Sunday 22 October 2017

What each of the congregations has on its books

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.

Irish Independent

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