Pursuits
God, Wall Street, and the New Push to Save U.S. Catholic Schools
- Donors include Protestants, Jews and at least one atheist
- `Prayer at the beginning and end of the day isn't enough'
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The financial world’s fingerprints are all over Boston’s St. John Paul II Catholic Academy. Tile floors gleam and lockers shine thanks to money raised by the likes of Bob Atchinson, co-founder of the hedge fund Adage Capital Management. Plaques outside classrooms highlight donors from Wellington Management Co., Convexity Capital Management and Merrill Lynch.
Wall Street’s commitment to inner-city Catholic schools goes back decades. But in major population centers like Boston, New York and Chicago, the alliance has taken a leap. Donors not only demand accountability for what they’ve given but also increasingly want to help run things, too, setting off new debate about the Catholic identity of Catholic schools.