Educating seminarians and supporting retired priests
“ Our priests are our shepherds. They need the support of the people they serve. Developing new priests is crucial for the future of the Catholic Church…And we can thank our priests by helping them in their later years.” —Carol A. Peterson
A lifelong member and long-serving trustee of St. Matthew’s Parish in Cranston, Carol A. Peterson makes philanthropic commitments that are inspired by her faith and informed by her expertise.
In 2001, after retiring early as senior vice president of administration of FM Global, a Johnston-based mutual insurance company, Carol began a new career as a philanthropist. While making grants through her private foundation, she also supports grantees in such roles as board chair, trustee, and capital campaign manager. Carol has received numerous awards honoring her philanthropic leadership.
“The primary goal of my giving has been to support organizations that make a difference in the lives of children,” says Carol. “Some children are more vulnerable, with fewer advantages. All children deserve a chance for a good future.”
Carol has also been a lifelong contributor to the annual Catholic Charity Appeal of the Diocese of Providence, recognizing that its ministries increase opportunities for struggling families. “As a co-chair and member of its budget panel,” says Carol, “I’ve seen closeup how its funds go to the right places and meet pressing needs in our community.”
In 2019, Carol responded to a request from the Grateful for God’s Providence Capital Campaign, commemorating the 150th anniversary of the Diocese of Providence, by pledging a six-figure bequest to the Catholic Foundation of Rhode Island. Upon her death, her bequest will benefit two Foundation ministries that she ardently supports: the education of seminarians and the care of retired priests.
“Our priests are our shepherds,” says Carol. “They need the support of the people they serve. A seminarian’s education costs a lot. Many who are called to the priesthood come from families of limited means. Developing new priests is crucial for the future of the Catholic Church and for the survival of parishes. And few priests, as they retire and reach old age, have the resources to take care of themselves. We can thank our priests by helping them in their later years.”
Reverend Eugene R. Lessard, ordained 1959. Father remains active in assisting at local parishes during his retirement.
A member of the Foundation’s St. Katharine Drexel Society, Carol is an advocate of planned giving, which transforms her gift into a living legacy. “My gift will keep growing and giving long after I’m gone,” says Carol. “While its principal increases, its interest will benefit my chosen cause. I make a larger impact, longer—in perpetuity.
“I’m confident that the Foundation will designate these funds where I want them, enabling me to keep doing what I enjoy during my lifetime. Even after my death, I’ll be part of the future of my community.”
As a founding member of the Foundation’s new Leadership Council, Carol looks forward to spreading the joy she finds in planned giving to other parishioners. “With its array of services and ministries,” says Carol, “The Foundation has something for everyone. I want to spread the word.”