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2018 Annual Report ARCHDIOCESE of BOSTON

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2018 Annual Report ARCHDIOCESE of BOSTON 2018 Annual Report ARCHDIOCESE OF BOSTON 1 1 The Catholic Community Fund enables individuals to create charitable endowment funds or make other planned gifts that provide permanent support for Catholic parishes, Catholic schools, Catholic social services, and other Catholic faith ministries to help them meet current and future needs. In doing so, the Fund strengthens and preserves the Catholic faith in the 144 communities in Eastern Massachusetts that make up the Roman Catholic Archdiocese of Boston. It is the foundation serving Greater Boston’s Catholic community. Cover photo: Ordination of Priesthood, Immaculate Conception Church, Lowell A Message from Cardinal Seán Dear Friends in Christ, Please accept my sincere gratitude for your generosity toward the Catholic Community Fund. With your long-term gift, you make an investment that preserves and strengthens the future of our Church in Boston. In these difficult times for our Church, your support builds a legacy of love for the ministries that personify our mission, and I am most grateful for your continued commitment. Through planned gifts and endowments, you help provide direct, longstanding financial assistance to our parishes, schools, Catholic Charities, and many vibrant ministries. The Catholic Community Fund allows donors to support many life-changing programs that provide resources like scholarship support, adult learning opportunities, shelter and counseling for those in need. This report is a testament to the faithful stewards like you, whose commitment to our mission brings Christ’s loving grace to all who seek Him. I am deeply appreciative of your contribution to the Catholic Community Fund, which sustains and elevates our Archdiocese and parish communities. Because of you, we can uphold our beloved Church for future generations of Catholics. Please be assured of my continued prayers and gratitude for your sacrifices made on behalf of our Archdiocese. May we continue to strengthen the work of God in our Church as we bring the mission of Christ to all who seek Him. Gratefully yours in Christ, Archbishop of Boston 1 2 Table of Contents Catholic Community Fund 4 Ways of Giving 13 Catholic Legacy Society 14 Endowment Beneficiaries 17 Endowment Funds 18 Bequests and Planned Gifts 29 Catholic Health Foundaton 33 Catholic Health Foundation 2018 Grants 38 Combined Statement of Activities 42 Combined Statement of Financial Position 43 Board of Trustees 45 Photo: (L) Saint John Paul II Shrine of Divine Mercy, Salem 3 Catholic Community Fund Total$53.4M market value of CCF endowments as of 6/30/18 Total$2.0M distributions from CCF endowments in the fiscal year ended 6/30/18 Investment8.2% performance for the fiscal year ending 6/30/18 compared to the benchmark of 8.0% Total amount$3.2M of 281 grants made in the five years since the Catholic What the Catholic Community Fund Supports Health Foundation was established The Catholic Community Fund enables individuals, families, businesses and organizations to establish permanent charitable funds that help Catholic parishes, schools, social services, and $8.4M other faith ministries meet long-term and future needs. Amount received by parishes from the $9.3M in bequests received by Contributing to the Catholic Community Fund allows donors to support wide-ranging programs the Church of Boston in FY 2018 that meet the needs of individuals and families in all walks of life. Our endowments provide scholarships for young students, English language learning opportunities for adults, shelter for the homeless, and counseling for those struggling with addiction, among many other initiatives. 75-90% In addition, your gift also strengthens our local Catholic communities. Percentage traditionally received by parishes from bequests made Our funds are dedicated to supporting lifelong faith formation, parish and Archdiocesan-based to the Church of Boston ministries, Catholic schools, clergy and Catholic social services, to help us carry out the mission of the Church. The following pages explain in detail these investments in our faith. Photo: Saint John School, Wellesley 5 RCAB Investment Committee Catholic Community Fund endowments are managed through the Roman Catholic Archdiocese of Boston’s (RCAB) Common Investment Fund, which is overseen by the RCAB Investment Committee. The Investment Committee meets regularly and reviews investment policies, capital market environment, strategic and tactical asset allocations, investment performance, current and prospective investment managers, investor needs, and cash flow requirements. ROBERT J. MORRISSEY, ESQ., CHAIR Partner, Morrissey, Hawkins & Lynch CHARLES I. CLOUGH, JR. Chairman & CEO, Clough Global STEPHEN M. DUFOUR Portfolio Manager, Fidelity Investments Socially Responsible Investing MICHELLE A. KNIGHT Chief Investment Officer and Chief Economist Investments made through the Catholic Community Fund not only support Ropes Wealth Advisors, LLC our vibrant Catholic ministries throughout the Archdiocese of Boston, but JAMES J. MAHONEY, JR. are also managed in accordance with Catholic social teachings as defined Principal, Mahoney Investments by the U.S. Conference of Catholic Bishops. THOMAS C. STAKEM, JR. Our funds are dedicated to important ministries that align with the mission of Vice-President & Director of Research, Woodstock Corp. our Catholic Church. We seek to provide the best possible returns while managing FREDERICK WEISS risk through appropriate allocation of funds among various investments. Managing Member, MPC Capital Advisors, LLC We support initiatives like: JOHN E. STRAUB n Chancellor, Archdiocese of Boston Professional development programs for Catholic school teachers and principals n Learning opportunities for immigrants and MAUREEN CREEDON, CPA Director of Finance, Archdiocese of Boston n Health and wellness resources for the homebound and elderly and those affected by substance abuse. Photo: Saint Mary Parish, Waltham 6 A Legacy of Learning: Mary Kennedy Scholarship “This scholarship allowed students who were at risk of withdrawing from our school to remain at Saint John Paul II Catholic Academy.” -Kate Brandley, M.Ed. Regional Director Saint John Paul II Catholic Academy At Saint John Paul II Catholic Academy (SJPIICA) in Dorchester, where 68% of families apply for financial aid, tuition can stand in the way of students receiving a high-quality, faith-based education. Thanks to caring donors like the late Mary M. Kennedy, who generously remembered SJPIICA in her will, more students can be offered the chance for a great education. As a child, Mary attended the former St. Ann’s School, which is now the SJPIICA Neponset Campus. The funding from her endowment supports the Mary M. Kennedy Scholarship for Neponset area students in need of financial aid. Recipients of the scholarship must demonstrate growth and perseverance in both academic and non-academic endeavors. They also must have a love of faith, family, and heritage, qualities Mary held dear. Mary and her family have ensured her love of education lives on through the bright futures of these students. Photo: Scholarship recipients with members of the Kennedy family 7 A Lifeline for Senior Priests “These priests make me feel like what I’m doing is very meaningful. I can help in many ways to make them less anxious, to make them laugh, to let them know there’s someone they can call.” -Mary Hanlon, RN, BSN Healthcare Coordinator Clergy Health and Retirement Trust For aging priests, growing older can mean growing in isolation. While some priests have a large family base, many face their senior years without anyone to consult for major life decisions. This is where the Clergy Health and Retirement Trust (CHRT) and their Senior Priest Outreach Program comes in. Nurse Mary Hanlon visits each senior Boston priest ages 75 and above at least once a year. As a friendly face and resource for priests who may not have alternative support systems, Mary assesses their living conditions and ensures the environment is safe with adequate food, heat and electricity. If she encounters any issues in the living space, she contacts the appropriate agencies to provide necessary services. Working in tandem with CHRT Senior Care Manager Amy Nash, Mary reviews priest medical needs, connects them to community resources and healthcare proxies, and follows up on any medical concerns. While Mary and the CHRT team provide a variety of essential resources to senior and active Boston priests, their main objective is for priests to live out their vocations safely. In the process of their annual check-ins, caretakers like Mary and Amy develop a close bond with priests, adding a special element of care and concern. “You form a friendship and care about them like you would a family member,” Mary said. Photo: Mary Hanlon on a home visit with a priest 8 Investing in Parishes “This fund helps us build the future of our parish. Not only are donations held in perpetuity, but so, too, are the memorials established in memory of loved ones.” -Theresa Conway Vice President Sacred Heart Parish Finance Council By establishing a parish endowment through the Catholic Community Fund, Sacred Heart Parish, Manchester-by-the-Sea, is helping ensure their beloved church thrives for years to come. The Sacred Heart Memorial Endowment Fund, originally spearheaded by Theresa Conway, Vice President of the Sacred Heart Parish Finance Council, gained traction when the council was connected to the Catholic Community Fund. The fund assists in supporting current operating expenses and
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