CHURCH
INCOME EXPENSE
$883,335 $863,763
Our most recent fiscal year 2019-2020 turned out to be a most challenging year for all of us. We never could have imagined discontinuing Mass for two months beginning mid-March thru mid- May. However, this Parish continues to be blessed with so many faithful, loving, and giving people who continued to support the church while being away. The last three months of the year, April-May-June were affected by the pandemic. Our income was down 19.1%, however, our expense for the same period was down 20.7% so our bottom line did not suffer.
As you can see our Income was $883,335 and Expense $863,763, only $19,572 difference between the two for the entire twelve months. This requires us to manage a very tight budget and work hard each month to insure we continue to be prudent custodians of the gifts you share with us.
FAMILY LIFE CENTER
Cost of Facility $2,500,000
Capital Campaign Pledges $1,584,653
Payments received thru 06/30/2020 $1,498,880
Mortgage balance 06/30/2020 $641,738*
We continue to be blessed with your support of our Family Life Center, a facility we all are extremely proud of. The Family Life Center was also closed during the pandemic but we are beginning to resume meetings and some events which exercising COVID-19 protocols. Thank you for your support of our FLC.
*Prior to beginning our Capital Campaign, we had approximately $500,000 in our Building Fund
CAPITAL IMPROVEMENTS
This past year we replaced (3) air conditioners for our school and also replaced about 65% of the school roof. These improvements cost $126,160 which was paid from our Reserve Account. This account was setup in 2011 to insure we have funds on hand when faced with both anticipated and unexpected major capital expenses. The current balance in this account is $302,076 and we have projected capital expenses for this year in excess of $100,000.
Fortunately, Holy Spirit was in good position to flow with the challenging circumstances of the pandemic lock down. Many volunteers joyfully sharing their time and talent allowed us to live-stream our Masses and other devotions which now can be viewed by many both inside and outside of the parish. We’ve been blessed with many individuals who kept our parish website and social media up to date. Using these tools and traditional letters through the mail and phone calls/messages allowed Holy Spirit to keep a healthy connection with you.
We also have to admit that one major impact of the pandemic and the accompanying shutdown has been a significant decrease in weekly giving. We continue to depend on the generosity of all parishioners as we maneuver through these unprecedented times. You can help Holy Spirit grow stronger by mailing your donations in or by going electronic. Please consider sending your Sunday contributions online. Text the word “GIVE” to 501-273-3327. Or click the link: https://giving.parishsoft.com/app/giving/ holy1166175. Taking this step helps to solidify the parish finances.
Should you have any questions, please feel free to contact me, or Nick Winiewicz our Parish Finance Council chairman or Jim Davis our Business Manager.
Thanking you for your continued generosity, I remain, with prayerful best wishes.
Sincerely yours in Christ,
Fr. Amar MSFS
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