In 2001, McCarrick established the Archbishop's Fund, which he continued to personally oversee during his retirement, only ceding control to Cardinal Donald Wuerl in June last year.
According to the Archdiocese of Washington, that fund was designated for McCarrick's personal "works of charity and other miscellaneous expenses."
McCarrick also sat on the board of numerous grant-making bodies during his time in office, at least two of which combined to donate more than $500,000 to his personal charitable fund. These included nine grants of $25,000 each from the Minnesota-based GHR Foundation designated for the "former archbishop's fund" or the "former archbishop's special fund," according to tax records.
The Virginia-based Loyola Foundation made grants of $20,000 - $40,000 per year to the archbishop's fund for at least a decade. According to the foundation, the sums were "specifically designated by Archbishop McCarrick" who as a trustee could allocate "limited discretionary grants" to qualified 501(c)(3) organizations.
While the archdiocese told CNA in August 2018 that the fund was audited annually and that "no irregularities were ever noticed," it would not confirm the balance of the fund at the time McCarrick turned over control, or how much money had passed through the fund over the years, or where it had gone.
McCarrick was known for producing sizable donations for projects and funds with which he was associated, including the Papal Foundation, as well as individual projects in dioceses around the world. At the same time, he was also well known for his more personal acts of generosity.
In September 2018, a cardinal who formerly served as a curial official recalled McCarrick's habit of doling out large sums, in cash, to senior officials in Rome.
"When he would visit Rome, Cardinal McCarrick was well-known for handing out envelopes of money to different bishops and cardinals around the curia to thank them for their work," the cardinal told CNA.
"Where these 'honoraria' came from or what they were for, exactly, was never clear – but many accepted them anyway."
Given that McCarrick has access to a private income, unconnected to the Church, it is unlikely that any of the three dioceses which he once led would put themselves forward to offer him additional support in the event he were laicized.
A spokesperson for the Diocese of Metuchen confirmed to CNA that McCarrick had not received a pension from the diocese but could not confirm if he drew a salary as bishop, citing diocesan files on salaries which only date back seven years.
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Both the Archdiocese of Newark and the Archdiocese of Washington declined to comment on McCarrick's private financial circumstances. A spokesman for the Archdiocese of Washington referred CNA to the archbishop's personal attorney.