Who is managing these loser investments? Why aren’t they being called out?? Family friends or old parish friends of CCHD oversight bishops? What does the spokesperson get paid for if she just announces the pink slips and answers zero questions about root cause??
“After sixteen years of working on behalf of the poor and disenfranchised, Ralph recently made the decision to leave his position with the USCCB,” Noguchi said.
“Since this is a personnel matter, further detail will not be discussed at this time,” she added.
Dragging out his social media account in a comment box seems low. The investment portfolio didn't "tank" at least from what the article reports. The losses were just an aggravating factor along with lower contributions and increased outgoing grants.
Markets are slow. Inflation's up. Charitable giving is down as people have less to spend. The community organizations it funded were probably also being stretched and asking for more. It makes sense.
Except for the bit about having too much capital in 2022 and being told to distribute more. I haven't felt real optimistic since - well the 90's - but certainly wouldn't have thought of 2022 as particularly bullish.
$36 million on hand in 2019 to $8.5 million on hand in 2022 and the article merely mentions “while at the same time realizing investment losses”, and you’re citing external market conditions??
Thank God you do not manage my investments. And the first thing I check when anyone wants to manage 10’s of millions of dollars in a program, project, or portfolio, the first thing I check in the public domain is credentials. LinkedIn is a public source of credentials. If you don’t want to show them don’t create a profile there… Is “meh” your attitude toward all problems and accountability or your initials?
It's a grant giving organization. Their goal is to give money away. It isn't like they were managing pensions. Most reporting, the Pillar's included, seem more focused on closing the CCHD and not on where the money goes.
I'm not an expert on church financial scandals but I'm pretty sure Ed and JD are, though they don't seem to see it. Maybe you'd like to reach out and lend them your expertise.
I know it's a comm box but I'm just asking for a modicum of charity here. A linkedIn profile may be public record but it's generally understood to be poor manners to drag it out here and make accusations about someone who's not exactly a public figure. You need less screen time.
Fair enough. I worked 40 years in the private sector. Progress in geological time windows and outcome orientation I am now learning are not good fits for my volunteer efforts in retirement. Thanks for clarifying 🙏 ☮️
Given the angst in the headlines lately I'm not sure what I was expecting. They had 23 staffers before the layoffs? And now they have 16? It sounds like they went from having not a lot of people to having not a lot of people.
It's like hearing someone complain about their tomato harvest being wiped out by a bad storm and you think "oh no that poor tomato farmer" but then you find out he only had like three tomato plants growing in some pots behind his house and he lost one of them.
Also 23 people represented a "significant portion" of the people working at the USCCB?!
What strikes me is the lack of agility in the organization. Things were great in and they were directed to do a spend down. Come 2020 with the pandemic, the fund raising fell off significantly yet they kept spending well beyond what they had for the next 3 years and the investment income fell. Surely that didn't go unnoticed. Who was making the decision to continue over spending? Was it a committee of bishops or department leadership. Either way, management didn't react to chasing conditions fast enough. Where else in the USCCB does the inability to make decisions and react quickly to changing conditions exist? The world as a whole has changed and lumbering organizations will struggle. This seems to me to be a warning sign to revamp how decisions are made and the organization is managed on the whole before it risks collapse on itself.
As a grant giving organization, it would seem like the time to give would be in times like the pandemic when organizations desperately needed money. And despite overspending, there were nevertheless reserve funds that could be dipped into.
No wonder former Chicago priests Abp. Listecki and BP. Paprocki and MAGA BISHOPS want education to become the focus & prerequisite for CCHD assistance. The Chicago public schools system has completely failed.
Who is managing these loser investments? Why aren’t they being called out?? Family friends or old parish friends of CCHD oversight bishops? What does the spokesperson get paid for if she just announces the pink slips and answers zero questions about root cause??
nfirmed to The Pillar Monday.
“After sixteen years of working on behalf of the poor and disenfranchised, Ralph recently made the decision to leave his position with the USCCB,” Noguchi said.
“Since this is a personnel matter, further detail will not be discussed at this time,” she added.
Dragging out his social media account in a comment box seems low. The investment portfolio didn't "tank" at least from what the article reports. The losses were just an aggravating factor along with lower contributions and increased outgoing grants.
Markets are slow. Inflation's up. Charitable giving is down as people have less to spend. The community organizations it funded were probably also being stretched and asking for more. It makes sense.
Except for the bit about having too much capital in 2022 and being told to distribute more. I haven't felt real optimistic since - well the 90's - but certainly wouldn't have thought of 2022 as particularly bullish.
$36 million on hand in 2019 to $8.5 million on hand in 2022 and the article merely mentions “while at the same time realizing investment losses”, and you’re citing external market conditions??
Thank God you do not manage my investments. And the first thing I check when anyone wants to manage 10’s of millions of dollars in a program, project, or portfolio, the first thing I check in the public domain is credentials. LinkedIn is a public source of credentials. If you don’t want to show them don’t create a profile there… Is “meh” your attitude toward all problems and accountability or your initials?
It's a grant giving organization. Their goal is to give money away. It isn't like they were managing pensions. Most reporting, the Pillar's included, seem more focused on closing the CCHD and not on where the money goes.
I'm not an expert on church financial scandals but I'm pretty sure Ed and JD are, though they don't seem to see it. Maybe you'd like to reach out and lend them your expertise.
I know it's a comm box but I'm just asking for a modicum of charity here. A linkedIn profile may be public record but it's generally understood to be poor manners to drag it out here and make accusations about someone who's not exactly a public figure. You need less screen time.
Fair enough. I worked 40 years in the private sector. Progress in geological time windows and outcome orientation I am now learning are not good fits for my volunteer efforts in retirement. Thanks for clarifying 🙏 ☮️
Given the angst in the headlines lately I'm not sure what I was expecting. They had 23 staffers before the layoffs? And now they have 16? It sounds like they went from having not a lot of people to having not a lot of people.
It's like hearing someone complain about their tomato harvest being wiped out by a bad storm and you think "oh no that poor tomato farmer" but then you find out he only had like three tomato plants growing in some pots behind his house and he lost one of them.
Also 23 people represented a "significant portion" of the people working at the USCCB?!
I have not read the article yet, but can you please use fewer acronyms, especially in the title?
I know they are very fashionable, but they make reading very difficult indeed.
What strikes me is the lack of agility in the organization. Things were great in and they were directed to do a spend down. Come 2020 with the pandemic, the fund raising fell off significantly yet they kept spending well beyond what they had for the next 3 years and the investment income fell. Surely that didn't go unnoticed. Who was making the decision to continue over spending? Was it a committee of bishops or department leadership. Either way, management didn't react to chasing conditions fast enough. Where else in the USCCB does the inability to make decisions and react quickly to changing conditions exist? The world as a whole has changed and lumbering organizations will struggle. This seems to me to be a warning sign to revamp how decisions are made and the organization is managed on the whole before it risks collapse on itself.
I suspect Bp. Paprocki and others with their hatchets out here will choose tomorrow not to preach about Reading 2
2 Cor 8:7, 9, 13-15…
As a grant giving organization, it would seem like the time to give would be in times like the pandemic when organizations desperately needed money. And despite overspending, there were nevertheless reserve funds that could be dipped into.
The reserve funds are almost gone now and we're no longer in pandemic times. They need to live within their budget like everyone else.
No wonder former Chicago priests Abp. Listecki and BP. Paprocki and MAGA BISHOPS want education to become the focus & prerequisite for CCHD assistance. The Chicago public schools system has completely failed.
https://open.substack.com/pub/unskool/p/teachers-unions-are-ruining-schools?r=wflz8&utm_medium=ios
https://www.americamagazine.org/faith/2024/07/03/usccb-cuts-cchd-justice-peace-wester-248293