Finance
66 Brooks Drive
Braintree, MA 02184-3839
Secretariat: Chancellor's Office
 
 

Contacts

 
 
Maureen Donnelly Creedon, CPA
Director of Finance
Office: 617-746-5878
Fax: 617-746-5762
Joe Crehan, CPA
Controller
Office: 617-746-5728
Fax: 617-746-5762
Jennifer Richardson
Assistant Controller – Related Entities & Payroll
Office: 617-746-5721
Fax: 617-779-4568
Yitao Ward
Senior Manager of Financial Practices & Parish Accounting
Office: 617-746-5710
Fax: 617-746-5762
Michael Crowley
Manager of Banking and Investment Services
Office: 617-746-5714
Fax: 617-746-5762
John Luukko
Central Ministries Budget and Accounting Manager
Office: 617-746-5711
Fax: 617-746-5762
Tricia Hamilton
Treasury & Revolving Loan Fund Coordinator
Office: 617-746-5729
Fax: 617-779-4510
Victoria Keefe
Accounts Receivable
Office: 617-746-5727
Fax: 617-779-4568
Tom Larner
Stock Donations and General Inquiries
Office: 617-746-5884
Fax: 617-779-4568

Finance

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Management Discussion and Analysis FY05

Discussion & Analysis of the Financial Statements

Introduction

The most recent audited financial statements of the Roman Catholic Archbishop of Boston, a Corporation Sole (Corporation Sole) available are for the two fiscal years ended June 30, 2005. These statements, including the combined financial information for the parishes as a group, the central office, the insurance funds and the endowment funds, are provided in section five of this presentation. The Corporation Sole financial statements are complex. The purpose of this report is to explain what these financial statements are telling us and provide a context to help readers further their understanding of them. This is done by answering a series of key questions about the financial statements, with a focus on the following concepts:

  • What does Corporation Sole own?
  • How is it owned, or who has an interest in it?
  • How did that ownership change during the year?
  • What is the assessment of its financial condition?

This analysis also answers questions about such matters as the status of the Revolving Loan Fund, activities of the Parish Reconfiguration Funds, the impact of the Clergy Benefit Funds on Corporation Sole and other matters not readily answered by the audited financial statements. The questions related to the sources and uses of funds for the sexual abuse settlements are the subject of a separate report that is being issued simultaneously with this report and therefore are not included in this discussion.

Some underlying principles are important to understand in order to use this analysis effectively. Corporation Sole follows the accounting practices used by not-for-profit organizations. Ownership or equity is defined for a not-for-profit organization as "Net Assets," that is, the amount by which assets held exceed the recorded liabilities of the organization. If these assets were received from donors with restrictions on their use, then they are restricted net assets. Some restrictions are imposed in perpetuity (e.g. the establishment of a permanent endowment fund), in which case the net assets are "permanently restricted." Donor-imposed restrictions that can be fulfilled with the passage of time or by using the net assets for the specified purpose result in net assets that are "temporarily restricted." All other net assets are considered to be "unrestricted net assets," that is, there are no external restrictions on how they can be used.

Finally, even though there may be no external restrictions on net assets, the amounts may have been internally earmarked or designated for a specific purpose. Some designations result from the nature of the assets involved (e.g. land, buildings and equipment are designated as "Investment in land, buildings and equipment" because they are effectively used for the operations of the organization). Some designations result from the activity with which the net assets are associated (e.g. assets associated directly with the insurance programs of the Archdiocese have been segregated and are used for insurance and risk management purposes). Finally, some assets have been specifically designated by the governing board or the Archbishop (e.g. the net assets associated with the reconfiguration of the parishes have been segregated so that these funds can be reported separately).

The financial statement highlights for 2005 listed below summarize the financial picture of the Corporation Sole at June 30, 2005. Clearly, Corporation Sole is in a difficult financial position as it faces many challenges.

2005 Financial Highlights

  • Net assets totaled $329.7 million, however, unrestricted/undesignated net assets show a cumulative deficit of $46.3 million.
  • Net assets increased $4.3 million, primarily as the result of gains on property sold to fund operating needs.
  • Provisions in 2005 for the handling of clergy sexual abuse claims were $25.0 million.
  • Unfunded pension fund costs of $135.0 million, $38.3 million in debt and $28.9 million in reserves (this includes the $25.0 million above) are major liabilities. At this point, new external borrowing is not a real alternative.
  • Revolving Loan Fund had a $15.2 million deficit at year end
  • Parish Reconfiguration Fund net assets totaled $22.8 million at year end
  • Clergy Benefit Trusts Fund balances declined $6.8 million, as the cost of medical, disability, pension and other benefits increased.

These highlights are explained more fully in response to the "Key Questions" that follow. The response to Key Question #10,  "What has been and is being done to deal with the financial challenges we face?"  is the most important part of this discussion.

Key Questions

1)      What was the financial position of Corporation Sole at June 30, 2005?

2005StatementFinancialPosition

 

 

 

 

 

 

 

 

The pie chart below shows the $329.7 million of Corporation Sole 2005 net assets separated into its four divisions. Parishes at $270.4 million account for about 82% of the total, with Central Fund, Insurance Fund and Endowment Fund accounting for the remaining 18%.

2005CS_TotalNetAssets

 

 

 

 

 

 

 

 

 

 

 

Additional information about the content of Corporation Sole's assets and liabilities will be provided in Questions #4 and #5.

2)   How much of the 2005 Net Assets are subject to external restrictions or internal designations?

It is important to understand that much of what is owned by Corporation Sole is subject to restrictions or designations. Only the undesignated resources are readily available to meet its many financial challenges. The following table shows the portion of the net assets that is subject to external restrictions or internal designations as of June 30, 2005. Unfortunately it shows that there are no unrestricted, undesignated net assets, but rather a deficit of $46.3 million.

FY05_2

 

 

 

 

 

 

 

 

 

3)   How have the Net Assets changed during the year?

Overview of Changes in Net Assets

Overall, the net assets increased by $4.3 million during 2005.

Parish net assets decreased in total by $10.4 million. As discussed, the net assets related to parish reconfiguration were transferred from the Parish division to the Central Fund division. The total amount of this transfer was $33.9 million. In addition, the Parish division incurred clergy retirement costs, net of contributions, of $9.8 million (a portion of this cost was due to the decrease in the discount rate). These decreases to net assets were partially offset by net gains on sales of property of $14.6 million, transfers of $13.8 million to the parishes from Central Fund, including the Parish Reconfiguration Fund, in the form of property, operating and construction aid and other net capital expenditures and operating items of $4.9 million.

The principal reason for the $6.5 million increase in the Central Fund was the net assets from the parish reconfiguration transfer offset by operating deficits and additional reserves for defense costs and settlements of clergy misconduct claims.

The Insurance Fund increases came from positive operating results, while the Endowment Fund increases were the result of additional donor-restricted gifts.

FY05_3

 

 

 

 

 

 

 

 

 

 

The Statement of Activities explains the changes in net assets. Changes in net assets result from operating and nonoperating activities of Corporation Sole. Operating activities are summarized as revenues (increases) and expenses (decreases) in net assets. A more detailed explanation of the revenues, expenses and non-operating activities follows:

FY05_3_Statement_Change

 

 

 

 

 

 
Operating Activities-Revenues

The table below summarizes the comparable revenues, gains and other support for fiscal 2005 and 2004.

FY05_3_OperatingActivities1

 

 

 

 

 

 

 

 

Overall, revenues declined $1.0 million between the two years. Tuition and Fees increased by $7.0 million or 7.2%. This was the result of tuition rate increases at the parish schools ranging from 3.5% to 9.0%. In fiscal 2006, there are approximately 30,500 students in parish grammar and high schools. Parish collections declined. The Catholic Appeal revenues as presented here are for the fiscal years ending in June.  The Catholic Appeal measures its performance on an appeal campaign year so the above amounts differ from the published results of the Catholic Appeal.

Investment income, which changed by $2.4 million, includes the yield from participation earnings or from participation in the Common Investment Fund Roman Catholic Archbishop of Boston, Fixed Income Fund Roman Catholic Archbishop of Boston, short-term investments and outstanding loans to Related Organizations.

Parish collections and other fundraising decreased $4.7 million or 3.3%. They included:

Rental and Revenue from services provided decreased by $0.5 million or 2.3%. It included:

FY05_3_OperatingActivities2jpg

 

 

 

 

 

 

 

 

Other revenues decreased by $1.9 million from $26.2 million in fiscal 2004 to $24.3 million in fiscal 2005. Other revenues consist of all other parish and school revenue that does not fall into other categories. The decrease is consistent with the decline in the number of parishes and schools.

Operating Activities-Expenses

Overall operating expenses increased $4.3 million or 1.3% for fiscal year 2005, and primarily consisted of costs associated with pastoral programs and the parish reconfiguration process. The composition of Corporation Sole's program and other expenses includes:

FY05_3_OperatingActivitiesExpenses

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Most of Corporation Sole's expenses are incurred at the parish level in connection with pastoral services and education programs. Pastoral services primarily includes operating expenses of the parishes and also includes support towards the work of pastoral service agencies, such as the Multi-Cultural Ministries, Ethnic Apostolates, Health Care Ministry, Pastoral Ministries, Youth Ministries, Family Life and other pastoral-support programs.

The Education program includes operating expenses of the parish schools and support for the works of the Catholic School Office, Religious Education Office, Ecumenical affairs and college Campus Ministry programs.

Another parish-based operation is that of the 44 cemeteries that are not operated by The Catholic Cemetery Association of the Archdiocese of Boston, Inc.  Finally, there are expenses for parish youth centers in social and various fundraising events held throughout the parish network under fundraising

Nonoperating Activities

Nonoperating income and expenses/losses include investment performance other than current investment income, any gains or losses on the sale of property, and non-operating expenses (e.g. provision costs related to sexual abuse settlements, parish reconfiguration costs). These revenues and/or costs can fluctuate significantly from one year to the next as is shown for 2005 and 2004 in the following table and the accompanying explanations:

FY05_3_NonOperatingActivities1

 

 

 

 

 

 

 

 

 

 

 

The $87.2 million gain on sale of administrative campus in 2004 included a portion of real estate that was first purchased from St. John's Seminary. The 2004 purchase-and-sale agreement with St. John's Seminary contained a contingency in which the purchase price would be adjusted for insurance recoveries received by Corporation Sole up to $30 million, net of recovery costs. During fiscal 2005, insurance recoveries were received, and, accordingly, $25.2 million was due as resolution of this contingency.  Of the total due, $20.3 million was paid in cash and $4.9 million was paid in the form of a note to St. John's Seminary.

In fiscal 2005, Corporation Sole reached settlements with its insurance carriers for sexual misconduct claims and related legal defense costs, which generated $33.4 million of recoveries. As indicated above, $25.2 million was due to St. John's Seminary. In addition, $7.0 million was set aside for future sexual misconduct claim settlements and related expenses.

Settlement and related expenses include costs incurred in 2005 as well as reserves established to provide for subsequent settlements reached in 2006, future costs of defense, settlements and other anticipated costs.

The 2005 change in the additional minimum pension plan liability was primarily the result of a reduction in the discount rate used to determine the present value of pension obligations from 6.0% to 5.25%.

4)   What assets did we have and why did they change during the year?

For the fiscal years ending June 30, 2005 and 2004, total assets within Corporation Sole were $567.5 million and $522.8 million respectively, an increase of $44.7 million or 8.6%.

FY05_4

 

 

 

 

 

 

 

 

 

 

 

 Asset Changes Fiscal 2005 versus Fiscal 2004

Cash and Cash Equivalents include parish operating cash and parish investments in the Revolving Loan Fund as well as cash designated for several other purposes as shown in the table below. This cash is deposited in hundreds of separate accounts. (As of June 30, 2005, there were 303 parishes that each have separate accounts for their regular operations.)

FY05_4_AssetChanges1

 

 

 

 

 

 

 

 

 

The most significant changes in 2005 resulted from an increase of deposits from the parishes into the Revolving Loan Fund, an increase in Central operations cash from proceeds on sales of non-parish reconfiguration properties, and the establishment of a separate account into which the proceeds of the sales of certain parish reconfiguration properties were deposited.

The $7.0 million of "Cash limited as to use" was received in 2005 from an insurance settlement and can only be used for pending claims and related legal costs.

Loans, contributions and other receivables, net, remained relatively flat between the years.

FY05_4_AssetChanges2

 

 

 

 

 

 

 

 

Land and buildings held for sale of $7.8 million reflect properties held for sale from parish reconfiguration as of fiscal year-end. Subsequent to June 30, 2005, some of these properties were sold with estimated net proceeds of $39.7 million and an estimated realized gain of $36.0 million.

Land, buildings and equipment are recorded at historical cost (original acquisition cost plus the cost of improvements) less accumulated depreciation in accordance with generally accepted accounting principles. This recorded amount bears no relationship to the actual value of the properties or to the estimated replacement cost in the event the properties had to be rebuilt. There are approximately 1,500 buildings owned by the Archdiocese, most of which are churches or schools, which are insured at an estimated reconstruction cost for the structures (excluding land) of $2.8 billion.

Investments and interest in other entities was $77.8 million, reflecting a slight decrease of $1.7 million from the prior year. This net decrease was comprised of two pieces. Investments and assets held under split-interest agreements increased by $5.5 million, primarily from increased Endowment Fund contributions of $4.2 million. This was the result of the Promise for Tomorrow Capital and Endowment Campaign of the Archdiocese of Boston. Interest in net assets of foundations decreased by $7.2 million. This was a result of distributions made by the foundations to Corporation Sole, which were used for designated or restricted purposes.

5)  What liabilities did we have and why did they change during the year?

Total liabilities were $237.8 million and $197.4 million at June 30, 2005 and 2004 respectively, an increase of $40.4 million or 20.5%.

FY05_5

 

 

 

 

 

 

 

 

 

 

Liability Changes Fiscal 2005 versus Fiscal 2004

Accrued pension and other retirement costs increased $9.8 million (7.8%) due primarily to a change in the discount rate used to determine the present value of clergy pension obligations from 6.0% to 5.25%.

Notes payable increased by $5.5 million, primarily due to an additional net borrowing of $4.0 million for Central Fund operational needs, and $1.5 million of construction loans at two parishes. In addition, note payable - related organization increased $4.9 million as the result of a note issued to St. John's Seminary in connection with the acquisition of property for resale to Boston College.

Reserve for losses increased by $24.6 million, primarily due to a reserve established for future costs of defense and settlements arising from claims of abuse occurring prior to June 30, 2005.

Other liabilities decreased by $4.5 million and consists of related organizations' savings accounts held in the Revolving Loan Fund.

6)   What is the financial status of the Parish Revolving Loan Fund?

The Revolving Loan Fund is essentially an internal savings-and-loan program. Parishes can currently earn 4.0% on their deposits in the fund or borrow at 5.5% from the fund, primarily to finance parish capital improvements. There are some other Catholic institutions that participate in the program, but the principal participants are the parishes.

At June 30, 2005, the fund had 146 outstanding loans; 28 loans to parishes affected by parish reconfiguration, 113 loans to other parishes and 5 loans to related organizations. A summary statement of financial position for the Revolving Loan Fund, as extracted from the parish consolidation is as follows:

FY05_6

 

 

 

 

 

 

 

 

 

 

 

 

 

*    During the late 1980s and throughout the 1990s, the Fund made several loans to parishes to finance operating deficits, urgent capital repairs and parish building programs. Unfortunately, many of these loans proved to be uncollectible and had to be written off (as part of the Archdiocesan Jubilee Year, $13.7 million of these loans were actually forgiven). As a result, the Fund was in a deficit position of $15.2 million at June 30, 2005. The intended use of all of the funds from the parish reconfiguration process is to benefit the parishes. In 2006, $13.7 million of parish reconfiguration proceeds were used to restore the Revolving Loan Fund and reduce the deficit. Going forward, the Revolving Loan Fund policy is to lend for capital improvements to parishes where there is a demonstrated ability to repay such loans. This should enable the Revolving Loan Fund to become fully solvent going forward.

7)    What were the operating activities of the Central Fund?

FY05_7

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

Operating activities of the Central Fund are primarily supported by the annual Catholic Appeal (39% of revenue) and contributions including certain collections, bequests and grants. Revenue for services provided includes fees for administration, technology and management services and program fees from areas such as Education, Pastoral, Ministerial and Social Services (28% of revenue).

Operating expenses for Pastoral and Education, Ministerial and Social, Community and Auxiliary Services have also remained relatively consistent the last two fiscal years.

Management and General Expenses remained flat between the two years.

FY05_7a

 

 

 

 

 

 

 

 

 

Expenses for the parish reconfiguration effort accounted for 89% of the $3.8 million increase in operating expenses. Within the Central Fund, the transfer from Parish Reconfiguration Funds (in nonoperating activity) and additional borrowings were used to support the operating loss.

8)  What were the activities of the Parish Reconfiguration Fund during the year?

The Parish Reconfiguration Fund was established within the Central Funds to separately account for financial activity of the closed parishes involved in this effort. Since the initial plan was established, fifty-eight parishes have been closed with six new parishes created and four parishes merged into two. This resulted in a net reduction of 54 parishes including 16 that were under vigil or appeal (to remain a parish) as of June 30, 2005.

Below is a summary of changes in net assets for parish reconfiguration as extracted from within Central Funds.

FY05_8

 

 

 

 

 

 

 

 

 

 

 

 

 

During the year, $33.9 million in net assets were transferred to Central Fund - Parish Reconfiguration Fund, where these funds are separately accounted for. The net assets transferred included cash and investments of $13.3 million; net land, buildings and equipment of $22.1 million; and other assets of $3.9 million; net of parish liabilities owed to Archdiocesan trusts and insurances of $2.3 million; debt to Revolving Loan Fund of $2.3 million; and other payables/accrued expenses of $0.8 million

Operating activities included revenue of $1.0 million and $4.0 million of operating expenses principally for property management, interest, audit, office and related costs.

Non-Operating activities included net gains from the sale of property. The transfers to related organizations of $19.8 million, included direct aid to parishes of $3.2 million, direct aid to cemeteries of $0.8 million (parish and non-parish), the transfer of $8.6 million of property to parishes and cash transfers of $7.2 million to support ongoing operations of the Central Fund.

Below is a summary statement of financial position for the parish reconfiguration fund at the respective June 30 year-ends.

FY05_8a

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

9)  What issues with the Clergy Trust funds impact Corporation Sole?

The clergy funds, including the Clergy Retirement/Disability Trust, the Clergy Medical/Hospitalization Trust and the Clergy Benefit Trust, hold the assets used to pay various clergy benefits. The challenge is to adequately fund these trusts to provide for the retirement, disability, medical and other benefits for the clergy in an environment of unfavorable trends. These trends include rapidly increasing medical costs, an aging priest population that is living longer once in Senior Priest status and the increased financial burdens of priests unable to perform their duties.

FY05_9

 

 

 

 

 

 

 

 

 

These three components of the clergy funds provide monies for our priests' health benefits; retirement stipends; nursing home and assisted-living costs; as well as stipends for priests unable to perform their duties. The unfunded liability of the Clergy Retirement and Disability Trust, estimated to be $135.0 million as of June 30, 2005, is not reflected in this Trust, but rather in the combined liabilities of the Parish division of Corporation Sole. While the estimated unfunded liability is considerable, it does not take into consideration future Christmas and Easter collections, which are the primary funding sources for clergy benefits. The Clergy Fund Advisory Committee is currently considering several steps to address this concern, including reductions in benefits through plan design changes and greater cost sharing with the priests and parishes. The Advisory Committee continues to review the operations and expenses funded by these Trusts with the intention of identifying additional opportunities to reduce costs and manage their obligations. There may also be additional assistance from the Parish Reconfiguration Funds.

It is important to understand that the future viability of the clergy programs relies heavily on the assumption that the Christmas and Easter Collections for this purpose will continue at their current levels. As the primary financial support for the Trusts, these collections help to ensure that our active priests are able to receive adequate health care and support, as well as needed care in their retirement.

10) What has been and is being done to deal with the financial challenges we face?

The Cardinal currently has all major Archdiocesan operations under review. An Operations and Financial Review Group under the auspices of the Finance Council was formed in the summer of 2005 with the objective of reviewing the budgets, programs and operations of the Central Funds. The Central Funds represent the majority of the administrative and pastoral services, including the Chancery organization of the Archdiocese.

The Operations and Financial Review Group focused on two primary goals: to understand the mission, objectives and services provided by the various organizations budgeted within the Central Funds and to help create a plan to return the Central Funds to financial stability.

Recommendations include:

  • Reorganize the Cabinet. Reduce the number of cabinet secretaries; combine certain functions under one cabinet position.
  • Create a more responsive organization through clarification and regionalization of authority. Expand the Auxiliary Bishops' and Vicars' roles to improve the linkage between pastors, priests and parishioners and the central services operations.
  • Develop a balanced budget over the next 18 months. Strive for a break-even budget before debt service for fiscal 2007, and achieve a break-even budget, including debt service, for fiscal 2008.
  • Initiate a strategic plan for the Archdiocese of Boston, including a five-year capital plan. Involve the pastors, priests and parishioners in the process.

Actions taken to date include:

  • The Cardinal has appointed Fr. Richard Erikson, ordained for the Archdiocese of Boston in 1985 and currently Lt. Col. USAF military chaplain, as Vicar General and Moderator of the Curia, succeeding Bishop Richard Lennon. Fr. Erikson will assume his new responsibilities in the Archdiocese on or about June 15, 2006.
  • The Operations and Financial Review Group has now assumed a new role as an implementation committee to assist the Cardinal with the specific initiatives necessary to balance the operating budget over the next eighteen months.
  • The Cardinal has recently reduced the number of cabinet secretary positions to eight, including new secretariats for Regional Services and Institutional Development. Key to the fiscal recovery will be the new appointee to replace retiring Chancellor David Smith. The naming of the new Chancellor is expected in the near future.

The 2007 Budget

The current projection for fiscal 2006 is an operating deficit of $7.8 million. At present, the 2007 budget is being drafted and is still under review. The plan calls for a $4.5 million reduction of the Central Fund operating deficit in fiscal 2007.

Planning the Future of the Archdiocese

Upon the completion of the review of the Archdiocesan School system and the selection of candidates for the open positions of Chancellor, Secretary for Institutional Advancement and Secretary for Education Services, the Cardinal intends to initiate a process to plan the future of the Archdiocese of Boston. The planning process will include members of the clergy, laity and Central Administration. The Cardinal hopes that, through this process, all parties can better understand and appreciate the challenges we face ahead and work to identify opportunities to rebuild the local Catholic community through increased participation and support.

Acknowledgements

We wish to thank the Financial Transparency Project Committee for their contributions to the creation of this report. We also extend a special thank you to the many members of the Chancery staff who worked so hard to produce the report.

Jack McCarthy, CPA (Chair), Principal, The Hauser Center for Nonprofit Organizations at Harvard University

Tiziana Dearing, Executive Director, The Hauser Center for Nonprofit Organizations at Harvard University

Jack Dunn, Director of Public Affairs, Boston College

Rev. Michael Lawlor, Pastor, Saint Joseph Parish, Needham

Rev. John E. MacInnis, Pastor, Saint John The Baptist Parish, Peabody

Rev. Brian F. Manning, Pastor, Saint Mary Of The Nativity Parish, Scituate

George Massaro, CPA, Managing Partner, Huron Consulting Group

George Neble, CPA, Partner, Ernst & Young

Jack Reardon, Parishioner, St. Anthony of Padua Parish, Cohasset

Tom Reardon, Parishioner, St. Anthony of Padua Parish, Cohasset

Ann Marie Thornburg, CPA, Partner, PricewaterhouseCoopers

RELATED ORGANIZATIONS

Community Relations

  • Boston Catholic Television Center, Inc.
  • Massachusetts Catholic Conference, Inc.

Education

  • Archbishop Williams High School, Inc.
  • Archdiocesan Central High Schools, Inc.
  • Bishop Fenwick High School, Inc.
  • Cardinal Spellman High School, Inc.
  • Cathedral High School, Inc.
  • Lowell Catholic High School, Inc.
  • Marian High School, Inc.
  • Matignon High School, Inc.
  • North Cambridge Catholic Corporate Work Study Program, Inc.
  • North Cambridge Catholic High School, Inc.
  • Pope John XXIII High School, Inc.
  • St. Sebastian's School, Inc.

Foundations, Funds, Trusts

  • Archdiocese of Boston Clergy Benefit Trust
  • Archdiocese of Boston Clergy Retirement/Disability Trust
  • Archdiocese of Boston Clergy Medical/Hospitalization Trust
  • Benefit Trust for Non-Incardinated Priests Duly Assigned for Service in the Archdiocese of Boston
  • Caritas Christi Retirement Plan and Trust
  • Archdiocese of Boston Clergy Assistance Trust
  • RCAB Collective Investment Partnership
  • Common Investment Fund, Roman Catholic Archbishop of Boston
  • Fixed Income Investment Fund, Roman Catholic Archbishop of Boston
  • Roman Catholic Archdiocese of Boston Health Benefit Trust
  • Roman Catholic Archdiocese of Boston Life Insurance and Accidental Death, Dismemberment and Long-Term Disability
  • Insurance Trust
  • Pension Plan and Trust of the Roman Catholic Archdiocese of Boston
  • St. Mary's High School Foundation, Inc.
  • The Catholic Foundation of the Archdiocese of Boston, Inc.
  • The Catholic Schools Foundation, Inc.
  • Roman Catholic Archdiocese of Boston Transition Assistance Program Trust

Health Care

  • Caritas Christi

Ministerial

  • Blessed John XXIII National Seminary, Inc.
  • Regina Cleri, Incorporated
  • St. John's Seminary
  • The Missionary Society of St. James the Apostle

Social Service

  • Catholic Charitable Bureau of the Archdiocese of Boston, Inc.
  • Life Resources, Inc.
  • St. Ann's Home, Inc.

Other

  • Massachusetts Catholic Self Insurance Group, Inc.
  • Planning Office for Urban Affairs, Inc.
  • The Catholic Cemetery Association of the Archdiocese of Boston, Inc.
  • The Office of Outreach, Assistance, Education and Prevention of the Archdiocese of Boston, Inc.
  • The Propagation of the Faith of Boston, Inc.

The compilation of the Related Organization listing will be updated on our website as additional information becomes available.