Archive for category Catholic Church Finances
Archdiocese of New York priests receive biting letter on finances from Cardinal Dolan, while Hoboken parish kicks through veil of financial secrecy
Posted by Voice of the Faithful in Catholic Church Finances, Voice of the Faithful on January 12, 2017
Cardinal Dolan contemplates selling NY chancery in biting letter to priests
By Joshua J. McElwee, National Catholic Reporter
New York Cardinal Timothy Dolan has informed his clergy he is considering moving his archdiocese’s headquarters out of the building it now occupies in midtown Manhattan in a bid to save money and to correct what he says is an ‘unfair and inaccurate perception of the archdiocese as some bloated, money-grabbing corporation.’ The cardinal revealed the possible move in a highly charged letter to his priests and deacons in late November in which he also takes the clergy to task for complaining about how the archdiocese collects money from its parishes and exhorts them to challenge parishioners to donate more frequently and abundantly.”
Hoboken parish kicks through veil of financial secrecy
By Peter Feuerherd, National Catholic Reporter
Every year, the people of Ss. Peter and Paul parish here are presented with an annual report that spells out, in clear language and inviting format, an inventory of how their church is doing. The graphics are sparkling, but there are few pious sentiments. Lots of facts and figures. It’s more like a report to corporate shareholders than to a typical Catholic parish congregation. That is deliberate, says Msgr. Robert S. Meyer, pastor of the Catholic Community of Ss. Peter and Paul, located in the middle of a square-mile urban enclave on the Hudson River, just minutes from lower Manhattan via train. The city of 50,000 has boomed over the past few decades, in the process emerging as the dictionary definition of gentrification.”
Twin Cities archdiocese puts forth amended bankruptcy plan / National Catholic Reporter
Posted by Voice of the Faithful in Catholic Church Finances, Clergy Sexual Abuse, Voice of the Faithful on November 16, 2016
An amended bankruptcy plan for the St. Paul-Minneapolis archdiocese would potentially double the funds set aside for its creditors to the tune of as much as $133 million. Despite that increase, attorneys representing the 440 claimants say that the archdiocese’s contribution to the trust falls well short of its total assets, what they estimate above $1 billion, as does the per-person payout when compared to past similar settlements …
“While ‘at first blush’ the new proposal seems like a lot of money, it ‘falls so far short’ when compared to settlements in other dioceses, Jeff Anderson, an attorney for the creditors, said at a press conference Tuesday (Nov. 15) afternoon outside the federal courthouse in Minneapolis.
“‘This is a sham. It is deficient, and it’s misleading, and so we really have to call it out for what it is,’ he said.”
By Brian Roewe, National Catholic Reporter — Click here to read the rest of this story.
Judge rejects bid to tap parishes, schools in archdiocese bankruptcy / Star Tribune
Posted by Voice of the Faithful in Catholic Church Finances, Clergy Sexual Abuse, Voice of the Faithful on July 29, 2016
Catholic parishes, schools and other church properties cannot be included among the assets in the bankruptcy of the Archdiocese of St. Paul and Minneapolis, a federal judge ruled Thursday (Jul. 28).
“U.S. Bankruptcy Judge Robert Kressel denied the request by a committee representing clergy abuse victims to consolidate the assets of various entities linked to the archdiocese, which would have increased funds available to settle victims’ claims.
“The decision was met with relief by Catholic parishes and a pledge to appeal the ruling by the victims’ committee.
“Archbishop Bernard Hebda said he was pleased with the decision.”
By Jean Hopfensperger, Star Tribune — Click here to read the rest of this story.
Bookkeeper denies theft as U.S. church struggles with money controls / Associated Press on Cruxnow.com
Posted by Voice of the Faithful in Catholic Church Finances, Voice of the Faithful on May 2, 2016
A bookkeeper has pleaded not guilty to charges that she stole nearly $200,000 from a Catholic church and school in Albert Lea, marking the latest incident suggesting to some observers a problem with lax financial controls in American Catholicism …
“The latest charge of shoddy financial controls comes against the backdrop of a 2006 study by Villanova University, which found that 85 percent of dioceses in the United States had experienced some form of embezzlement within the previous five years, mostly at the parish level …
“A retired U.S. Postal Service inspector and lifelong Catholic named Michael W. Ryan has examined money management in the Church in the United States. His estimate is that Catholic parishes in the the country may lose as much as $90 million annually due to inadequate controls over the collection plate.”
By Associated Press on Cruxnow.com — Click here to read the rest of this story.
Pulling the plug on audit means gut-check for Vatican reform / Cruxnow.com
Posted by Voice of the Faithful in Catholic Church Finances, Vatican, Voice of the Faithful on April 22, 2016
When Pope Francis’ landmark project of financial reform was announced two years ago, one lynch-pin was the idea that the world would no longer just to have to take the Vatican’s word for it in terms of how much money it has and where it’s going.
“Instead there would be a credible audit carried out according to generally accepted business standards in the 21st century. That step, officials said, would represent a revolution in the direction of transparency and accountability.
As it turns out, it’s now a revolution delayed.
Crux has learned that on April 12, Italian Archbishop Giovanni Angelo Becciu sent a letter to all Vatican entities informing them that an audit being performed by the global firm Pricewaterhouse Coopers (PwC) has been ‘suspended immediately,’ and that any letters of authorization those entities have already issued to permit the transmission of financial data to PwC are to be revoked.”
By John L. Allen, Jr., Cruxnow.com — Click here to read the rest of this article.
Vatican probes funding of cardinal’s lavish apartment / Religion News Service
Posted by Voice of the Faithful in Catholic Church Finances, Vatican, Voice of the Faithful on March 31, 2016
The Vatican has launched an official investigation into the funding of the restoration of the apartment of the former secretary of state, Cardinal Tarcisio Bertone.
“The investigation involves two executives from Rome’s Bambini Gesu Children’s Hospital — former chairman Giuseppe Profiti and former treasurer Massimo Spina – who are being investigated for allegedly misappropriating hospital funds to pay for the restoration.
“Greg Burke, deputy director of the Vatican press office, confirmed the probe Thursday. He said Bertone was not under investigation.”
By Josephine McKenna, Religion News Service — Click here to read the rest of this story.
From the collection basket to the bank: Lax practices mean lost money / National Catholic Reporter
Posted by Voice of the Faithful in Catholic Church Finances, Voice of the Faithful on January 26, 2016
Sin and the Trinity.
“These are two elementary points of Catholic theology in the work of Michael W. Ryan, a retired U.S. Postal security specialist, who has spent more than two decades alerting church authorities to fixing accounting lapses in parish collections.
“First, sin.
“Ryan has focused since 1988 on what he calls the point ‘between the collection basket and the bank deposit.’ The resident of Milton, Mass., worked for the postal service in security, and knew from first-hand experience that, even with top-of-the-line procedures in place, there will be at least some postal employees tempted to embezzle.
“‘It only takes a second to scoop up a bunch of twenties,’ warns Ryan.
“There are parallels between the neighborhood post office and the local Catholic church. Both deal in cash payments. Both involve people with access to cash. But, says Ryan, ‘there is much more control over a postal clerk.’
“Ryan notes that there are people who will steal from the collection basket.”
By Peter Feuerherd, National Catholic Reporter — Click here to read the rest of this story. Michael Ryan is a Voice of the Faithful® trustee. Click here to read about VOTF’s extensive work on financial accountability and transparency in Catholic parishes and dioceses.
Financial misconduct in parishes is all too common / Cruxnow.com
Posted by Voice of the Faithful in Catholic Church Finances, Voice of the Faithful on December 22, 2015
Behind the sensational headlines about a New York priest (Rev. Peter Miqueli) accused of pilfering church coffers to pay for an extravagant lifestyle – “Priest paid his male ‘sex master’ from collection plate: lawsuit,” as the New York Post put it — is the surprisingly common accusation of a trusted employee or volunteer stealing cash from a parish …
“Miqueli’s case is tailor made for tabloid coverage, but it’s hardly unique. This year alone, a number of high-profile embezzlement cases involving Catholic institutions have been made public. While the reporting to civil authorities has increased, resulting in more publicity about such cases, one thing hasn’t changed: Pastors are too trusting and unwilling to implement strict financial controls.”
By Michael O’Loughlin, Cruxnow.com — Click here to read the rest of this story.
Voice of the Faithful’s Financial Accountability & Transparency Working Group’s long-time efforts in this area at the diocese and parish levels can be reviewed at votf.org under Programs/Financial Accountability.
Europe calls on Vatican to take more action on financial crime / The Wall Street Journal
Posted by Voice of the Faithful in Catholic Church Finances, Vatican, Voice of the Faithful on December 16, 2015
A European watchdog has put the Vatican on notice to prosecute those suspected of financial crimes now that the city-state has brought its laws on money laundering and terrorist financing in line with international standards.
“‘The Vatican ‘needs to deliver some real results on the prosecutorial side,’ said a report published Tuesday (Dec. 15) by the Council of Europe’s Moneyval committee. Nobody has yet been prosecuted under a 2013 Vatican anti-money-laundering law.
“The committee praised the ‘intensive review process’ at the scandal-plagued Vatican bank. The bank has closed around 4,800 accounts, in some cases because a client’s profile didn’t conform with the bank’s stated mission to serve ‘works of religion.'”
By Massimo Faggioli, The Wall Street Journal — Click here to read the rest of this story.
Vatican to try five, including reporters, over leaks scandal / Reuters on Religion News Service
Posted by Voice of the Faithful in Catholic Church Finances, Vatican, Voice of the Faithful on November 23, 2015
The Vatican on Saturday (Nov. 21) ordered five people, including two Italian journalists, to stand trial for leaking and publishing secret documents, in the latest development in a leaks scandal which is rocking the papacy.
“The trial stems from the publication of two recent books which depict a Vatican plagued by mismanagement, greed and corruption and where Pope Francis faces stiff resistance from the old guard to his reform agenda.
“The Holy See was embarrassed and angered by the books, which it said used information that should never have been allowed to leave the walls of the city state.”
By Reuters on Religion News Service — Click here to read the rest of this story.
-
You are currently browsing the archives for the Catholic Church Finances category.
Voice of the Faithful
A lay movement for governance reform in the Roman Catholic Church, responding to the clergy sexual abuse scandal and supporting survivors.
Voice of the Faithful- An error has occurred; the feed is probably down. Try again later.
Voice of the Faithful ® 