Archdiocese list of assets tops more than $240-million

Asset filing runs 2,000 pages
Photo credit Getty_Images_legacy1995

The New Orleans Archdiocese has listed more than $240,000,000 dollars in assets against $139,000,000 liabilities. 

Though the Church has a healthy amount of assets against debts, the diocese is facing scores of lawsuits from child sexual abuse claims that could take a multitude of years to settle. 

The list of assets filed in Federal Court runs 2,000 pages.   

The Times-Picayune/New Orleans Advocate  says the list shows Hancock-Whitney Bank as being owed $37,000,000.  These are state facility bonds which the church used to rebuild after Hurricane Katrina. 

Another $10,000,000 is owed for the St. Anthony Gardens, the Covington senior living project which has become a costly money loser for the archdiocese. 

Even FEMA has an $834,740 claim against the diocese. 

Other claimants’ breakdown the thousands of bills owed by the diocese, right down to vendors like Entergy for electricity and other responsibilities involved in day-to-day operation owed by the diocese. 

The diocese is also owed $2,000,000 from the BP oil spill settlement and received $5,500,000 in coronavirus stimulus loans. 

The sprawling document filed by the diocese lists numerous artifacts as seemingly small as candlestick holders and stained glass in St. Louis Cathedral under a section described as “Artifacts.” 

This list goes on to include such items as statues, paintings dating back centuries, and crucifixes. 

The value of these items are listed as undetermined.

Meanwhile, Fitch Ratings lowered the diocese bond rating after the bankruptcy filing. 

In the listing the diocese is reported to have a favorable amount of net assets valued as $81,000,000 and almost $160,000,000 in marketable securities.