Who We Are
History of Hope
In 1983, a group of dedicated individuals with a shared vision created the Catholic Foundation of Rhode Island (CFRI). Their goal was to establish a non-profit foundation that would serve to ensure long-term financial stability for charitable, religious, and educational institutions within the Catholic community of Rhode Island.
From its inception, CFRI has demonstrated its commitment to the values and principles of the Catholic faith. Recognizing the importance of responsible stewardship, CFRI has made significant decisions to invest its assets solely in socially and morally responsible funds, ensuring donors’ contributions are channeled into institutions that align with the teachings of the Catholic Church; this has enabled the foundation to grow steadily in size and scope.
Through disbursements from its endowed funds, some of the most notable first funds including the Anna B. Jalbert Memorial Endowment Fund, the Father Anthony I. Robinson Memorial Scholarship Fund, and the Frances Ward Endowment Fund, the foundation actively supports non-profit organizations that have made a lasting difference in local communities. These initiatives not only address immediate needs but also contribute to the corporal and spiritual work of the Catholic Church, ensuring that its mission continues to flourish throughout Rhode Island.
While CFRI has gained recognition for its commitment to Catholic philanthropy and ethical investment practices, it aspires to become a nationally recognized steward of Catholic giving. By maintaining strong business relationships and making investment decisions rooted in the principles of the faith, CFRI continues to serve as a model for responsible and impactful philanthropy.
Throughout its history, the Catholic Foundation of Rhode Island has remained faithful to its founding principles while adapting to the changing needs of the community it serves. As it looks towards the future, CFRI has committed to maintaining its legacy as a driving force behind positive change in Rhode Island, fostering growth and making a lasting impact on the lives of countless individuals through its charitable endeavors
Letter from the Chair
Michael M. Woody
Chairman
Greetings, welcome to the Catholic Foundation of Rhode Island’s website!
As Catholics, our faith compels us to be both charitable and hopeful for the future. Because the Catholic Foundation perpetually funds the charities supported by Rhode Island’s Catholics, it is an enduring testament to our donors’ faith, hope and charity in action.
And while it is true that we are one of the largest Catholic Foundations in the country and that our funds are invested in a faith-consistent manner, the Foundation is far more than simply a funding vehicle.
For Rhode Island Catholics, the Foundation is a repository of our collective desire to build the Kingdom of God by feeding the hungry, sheltering the homeless, educating young people in the Catholic faith, ensuring the vibrancy of our parishes, and encouraging vocations to the priesthood – not merely today, but for generations to come.
Established in a state whose motto is “Hope,” we call ourselves a Foundation of Hope. We witness our donors’ hope to better their community through philanthropy. And we witness grateful beneficiaries who are given hope through the Diocese of Providence’s ministries. We applaud the generosity of Rhode Island Catholics and are committed to helping fulfill their hopes and prayers for a better tomorrow.
May God bless you and your family!
Michael M. Woody
Chair, Board of Advisors
Catholic Foundation of Rhode Island
St. Katharine Drexel Society
The Saint Katharine Drexel Society honors donors who plan a future gift of any size to benefit a Catholic church, school, or other ministry in the Diocese of Providence. In addition to planned estate gifts, membership can also be gained by contributing a minimum of $10,000 in stock or cash to an existing endowed fund or creating one’s own endowed fund which enables charitable giving in perpetuity. The Foundation is grateful to donors whose planned giving does God’s work now and in the future. Membership in the Saint Katharine Drexel Society is one way the Foundation recognizes and thanks these donors for their generosity. Benefits of membership include:
• Satisfaction of making a difference
• Special invitations for prayer requests
• An annual Mass for your intentions
• Invitations to spiritual, educational, and community-building events
• Recognition in our annual report (or anonymity if requested)
• Occasional invitations to meet one-on-one with Foundation staff
If you have already planned a future gift to a Catholic cause in the Diocese of Providence, or would like to join the Saint Katharine Drexel Society, please contact us.
Born into one of America’s wealthiest families, Katharine Drexel was called by her faith to act on behalf of the marginalized, particularly Black and indigenous people. During an era of entrenched segregation, she gave much of her inheritance to found schools serving these communities, including an academy in New Orleans that soon became Xavier University of Louisiana, the only historically Black Catholic university in the United States.
Canonized in 2000, Saint Katharine Drexel also founded a religious order that continues her ministries, the Sisters of the Blessed Sacrament.
Corporation Officers
Most Reverend
Richard G. Henning, D.D., S.T.D.
Bishop of Providence
Diocese of Providence
Reverend Monsignor
Albert A. Kenney
Vicar General
Moderator of the Curia
Diocese of Providence
Reverend Timothy D. Reilly
Chancellor
Diocese of Providence
Reverend Monsignor
Raymond B. Bastia
Vicar for Planning and
Financial Services
Diocese of Providence
Michael F. Sabatino
Chief Financial Officer
Diocese of Providence
Board of Advisors
Reverend Monsignor
Raymond B. Bastia
ex officio
Vicar for Planning and Financial Services Diocese of Providence
Nicholas A. Denice, Esq., CPA
Board Vice-Chair
Corporate Attorney
Hinckley Allen
Michael Hogan
Managing Director
Cutler Capital Management
Kristin Kennedy, Ph.D
Chair of Mathematics
Retired
Bryant University
Paul Musarra, CFA, CAIA
Senior Vice President
Bank of America
Reverend Michael J. Najim
Pastor St. Pius X Parish
Westerly
Michael F. Sabatino, CPA
ex officio
Chief Financial Officer
Diocese of Providence
Elizabeth P. Santilli, Esq.
Partner Cutcliffe Archetto & Santilli
Reverend John P. Soares
Pastor St. Thomas Parish
Providence
Michael J. Speidel, CFA
Board Treasurer
Managing Director-Retired
Brown University
Investment Office
Joanne Speroni-Woody, CTF
Board Secretary
Vice President and Principal Trust Officer
Washington Trust Company
Katherine S. Sullivan
Senior Paraplanner
Retired
SK Wealth Management
Michael M. Woody
Board Chair
Chief Executive Officer
Trans-Tex LLC
Leadership Council
Reverend Monsignor
John J. Darcy
Retired
Karen G. DelPonte, J.D.
Partner
Cameron & Mittleman LLP
James C. Forte
President
JForte Company
Lawrence P. Gillheeney (Larry)
Advocacy Manager
Rhode Island Center for Freedom & Prosperity
James M. Hagerty
Commercial Lending Credit Advisor
Washington Trust Company
Carol A. Peterson
Senior Vice President of Human Resources-Retired
FM Global
Henry S. Monti, J.D.
Gemma Law Associates
Staff
Richard Popovic
Executive Director
401-277-2115
Evan Holguin
Assistant Director of Planned Giving
401-277-2117
Ashleigh Jones
Assistant Director
Marketing and Communications
401-277-2170
Natalie Mack
Information Specialist
401-278-4583