2022 FISCAL YEAR (JULY 1, 2021 – JUNE 30, 2022)    



The 2022 fiscal year was a standout year financially for Ss. Peter and Paul.  Our bottom line shows Total Parish Net Income of $165,395.42 – more than two and one-half times greater than Total Parish Net Income reported at the close of the 2021 fiscal year.  Our strong results are the product of a year-over-year increase in revenue in each of our primary contribution categories (Offertory, Stipends and Fundraising), federal government pandemic aid, and the maintenance of overall expenses near budget.  We are pleased to present these exceptional results to the parish.   However, we must note that we do not expect that factors unique to this fiscal year, and significantly contributing to the outcome, will be repeated in the foreseeable future.  Here is our summary and explanation of key financial data.


FYE22 Parish Summary



Offertory contributions of $196,093.31 substantially exceeded expectations and represent the greatest annual total over the last ten years.   Electronic giving through the church website and Givelify mobile  app account for almost 60% of the Sunday offertory and have become the preferred means of giving for parishioners and friends.  Christmas donations totaled $18,898, well above an expected amount of $10,000.


Stipends consist almost exclusively of fees collected for weddings at our church.  We received wedding fees of $66,175, nearly double the budgeted amount of$34,500.  Ss. Peter and  Paul continues to be a desired wedding venue.  During the fiscal year, 35 weddings took place, including those postponed in the 2021 fiscal year when the pandemic precluded gatherings.  Another 35 weddings are already scheduled for the 2023 fiscal year.


Our GIVE Appeal during the fiscal year was highly successful.  The parish raised $200,266.83, twice our goal of $100,000.  Of this total, $50,025 was transferred to our Savings account to help with operating expenses incurred during the fiscal year (and is reflected in FUNDRAISING RECEIPTS in the Summary above.) The remainder of $150,241.83 was deposited in our Jesuit-held Capital Fund (and is reflected at the end of the Summary above).   In all, 102 parishioners contributed to the GIVE Appeal, representing 54% of our parishioner household base.  The median contribution was $100. Another fundraising initiative occurred during the year for the purpose of purchasing a new grand piano for the church.   Donors responded generously.  Funds for the piano purchase were also raised from classical concerts performed at our church in conjunction with the FEVER DETROIT organization.


Church revenue received a significant boost from our receipt of funds under two federal government programs aimed at relieving employment costs during the pandemic.  A loan of $50,890.95 received in 2021 under the CARES Act “Paycheck Protection Program” was forgiven this fiscal year.   Due to the work of our pastor over many hours, our church also received a refundable tax credit of $50,879.68 under the Employee Retention Credit Program.  Both amounts, totaling $101,770.63, are properly accounted in 2022 as grants.  The Catholic Foundation of Michigan awarded our church a grant of $5,000 for Contemplative Leaders in Action, our young adult Ignatian leadership program.



Overall, expenses were slightly under budget by yearend.   There are, however, categories of expenses that notably were at a negative variance to budget, mainly under Plant operations.  These are (i) repairs and maintenance which were $8,316.22 above budget primarily due to plumbing, HVAC, roofing, security system and elevator issues, (ii) the higher cost of heating and electricity at $8,961.49 above budget, and (iii) the increased cost of property insurance which was $3,848 above budget. In addition, expected contributions from the Pope Francis Center toward shared costs under Administration were reduced by $8,000 during the colder months when the Center moved its operations to another downtown venue.  All of these costs were offset by budgeted but unspent salary and benefits for the Parish Life Director position which was not occupied until later in the year.



Our financial results for the 2022 fiscal year are indeed respectable.   Parishioners and friends continue to support generously our Ignatian mission to serve hearts, minds and bodies.  The uniqueness of the 2022 fiscal year, however, is that we substantially benefited from circumstances that are not expected to be present in the year ahead.   There are no plans on the horizon for government pandemic aid to be available during the 2023 fiscal year which began July 1.  Our employment needs have been addressed, and fully budgeted salaries and benefits will be paid for the immediate future.  As a result, we are budgeting an operating loss during this fiscal year.  Strong giving could enable the parish to fill that loss and also cover costs associated with our church’s 175th anniversary which will be commemorated next year.   We sincerely hope that loyal donors to Ss. Peter and Paul continue to support the church offertory collection and upcoming GIVE Appeal with even greater conviction to our mission.  We also pray that those who have not contributed lately take pause as a new fiscal year begins to discern the call to stewardship and establish a regular giving plan.


Ss. Peter and Paul  Finance Council

Mary Gresens    Greg Ridella    Bat Seymour, III