CHICAGO (ChurchMilitant.com) - The archdiocese of Chicago's financial situation is being described as "unstable" amid sharp declines in parish and school attendance and a growing number of clerical sex abuse settlements.continue at ChurchMilitant
In a financial statement released Tuesday the finance team for Chicago Abp. Blase Cupich admitted the archdiocese faces "continued financial pressure" and despite "recent progress, some of [their] parishes and schools have low parishioner and/or student counts, unstable operating results and unsustainable capital repair needs." The 2015 report reveals a decrease of $1 million in parish collections compared to the prior year and a near $5 million loss at the diocesan parish center. Expenses at diocesan schools alone exceeded the tuition and fee intake by $40.2 million last year; the archdiocese of Chicago has nearly 250 elementary schools, seminaries and universities.
Chicago Archdiocese has paid out $140 million in clergy sex abuse settlements, situation "unstable"
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3 comments:
Go read the Sun-Times article for yourself. This is spin, if there ever was one. The million dollar loss is an improvement from two years ago. Chicago is finally making decisions (catch up) to the reality that New York, Philly, and other large diocese faced 5-10 years ago regarding closures (some to many based on changed demographics - Catholics moving out).
Ok thanks Mark
http://chicago.suntimes.com/news/archdiocese-chicago-cupich-financial-woes/
Additionally the Arch under Bernardin knew it wouldn't be able to sustain schools with a lack of nuns and people moving out. This is what gave way to the Big Shoulders Fund whose purpose is to fund inner-city schools that have stable enrollments but otherwise don't have the finances to cover their costs. As such it isn't surprising to report that many schools don't make ends meet on their own - they do so with Big Shoulders.
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