Capital concerns Premium16 January 2014 | by Michael Sean Winters
Is the Pope discouraging major benefactors?
A leading American Catholic philanthropist has claimed that Pope Francis’ remarks in his recent apostolic exhortation about unbridled capitalism is discouraging big donors from giving to the Church. Others say they breathe new life into the home of institutionalised charity St Patrick’s Cathedral in New York City was, as Coadjutor Bishop Patrick Ryan of St Louis noted in his sermon when the cathedral was dedicated in 1879, built with the “pennies of the poor”. Now, 135 years later, in the middle of a renovation expected to cost US$180 million (£110m), fund-raising is still a subject of concern. Billionaire Ken Langone, founder of the hardware chain Home Depot and a big donor to Republican Party candidates, has been leading the fund-raising effort at St
Subscribe now and enjoy access to all parts of the tablet website, Including its 175 year archive...
Delivered to you each week
Read online / download on your iPad, iPhone, computer or Android device
For institutions: read online / download on your iPad, iPhone, computer or Android device. Email firstname.lastname@example.org for more information
Most Read Articles
Manage my subcription hereManage
Sign up for our newsletterSign Up