Two days before the Doyle family wrote its first check to the University of Rhode Island to help pay off debt incurred by the Institute for International Sport, Katherine Doyle signed a mortgage deed that states she borrowed $298,000 from a family friend, using her family's second home in Newport, R.I., as collateral.
The mortgage deed, filed with the City of Newport, shows that Katherine Doyle, wife of the sports institute's executive director, Daniel Doyle Jr., borrowed the money from John "Jake" Erhard, of Boston, Mass.
The deed shows that Katherine Doyle is still the owner of the contemporary home at 34 East St. It also says she will pay Erhard back with interest.
Erhard could not be reached for comment Monday. The RDW Group, a Rhode Island public relations firm owned by Daniel Doyle's brother, said the Doyle family would have no comment.
Katherine Doyle purchased the 2,475-square-foot home for $530,000 in 2002. Its total assessed value is $572,800.
Last year, institute interns from Ireland stayed at the Newport home as they helped the nonprofit organization prepare for its World Scholar-Athlete Games and World Youth Peace Summit that were held for the first time at at the University of Hartford.
Katherine Doyle is also listed as the owner of the family's 2,913-square-foot home at 85 Foxcroft Road in West Hartford. Its total assessed value is $314,720.
The mortgage deed, which was signed Feb. 22, was signed as the institute faces financial problems. The institute has debt and is dealing with failed real estate ventures in North Carolina.
A report regarding a government audit over the institute's use of a $575,000 grant was also recently released by Rhode Island's acting state auditor. The report concluded that the institute could not show how it spent the grant money. A Rhode Island legislator forwarded the report to the Rhode Island State Police, which is now investigating the institute's finances.
The institute owns two buildings on the University of Rhode Island campus, and it owed the university $380,846, which included money URI advanced to the institute for Daniel Doyle Jr.'s salary.
A URI spokeswoman said the university recently received two checks from the Doyle family. One check was dated and delivered on Feb. 24 and was for $100,000; the other was for $280,846 and was dated and delivered March 29. Both checks have been deposited, and URI will consider the institute's debt paid when the checks clear.
Rhode Island State Police searched the institute's buildings at URI on Feb. 22, and they searched the Doyles' West Hartford home last week. They removed boxes of records from both the Rhode Island buildings and Doyle's home.
Staff writer Kenneth R. Gosselin contributed to this story.
Family Of Sports Institute Director Mortgages Newport Home
Institute For International Sport Facing Debts, Failed Real Estate Ventures, Police Investigation
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