2021 FISCAL YEAR (JULY 1, 2020 – JUNE 30, 2021)

In a fiscal year that began with serious uncertainty about how our church’s finances would fare during
the pandemic, we now can confidently state that, with the grace of God, Ss. Peter & Paul emerged at
fiscal yearend financially stronger than anticipated. Overall, the bottom line shows yearend net income
of $62,600. Parishioners and friends stepped up to support our church, as revenue from weekly
offertory donations consistently exceeded budget and fundraising contributions surpassed our stated
goal. Operating expenses were managed within or near budget range in most categories, with
exceptions, and in total were well under budget. Here are key statistics and explanations:
REVENUE                ACTUAL            BUDGET                    DIFFERENCE VS. BUDGET
OFFERTORY           174,100              170,315                        3,785                2%
BEQUESTS              3,200                  –                                    3,200                —
STIPENDS               34,235                 53,400                        (19,165)            -36%
FUNDRAISING      77,763                 50,500                         27,263              54%
MISC INCOME       2,334                   3,300                          (966)                -29%
GRANTS                   50,891                 –                                    50,891              —
TOTAL                      342,523               277,515                       65,008             23%

Offertory. Parishioners and friends pivoted from making Sunday basket donations, precluded by the
closure of the church in March, 2020, to giving weekly by electronic means (Givelify and church website)
and regular mail. Even without our popular Christmas liturgy, we received contributions of $10,075
during the Christmas season, exceeding our goal. The Offertory total compared favorably to that of past
FY2020  $187,999               FY2019  $174,652
FY2018   $179,812               FY2017   $168,637
FY2016   $158,965               FY2015  $164,505
FY2014   $121,664               FY2013  $123,317

Wedding Stipends, traditionally a strong source of church revenue, declined significantly. The pandemic
led to cancelled weddings or delays well into 2021 and beyond.

Fundraising. Our inaugural GIVE Appeal was highly successful with donations of $167,990 – over twice
the amount of our $80,000 goal and the second largest total for a fundraiser since the 2015-16 fiscal
year. Of the total raised, (i) $15,562 was sent to the AOD to meet our CSA target; (ii) $77,658 was
allocated to our operating fund, reported under Fundraising above; and (iii) $74,770 went into our
Jesuit-held capital fund, reported below in the “Bottom Line” section.

Grants. SSPP qualified for and received two forgivable loans under the Paycheck Protection Program
(PPP) provisions of the CARES Act – federal legislation established to provide relief to many types of
entities, including churches, for employment costs incurred during the pandemic. SSPP’s first loan of
$50,891 was forgiven during the 2020-21 fiscal year. The loan proceeds are recognized as Grant income.
It is anticipated that the second PPP loan, in the same amount, will be forgiven in FY 2021-22.

EXPENSES                                    ACTUAL                     BUDGET                    DIFFERENCE VS. BUDGET
ADMINISTRATION                     132,522                       129,152                        3,370                3%
WORSHIP                                      105,088                       116,289                       (11,201)            -10%
EVANG/CHR SERVICE              20,592                         60,556                         (39,964)          -66%
PLANT                                             69,972                         68,685                         1,287                2%
AOD ASSESSEMENT                   15,993                          18,000                        (2,007)            -11%
CAPITAL                                         9,908                            –                                    9,908               – –
MISC                                                618                                –                                    618                    – –
TOTAL                                             354,693                        392,682                      (37,989)           -10%

Administration. Costs were slightly higher than expected largely due to (a) unplanned expenses for
special contracted services related to improving SSPP’s social media presence and launching the small
group initiative, and (b) greater costs for security system upgrades, janitorial services in the church
building when volunteer work was suspended during the pandemic, and mailing letters as part of a
special December appeal to parishioners and friends for yearend donations.

Evangelization/Christian Service. The Parish Life Director position has remained unfilled since October,
with wage and benefit savings that resulted in a $40,000 positive variance in Evangelization expenses.

Capital Expenses. In order to provide liturgies and to maintain parish community in the absence of
physical contact during the pandemic, SSPP made unplanned purchases of electronic items such as
livestream equipment and additional computer hardware and software.

Revenue                                                         342,523
Expenses                                                       (354,693)
Net Operating Income (Deficit)               (12,170)
GIVE Appeal in Capital Fund                    74,770
Overall Net Income                                     62,600

While our bottom line is positive as expressed here, it does not reflect significant repair costs the church
incurred for an aging exterior parapet wall and the adjacent roof. The total cost of related repairs, plus
maintenance of the entire roof and installation of new eaves and gutter guards, was $138,540, paid
from our Jesuit-held capital fund reserves.

The pandemic brought shared struggle and radical change to Ss. Peter & Paul but also induced a greater
sense of care and connection within our parish. We are grateful to everyone for supporting the church
financially during this time of crisis. Going forward, we will eventually find ourselves returning to a more
normal parish life. The church expects to operate at full staffing capacity, which includes hiring a full-time Parish Life Director and maintaining the services of a recently hired part-time Digital Media
Coordinator. As Fr. Gary has stated, our mission continues to grow and evolve as we discern new calls
and commitments for our church. All of our work to create a vibrant, robust and welcoming church will
require our ongoing and loyal dedication to support the church financially. Please contribute to the
church as fully and ably as you can. Thank you for your generosity. God be with you.

SSPP Finance Council
Mary Gresens             Christina Pauken
Greg Ridella                Bat Seymour