St. Dominic Catholic Church

Pastor's Corner

September 2, 2018

Finance Report: Fiscal Year July 2017 – June 2018

Ordinary Income                                  FY2018                         FY2017                 
Collections                                       $888,589.37            $867,206.87
Sacrament Donations                     $39,220.00               $41,990.57
Property Rental                                 $53,585.62              $52,013.30
Miscellaneous*                                  $37,798.88             $29,036.82
Total Ordinary Income                   $1,019,193.87           $990,247.56

OperatingExpenses
Salaries & Benefits                         $578,651.24              $566,268.98
Other Operating expense              $159,131.89                $142,433.97
Utilities                                              $83,414.50                 $90,539.16
Insurance                                          $115,884.92                $113,053.45
Archdiocesan Assessment            $96,567.42                 $94,485.12
School Subsidy                                $12,000.00                          $0.00
Total Operating Expense          $1,045,649.97            $1,006,780.68

Net Income                                  - $26,456.10               - $16,533.12

Pastor’s Discretionary fund         $39,505.24

Investment Activities with Archdiocese:
                                                           FY2018                            FY2017
Building and Maintenance Fund
Beginning Balance                           $134,392.68            $223,436.72
Ending Balance                                 $142,797.45             $134,492.68

Capital Campaign
Beginning Balance                           $314,984.43              $217,282.55
Income                                              $340,000.00              $99,000.00
Net Return                                              $3,321.16                   $3,201.88
Expense                                              $387,015.98                 $4,500.00
Ending Balance                                 $271,289.61                  314,984.43

Bank Account for the Capital Campaign
June 30 Balance                                  $109,185.01                $85,663.97

Total Pledges + Donations for Capital Campaign
$1,480,066.00 (80%of goal)

Some notes about the report: 

1. Miscellaneous Income (*) includes the room and board collected from the four Dominican friars who are not assigned to the parish, along with other restricted income and interest.  Our operating expenses include over $40,000 in church supplies like hosts, wine, offertory envelopes, and replacing part of the sound system. The Pastor’s discretionary fund supports ministry to parishioners and used cars purchased for the friars assigned to the parish.

2. This is our third straight year of deficits, and this year I will work on lowering expenses. I am grateful to the over 500 families and individuals who have contributed or pledged to the campaign to renovate our community center into a focal point for evangelization.  I was surprised to learn that 40%   of our annual Sunday collection comes from just 100 families and individuals. Everything we have comes from God, and supporting your parish is one of the ways you can demonstrate your gratitude to God. Are you giving God your first fruits in the collection, or simply what’s left over?

3. Although God demands a tithe (10% ) from the first fruits received from him in gratitude for His Providence, (Genesis 28:20-22, for example) Catholics in the U.S. give less than 1.2%   of their income to their church.  This is the lowest rate among all denominations.  The Church has five precepts outlining the indispensable minimum in prayer, moral effort and love of neighbor.  They include attending weekly Sunday Mass and Holy Days, yearly confession, communion at least once during the Easter season, and “the duty of providing for the material needs of the Church, each according to his abilities.” Catechism of the Catholic Church, 2043.

4. Hiring a youth minister in addition to Randy DeVera, our great confirmation coordinator, should be a priority.  A Public Religion Research Institute survey in 2016 showed that 62%   of Americans who have no religion abandoned their faith before the age of 18! Only 7%   of Millennials raised Catholic still actively practice their faith. If we don’t address this, our parish will soon be much smaller!