The Spiritan order has revealed congressional assets worth more than €57 million, as it deals with hundreds of allegations of sexual abuse in its schools.
The disclosure comes as the order faces the prospect of a wave of new legal claims being made against it over abuse committed on children by priests.
About 70 people have come forward to make complaints since an RTÉ documentary was broadcast three weeks ago on the abuse of two Dublin brothers in the 1970s by priests at Blackrock College, Dublin.
The new complaints brought the number of allegations to 300. The order has faced about 100 legal actions – 15 of them active – and has apologised for serious failings that led to the abuse of children who could have been protected if action was taken sooner against perpetrators.
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It paid out €5.4 million between 2004 and 2021 to settle 80 cases of abuse committed between the 1950s and the mid-1990s. With new legal actions in prospect, data shows the Spiritans retain control over significant real estate and financial assets.
The €57.2 million in congressional assets are in addition to €107.4 million in “restricted” assets reserved for education, meaning the Spiritans control €164.63 million in net assets.
Such assets were declared by the Congregation of the Holy Spirit to the Charities Regulator, which publishes summary financial data online but not the full annual accounts.
The Irish Times asked the Spiritans for the most recent and prior annual accounts but the order declined. Still, it provided some additional detail by breaking down the aggregate value of separate asset classes.
The restricted assets reflect the value in August 2021 of school properties at Blackrock College, its feeder school Willow Park, and other Dublin schools such as St Mary’s in Rathmines, St Michael’s in Ailesbury Road and Templeogue College. They also include Rockwell College, Co Tipperary, and restricted bank accounts.
The €57.2 million in unrestricted reserves “are considered congregational reserves”, the order said in reply to questions.
“A total of €56,097,297 is supported by fixed assets including land, buildings, motor vehicles and equipment. The remaining unrestricted assets of €1,113,984 represent the net position on bank balances, accruals, prepayments, investments, bank borrowings and other liabilities.”
The value of unrestricted assets – €66.14 million in 2016 – was down €8.9 million in five years. All land and buildings were carried “on the basis of a current use valuation” in 2014.
