THE LOYOLA FOUNDATION, INC. - MILESTONES

Oct. 22, 1957 – The Loyola Foundation, Inc. is incorporated in the District of Columbia. The articles of incorporation state that the Foundation is created "exclusively for religious, charitable, scientific, literary, or educational purposes."

Oct. 16, 1958 – The first full Board of Trustees meeting is held in New York City. The Trustees approve initial sources of financing for the Foundation.

May 8, 1959 – A special meeting of the Board of Trustees in New York proposes and approves the first grant distributions, totaling $45,000.

Feb. 24, 1964 – The Loyola Foundation is granted tax exempt status by the Internal Revenue Service.

Nov. 30, 1964 – Mrs. Kathleen S. McCarthy, the wife of founder Albert G. McCarthy, Jr. is elected to the Board of Trustees.

June 30, 1966 – The Board of Trustees decides to make grants for specific overseas mission projects, rather than awarding more general grants for discretionary disbursement by organizations such as the Jesuit Mission Bureau. The Trustees also grant a request from Pope Paul VI to support a Christmas Eve satellite television broadcast from the Vatican.

April 14, 1975 – The Trustees resolve that ".. grants be mission-oriented; that [the Foundation] not contribute except in extraordinary instances to operating budgets; and that it make non-recurring grants primarily to overseas Catholic missionary activities."

Nov. 29, 1975 – Albert G. McCarthy, Jr., founder of the Loyola Foundation dies. One half of his estate is bequeathed to the Loyola Foundation. Mr. McCarthy had been the President of the Loyola Foundation since its founding.

Dec. 7, 1976 – At their annual Board meeting, the Trustees elect a new President, Mrs. Kathleen S. McCarthy. The Trustees award a special grant in honor of recently deceased Father William J. Mulcahy, S. J., one of the original Trustees. "The William J. Mulcahy, S.J. Scholarship" is established at Jesuit-run St. Peter's College in New Jersey.

July 14, 1977 – The Board welcomes two new Trustees, Kathleen P. McCarthy and Hilary A. Hattler. Ms. McCarthy and Ms. Hattler are grandchildren of Mr. and Mrs. Albert G. McCarthy, Jr. They are the first second generation family members of the Loyola Foundation Board of Trustees.

Dec. 9, 1978 – In honor of the Foundation's late founder Albert G. McCarthy, the Trustees approve a grant for the construction of a swimming pool at the Georgetown University Yates Field House.

Dec. 9, 1979 – In light of income from the estate of Albert G. McCarthy, Jr., Trustees consider increasing distribution amounts for several years. They also agree on an annual review of the Foundation's investment policy and philosophy.

Dec. 5, 1981 – The Trustee Finance committee, chaired by Mrs. Kathleen Denise Hattler, recommends that the Foundation change its financial advisor. Trustees increase the annual contribution to FADICA (Foundations and Donors Interested in Catholic Activities).

Dec. 10, 1982 – Trustees agree to maintain the size of grant requests between $5,000 and $10,000 and to not make any recurring grants. They vote to expand the Board.

June 4, 1983 – The Trustees adopt several amendments to the by-laws of the Loyola Foundation.

Dec. 10, 1983 – Bishop Theodore E. McCarrick [then ordinary of Metuchen, N.J.] offers a prayer in memory of Mrs. Kathleen S. McCarthy - the Foundation's President and spouse of founder A. G. McCarthy, Jr. - who died the previous evening. Her daughter, Mrs. Denise Hattler, is elected to succeed her as President.

Dec. 8, 1984 – Trustees appoint a committee to review grant application guidelines. They award a grant for the construction of a reading room at Marymount College in Virginia in memory of the late Trustee, Kathleen P. McCarthy.

June 7, 1985 – The grant guidelines committee reports on its findings and Trustees resolve that the guidelines will remain substantially the same. They also create the new position of Executive Director for the Foundation.

Dec. 7, 1985 – Albert G. McCarthy III is appointed as the Foundation's first Executive Director. Trustees establish a chair at Fordham University in honor of Father Lawrence J. McGinley, S.J. In memory of the late founder of the Christophers and original Foundation Trustee Father James Keller, M.M., they make a grant to The Christophers in support of children's television programming development.

June 6, 1986 – The Trustees congratulate Archbishop Theodore McCarrick on his appointment to the Archdiocese of Newark. Grants for fiscal 1986 include financial support for the Church of St. Ignatius Loyola in New York City in honor of their retiring pastor, Trustee Father Victor Yanitelli, S.J.

Dec. 7, 1986 – Trustees agree to consider grants up to $20,000, amounts considerably higher than has been customary. They agree to support FADICA and the Pontifical Pastoral Institute in their joint sponsorship of a Colloquium on Women in Church and Society in preparation for the 1987 Synod of Bishops.

June 6, 1987 – Eager for individual Trustees to personally inspect some of the projects funded by the Foundation, the Board approves trips to Africa by Trustee Kathleen Carr and to India by Judith Wise, the Foundation’s staff secretary. Trustees agree to cover some of the expenses of the September 1987 papal visit to the US and make a substantial contribution to the founding of Support Our Aging Religious (SOAR!).

June 11, 1988 – Trustees consider policies with regard to funding requests for vehicles, deciding to consider only one vehicle per diocese at grant-making sessions. They also decide that, to be considered, grant requests for vehicles costing more than $15,000 must have additional funding already in place.

Dec. 9, 1989 – Trustees note that distributions over the previous five years have exceeded IRS requirements. Trustee Kathleen D. H. Carr proposes that a special committee examine the Foundation's policy of maximizing grant distributions.

July 9, 1990 – The Board of Trustees approves the special committee's recommendation to allocate a portion of the Foundation's yearly income to an investment portfolio. The Trustees approve funding for the renovation of the Aula Magna (Great Hall) at Rome's Gregorian University.

Dec. 8, 1990 – In memory of Kathleen S. McCarthy, Trustees approve a special request to finance renovations at St. Ignatius Church in New York. They agree to participate in covering operational costs for an Eastern Europe program sponsored by the US Bishops.

June 5, 1993 – At a Board meeting dedicated to the memory of the late Trustee Father Victor J. Yanitelli, S.J, Mr. McCarthy III presents a report on his fact-finding mission to Lesotho and Swaziland. The Trustees decide to factor in the continually changing political landscape of Africa when they are considering grant requests.

Dec. 9, 1994 – Father Robert Fuhrman leads a morning retreat for the Board. Trustees re-examine the Foundation's grant-making policies.

July 19, 1997 – The 40th anniversary Board meeting of the Loyola Foundation is held in San Mateo, CA. To mark the anniversary, Trustees award a grant to contribute to the construction of Loyola Hospital in the Archdiocese of Bhubaneswar, Orissa State, India.

Dec. 12, 1998 – Archbishop McCarrick reports on his recent trip to China and Tibet. Trustees agree to help finance the expansion of the University of Scranton Retreat Center in Scranton, PA., as well as the expansion of facilities at Hogar Cuna San Cristobal in Puerto Rico.

June 26, 1999 – The Board discusses dioceses whose requests are no longer considered due to their lack of reporting on previously awarded grants. Archbishop McCarrick requests that the situation in these dioceses be continuously reviewed and that Trustees consider awarding grants to them again in future.

Dec. 11, 1999 – Trustees agree to assist in the construction of a new Jesuit residence at Georgetown University, naming a conference room at the residence in honor of original Trustee Paul R. Dean.

Dec. 9, 2000 – Trustees decide that Dioceses whose requests are currently not being considered to wait three years instead of two years before submitting grant requests again. Consideration of two requests from Indonesia is shelved pending an improvement of the country's political situation.

Dec. 8, 2001 – Trustees salute Archbishop Theodore McCarrick, now heading the Archdiocese of Washington, D.C., on being made a Cardinal. Foundation by-laws are amended to increase the maximum allowable number of Trustees. Trustees decide to contribute to a study of "Morality in the Media," sponsored by the Mary J. Donnelly Foundation.

June 26, 2004 – Ms. Kady Carr, great granddaughter of A.G. McCarthy, Jr., reports on a visit to Africa she made with her cousin Alex Pratt and other young representatives of FADICA member foundations. She stresses that the challenge for the next generation of missionaries in Africa is the development of strong leadership and the cultivation of a network of financial support.

June 25, 2005 – Trustees reconstituted the following subcommittees: a committee to recommend future Trustees; an Executive Committee; a Finance Committee; and a Grant Review Committee. New guidelines for diocesan grant requests are put in place, including the requirement that the local bishop's approval letter have an affixed seal and that dioceses include mention of Foundation grants received in the previous decade. Trustees approve funding for the Center for Church Management at Villanova University and the Hope for a Healthier Humanity in Honduras Foundation. They also agree to help cover costs for repairs and renovations at the New York City headquarters of the Catholic Medical Mission Board.

Dec. 10, 2005 – Mr. Albert G. McCarthy III retires as the Executive Director of Loyola Foundation. The Trustees elect A. Gregory McCarthy, IV as his successor. Trustees agree that future candidates for Board membership should include non-family members to ensure a balance between independent members and the descendants of A.G. McCarthy, Jr. Trustees approve an emergency grant to assist the Archdiocese of New Orleans.

Dec. 9, 2006 – New financial consultants are engaged to manage the Foundation's assets. Trustees endorse a recommendation by the Grant Review Committee that core grant-submission guidelines remain the same. A special committee is mandated to research and recommend proposals for up to five larger grant requests to mark the Foundation's 50th anniversary in 2007. A program providing psychiatric assistance to women religious at St. Luke's Institute in Silver Springs, MD, receives a special grant.

June 23, 2007 – Trustees vote to create a Foundation Website, and consider moving the Foundation to new headquarters. The Trustees consider and approve five candidates for receiving special grants made in honor of the Foundation's 50th anniversary: St. Joseph Preparatory School in Philadelphia; Cor Unum in Rome; St. Lwanga Girls' Training School in Uganda; Save Our Street Children Foundation Center in the Philippines; and the Protagonizer Foundation in Argentina.

Dec. 8, 2007 – The Trustees review their investment portfolio. In light of the currently volatile economy, the decision is made to closely monitor the portfolio's performance in the upcoming year. The Trustees approve a special grant for the construction of a new altar at St. Joseph's on Capitol Hill Church, made in honor of recently deceased former Executive Director Albert G. McCarthy III. That evening, the Foundation celebrates its 50th anniversary with a dinner at Georgetown University.

Dec. 13, 2008 – Trustees, following a discussion of the impact on the Foundation of the global financial crisis, decide to continue making as many grants as fiscally possible, while ensuring a healthy balance between the Foundation's original mission and future financial health. Mrs. Denise Hattler retires as President of the Foundation. Andrea M. Hattler Bramson is named as her successor. The Board approves the Foundation's move to new headquarters and agrees to a request from Holy Cross Abbey for the funding of an environmental sustainability study. Trustees honor the memory of original Trustee, Paul R. Dean with a grant to the Lawrence Dean Scholarship at Georgetown University Medical Center.

June 6, 2009 – With the global financial marketplace still in a fragile state, Trustees appoint a committee to conduct a due diligence search for new money managers. Trustees decide to revise the Foundation's investment policy statement.

Dec. 12, 2009 – The Board chooses new investment advisors and agrees upon a revised investment policy statement. Trustees adopt several new good governance policies in preparation for future changes in the Internal Revenue Service codes.


Historical Milestones
Loyola Hospital Archiocese of Cuttack-Bhubaneswar India
Historical Milestones
Archdiocesan office in Port au Prince Haiti.
Historical Milestones
Team of Little Sisters of the poor in Arusha Tanzania
Historical Milestones
Girls' Hostel at Sacred Heart Girls School Diocese of Khunti, India