Years-long efforts by the Archdiocese of Philadelphia to decide on the future of St. Charles Borromeo Seminary hit the Wynnewood school’s bottom line in the year ended June 30, according to financial statements released in mid-December.

St. Charles Borromeo recorded $2.2 million in expenses related both to a study of the feasibility of moving the seminary to a local Catholic university and to the settlement of a lawsuit over the proposed sale of a portion of the seminary’s campus, writes Harold Brubaker for philly.com. 

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In May, the archdiocese and Neumann announced their agreement to pursue a potential deal that would have the seminary, formally known at the Philadelphia Theological Seminary of St. Charles Borromeo, move to the university’s campus or nearby. Those talks continue, a Neumann spokesman said.“With this matter settled, the seminary will now focus on continuing the process for the development of a sustainable model for the seminary, which would involve the sale of the Wynnewood campus and a potential affiliation with Neumann University,” spokesman Ken Gavin said Wednesday.

The seminary, which Archbishop Charles J. Chaput once called “the heart of our church in Philadelphia,” also recorded a $1.5 million write-down related to an earlier plan, announced in March 2013, to consolidate operations in older buildings on 30 acres at the back of the property at City and Lancaster Avenues.

Those expenses caused an overall $2.6 million loss in fiscal 2017, the seminary reported. Without them, the seminary’s bottom line would have been $1.1 million in the black.

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