Anderson comments on K. of C. finances

Oct. 1, 2008 — The upheaval in the financial markets in recent days has caused a great deal of concern virtually everywhere, among financial services professionals, regulators and consumers alike. Every major financial institution has been affected by the turmoil because of the complexity of our economy, and we are no exception.

But I can report to you that there is no reason to be concerned about the value of your Knights of Columbus annuity or life insurance. Because of the very conservative approach we take to investing our $14 billion in assets, the impact on the Knights of Columbus has been far smaller than for many other organizations and the industry as a whole. By avoiding investments in the complex and speculative vehicles that are at the root of today’s problems, we greatly reduced the impact of the crisis on our operations. Instead, we have consistently relied upon high quality investments. Nevertheless, some of them have suffered losses. Yet the wisdom of that approach has been proven sound.

What Standard & Poor’s said of us in August when they reaffirmed our AAA rating for the 16th consecutive year remains true today. Our “liquidity is viewed as extremely strong, reflecting an asset portfolio that consists primarily of high-quality, investment grade bonds.” S&P also stated that our “investment portfolio has very strong credit quality” and our capital adequacy is “among the strongest in the industry.” This is the case today. Our capitalization is, and remains, “extremely strong.”

Our surplus stood at more than $1.7 billion on June 30 of this year, and it continues to provide an unusually large cushion of protection against turmoil of the sort we have seen in recent weeks.

While a final determination of the impact of the continuing financial crisis on our year-end financial statements cannot be calculated until early January, we are confident that our surplus will remain extremely strong and that our surplus ratio will continue to remain in excess of historic industry levels.

One crucial area continues to set us completely apart from those firms that have incurred enormous debt. We have no debt on our balance sheet. Our strong cash flows make it unnecessary for us to borrow funds at all.

As a result, our financial condition remains extremely strong, and you can be certain that you are fully protected by one of the strongest and most reliable insurance programs in the world.

— Supreme Knight Carl A. Anderson

Annual charitable-giving tally released

June 6, 2008 — The Knights of Columbus announced that its 1.75 million members set records for charitable giving and volunteer service hours last year. Supreme Knight Carl A. Anderson released the results of the survey in a speech to state deputies and members of the board of directors, presented this evening in New Haven, Conn.

The results of the Order's Annual Survey of Fraternal Activity for the year ending December 31, 2007, show that the organization's contributions to charity reached $144,911,781, exceeding the previous year's total by more than $1 million. The figure includes $31,235,220 donated by the Supreme Council and $113,676,561 in charitable donations from state and local councils, Fourth Degree assemblies, and Squires circles.

The survey also shows that the number of volunteer hours reported by Knights for charitable causes grew to 68,695,768 hours, up more than 400,000 hours from 2006. There were 393,030 Knights of Columbus blood donors during the year, and Knights made more than 5.5 million visits to the sick and bereaved.

Over the past decade, the Knights of Columbus has given nearly $1.28 billion to charity and provided in excess of 612 million hours of volunteer service in support of charitable causes.

Knights to collect and retire damaged flags

June 2, 2008 — Laramie, Wyo. — Local members of the Knights of Columbus are collecting worn and damaged American flags, which will be respectfully disposed of in a private ceremony on Flag Day, June 14, 2008. Disposal will be done in accordance with U.S. Federal Code Title 4, Chapter 1, Section 8(k), which stipulates that an American flag should be "destroyed in a dignified way" when it is "no longer a fitting emblem for display."

The project is being spearheaded by the Fourth Degree Knights of Columbus in Monsignor George A. Stoll Assembly 2872, with the assistance of other area organizations, including American Legion Post 14 and the Knights of Columbus at St. Laurence O'Toole Council 2720 and at University of Wyoming Council 10773.

E-mail YourFlag@gmail.com to arrange to have your flag(s) picked up from your Laramie home or business. If you're outside the immediate area, you may mail your flag(s) to Your Flag, PO BOX 1492, LARAMIE WY 82073–1492. Any flags received too late for the June 14 ceremony will be held for a future one.

For more information, visit www.YourFlag.blogspot.com.

Catholic hero Irena Sendler, 98, dies

May 12, 2008 — Irena Sendler, Polish nurse, passed away today at the age of 98. Watch this video tribute to a modern saint.

‘Blessed’ Cardinal Newman?

April 23, 2008 — Reports, which began circulating the Internet today, indicate that the beatification of Cardinal John Henry Newman may be imminent, likely in 2008. The Vatican has not yet issued a public statement on the matter.

Societies, clubs, and centers named in honor of Newman are scattered at university and college campuses around the world, including St. Paul's Newman Center at the University of Wyoming, home to Council 10773.

With beatification, the pope bestows the title "Blessed" on an individual, following Vatican confirmation of a miracle attributed to his or her intercession. An additional miracle is required before canonization, which comes with the title "Saint."

Update — April 30, 2008 — Unconfirmed reports of a scheduled beatification continue to circulate, but no statement on the topic has been issued by the Vatican. The earliest mention of the matter appears in the April 21 issue of the Birmingham Mail, a British newspaper, which does not cite its source.

Catch Pat Korten’s latest podcast

Listen to the latest official Knights of Columbus podcast, below, or check out some of the recently archived ones that you may have missed. Programs like these are produced about once a week by Pat Korten, right, the Supreme Council's vice president for communications. (Send him feedback.) Each episode typically runs about 5 minutes.

His latest podcast:
► Fourth Degree Knights welcome pope

Recently archived:
► Soldier-Knights’ deeds showcased
► Anderson explains new book
► AIDS relief bill hijacked

If you subscribe to the Kii feed, then you will receive Korten's future podcasts within a revised version of this article. If you want to automatically download only the MP3 files (without the article), subscribe to them here.

Pope Benedict visits the United States

April 15–20, 2008 — For continuous coverage of the pope's current visit to America, go to www.papaltrip.org, a site sponsored by the Knights of Columbus.

Pope addresses U.S. believers and nonbelievers

April 8, 2008 — During a Vatican press conference this morning, Pope Benedict XVI addressed the American people by video. His remarks, which were delivered mainly in English and partially in Spanish, are transcribed below.

Dear brothers and sisters in the United States of America: The grace and peace of God our Father and the Lord Jesus Christ be with all of you! In just a few days from now, I shall begin my apostolic visit to your beloved country. Before setting off, I would like to offer you a heartfelt greeting and an invitation to prayer. Read more»