Del. diocese looks to raise funds after bankruptcy
The Catholic Diocese of Wilmington is embarking on a major fundraising campaign, 18 months after emerging from bankruptcy.
The diocese on Friday announced a three-year campaign to raise funds for pensions, ministries and parish needs.
Officials said the campaign is designed to meet the needs created by a $77 million bankruptcy settlement with survivors of sexual abuse by pedophile priests. The diocese said the settlement drained its reserves and requires it to add $10 million to its lay employees' pension plan by the end of 2017.
Officials said money also is needed for health insurance for retired priests and various parish needs.
The diocese sought bankruptcy protection in 2009 on the eve of the first in a series of trials scheduled in lawsuits filed by alleged victims of priest abuse.
Copyright © Mar 11, 2014, WDEL/Delmarva Broadcasting Company. All Rights Reserved.
Advanced permission from Delmarva Broadcasting Company required for publication or rebroadcast.