Capital campaign falls short in Philadelphia archdiocese

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.

 

---

For all current news, visit our News home page.

---

 
Further information:

• Philadelphia Archdiocese's campaign raises less than $200 million (CNS)
• Archdiocesan fund campaign collection falls short by millions (Philadelphia Inquirer)
• Philadelphia archdiocesan reports show huge financial deficits (CWN, 7/3/13)