Financial Report – Six months
Included in this week’s bulletin is a six month update on the Parish financial situation. Thank you to everyone for your amazing support during these difficult months of the pandemic. I met with the four individual finance councils this past week and they, too, wanted to express to you all their gratitude for your stewardship of time, talent, and treasure. We thought it helpful to give a mid-year update in addition to our end-of-year report in July.
If you have any questions about this mid-year report, please do not hesitate to contact me or a member of the finance council. Three of the four parishes are showing an operating surplus at this point with the other parish only slightly in the deficit. St. Gabriel’s bottom line number may be a little surprising, but that reflects a $40,000 investment to the Northern Michigan Catholic Foundation for a perpetual endowment that will be used for the upkeep of St. Gabriel’s church far into the future. Endowments are an important tool for planning for the future needs of our buildings and grounds. All four of our cemeteries have endowments that bear interest that can be used for the perpetual care of the cemeteries long after all of us are gone.
In the far right-hand column you will notice we provided a total of all four parishes added together. Even though the finances of our four parishes are tracked separately the vast majority of our expenses are shared in some way. Not one of our parishes could sustain the expenses alone. By working together and sharing expenses we are being good stewards of the gifts that have been given for the mission of our parish. I sometimes hear comments from people who talk about our parishes as if they are in competition with each other. That could not be farther from the truth of the matter. It is only by working together and sharing resources that we are able to continue to shine the light of Christ in our communities.
In the coming weeks and months you will be hearing about some of our plans for capital improvements of our parish facilities and grounds so that we can better evangelize and grow in the future.
Again, thank you all for your stewardship and support as we move forward in faith bringing the good news of Jesus Christ to the people of our communities.