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The Catholic Diocese of Arlington
The Catholic Diocese of Arlington, formed in 1974 from the Richmond Diocese, supports 70 parishes, 44 schools and 6 missions in Northern Virginia.
The Catholic Diocese of Arlington
The Catholic Diocese of Arlington, formed in 1974 from the Richmond Diocese, supports 70 parishes, 44 schools and 6 missions in Northern Virginia. Bishop Michael F. Burbidge has led the diocese since 2016, chairing the boards of both the corporate entity and its foundations. Paul Schott Stevens, former Investment Committee chair, helped set the investment policy alongside the diocesan Finance Council. The portfolio allocates across a mix of real estate, natural resources, and alternative investments. Holdings include the Chancery headquarters at 200 North Glebe Road, the mixed-use Boulevard VI project in Fairfax with The IDI Group Companies, and timber and energy real estate interests within the United States. Venture and buyout commitments flow through structured entities — the Catholic Investment Trust of Arlington (CITA) pools diocesan assets for institutional-grade investing, while the Diocesan Investment and Loan Fund provides internal liquidity and lending. Geographic exposure concentrates on Virginia, Loudoun County, and Spotsylvania County, with real assets such as the Holy Spirit Catholic Church property in Annandale and the St. Matthew church site. The investment office reports through the Finance Council, with Paul Schott Stevens providing continuity from his tenure as board member of Catholic Investment Services. The broader financial ecosystem includes Catholic Charities of the Diocese of Arlington, the Scholarship Foundation, and The Catholic Foundation of Arlington — vehicles that receive and deploy endowment-like capital for ministry. The diocese also maintains professional ties through the Catholic Business Network of Northern Virginia and the Consortium of Catholic Foundations, linking its investment staff to institutional peers. The diocese's dual structure — blending operating real estate development with long-term pooled investment trusts — is atypical for a regional Catholic entity. CITA functions as an internal asset manager, enabling co-investment-grade access to private markets while preserving direct control over mission-critical properties. Bishop Burbidge's consolidation of both the corporate and foundation boards unifies governance in a way that accelerates capital decisions across development projects and alternative commitments.
General information
Firm type
Endowment / Foundation
Year founded
1974
AUM
$200M (Altss estimate)
Location
Region
North America
Country
United States
City
Arlington
Corporate office
Arlington, VA, United States
Principals
Most Rev. Michael F. Burbidge
Bishop / Chairman of the Board
Paul Schott Stevens
Former Chair of the Investment Committee
Very Rev. Jamie R. Workman
Vicar General / Board Director, Catholic Foundation
Sector focus
Frequently asked questions
Who oversees investment decisions at the Diocese of Arlington?
The diocesan Finance Council and Investment Committee set policy and monitor performance. Paul Schott Stevens, former Investment Committee chair and a board member of Catholic Investment Services, provided institutional leadership for the investment framework. Day-to-day execution flows through the Catholic Investment Trust of Arlington (CITA) and supporting treasury staff.
How are the diocese's investment assets structured?
Assets sit in two primary pools. The Catholic Investment Trust of Arlington (CITA) serves as the main long-term investment vehicle, operating like a pooled endowment. The Diocesan Investment and Loan (DIAL) Fund provides internal lending and operating liquidity to parishes and schools. Directly held real estate — such as the Chancery headquarters and development parcels — stays on the corporate balance sheet.
Does the diocese invest directly in venture capital or private equity?
CITA makes commitments across venture, buyout, and natural resources. The investment strategy skips fund-of-fund structures in favor of direct allocations to alternative managers. Specific venture positions are not publicly disclosed, but the CITA trust structure gives the diocese the flexibility to commit like a small endowment.
What real estate does the diocese own outside of church properties?
The portfolio spans commercial, residential, land, and mixed-use holdings. The Boulevard VI project in Fairfax, developed with The IDI Group Companies, represents a significant mixed-use development. Other properties include the Oakland Farm estate in Loudoun County, the St. Matthew site in Spotsylvania County, and timber and energy real estate interests across the United States.
How is the investment office connected to the diocese's foundations?
Bishop Burbidge chairs both the diocesan corporation and The Catholic Foundation of Arlington, centralizing governance. The foundation and scholarship funds receive grants and endowments that are invested alongside diocesan assets, creating a consolidated investment pool under shared oversight.
What is the Catholic Investment Trust of Arlington (CITA)?
CITA is the diocese's internal pooled investment vehicle, designed to aggregate parish, school, and diocesan long-term reserves into a professionally managed portfolio. It functions as the primary conduit for commitments to venture, buyout, and natural resource strategies, separating mission-critical operating funds from growth-oriented capital.
Does the diocese disclose its total assets under management?
No. The diocese does not publicly report a consolidated AUM figure. Altss estimates the combined investment pools and directly held real estate at approximately $200 million based on known property holdings and trust scale.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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