Four Roman Catholic parishes in Davenport, Bettendorf and Iowa City will contribute nearly $3 million to the diocese's $37 million bankruptcy settlement with victims of clergy sexual abuse.The churches are: Sacred Heart Cathedral, Davenport, $1 million; St. Anthony Church, Davenport, $1 million; Our Lady of Lourdes, Bettendorf, undetermined gift; and St. Mary, Iowa City, $650,000, Diocese Spokesman Deacon David Montgomery said today.
The diocese announced in masses on Feb. 1 that the four parishes would contribute $2.9 million to the global settlement, which protects the diocese, its parishes and schools from liability from past priest abuse.
These parishes had the most serious claims of clergy abuse and stood to lose the most if the diocese had not reached a financial settlement, the diocese has said.
The diocese declined to name the contributing parishes until all leaders had told parishioners. At least one of the four parishes, St. Mary's, announced their donations Sunday.
Other sources of funds for the $37 million settlement include:
$19.5 million from the diocese's insurance company, Travelers Insurance
$5.7 million cash on hand from diocese
$3.9 million from turning over the diocese headquarters to creditors
$3 million from the St. Vincent Home Corp., a diocese-affiliated organization that has a mission of helping children.
The Feb. 1 letter from Bishop Martin Amos said the diocese is still $2 million short of the $37 million goal and will likely have to borrow money.
"In the meantime, we are looking for other sources of income. Although we have not asked, some parishes have expressed interest in helping the Diocese to lessen the amount of money we need to borrow," Amos wrote.
The diocese also plans to announce a new fundraising campaign next year to restore diocesan funds to serve all the parishes, Amos said in the letter.
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