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Article: Hurricane Katrina and New Orleans Archdiocese.(United States)
- Article from:
- Catholic Insight
- Article date:
- December 1, 2005
CopyrightCOPYRIGHT 2005 Catholic Insight. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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New Orleans -- In the wake of Hurricane Katrina, at least half of the 300 priests of the Archdiocese of New Orleans were unaccounted for and most parishioners were scattered. The archdiocese is estimating a negative cash flow of $40 million by the end of 2005.
Insurance coverage for wind-related damage will provide for full replacement value, but the archdiocese, which also operates 104 schools, only has about $14 million in flood insurance. An assessment of archdiocesan buildings has indicated at least $84 million in flood damage, leaving a shortfall of over $70 million. Although the archdiocese kept all of its approximately 9,000 employees on full salary ...