New $3.2 Billion Health Foundation to Focus on New York State

New $3.2 Billion Health Foundation to Focus on New York State

Cardinal Timothy Dolan, Archbishop of New York, and the Catholic Diocesan Bishops of New York State have announced the creation of the Mother Cabrini Health Foundation — which, with $3.2 billion in assets, will be the largest foundation focused solely on New York State.

Funded by the sale of assets from Fidelis Care to Centene Corporation (pending approval by the New York attorney general's office), the foundation is expected to award up to $150 million annually in support of efforts to improve the health and well-being of poor and underserved people across the state, including immigrants and other marginalized populations. The foundation is named after Sister Frances Xavier Cabrini (1850-1917), known as Mother Cabrini, a tireless advocate for immigrants and children and the founder of the Institute of the Missionary Sisters of the Sacred Heart of Jesus.

The foundation will be steered by a board of health experts, business leaders, and philanthropists chaired by Alfred F. Kelly, Jr., CEO of Visa. Board members include Robert M. Bennett, who has served as a director of the John R. Oishei Foundation, chancellor of the New York State Board of Regents, and president and CEO of the United Way of Buffalo and Erie County; Kathryn Connerton, president and CEO of Lourdes Hospital in Binghamton; Samuel A. DiPiazza, Jr., board chair of the Mayo Clinic; Laura L. Forese, executive vice president and COO of NewYork-Presbyterian; Stanley E. Grayson, who has served as president and COO of M.R. Beal & Co. and in senior positions in New York City government; Carla Harris, vice chair of global wealth management at Morgan Stanley; Catherine R. Kinney, a former president and co-COO of the New York Stock Exchange; Sister Pietrina Raccuglia, president and board chair of the Cabrini Mission Foundation; Kathryn Ruscitto, former president and CEO of St. Joseph's Health in Syracuse; Kevin Ryan, president and CEO of Covenant House; and Robert Unanue, president and CEO of Goya Foods. Additional foundation board members will be named in coming weeks.

"The Mother Cabrini Health Foundation, born of our Catholic tradition of healing for the sick and caring for the poor, will provide assistance to needy New Yorkers of every color, every religion, and every background," said Dolan. "Named for Frances Cabrini, the 'Patroness of Immigrants', and chaired by prominent New York businessman and philanthropic leader Al Kelly, the foundation will seek to transform the lives of underserved New Yorkers from all corners of the state and set a national model for addressing the health and wellness needs of low-income communities."

"Cardinal Dolan and New York Bishops Announce Mother Cabrini Health Foundation, the Largest Foundation Serving New Yorkers in Need." Catholic Dioceses of New York State Press Release 05/08/2018.