A $300 million fundraising campaign has been launched by the Roman Catholic Archdiocese of Chicago to help stabilize its finances, the Chicago Tribune reported Oct. 6.
The church has been spending about $1 million a month from its $65 million endowment to keep its parishes and schools operating.
The archdiocese hopes to raise $100 million from private donors and $200 million from local parishes over the next two years.
Parishes would keep 80 percent of the money raised, and the remaining 20 percent would go to the archdiocese for needy parishes and schools.
The archdiocese wants to avoid the closing of parishes and schools that took place in 1990, the Tribune said.
Funds raised privately will be used to support the school system, which requires the most funding.
For full story, go to the Chicago Tribune.