As a pontifical organization, it is an official instrument of the Holy See and the pope.
While national director of TPMS-US in 2014, Small founded the New York-based nonprofit Missio Corp. and its private equity fund, MISIF LLC, under the umbrella of TPMS-US. They were separately incorporated in 2018.
After 10 years at the helm of TPMS-US, Small has been the temporary secretary of the Vatican’s Pontifical Commission for the Protection of Minors since 2021. He also continues to be president and CEO of Missio Corp., which runs Missio Invest, an impact investing fund providing financing to agribusinesses, health and education enterprises, and Church-run financial institutions in Africa.
The mission group’s new national director, Monsignor Kieran E. Harrington, and new board of directors have now written off $10.2 million of the total transferred as a loss since “there is no timeline and no guarantee of investment return,” according to its latest audited financial statement, AP reported.
“Management of the organization is diligently working to redeem the investment, however there is no timeline and no guarantee of investment return,” the financial statement says.
Small, in comments to AP, called the write-off of the investment “shortsighted” and said there is no reason to think there will not be a return on investment after the minimum 10-year commitment.
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