Report: Boston Archdiocese’s Finances Have Stabilized

By Monica Brady-Myerov
WBUR
January 27, 2012

http://www.wbur.org/2012/01/26/boston-archdiocese-finances

The Roman Catholic Archdiocese of Boston says it’s no longer in “financial freefall.”

The finances of the archdiocese have stabilized, according to its annual report released Thursday. The church has a balanced budget and its assets have increased $31 million to $563 million. The increase is due primarily to investments.

Church collections increased 3 percent last year and the enrollment decline in Catholic schools has slowed to its lowest rate in 10 years.

The archdiocese also reports it spent $1.7 million last year to settle 23 legal claims arising from sexual abuse by clergy. The money came from real estate property sales, rental income and insurance funds.

Cardinal Sean O’Malley says the improvement in financial management has led to increased confidence among benefactors.