Knights of Columbus Announce $185.7 Million Donated to Charity in 2018
Organization is committed to bettering the world while building a bridge back to faith
NEW HAVEN, Conn., Aug. 1, 2019 /PRNewswire/ -- The Knights of Columbus, a 1.9 million-member Catholic fraternal and charitable organization, today announced that it gave $185.7 million to charity and donated 76.7 million hours of hands-on service in 2018.
Using Independent Sector's valuation of a volunteer hour for 2018--$25.43—the Knights' service hours came to $1.9 billion. Combining the value of this work with the year's monetary donations brings the total value of the Knights' charity to nearly $2.1 billion.
The Knights' charitable giving comes from three sources: direct fund raising, the funds raised by thousands of local Knights councils in their communities and from the Knights' insurance operations.
"Regardless of how or who the Knights serve, it's the chance to help those who are unable to help themselves and to be of assistance to the sick or disabled that is at the heart of what being a Knight is all about," said Knights of Columbus Supreme Knight Carl A. Anderson.
How the Knights Do It: Fundraisers, a 501(c)(3), Community Service, and Insurance
K of C Councils
The Knights' charitable activity is carried out by more than 16,000 councils in nine countries, which raise funds for a variety of causes, including efforts to protect and provide relief to persecuted Christians, pro-life initiatives and disaster aid and recovery. Council members also donate volunteer time to helping their parishes, communities, and organizations such as Special Olympics and Habitat for Humanity, as well as Knights-specific efforts such as "Coats for Kids," "Food for Families," and scholarship programs.
Knights of Columbus councils raise money through a broad spectrum of activities that include pancake breakfasts, raffles, auctions, tank pulls, rodeos, and its well-known Tootsie Roll drives. Others who benefit from these efforts include local pregnancy support centers, seminarians and veterans and service members seeking healing on the Knights' annual pilgrimage to Lourdes with the U.S. Military Archdiocese.
Anderson said, "The men who choose to become Knights of Columbus are generous, and their impact is immense. While we are known mainly for our local efforts, our reach is global."
He added, "At the same time, the Knights help men improve their own lives by offering opportunities to give of themselves and to support other members and their families through shared faith and spiritual development. Additionally, we offer men the chance to protect the financial well-being of their families through our insurance products. These are the reasons that men choose to become Knights."
Knights of Columbus Charities
Knights of Columbus Charities, Inc. is the organization's 501(c)(3) entity, which enables members and others to contribute to local, regional, national, and international Knights of Columbus charitable initiatives. One hundred percent of all donations go directly to support the cause identified by the donor.
Knights of Columbus Insurance
Knights of Columbus Insurance sells a portfolio of insurance and annuities products to its members—an outgrowth of a system of support instituted by Venerable Father J. McGivney in 1882 when he founded the Knights to help families in the event of the loss of a breadwinner.
The highly rated Fortune 1000 insurance company has a force of 1,207 agents who are also Knights. Once the company's revenue is used to cover operational costs and refunds (dividends) to our members, the remaining profits are directed to charity.
Over the last business year, Knights of Columbus Insurance issued $8.6 billion of new life insurance, provided $1 billion in benefits, including $441 million in death benefits and $262 million in refunds to members.
Anderson noted, "Our insurance program is a financial engine that not only helps our members protect their families but also provides the opportunity to give generously and support numerous charitable and spiritual causes."
About the Knights of Columbus
The Knights of Columbus is a fraternity of Catholic men striving to better themselves and our world by building a bridge back to faith, assisting the sick and disabled, and protecting those who can't protect themselves--whether they are next door or around the world.
The Knights' nearly two million members come from many places, backgrounds and stages in their lives but share a commitment to investing their time, efforts and resources in activities that reflect their faith and values.
The Knights of Columbus is also a top-rated Fortune 1000 insurance company, which grew out of the Knights' founding in 1882 by Venerable Father Michael J. McGivney who sought to ensure the protection and care of members' families. For more information, visit www.kofc.org.
SOURCE Knights of Columbus
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