Click here to advertise on CatholicCulture.org

Philadelphia archdiocese sells nursing homes for $145M

Catholic World News - July 02, 2014

The Archdiocese of Philadelphia has announced that it has sold seven nursing homes and assisted-living facilities for $145 million.

The buyer, Center Management Group, has agreed to maintain the homes’ chapels, to hire priests to serve as chaplains, and to abide by the US bishops’ health care directives.

The archdiocese stated that as of June 30, 2014, it had approximately $287 million in underfunded balance sheet liabilities, $218.3 million of which was for clergy and lay pensions.

Additional sources for this story
Some links will take you to other sites, in a new window.

An appeal from our founder, Dr. Jeffrey Mirus:

Dear reader: If you found the information on this page helpful in your pursuit of a better Catholic life, please support our work with a donation. Your donation will help us reach seven million Truth-seeking readers worldwide this year. Thank you!

Progress toward our August expenses ($14,880 to go):
$35,000.00 $20,119.98
43% 57%
Sound Off! CatholicCulture.org supporters weigh in.

All comments are moderated. To lighten our editing burden, only current donors are allowed to Sound Off. If you are a donor, log in to see the comment form; otherwise please support our work, and Sound Off!

There are no comments yet for this item.

Subscribe for free
Click here to advertise on CatholicCulture.org

Recent Catholic Commentary

The Blessed Book of Beasts 24 hours ago
Weekend reading August 29
Frustrating the Moral Law August 29
Weep for slaughtered Christians, not for dialogue with Islam August 29
An Appointment that Francis Should Withdraw August 28

Top Catholic News

Most Important Stories of the Last 30 Days
‘A real via crucis’: Pope Francis, patriarch plead on behalf of Iraq’s Christians CWN - August 8
Hundreds of thousands of Iraqi Christians in flight as Islamic State advances CWN - August 8