SS. PETER AND PAUL JESUIT CHURCH FINANCE COUNCIL
YEAREND FINANCIAL REPORT TO THE PARISH
FOR THE 2023 FISCAL YEAR (JULY 1, 2022-JUNE 30, 2023)
INTRODUCTION
For the fiscal year ending June 30, 2023, the Finance Council reports net parish income of $20,816. Below are highlights of the 2023 fiscal year. In providing details, we found it useful to compare financial performance to budget and to 2022 fiscal year results. You will note a very significant difference between the two years, due principally to $100,000+ we received in the 2022 fiscal year in federal government one-time pandemic support (under Grant). As a one-time occurrence, this is not reported in the 2023 report. Discounting those government funds, we actually did better this year in our operating budget: because of strong Sunday mass offertory donations, our net operating income was up about $7,000. Thanks to your generosity, GIVE Appeal donations exceeded our goal, but they were down from the previous year. Overall, we finished this fiscal year in good condition with a positive bottom line, although it was not as large a result as the previous year, due mainly to the pandemic aid as mentioned and the difference in GIVE Appeal donations. We thank our fellow parishioners and friends for their support and commitment to a financially strong and viable church.
REVENUE
Offertory. The parish received offertory contributions exceeding $228,000, nearly $60,000, or 35%, more than budgeted projections and $32,000, or 17%, more than 2022 mass collections. Christmas donations of $18,056, included in the offertory results, nearly doubled the expected amount. We believe that one of the factors contributing to our fine offertory results is the variety of ways parishioners and friends can give to our church. Contributions are now mostly received by electronic means, while many people still contribute by placing cash and check donations in the collection basket at mass or sending in their donation by postal mail.
Stipends and Offerings. The largest component of this category is wedding stipends, which totaled $52,480. Our church continues to be a premier venue for couples celebrating their wedding downtown. During the calendar year 2022, the demand for weddings increased due to postponements in 2020 and 2021. We totaled 45 weddings that year. For 2023, we have 33 weddings on the calendar and already have half that number scheduled for 2024 and 2025 collectively.
Fundraising. The amount reported includes $52,389 in GIVE Appeal donations transferred to our operating account to manage expenses during the year. GIVE donations are addressed in more detail below.
Grants. The church did not receive any pandemic aid from the federal government. In sharp contrast, the parish received $101,771 in federal aid (categorized as grants) in the 2022 fiscal year. The parish was awarded $5,000 from the Catholic Foundation of Michigan for the Spiritual Exercises for the City initiative (part recorded in this fiscal year, and part in next).
EXPENSES
Administration. These costs are primarily for personnel and include purchases that assist the church staff in doing its work (e.g., hardware, software, supplies). Overall, administrative costs were managed below budget and were less than those incurred during the 2022 fiscal year. One exception was increased spending for general advertising and for printing and distribution of our annual Legacy magazine (collectively, $4,000 over budget). These costs were deemed necessary to expand our communications reach in the Detroit community and beyond.
Worship. Costs for flowers, decorations, candles, and musicians were approximately $5,800 above budget and account for the year-over-year increase in overall Worship costs. The expenses reflect a continuing commitment to our mission to create and sustain a prayerful and enriching liturgical environment for our Sunday and holy day masses, and special community masses that are coupled with civic events.
Evangelization/Christian Service. These costs, at budget, include the expenses of the first full year of employment of our Parish Life Director and Digital Media Coordinator. Also represented here are the costs for twelve participants to journey through the Spiritual Exercises accompanied by spiritual directors. This initiative is funded by the Catholic Foundation of Michigan.
Plant. This category primarily consists of costs of utilities, systems maintenance (e.g., heating/cooling and plumbing), services (e.g., repairs, and security) and property/liability insurance. Expenses were well under budget, primarily because significant savings were achieved by retaining a contractor to manage weekend building and maintenance needs rather than hiring an employee (which had been budgeted). Costs associated with repairs – $15,755 – notably increased ($5,000 over budget). Overall Plant costs were comparable to those incurred during the 2022 fiscal year.
GIVE Appeal. The parish raised a total of $152,389 during the 2022-23 GIVE Appeal, exceeding our goal of $150,000. After transferring $52,389 to our operating account, as stated above, the balance of $100,000 remains in our Jesuit-held capital account. Donations were 25% less than those collected during the 2021-22 GIVE Appeal, which was a record year. But our results were solid and represent one of our highest GIVE Appeal totals. Nevertheless, we would like to attract a wider donor base as we proceed with our current 2023-24 GIVE Appeal. Approximately 30% of our parishioners contributed to the 2022-23 GIVE Appeal with a median gift of $150.
Conclusion. Our 175th Anniversary year has uplifted our parish spiritually and communally. Growth has been seen both in mass attendance, new parishioner sign-ups and volunteerism. There is an excitement around the parish as we experience the awe of a monumental anniversary and deeply reflect together on the legacy passed down to us. We thank all of you for your continued financial support of the church. Your generosity conveys your pride and joy in our Jesuit heritage and commitment to Ignatian values.
SSSP Finance Council
Mary Gresens Greg Ridella Bat Seymour