Catholic Church Creates $3.2 Billion Health Foundation From Fidelis Sale

The Catholic Church recently announced the creation of a $3.2 billion health foundation, which will serve as the largest charity to focus solely on the state of New York. The foundation comes as the result of proceeds received from the sale of Fidelis Care, the church’s nonprofit health plan.

The new charity will go by the name of the Mother cabrina Health Foundation, and will contain 12 board members who come from backgrounds such as health care, finance, and philanthropy. Leading the board will be Al Kelly, CEO of Visa. According to statements from Cardinal Timothy Dolan—who . . .