Annual Report (PDF download)

2015 Annual Report
To the Stewards of Saint Peter of The Papal Foundation,
The visit of our Holy Father, Pope Francis, was a time of grace for the Church
in the United States. The Pope’s presence provided all of us an opportunity to
renew our appreciation of our faith, the role of Peter in Christ’s plan for his
Church and the continuation of that ministry in the person of Pope Francis. As
he said in his homily during the Canonization Mass of Junípero Serra, “Today,
like him, may we be able to say: Forward! Let’s keep moving forward!”
This has been a milestone year for The Papal Foundation—an
anniversary year—and a time to reaffirm our own mission to serve Christ, His
Church and all who are in need. From the hope-filled, prayerful beginnings of
the last 25 years, the stewards have created a remarkable story of care for our
most vulnerable sisters and brothers; of building centers for worship, service
and evangelization, and of preparing new generations of spiritual leaders for
the Church worldwide. The 2015 presentation of $15 million to the Holy Father
for his charitable work is the largest gift in the Foundation’s history. Pope
Francis expressed his deep appreciation to all of the Foundation members for
what you have accomplished.
“Merciful Like the Father” is the motto for the Jubilee Year of Mercy
that Pope Francis has proclaimed for 2016. As we enter into this time of renewal
and reflection, The Papal Foundation will continue in its commitment to share
God’s mercy with those who are most in need.
As I present this report, I add my own words of appreciation to all of
you for what you accomplish.
With every personal good wish, I am
Faithfully in Christ,
Archbishop of Washington
Chairman, The Papal Foundation
The Mission of The Papal Foundation
is to
serve the Holy Father and the
Roman Catholic Church. We do this by gathering
in a corporal and
cooperative collaboration of laity,
clergy and hierarchy within the Church,
in witness to one another
of our faith, and drawing strength from the witness
of the Holy Father. We bring and
contribute our faith, our
energy, and our financial resources, to serve those needs
of the Church of particular significance to the Holy Father, always
with a commitment to walk in union
with the Holy Father
and the Magisterium of the Church.
A Vision Becomes Reality
T
wenty-five years ago, a small group of U.S. Catholic bishops and laity began
a bold journey. The Holy See’s financial health was in turmoil. Deficits,
unprofitable investments and mounting costs were crippling the Holy
Father’s ability to fund charitable work, even the programs nearest to his heart.
The group, led by John Cardinal Krol, Theodore Cardinal McCarrick, and John
Cardinal O’Connor, brought together some of the Church’s best financial minds
to find a way that Catholics in the United States could come to the aid of the Holy
See, witness to each other, and touch lives around the world.
These visionary leaders helped
to establish an endowment that
would generate sustainable funds
for the work ahead. A portion of
the proceeds from investments
would be made available each
year in support of programs of
particular concern to the Holy
Father. Only companies that
engaged in activities consistent
with our faith would be part of
the investment portfolio. The
Papal Foundation was born.
“Have no fear of moving into the unknown.
Simply step out fearlessly knowing that
I am with you, therefore no harm can
befall you; all is very, very well. Do this in
complete faith and confidence.”
— Pope John Paul II
The Foundation’s first presentation of funds was a grant for refurbishing the
Vatican’s printing press to improve communication capabilities. Presentations have
grown steadily since then. In 2015, the Board of Trustees allocated $15 million in
grants and scholarships, the largest annual gift in our history. The Foundation’s
total support for the work of the Holy See now exceeds $113.1 million.
Six years ago, a family foundation approached The Papal Foundation for assistance
in funding organizations that care for the poor and needy in God’s name.
Together, we established the “Doing Small Things with Great Love” Mission Fund.
The Mission Fund supports Mother Teresa and Sisters of Mercy projects such as
caring for abandoned orphans in Kenya, assisting Syrian refugees in Lebanon, and
building homes in Haiti.
2
Stories of Transformation
Grants from The Papal Foundation have
delivered hope, care, and assurance of
God’s mercy to so many.
MOSES HAS A NEW HOME!
Poverty, illness, and desperation sends
tiny abandoned babies to the House of
Charity Children’s Home in Nairobi, Kenya.
With a grant from the Foundation that
provides food, medical attention, clothing,
and shelter, little ones begin to thrive, and
soon are ready for adoption. The Sisters
and their dedicated staff received their first
child in March of 2014 and now have 21
babies in their care.
COMMUNICATING GOD’S LOVE
TO A MODERN WORLD
The tools and technology we use to share
our faith have changed dramatically since
1988. Our first grant helped the Vatican
refurbish its printing press. Foundation
grants since then have funded upgrades
for Vatican radio, television, satellite
communications, and web-based news
sites. A grant in 2015 will assist in creating
the Vatican’s Strategic Communications
Office and bring all media capabilities into
one coordinated effort.
RELIEF FROM RELENTLESS WAR
Families separated. Husbands and fathers
gone to serve in the army. Food, gasoline,
clothing and education disappearing.
Such is life in the small community of
Storozyniec, Ukraine. A grant from the
Foundation to the Daughters of Charity
brought warm clothing, groceries and relief
to families left behind. Children also receive
formation and emotional respite through
retreats organized by the sisters.
A PLACE TO WORSHIP AT LAST
The Redemptoris Mater Seminary
opened in 2008 to provide formation
for missionary priests to carry the New
Evangelization throughout South America.
The buildings were in disrepair, and
renovation has been slow. This year a
grant from the Foundation provided the
funds to build a chapel where seminarians
can worship the Lord together.
3
Preparing Leaders
to Share Christ’s Love
S
aint John Paul II dreamed of having the ability to provide scholarships
for seminarians, priests, religious sisters and brothers, and laity from
disadvantaged countries to study in Rome. A generous gift in 1998 from
John and Carol Saeman of Denver, Colorado, matched with money from the
Foundation, made the Saint John Paul II Scholarship Fund a reality.
Men and women come from Vietnam, Tanzania, Iraq, Honduras, Poland and
many other countries to study in Rome and prepare for an expanded role in the
formation and education of future generations. Many would never have been able
to complete this journey without scholarship support.
“The mission is important, but it is also
important to form those for the mission,
form the passion of proclamation,
the passion for going wherever, in every
periphery, to tell everyone about
the love of Jesus Christ…”
— Pope Francis
In 2015, 94 candidates from 30 countries received Saint John Paul II scholarships.
A large group of this year’s Saeman Scholars gathered to welcome members of the
Foundation’s annual pilgrimage to Rome at the opening reception. To date, the
Foundation has provided $8.3 million for 923 students to earn advanced degrees
that prepare them to extend God’s mercy in their home communities.
4
Returning Home to Serve
FATHER SAMER SORESHOW YOHANNA
NOW TEACHES OTHERS
Father Samer came from Iraq as a
Saeman Scholar to finish his Doctorate
in 2014. Now he has returned to teach
in his home seminary and help promote
theological studies. The Chaldean Synod
has appointed him Rector of Babel College
for Philosophy & Theology in Ankawa
Erbil. “The JPII Scholarship gave me the
time needed for full time immersion in
research,” he reflects. “I was able, in a
considerably short time, to finish my
dissertation, defend it and publish it.
God bless you all.”
SISTER FLORENCE KABALA
RETURNS TO THE YOUTH OF KENYA
Sister Florence is in the midst of
completing her doctorate in Sacred
Theology of Marriage and Family at the
John Paul II Institute in Rome. This
Saeman Scholar is not waiting until
she has earned her degree to share
the Gospel with others. During the
summer months she returns to Kenya
to teach seminars and lead retreats
for families and youth. “Thanks to
the Papal Foundation for giving me
the wings of knowledge for life to
serve the Church by forming authentic
Christian families, youth and the laity
today,” she says.
5
A Retrospective: 1990 through 2015
SEMINARIES
CHURCHES,
CATHEDRALS,
CHAPELS
216 received funding
for construction,
reconstruction, repair,
and restoration.
SCHOOLS
133 received funding for
construction, purchase
of land, reconstruction,
repairs, renovations,
subsidies for operating
costs, salaries, purchase
of books, computers,
desks, and washing
machines.
133
HOSPITALS, NURSING
FACILITIES, HEALTH
CENTERS AND
DISPENSARIES
49 received funding
for construction,
renovation, repairs,
subsidies for operating
costs, health care
programs, training for
medical personnel and
the purchase of
medical equipment.
6
216
121 received funding
for construction,
reconstruction,
renovation, repairs,
subsidies for operating
costs, formation,
transportation,
purchase of furniture,
laundry and kitchen
equipment.
121
49
CONVENTS,
RECTORIES,
MONASTERIES,
RETREAT HOUSES
253 received funding
for construction,
restoration, renovation,
repairs furnishings
and subsidies for
formation initiatives.
253
DIOCESAN ASSISTANCE
153
153 received funding
for Pastoral Centers,
Catechetical and
Spirituality Centers,
homes for the elderly, and
other facilities. Subsidies
to purchase land, reduce
debt, and general
administration.
EDUCATION AND
CATECHESIS
42
195
COMMUNICATIONS
42 received funding to
subsidize upgrades to
Vatican Radio, Vatican
Television, and Vatican
satellite communications.
For the development of
a web based Catholic
News Agency, News.va
single portal. Subsidy
for the development
of the Strategic
Communications Office
of the Vatican that
will combine radio, tv,
press, web, etc. into one
office. Also a subsidy to
“robotize” the Vatican
telescope.
182
195 received funding for
program development,
research and support
for Pro Life, Human
Reproduction, Religious
Education, Formation,
Evangelization, Religious
Sciences, Marriage and
the Family, Parenting, Lay
Apostolate Work, Religious
Education, Technical
training, Medical training,
language skills, libraries.
HUMANITARIAN
OTHER
182 received funding for
human rights, defense of
the poor and vulnerable,
victims of natural
disasters, refugees and
migrants, healthcare,
drug rehabilitation.
Ministry to: orphaned
and abandoned children,
the homeless, disabled,
imprisoned, elderly, sick,
marginalized, and those
with HIV/AIDS, and
Malaria.
52 grants funded special
projects from refurbishing
the Vatican printing press
to digitizing manuscripts
for the Vatican Library.
Subsidies for events
including Synods,
Congresses, Conferences,
Symposiums, Fourth
World Meeting of Families,
and International Catholic
Migration Commission
meetings.
52
Total giving: 1,431 grants and $113.1 million
7
A Blend of Faith
and Expertise
T
he Papal Foundation would not exist without the dedication and
commitment of our Stewards of Saint Peter. These men and women
have stepped forward with faith, energy and financial resources to create
and manage the endowment that sustains the work of the Foundation. As the
group has grown from two, to six, to well over one hundred donors, so has the
realization that this is more than a financial agreement. Each new class of Stewards
is welcomed into a family, bound together by the love of God and a desire to build
His kingdom.
In 2015, nine new Stewards became
part of The Papal Foundation family.
Each one brings unique experience
and perspectives that support the
Foundation and its service to the
Successors of Saint Peter.
“We contribute to a better world only
by personally doing good now, with
full commitment and wherever we
have the opportunity…”
Since 1990, Stewards have traveled to
— Pope Benedict XVI
Rome each year to meet with the Holy
Father, present their gift, and receive
his blessing. There they also enjoy faceto-face time with current scholarship recipients and see the day-to-day life of the
international Church at work. In December, the Stewards gather in Washington,
DC, to conduct Foundation business, hear from leaders of the U.S. Catholic
Church, and meet representatives from the Holy See.
8
A Commitment with Many Benefits
“WE’RE ALL BENEFICIARIES
OF THIS EFFORT!”
Bud Hansen remembers the Foundation
from its earliest days. As the only
remaining layperson from the original
steering committee, he tells the story
enthusiastically. When the Foundation set
a goal of creating a $100 million dollar
endowment, many were skeptical. “We’re
now at $250 million, and I believe we
will someday reach $1 billion,” he says.
“It is very satisfying to see us grow and
flourish because now the Holy Father has
the resources he needs to help those who
come to him for aid.”
A NEW WORLD PERSPECTIVE
When Niall Gannon became a Steward in
2012 he was not a newcomer to Christian
service. He and his family have been deeply
involved in building a rural health center in
Kenya. Niall reflects that being a Steward
“has confirmed my initial suspicion that
we’re just one of the world’s families. We
cannot assess the needs on our own. We
got involved with The Papal Foundation
because the Holy Father has the vision and
the system to deliver our resources where
they are most needed.” His continued work
in Kenya allows him to see the results. A
grant to the health clinic was only the seed.
Local people are now taking the lead—
delivering babies safely, testing thousands
for glaucoma, caring patiently for neighbors
with HIV/AIDS and so much more.
A WAY TO EVANGELIZE
Dr. Tammy Tenaglia is just completing her
first year as a Steward. Her commitment
to the Foundation seemed to her to be
a natural next step. She has been active
locally with the Catholic Foundation and
learned about the Foundation’s work
through other Stewards who were attending
Napa Institute meetings last year. Their
description of the Foundation’s close
alignment with the Holy Father resonated
with Dr. Tenaglia and her husband
Dr. Nicholas Tenaglia. “Giving to the
Foundation is more secure, and I appreciate
the accountability it provides,” she reflects.
“This is a way to keep the Catholic faith
visible and engaged throughout the world,”
she continues, “and that’s a priority for us.”
9
Statement of Financial Position
June 30, 2015 and 2014
(in thousands)
ASSETS
Cash and cash equivalents
2015
$
Contributions receivable, net of allowance and discounts of $3,405 in 2015 and $5,857 in 2014
Accrued investment income
Investments, at fair value
Cash surrender value of life insurance
Other assets
Total assets
L I AB I L I TI ES A ND NET AS S ETS
Liabilities
Accounts payable and accrued expenses
Line of credit
Total liabilities
Net Assets
Unrestricted - Board Designated
Total liabilities and net assets
$
$
$
6,472 2014
$
19,233
24,139
20,444
189 178
183,218
179,223
1,321 1,565
74 215,413 28 6,250 $
$
74
220,717
50
6,950
6,278
7,000
209,135 213,717
215,413 $
220,717
The accompanying Statement of Financial Position and Statement of Activities as of and for the year ended June 30,
2015, are excerpted from the annual audit of the Foundation’s financial statements. The complete report including the
Independent Auditors’ Unqualified Opinion and notes to the financial statements can be obtained from the Foundation
by contacting Francis X. Connell, CFO at 150 Monument Rd., Bala Cynwyd, PA 19004
10
Statement of Activities
Years Ended June 30, 2015 and 2014
(in thousands)
20152014
Revenues
Contributions
New Stewards
$
9,000 $
6,970
Other
1,263 737
Total Contributions
10,263 7,707
Investment income
Interest and dividend income
Net unrealized and realized gains (losses)
on investments, net of fees
Total investment income
Total revenues
2,998 3,315
(1,439)
22,863
1,559 26,178
11,822
33,885
Expenses
Compensation
656 684
Professional fees
197 211
Interest
161 200
Office expenses
153 214
Insurance
111 163
Rome pilgrimage
74 120
Washington dinner
32 29
Travel
36 34
Committee meetings and other
2
2
Total expenses
1,422 1,657
Grants Made
Papal grants
14,373 9,468
Scholarship aid
609 637
Total grants made
14,982 10,105
Excess (deficiency)of revenues over expenses and grants made and change in net assets
(4,582)
22,123
Net Assets, Beginning of Year
213,717 191,594
Net Assets, End of Year
$ 209,135
$ 213,717
11
Stewards of Saint Peter
12
Robert* and Josephine Abplanalp
Henry Amoroso
Mark and Nancy Bauman
Arthur and Gaye Birtcher
Edward and Laura Blatchford
Geoffrey and Norinne Boisi
Catherine and Joseph Bortle
Joseph and Bertha Braddock
William and Donna Bradt
Douglas Brown
Henry and Janne Burdick
Timothy and Steph Busch
Joseph and Sue Ellen Canizaro
Camille Cebelak
James* and Barbara Cleary
William* and Margot Connell
The Conrad Hilton Foundation
Kathy S. Craft
Glenn and Mary Jane Creamer
Edward and Lorraine Creamer
Michael and Margaret Crofton
John and Rosemary Croghan
William and Doris* Davis
James and Jacqulyn Davis
William and Mary Ann DeMucci
Anthony and Christie deNicola
Judy Rauenhorst Doerr
Charles and Helen Dolan
Dixon and Carol Doll
John and Rhodora Donahue
William and Kay Doré
Roma Downey and Mark Burnett
Benjamin and Mary Frances
Doskocil
Charles and Shirley Drury
Wanda Drury
L. B. and Bonnie Eckelkamp
David and Lisa Fischer
Richard and Barbara Fisher
James* and Marilyn Fitzgerald
Thomas* and Charlotte Flatley
Patricia A. Flatley
Brian and Bernice Follett
John and Claire Foster
Deacon David* and Mary Fox
Eugene and Mary Frey
Arthur* and Barbara Fritz
Niall and Gretchen Gannon
Philip and Amy Goldman
Eugene and Lisa Goodmaster
Kenneth and Leitner Greiner
Robert and Jean Gryzmala
Charles and Ellen Haas
Frank and Sally Hanna
Bud and Eileen Hansen
Daniel and Marianne Harrington
Ralph and Grace* Hauenstein
Robert and Mary Sue Hawk
David and June Hayford
Michael Hayford
Warren and Marylou* Hayford
Warren and Beverly Hayford
Warren and Mary Hayford
Paul* and Barbara Henkels
John and Jean Henkels
Paul and Carol Hill
Dave and Margie Hunter
Erica John
S. Michael and Lynn Joseph
Paul and Paulette Kardos
Frank and Susan Kavanaugh
Gerald and Margaret Kazma
John and Nancy Kennedy
Ken and Karen Kenworthy
Gloria LaGrassa
Paul and Lynn Lawless
Deacon George and Marilyn
Loegering
James and Ann Longon
Susan Luciu
Frank and Patricia Lynch
The Lynch Foundation
Timothy and Julia Maguire
Burt and Allyson Martin
John and Mari Ann Martin
Dr. Rocco and Barbara Martino
Theodore Cardinal McCarrick
Richard and Peggy Ann
McClintock
Richard and Mary Pat McCormick
John and Margaret McNeice
Eustace and Susanne Mita
Thomas and Marjorie Monaghan
Michael and Rita Mooney
Wayne and Diana Murdy
New Stewards indicated in green
*deceased
Gerald and Mary Jane Murray
Robert and Berni Neal
Joseph and Nancy Neuhoff
James and Louise Nolen
Jeremiah* and Joan O’Connor
Owen O’Malley
James and Mary Perry
Joseph and Mary Beth Philipp
Joseph and Loretta Rauenhorst
Mark and Karen Rauenhorst
Michael and Margaret
Rauenhorst
Neil and Becky Rauenhorst
Antonio and Suzanne Rea
Ruby S. Rinker
Jerry Robinson
Craig and Shelly Saeman
John and Carol Saeman
Duke Saeman
Francis and Celestine* Sehn
Mike and Mary Sue Shannon
Joseph and Rosemary
Shaughnessy
Catherine Shaw
Chuck and Roberta Shaw
Milann Siegfried
Dr. Christopher* and Patricia
Smith
Margaret Stine
Lee and Kelly Styslinger
Michael and Shari Sullivan
Thomas and Glory Sullivan
Drs. Nicholas and Tammy
Tenaglia
Dr. Richard and Adelle Toussaint
Benigno and Teresita Trigo
Timothy and Lynn Trout
Jeff and Susan Turner
R. Scott and Lannette Turicchi
Eduardo Verástegui
Mark and Christine Wittman
Bill and Cindy Wirene
J. Eustace and Marjorie
Wolfington
Carol Woodard
Theodore Zeller
10 Anonymous Stewards of
Saint Peter
Board of Trustees
A
two-tiered Board of Trustees manages The Papal Foundation funds.
American Cardinals who reside in the United States serve as ex-officio
members of the Board. Archbishops, Bishops and elected laity from across
the country serve as Trustees.
M EMB ERS
TRU S TEES
Donald Cardinal Wuerl
Chairman
Archbishop of Washington
Most Reverend Jose H. Gomez
Archbishop of Los Angeles
Daniel Cardinal DiNardo
Archbishop
of Galveston-Houston
Most Reverend Michael J.
Bransfield
President
Bishop of Wheeling-Charleston
Timothy Cardinal Dolan
Archbishop of New York
Most Reverend Kevin J. Farrell
Bishop of Dallas
Roger Cardinal Mahony
Archbishop Emeritus
of Los Angeles
Most Reverend Richard F. Stika
Bishop of Knoxville
Adam Cardinal Maida
Archbishop Emeritus
of Detroit
Theodore Cardinal McCarrick
Archbishop Emeritus
of Washington
Sean Patrick Cardinal O’Malley
Archbishop of Boston
Justin Cardinal Rigali
Archbishop Emeritus
of Philadelphia
Most Reverend David A. Zubik
Bishop of Pittsburgh
Timothy R. Busch
Irvine, CA
Frank J. Hanna
Atlanta, GA
Elmer F. Hansen Jr.
Treasurer
Blue Bell, PA
James Longon
Flourtown, PA
Patricia Lynch
Edwards, CO
Judy Rauenhorst Doerr
Mequon, WI
Eustace Mita
Media, PA
Wayne W. Murdy
Cherry Hills Village, CO
James A. Nolen III
Berwyn, PA
Carol Saeman
Denver, CO
J. Eustace Wolfington
Bryn Mawr, PA
S TA FF
James V. Coffey, M.A.
Vice President for Advancement
Francis X. Connell
Chief Financial Officer
Jane A. Schnatz
Office Manager/
Program Support
Ann Schnatz
Administrative/
Program Support
150 Monument Road, Suite 609
Bala Cynwyd, PA 19004
610-535-6340
[email protected]
www.thepapalfoundation.org