Diocese of Paterson

Ultimate authority rests with Bishop Kevin J. Sweeney, who governs the diocese's temporal goods in consultation with the diocesan finance council as required by canon law. Day-to-day treasury management is handled by CFO Patrick Brennan. The diocese does not employ a dedicated chief investment officer or internal investment staff.

The Mission Diocese Fund, LLC is a pooled investment vehicle managed by the Catholic Extension Society, a Chicago-based papal society. The Diocese of Paterson is a participating investor. The fund provides mission dioceses access to a diversified, professionally managed portfolio that a single small or mid-sized diocese could not replicate in-house. The diocese's commitment size is not publicly disclosed.

Beyond parish churches and rectories, the diocese holds a mix of income-producing and surplus properties. These include the Diocesan Center in Clifton, the Nazareth Village residential facility in Chester, Calvary Cemetery in Paterson, and several former school sites including the Neumann Prep property in Wayne and the former Paterson Catholic High School site. The Paterson Catholic site was listed for sale publicly in mid-2023.

Yes. In addition to its direct real estate portfolio, the diocese invests through pooled fund structures like the Mission Diocese Fund managed by Catholic Extension. These vehicles hold traditional asset classes including equities and fixed income. The diocese has also shown exploratory interest in digital assets, though no specific allocation is known to have been made.

All financial administration follows the Code of Canon Law, which requires the bishop to establish a finance council of at least three members of the faithful. The United States Conference of Catholic Bishops publishes socially responsible investment guidelines that the diocese is expected to follow, imposing ethical constraints on sectors such as weapons manufacturing, abortion-related enterprises, and predatory lending.

Catholic Charities, Diocese of Paterson operates as a separate 501(c)(3) corporation with its own board and financial administration, though the bishop is the appointing authority. The Diocesan Catholic Education Trust similarly maintains its own structure. The diocese's general investment portfolio does not directly commingle with the operating cash of these affiliated charitable entities.

The diocese's assets originate from contributions made by generations of Catholic parishioners across Passaic, Morris, and Sussex counties, as well as bequests, diocesan capital campaigns, and accumulated investment returns. Established in 1937 from territory split from the Archdiocese of Newark, the diocese's real property includes both donated parcels and purchased sites acquired to support educational and pastoral missions.