Catholic Financial announced in December 2020 that Borgen would take over leadership of the organization following the retirement of Bill O’Toole. That succession plan was completed earlier this year, making Borgen president and CEO in January.
As a fraternal benefits society, Catholic Financial Life is a 501(c)(8) nonprofit that serves customers — considered member-owners of the organization — who share a common bond. In Catholic Financial’s case, it’s the Catholic faith.
“We are aligned in the things we care about, similar values and the types of things that we support charitably and philanthropically,” Borgen said.