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2017 Report to Donors 2017 Report to Donors ARCHDIOCESE OF BOSTON A 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: Saint Patrick Church in Lowell. A Message from Cardinal Seán Dear Friends in Christ, With your support of the Catholic Community Fund, you preserve and strengthen the foundation of our Catholic faith within the communities of the Archdiocese of Boston. Through planned gifts and endowments, you are investing in a thriving future for our Catholic Church, its ministries, and people. Your generosity builds a legacy of love for programs and ministries that will enrich lives for generations to come. This report is a testament to the faithful stewards whose commitment to the Catholic Church brings Christ’s loving and gracious mission to all who seek Him. Your thoughtful support provides direct, longstanding financial assistance to our parishes, schools, Catholic Charities, seminaries, and many central ministries. I am deeply appreciative of your contribution to our mission, which sustains and elevates our Archdiocese, and supports the long-term vibrancy of our parish communities. Because of you, we can continue to uphold and foster our beloved Church for future generations of Catholics. Please be assured of my continued prayers and gratitude for the sacrifices made on behalf of our Church. May our lives and actions continue to strengthen the work of God in our Archdiocese as we bring the joy and hope of Christ to all who seek His friendship. Gratefully yours in Christ, Archbishop of Boston 2017 Ordination at Saint Patrick Church in Lowell. 4 Table of Contents Board of Trustees 2 Socially Responsible Investing 3 Catholic Community Fund Support 4 Ways of Giving to the Catholic Community Fund 11 Catholic Legacy Society 12-13 Endowment Beneficiaries 14 Endowment Funds 16-25 Bequests and Planned Gifts 26-29 Catholic Health Foundation 30 Catholic Health Foundation 2017 Grants 34-36 Combined Statement of Activities 37 Combined Statement of Financial Position 38 Catholic Community Fund Board of Trustees CARDINAL SEÁN P. O’MALLEY, O.F.M., CAP. Archbishop of Boston Chairman PATRICIA KELLEHER BARTRAM Vice President of Development Archdiocese of Boston President JOHN E. STRAUB Chancellor Archdiocese of Boston Treasurer F. BEIRNE LOVELY, JR., ESQ. General Counsel Archdiocese of Boston Secretary FRANCIS J. O’CONNOR, ESQ. Assistant General Counsel Archdiocese of Boston Assistant Secretary DANIEL L. FITZGERALD Marblehead, MA VERY REV. WILLIAM P. JOY Assistant Vicar for Administration and Special Assistant to the Vicar General Archdiocese of Boston KEVIN P. MARTIN, CPA Principal/Founding Director Kevin P. Martin & Associates, PC From left to right: F. Beirne Lovely, Jr., Patricia Kelleher Bartram, John E. Straub, Very Rev. William P. Joy, Kevin P. Martin, VERY REV. BRYAN K. PARRISH Francis J. O’Connor, Daniel L. Fitzgerald, Very Rev. Bryan K. Parrish, and Lisa Lipsett Episcopal Vicar and Secretary for Parish Life and Leadership Archdiocese of Boston LISA LIPSETT, ESQ. Executive Director 2 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 CLOUGH, JR. Chairman & CEO, Clough Global STEPHEN M. DUFOUR Fidelity Investments MICHELLE A. KNIGHT Chief Investment Officer and Chief Economist Ropes Wealth Advisors LLC Socially Responsible Investing JAMES J. MAHONEY, JR. Mahoney Investments When you give through the Catholic Community Fund, your investment not only THOMAS C. STAKEM, JR. supports strong, faith-filled Catholic ministries throughout the Archdiocese of Vice-President & Director of Research Boston, but it is managed according to Catholic social teaching. Woodstock Corp. FREDERICK WEISS The Catholic Community Fund follows the U.S. Conference of Catholic Bishops’ MPC Capital Advisors, LLC (USCCB) Application of Moral Principles to Investment Practices, and seeks the best JOHN E. STRAUB possible returns while managing risk through appropriate allocation of funds among Chancellor various investments. Archdiocese of Boston Excluded from our investment strategy are abortion and abortion-related products MAUREEN CREEDON, CPA or services, birth control, tobacco, life-ending embryonic stem cell research, Director of Finance Archdiocese of Boston pornography, militarism, landmines, and firearms. JOHN ZONA, PH.D. Chief Investment Officer Boston College 3 Catholic Community Fund Support The Catholic Community Fund enables individuals, families, businesses and organizations to establish permanent charitable funds that help Catholic parishes, Catholic schools, Catholic social services, and other Catholic faith ministries meet long-term and future needs. Contributing to the Catholic Community Fund is a unique way to strengthen our Catholic organizations and ministries that support individuals and families of all ages, from our youth and young adult outreach and efforts educating our younger generations in the faith to our palliative care initiative and healthcare ministry providing care to our elderly communities. Programs through our marriage ministry and Natural Family Planning strengthen families at all stages. Our funds are dedicated to supporting lifelong faith formation, parish and Archdiocesan-based 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. 4 Artie and Judy Boyle Scholarship Fund “The Boyle Scholarship Fund makes the choice to stay at SJPIICA easier for the parents of these children every year. It means so much us.” - Kate Brandley Regional Director, Saint John Paul II Catholic Academy Established in 2012 by friends of Artie and Judy Boyle in their honor, the Artie and Judy Boyle Scholarship is awarded annually to students from Saint John Paul II Catholic Academy (SJPIICA) Dorchester. Recipients of the scholarship are chosen based on financial need, a desire to learn, and a commitment to live by the Golden Rule, "Do unto others as you would have them do unto you." Investing in Urban Schools According to SJPIICA Regional Director Kate Brandley, "In a city with the lowest graduation rate and highest poverty levels in the state, the Boyle Scholarship is critical in helping retain students LCA offers the resources that allow our students to excel in high school, pursue whose families may not otherwise be able to afford a college education, and thrive professionally and personally as adults, thus tuition. Every year, Brandley says about 200 SJPIICA students choose to leave the school. Financial need is the able to give back to the community. " reason why around 70% of those students leave. - Jorge Hernandez Principal, Lawrence Catholic Academy In the Archdiocese of Boston, about 38,000 students are educated each year within our 118 elementary and secondary Catholic schools, 60% located in urban settings. Catholic schools provide an excellent educational trajectory, with 97% of students graduating from high school and 92% going on to college. Bequests and funds from endowments help keep Catholic schools financially healthy, academically strong, and faith-filled. A collaborative effort of Our Lady of Good Counsel and Saint Patrick Parishes, Lawrence Catholic Academy is one of our urban Catholic schools. The school educates approximately 500 students in Grades PreK-8, many from low-income families, from Lawrence and surrounding communities. As a faith community, Lawrence Catholic Academy promotes the mandate of Jesus Christ to “love one another as I have loved you.” 55 Investing in Clergy: Clergy Health and Retirement Trust "Thank God for everyone at Regina Cleri. Nine months out from surgery, I was completely restored. I owe it all to them." - Monsignor Dennis Sheehan Our Lady Help of Christians, Newton When a senior Boston-area priest needs a place to spend his later years living out his vocation, Regina Cleri is both a comfort and a necessity. Located in Boston’s West End, Regina Cleri is home to 54 senior priests (25% of senior priests), with two respite rooms for active priests recovering from illness or surgery. Priests living at Regina Cleri (average age 87) can access additional health resources through on-site healthcare professionals, visiting occupational and physical therapists, exercise classes and a partnership with nearby Massachusetts General Hospital’s Senior Health program. Regina Cleri’s staff of dedicated individuals includes Sister Disciples of the Divine Master, who live on site and provide love and care for our senior priests 24 hours a day. Regina Cleri is just one way in which the Clergy Health and Retirement Trust (CHRT) cares for our priests.
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