Crown jewels: Emeralds and diamonds among property of Archdiocese of Baltimore

BALTIMORE — Diamonds and emeralds, marble busts and oil paintings, sterling silver flatware and an ivory crucifix — these are just some of the things the Archdiocese of Baltimore possesses in its treasure chest of valuables.

The items, including rings, precious gemstones, gold and silver chains, and antique furniture, were disclosed as part of the archdiocese’s most recent court filing in its ongoing Chapter 11 bankruptcy. Attorneys for the church declined to provide a value for most of the items (they’re listed as collectibles), instead describing their value as “unknown.”

Among the possessions:

•A cross made of gold set with 36 emeralds.

•A gold ring set with an amethyst in the center surrounded by 28 diamonds.

•A locket with a profile of St. Peter surrounded by 16 sapphires and eight pearls.

The full list of collectibles spans 11 pages and is one of many insights into the finances and operations of the archdiocese.

Baltimore Archbishop William E. Lori, who is effectively the CEO of the archdiocese, opted to file for bankruptcy in late September ahead of a new law going into effect that removed the statute of limitations on lawsuits for people who’d been sexually abused as a child. The law, known as the Child Victims Act, also made it so people whose claims had previously been barred under the old law — most recently people had until age 38 to file a lawsuit for abuse that happened to them as a minor — could revive their claims.

The court filings also make it clear the archdiocese had considered bankruptcy for some time. Church officials paid various attorneys and consulting firms more than $750,000 over a one-year period for advice about how to handle a restructuring through the bankruptcy process, according to court records. Those payments include $150,000 to Baltimore firm Gallagher, Evelius and Jones, which effectively serves as the archdiocese’s in-house counsel.

The Maryland Attorney General’s Office released a report in April detailing the history of child sexual abuse within the archdiocese, identifying 156 clergy and lay people accused of abusing more than 600 victims. That report, coupled with the new law, drove the church to file for bankruptcy as a means to protect its assets and resolve all would-be lawsuits through the creditors process.

The church’s revenue so far this financial year, made up in large part by donations, also appears down. From July 1 to Oct. 31, the archdiocese reports about $27.4 million in revenue before expenses. If extrapolated through the rest of the financial calendar, total revenue would be down significantly from the $106 million the archdiocese reported in its most recent financial year.

A spokesman for the archdiocese did not immediately respond Thursday to a message seeking comment.

Although revenue is down, the archdiocese has significant land holdings and investments it can draw on, in addition to its collection of jewels and antiquities, to help pay the hundreds if not thousands of sexual abuse victims who are expected to bring claims. In its filing declaring bankruptcy, the archdiocese included a list of nearly 700 unnamed survivors for whom the church states it has addresses on file and who could bring claims against it during this process.

The archdiocese lists its total assets at more than $200 million, although that is likely an undercount. Properties are valued at what the archdiocese paid for them at the time of purchase and the collectibles — all the antiques and jewels — are not valued.

A message seeking comment about the archdiocese’s assets sent to the attorney representing the unsecured creditors’ committee, a group of abuse survivors who represent all victims who will bring claims during bankruptcy, was not immediately answered Wednesday.

Not including what it will pay victims, the archdiocese lists about $25 million in claims against it, most of which is for various vendors and administrative functions like payroll and retirement contributions.

A final settlement agreement between survivors and the archdiocese will take years to reach and will likely be tens of millions of dollars. As it stands now, the archdiocese has $2 million on hand in a sexual misconduct insurance trust, according to court records.

It is likely some property the archdiocese owns will have to be sold in order to fund any settlement. While the archdiocese effectively controls every parish and school in its borders, it has organized them into various LLCs in order to shield them from creditors. The buildings it does own include its downtown headquarters at 320 Cathedral St. Known as Catholic Center, the eight-story office building is valued at about $5.8 million by the church and is the most expensive property listed.

Also among the listed properties:

•A home in downtown Annapolis that serves as the headquarters for the Catholic Church’s lobbying arm, the Maryland Catholic Conference. Its listed value is $1.4 million.

•Archbishop Spalding High School in Severn.

•The John Carroll School in Bel Air.

The filings also reveal how much Lori is paid in annual salary. The archbishop made $68,250.33 before taxes from Oct. 1, 2022 to Sept. 29, 2023. A small amount, Lori’s needs are mostly provided for by the archdiocese, including housing.