Friday, January 10, 2020

Josh Saul Lays Out Church Asset Shielding Strategies in Bloomberg Business Week



The fight to save Our Lady of Vilnius provided me with an education that most Roman Catholic parishioners never receive.  Here are the key nuts and bolts that came to light:

  • "Parish Trustee" is a corporate title, not an ecclesiastical one
  • Each parish in the archdiocese is a separate corporation
  • The corporate board for each member is composed of the Cardinal, the Vicar General, the Pastor and 2 lay trustees appointed by the Pastor.
  • The above allows the archdiocese to control assets that they do not own
In his 1/9/2020 piece Catholic Church Shields $2 Billion in Assets to Limit Abuse Payouts Josh Saul describes strategies that the Church employs to protect its assets.  Kudos for presenting information usually absent from articles about church closings and sales with such clarity.

The Catholic League's perpetually inflamed Bill Donohue identifies the above as an attack and offers his rebuttal/justification on Catholic News Service: Bloomberg Media Targets Catholic Church

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