retirement Fund for Religious collection, including a state-by-state listing of religious communities that received funding. Retirement Funding Status and Membership of 550 Participating Religious Institutes Highlights from 2015, as well as information on contributions and a fiscal review, can be found in the annual report itself, which is available at www.retiredreligious.org.* Amount Number of Institutes Total Members Funded* Women’s Men’s Total The bulk of the collection proceeds are distributed in the form of Direct Care 0–20% 168 33 201 20,916 Assistance. Religious communities combine these funds with their own income and 21–40% 37 12 49 savings to help meet a host of retirement and eldercare needs. Our Planning and 6,696 Implementation Assistance program offers comprehensive financial and consultative 41–60% 48 11 59 support for communities with critical deficits in retirement funding. And various 6,674 forms of educational assistance help religious congregations enhance the quality of 61–80% 43 20 63 life for senior members while planning more effectively for the future. 4,020 81–99% 91 42 133 As the chart to the left illustrates, many congregations have made substantial progress 6,304 in stabilizing retirement savings and are well on the way to managing long-term Adequately 33 12 45 1,944 retirement needs. However, the largest single grouping is represented by those Total 420 130 550 46,554 that have 20 percent or less of the financial resources necessary to adequately fund retirement. Clearly, there is work to be done, and we give thanks daily for all those *The percentage of retirement funded is based Each symbol represents 500 religious. whose prayers and generosity sustain our mission. on designated assets as of December 31, 2015, Women Men which were reported to the NRRO for the 2016 funding cycle. God bless, Sister Susan Schorsten, HM Interim Executive Director * Hard copies of the annual report and/or supplement can be requested through our office. Please see the inside back Cover photo: (foreground) Sister Rita Polchin, SSCM, 87; cover for contact information. (background) visit www.retiredreligious.org/2016photos for a list of names. National Religious Retirement Office 2015 Annual Report Supplement 1 Fund Distributions Fund Distributions Distributions History Direct Care Assistance Since 1988, over $745 million has been disbursed to religious institutes The 2015 collection for the Retirement Fund for Religious enabled the distribution of $25 million in Direct Care Assistance through Basic Grants/Direct Care Assistance and other forms of distribution to to 401 religious institutes. These funds support the immediate care of elder religious and help religious institutes bolster support the care of senior members. 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. Women’s Institutes Men’s Institutes State City Institute Number of Percentage of Distribution Collection Year Number Distributions Number Distributions Members Retirement Amount Not Funded Direct Care Assistance* Year 1, 1988 383 $20,625,519.87 83 $1,784,726.98 (weighted average) Year 2, 1989 466 17,185,779.40 124 2,136,613.57 Alabama Cullman Benedictine Sisters 41 28.43 $29,232.16 Year 3, 1990 483 22,803,714.49 137 2,982,399.54 Benedictine Society of Alabama 34 88.17 17,747.76 Year 4, 1991 457 18,094,155.69 138 2,605,844.31 Arizona Nogales Minim Daughters of Mary Immaculate 18 86.68 27,338.95 Year 5, 1992 481 18,886,678.04 138 2,798,149.96 Phoenix Canons Regular of the Order of the Holy Cross 48 21.24 30,036.49 Year 6, 1993 503 20,037,614.71 144 2,990,316.40 Sonoita Santa Rita Abbey 10 61.55 10,833.02 Year 7, 1994 507 21,271,190.33 147 3,121,678.22 St. David Benedictine Monks 4 98.71 1,580.14 Year 8, 1995 493 20,499,187.78 143 3,000,812.22 Tucson Sisters of the Immaculate Heart of Mary 16 94.06 32,922.05 Arkansas Jonesboro Olivetan Benedictine Sisters 39 23.49 24,014.71 Year 9, 1996 392 21,525,978.57 112 2,858,470.50 Little Rock Discalced Carmelite Nuns 15 68.10 13,786.25 Year 10, 1997 405 22,723,003.53 119 3,280,539.30 Subiaco Benedictines of Subiaco Abbey 41 81.89 40,661.77 Year 11, 1998 388 24,103,504.85 110 3,121,495.43 California Alhambra Carmel of St. Teresa 14 99.64 15,833.88 Year 12, 1999 386 21,868,188.81 110 3,165,740.38 Carmelite Sisters of the Most Sacred Heart 124 96.75 111,209.05 Year 13, 2000 395 24,013,767.90 101 3,486,232.12 Aptos Order of St. Clare 7 81.37 12,198.94 Year 14, 2001 426 23,797,328.81 112 3,202,671.23 Arroyo Grande Conventual Franciscans 45 91.58 21,861.91 Year 15, 2002 446 20,257,492.92 116 2,742,507.13 Belmont Sisters of Notre Dame de Namur 110 58.68 131,538.89 Year 16, 2003 424 17,341,105.87 119 2,590,623.98 Big Sur Camaldolese Monks, Order of St. Benedict 14 84.13 12,613.93 Year 17, 2004 415 17,927,455.66 112 2,760,666.07 Bonita Sister Servants of the Blessed Sacrament 49 86.16 42,693.92 Year 18, 2005 418 20,149,699.31 111 2,957,975.39 Burlingame Capuchin Franciscan Order 47 61.54 33,312.68 Year 19, 2006 402 19,925,324.16 113 3,074,675.82 Culver City Religious Sisters of Charity 29 2.62 14,123.22 Year 20, 2007 369 19,591,006.55 113 3,408,993.58 Downey Sisters of the Holy Faith 20 23.71 14,400.14 Encino Sisters of Social Service 69 78.05 91,783.02 Year 21, 2008 366 19,557,852.08 119 3,463,505.60 Garden Grove Poor Clare Missionary Sisters 43 99.83 21,613.14 Year 22, 2009 363 19,357,292.13 114 3,683,135.27 Gardena Lovers of the Holy Cross of Los Angeles 64 67.66 19,298.67 Year 23, 2010 356 19,062,928.87 113 3,937,071.14 Los Angeles Franciscan Brothers 7 71.24 8,404.79 Year 24, 2011 341 18,809,588.72 112 4,190,411.33 Immaculate Heart Community 88 71.39 160,661.14 Year 25, 2012 331 18,879,780.20 109 4,130,803.60 Missionaries Guadalupanas of the Holy Spirit 45 74.81 39,729.53 Year 26, 2013 320 18,728,866.18 104 4,271,133.92 Monastery of the Angels 17 56.94 16,890.84 Year 27, 2014 293 19,743,487.35 102 5,311,189.22 Los Banos Franciscan Hospitaller Sisters 17 87.25 26,604.83 Year 28, 2015 295 19,303,664.94 106 5,696,335.08 Millbrae Holy Ghost Fathers of Ireland 52 99.39 102,746.93 Subtotal — 566,091,157.72 — 92,754,717.29 Modesto Sisters of the Cross of the Sacred Heart of Jesus 9 95.08 4,824.90 Northridge Sisters of the Pious Schools 25 92.46 15,083.64 Other Assistance 72,318,007.68 14,533,526.72 Society Devoted to the Sacred Heart 45 45.36 16,799.09 Oakland Franciscan Friars 169 81.15 185,346.07 Total — $638,409,165.40 — $107,288,244.01 Oceanside Prince of Peace Abbey 22 84.48 19,598.03 Rancho Palos Verdes Daughters of Mary and Joseph 38 33.31 42,622.03 Total Assistance Awarded $745,697,409.41 *Basic Grants, collection years 1–20. 2 National Religious Retirement Office 2015 Annual Report Supplement Retirement Fund for Religious 2015 Annual Report Supplement 3 Fund Distributions Fund Distributions Direct Care Assistance, continued Direct Care Assistance, continued State City Institute Number of Percentage of Distribution State City Institute Number of Percentage of Distribution Members Retirement Amount Members Retirement Amount Not Funded Not Funded (weighted average) (weighted average) California, Redlands Discalced Carmelite Friars 39 94.97 $24,694.48 Georgia Conyers Monastery of the Holy Spirit 35 97.57 $41,620.81 continued Oblatas de Santa Marta 31 98.87 37,232.35 Savannah Carmelite Monastery 3,245.66 Riverside Society of the Divine Word 62 81.78 35,728.19 Hawaii Kaneohe Carmelite Monastery 5,283.49 San Diego Carmelite Monastery of San Diego 14 79.80 17,959.13 Idaho Cottonwood Benedictine Sisters 44 52.10 48,108.16 San Francisco Salesian Society of Don Bosco 76 27.11 44,308.10 Jerome Monastery of the Ascension 12 41.93 9,848.62 Verbum Dei Missionary Fraternity 26 98.87 1,779.87 Illinois Alton Sisters of St.
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