Capital campaign falls short in Philadelphia archdiocese
Catholic World News - April 14, 2014
A major fundraising Archdiocese of Philadelphia has fallen short of its goal, due in part to an unusually high level of unfulfilled pledges.
The archdiocesan capital campaign, designed to raise $200, had concluded in 2011 with $221.5 million in pledges. But that figure included $36.5 million raised by parishes conducting their own simultaneous campaigns, a review has disclosed. Thus the pledges received fell short of the $200 million goal.
Moreover, audited financial statements show that the archdiocese has already written off more than $18 million in pledges, acknowledging that those funds will not be collected. Another $34 million in pledges are now classified as “doubtful.”
Since assuming leadership of the Philadelphia archdiocese in 2011, Archbishop Charles Chaput has battled to place the archdiocesan budget on a found financial footing. That effort has been complicated by negative publicity surrounding the sex-abuse trials of several priests and one former chancery official, and the arrest of the former chief financial officer of the archdiocese, who was eventually convicted for embezzling funds.
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Posted by: brenda22890 -
Apr. 15, 2014 10:50 AM ET USA
May God bless Archbishop Chaput, whose voice is so needed in the Church today.
Posted by: Frodo1945 -
Apr. 15, 2014 9:41 AM ET USA
Archbishop Chaput was given a cross when he came to Philly and he is carrying it magnificently. One of the bright shining lights in the church in America.