On June 13, 2025, Catholic Charities of New York had the honor of ringing the Opening Bell at the New York Stock Exchange, marking the official relaunch of the Cardinal’s Committee for Charity. This renewed philanthropic initiative supports our Second Century Fund and strengthens our mission to serve New Yorkers in need.
The day began with a breakfast reception and opening remarks from our Executive Director, Monsignor Kevin Sullivan, who opened by grounding Catholic Charities’ mission in the vision of Pope Leo XIV.
“If I may borrow a major theme from Pope Leo’s recent talk that he gave to his ambassadors from all the countries in the world,” Monsignor Sullivan said, “it was to build bridges in defense of the poor and human dignity.”
He emphasized that this call to action is deeply aligned with Catholic Charities’ work across New York.
“Catholic Charities continues to affirm our work to build bridges of healing, to defend the poor,” he said. “We reinforce and raise up our bridges with the businesses, the firms, the corporation and their central role in building a society that provides solid, fair and just security.”
He also highlighted a major milestone ahead:
“Within two weeks, we’re going to break ground on 200 new affordable housing units next to where that video was shot in Washington Heights this summer.”
Monsignor Sullivan concluded with a heartfelt invitation:
“We need you… to join in the work of building a society that is more compassionate, a society that gives back.”
Following his remarks, Maria Morris, Vice Chair of Catholic Charities NY’s Board of Trustees, hosted a fireside chat with Mike Pyle, Deputy Head of the Portfolio Management Group at BlackRock. Their discussion explored global market forces, monetary policy, economic opportunity, and the impact of Artificial Intelligence on the economy.
When Ms. Morris asked Mr. Pyle for his views on the economy and recession concerns, he pointed to both near-term challenges and inherent structural strengths:
“There are barriers to international trade and investments. [They] may have long-term benefits for the U.S. economy and the manufacturing capacity. But in the short term, they’re going to cause prices to be higher on your list. They are probably including some debt—things that the U.S. needs in the global financial system, including the dollar.”
He acknowledged recent pressure on the dollar, while emphasizing the resiliency of the American economy:
“The dollar—things are down—probably going to be okay…And yet, at the same time, the U.S. economy is the most dynamic, is the most innovative, and it’s the most resilient. The dollar … has built up over eight decades. The Treasury market is built up over 200 years. So in the middle of the global financial system, it’s not going anywhere.”
Before the bell ringing, His Eminence Cardinal Timothy Dolan offered a reflection on faith and stewardship:
“God gives us gifts and talents and resources… and He wants us to invest those resources so that we give back to Him and to His people.”
The Bible speaks about stewardship, which is simply a biblical word for investment. That’s what you’re doing here today.
As part of that investment in our future, we are proud to relaunch a vital force behind supporting our mission—The Cardinal’s Committee for Charity. First established nearly a century ago, the Committee brings together top business and civic leaders to support Catholic Charities’ highest-impact initiatives.
The Committee is co-chaired by:
- Jeffrey S. Sanders, Vice Chairman & Co-Managing Partner for the CEO and Board Practice, Heidrick & Struggles Inc.
- Daniel Dunay, Chief Operating Officer, Global Product Solutions, BlackRock
- Marco Achón, Global Head of Corporate Banking, Santander
- Elizabeth Velez, President, Velez Organization
With their leadership, the Committee will help advance our most critical priorities, including:
- Stabilizing and developing affordable housing
- Providing nutritious food to individuals and families in need
- Supporting those living with mental illness
- Welcoming and integrating immigrants and refugees
- Responding to natural disasters and local emergencies
Watch below the bell ringing:
We are deeply grateful to Lynn Martin, President of the NYSE Group, and to the New York Stock Exchange for hosting us, and to all those who continue to stand with us in building a stronger, more compassionate New York for all.
