I will regularly get questions about the physical and financial aspects of our parish, which I am always happy to answer. And it is my intention to keep parishioners up-to-date via the bulletin, but I have not been doing a good job recently. So let me try to fill you in.
Financial
In case you missed our Annual Report, our 2021-2022 income was $1,165,838 ($1,062,357 was ordinary income, $103,481 was restricted to a specific ministry or purpose), while our expenses were $1,070,044. The net income was $95,794, but note that some of our income was restricted, so not all of our surplus is usable except for specific items.
As of August 31[1], we have $1,155,044 in our bank accounts, of which $344,513 is restricted to a specific ministry or purpose. This means we have approximately $800,000 of actual savings in our savings account, most of which is residual from the sale of the Ellis St. properties. We have no debt.
Regarding income this year, as of Nov. 27 we have collected $415,488, which compares to $394,800 at this time last year (105%). In a normal year, this is where we would want to be, as it represents steady giving accounting for annual inflation (with inflation this year, though, who knows?). Of course, we always want to see an increase in giving relative to inflation, as that grows our ability to hire staff or take on new initiatives, but the best financial growth strategy (as well as the fulfillment of our mission to save souls) is increasing people in the pews, not wringing the people we have dry. Given that our Mass attendance is down about 25% from pre-COVID numbers, even staying steady relative to inflation is a minor miracle and a huge testament to the generosity and dedication of our parishioners.
Physical
Finding contractors is getting better, but remains very difficult, so actual projects have been slow lately. The two recent highlights are that we tuckpointed the office building (repaired the brick mortar, to keeps the bricks in place) and we replaced the furnace for the church gathering space, bathrooms, and chapel (which had failed last January, but took until October to get shipped and installed). Thank you to the families who stepped up and donated when we asked for help for the furnace! The tuckpointing cost $6,250 and the furnace cost $31,500.
Upcoming, we have recently received bids to replace the gym roof, which is necessary because of constant leaks along the length of the south wall and around the gas heaters. Given that previous roof repairs have been patches and covers, we are now at the point where we need to tear everything off down to the deck and start fresh. This also requires abating the asbestos in the original roof. All told, it looks like this will be a $600,000 project, which we will pay for out of savings. Because the school uses the gym often, they are hoping to contribute $100,000, from last year’s auction fund-a-need plus some grants available to school building projects.
We are finding we only have the staff hours and volunteer support to handle one major project at a time. Once the gym roof is complete, we will turn our attention back to the church heating system. Though I still need to negotiate with our Buildings and Grounds committee on the details, it looks like the steam pipes themselves are still in good condition, but that the joints and traps are problematic. What we will likely do is tear up all of the flooring on both aisles (we tore up the south isle last year for certain repairs), abate as much asbestos as possible, and replace the flooring (my hope is back to the original wood, not carpet) with access hatches wherever there are joints that might need inspected or maintained. We currently have $93,130 in savings for this project from the Called to Serve as Christ campaign (this is part of the restricted balance, so it is in addition to the $800,000 in general savings).
Beyond the heating system/flooring, we are also going to be renovating our 1921 organ and making it playable from both upstairs and downstairs. A generous donor has given us $131,000 for this project (again, a restricted fund, so this is in addition to the $800,000 in general savings). Unfortunately, the primary organ restorer in the area is so incredibly slow in the business/contract side of his work that I sometimes despair this project will ever happen. We have been trying to scope this project with him for almost a year now. But, as you can imagine, it is a niche market, so we take what we can get.
Smaller projects include:
- When we cleaned out the basement of the church, we found a lot of water damage on the south foundation. We are checking and repairing all the downspouts and drains in the area to keep any more water from reaching the foundation. Ongoing.
- The rectory is still not where it needs to be. A few rooms need painted, the blinds need replaced, and the bathroom needs overhauled. Planning stages.
- After the gym roof, the church heating system, and the organ, our next major project will likely be something in the parish offices. Everything, from the boiler to the flooring, is outdated and scary, but the scariest part for me is the electrical system. Speculation / anxiety stages.
As much as I legitimately enjoy the small business administration side of being a pastor, it is good to remind myself and all of us that the financial and physical aspects of a parish exist for one purpose only, and that is to bring people to Jesus Christ. Having the money and buildings we need to do so effectively is a huge gift. Thank you for everything you do in this regard!
[1] Sorry, Karen and Julie are both out of the office and this is the last report in our shared files.
Fr. Moore 