What Are We Worth: Economic History

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Being an historian requires detective work. One of the most inspiring sources of learning are the personal papers of a deceased Passionist. Prudence is necessary when examining documentation. History is always about life that people live.

At the same time I have learned that good history means going outside one’s initial interest. To understand the Passionists is more than biography, preaching, missions in China, the Philippines or Japan. It is more than saints, bishops and religious superiors. It is also more than influential laity. To me, these are the normal avenues of detective work. But every once and in while, celebrating 150 years of Passionist experience means one has to think differently. In this case the issue is economics.

What are the Passionists worth? What would an economic history of the Passionists in the United States tell us? Economic issues are still real today. Gas prices are almost a $2.00 a gallon and a majority of Passionists have their own cars. Even though many monasteries have closed, new ventures are opened. The bottom line is that all buildings are worth something.

Around Christmas 1998 I had the opportunity to examine the papers of Passionist Fr. Joe Leo Flynn of St. Paul of the Cross Province. Born in 1901, he professed his vows in 1927, was ordained in 1933 and died in 1998. He was one of the premier leaders of Catholic retreat movement in the United States and was the primary builder of Holy Family Monastery in West Hartford, Connecticut.

To allow us the grace to reflect on the wealth of the 50 years of experience as Passionists, and friends of the Passionists in the United States I enclose, in full a document I found in his personal papers. May it allow us to think of the larger relationship of gospel to buildings. It is a document that shows us the economic pulse of life in the Passionists over 50 years ago!!!

June 15th 1949 General Statement

ASSETS OF THE PASSIONIST FATHERS – EASTERN PROVINCE OF THE UNITED STATES

Provincial Headquarters – St. Michael’s Monastery, 1901 West Street, Union City, N.J.

As collateral for any loan which may be negotiated by the Provincial of the Eastern province, the principal assets of the Passionist Fathers are represented in the Monasteries, Churches and Lands associated with their various foundations in the Eastern section of the United States.

A list of the various properties owned by the Passionist Fathers of the Eastern Province is appended, together with an estimated value of the land, buildings, and contents.

Each foundation is incorporated according to the laws of the State in which it is stipulated, and has a local Superior. The only exception to this is the property owned at Shelter Island, N.Y., which is used as a Summer residence, and at Chelsea, N.Y. Both these places, together with property owned in Riverdale section of New York City, form one corporation.

It should be noted that all these foundations are under the immediate jurisdiction of a head Superior, called the Provincial, who resides in Union City, N.J. None of the foundations or corporations listed below may contract or make any loan without the approval of the Provincial and his Council. Furthermore, all houses are responsible for any loan made by the Provincial for the general welfare of the Province.

A few of the monasteries listed have some outstanding debts. These debts are not very great, however, and all are owed to the Provincial Corporation, whose legal title is St. Paul’s Benevolent, Educational and Missionary Institute of West Hoboken, New Jersey. These debts are listed among the Assets of the Provincial Corporation.

ASSETS OF PASSIONIST FATHERS, EASTERN PROVINCE OF THE U.S.A.

Estimated Value of Land, Buildings and Contents in the State of New York:

Monastery of the Immaculate Conception

178th Street & Wexford Terrace, Jamaica, N.Y……………………………………………. $1,625,000.00

Our Lady of the Isle (Corporation)

a. Shelter Island, Burns Av & Cockles Harbor…………………………………………………$105,000.00

b. Riverdale, Bl. Vincent Strambi Monastery

5801 Palisade Ave NY 63……………………………………………………………………………….$ 450,000.00

c. Chelsea, N.Y……………………………………………………………………………………………… $ 75,000.00

St. Mary’s Monastery, Dunkirk, N.Y……………………………………………………………..$ 200,000.00

Holy Cross Seminary, Lake Shore Road, Dunkirk,N.Y………………………………….$1,000,000.00

Holdings Outside N.Y. State

Provincial Corporation of St. Paul’s Benevolent, Educational and Missionary Institute

has Assets of………………………………………………………………………………………………$1,629,592.94

Liabilities, including Reserve Fund of ……………………..$845, 431.47………………..$1,236,245.62

……………………………………………………………………………………………………………………$ 393.347.32

Passionist Missions, Inc.

Good Will of THE SIGN Magazine………………………………………………………………..$ 650,000.00

St. Michael’s Monastery, Union City, N.J……………………………………………………..$2,996,206.64

St. Joseph’s Monastery 3800 Frederick Avenue, Baltimore, Maryland…………….$ 950,000.00

St. Gabriel’s Monastery, 159 Washington St. Brighton, 35, Massachusetts……..$1,250.000.00

St. Paul’s Monastery, Pittsburgh, Pa…………………………………………………………….$ 1,800,000.00

St. Ann’s Monastery, Scranton, Pa………………………………………………………………..$1,400,000.00

Mother of Sorrows Monastery, W. Springfield, Mass……………………………………..$1,850.000.00

………………………………………………………………………………………………………………….$11,289.563.96

Total Estimated Value of Present Holdings…………………………………………………$ 14,744,553.96

V. Rev Gabriel Gorman, C.P. Provincial

[As one can see many these properties are no longer owned by the Passionists. Others have had increased building. And many other present locations were to be built many years into the future]

Again, the question to ponder as we approach the 150th anniversary of the Passionists in the United States in 2002 is how would we write an economic history of Passionist experience?

Fr. Rob Carbonneau, C.P.
Historian and Director of The Passionist Historical Archives.
March 13, 2000

Please contact me at [email protected] if you have any comments.

Copyright Passionist Historical Archives 2001. All rights reserved. Permission of Archives needed for publication.

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