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Likelihood of Diocese Bankruptcy Prompts Questions for Other Catholic Nonprofits

By Tracey Drury
Buffalo Business First
February 11, 2020

https://www.bizjournals.com/buffalo/news/2020/02/11/likelihood-of-diocese-bankruptcy-prompts-catholic.html

With a bankruptcy filing expected soon by the Catholic Diocese of Buffalo, other Catholic-based local nonprofits find themselves working to preserve donors and their financial position by highlighting their independent status.

The likelihood of bankruptcy was cited in a financial report by the Central Administrative Offices of the Diocese and posted in the February edition of the Western New York Catholic newsletter. Itís tied to the hundreds of lawsuits filed in the wake of a state law that opened a window for past victims of sexual assault to sue for damages.

But though they were also founded on Catholic ideals and itís part of their name, Catholic Health and Catholic Charities of Buffalo are not legally or financially tied to the diocese and will be unaffected by a bankruptcy filing. Still, confusion remains for donors, especially those from other states where such programs are often part of the local diocese.

 

 

 

 

 




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