Christian Brothers COMPANIES AND TRUSTS: The congregation in Ireland is associated with nine trusts and companies that have charitable status.
Two trusts are connected with the Marino Institute of Education, to which it contributed €3.2m in recent years.
In 2008, it transferred school property with an attributed value of €430m to the Edmund Rice Schools Trust Ltd. The Brothers contributed €3.5m to this.
It has given €14m to the UK charity the Edmund Rice Bicentennial Trust in recent years, and €6.2m to the Irish charity Edmund Rice International Heritage Centres Ltd.
PROPERTY: €159m is "encumbered" through covenants or third-party interests, such as playing fields licensed to schools.
€40.2m is in use as residential properties for the Brothers. €11.0m is in use as other ministry properties, including retreat centres and life centres.
Brothers of Charity
PROPERTY: Land and buildings include €102m of campus property licensed to Brothers of Charity Services Ireland Ltd (BCSI). A further €58m of non-campus-based property is licensed to BCSI.
The congregation also owns €3.1m of property in use by third parties, which cannot be realised in the short term. Land and buildings include €1.5m used as congregational accommodation.
The total capital and reserves of BCSI and its subsidiaries amounted to €21.4m at end of 2008.
Oblates of Mary Immaculate
PROPERTY: €8.5m is in use for mixed ministry and service provision. Property valued at €5.6m is used as residences for members.
Commitments to fund missions overseas are via the Oblate International Pastoral Fund (€12.4m) and the Mission Project Fund (€12.1m).
It committed €1.9m for local projects in the Belcamp/Darndale area and €3m to develop a School of Theology at Trinity College, Dublin.
The congregation has designated €5.7m for a building and property fund and €8.4m for its General Purposes Fund.
Presentation Brothers
COMPANIES AND TRUSTS:
In 2006, they established a limited company that has charitable status, the Presentation Brothers' Schools Trust, to which the congregation will lease its schools (value €21m) for 999 years.
Playing fields (value €6.3m) will be licensed to the company for use by the schools for as long as the schools exist.
PROPERTY: Of total land and buildings, €21m comprises schools, €6.3m relates to school playing fields and €6.6m refers to residences.
Sisters of Mercy
COMPANIES AND TRUSTS: Secondary schools transferred to Ceist/Educena -- a trust arrangement established three years ago by five congregations -- at a 2007 value of €412m.
PROPERTY: €412m relates to secondary schools in use, €256m to primary schools in use, €200m to residences in use for members of the congregation, €59m relates to a hospital in use, and €71m relates to property in use for the provision of other services (including non-transferring secondary schools).
Presentation Sisters
COMPANIES AND TRUSTS: The congregation has transferred its 36 secondary schools (at a 2007 valuation of €98m) to the Ceist/ Educena trust.
PROPERTY: Of total land and buildings, €218m is in schools (primary, secondary and play schools), €154m is in traditional convents and other residences in use and €11m relates to nursing homes.
Sisters of Charity
COMPANIES AND TRUSTS: Healthcare services are mostly provided via 10 separate companies.
PROPERTY: Of land and buildings, €207.2m relates to Ireland and €26m is overseas. Of total land and buildings in Ireland, €64m is in use as schools, €85m is in services properties, €53m in convents and €5m in administrative properties.
+++++++++++++++++++++++++++++++++++++++++++++
Disclaimer
No responsibility or liability shall attach itself to the CW Team or to the blogspot ‘Clerical Whispers’ for any or all of the articles placed here.
The placing of an article hereupon does not necessarily imply that the CW Team agree or accept the contents of the article as being necessarily factual in theology, dogma or otherwise.
CW Team
SIC: II