MARY QUEEN OF HEAVEN

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MARY QUEEN OF HEAVEN

• An Overview of Six Month
• Financial Performance

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AGENDA

• Highlights
• Income
• Balance Sheet
• October Count
• Parish Debt
• Strategies for staying in the black by June 2008
• Full Report

3
HIGHLIGHTS

• The parish facilities continue to be repaired and
  upgraded.
• For the first time in 14 years our parish was
  able to execute a Parish Carnival Queenship
  Festival that allowed us to recover
  significantly from financial drops during the
  summer.
• Our Sunday collection had risen over 18 since
  last year. We continue to have the largest
  increase in the Cicero Berwyn Area.
• The number of worshipers has increased where over
  2000 people now worship our community in any
  given weekend.
• New programs e.g. Viva After school program,
  Mexican Folkloric dance, guitar lessons etc. are
  now available for all families and residents in
  Cicero.
• Better control of expenses and income for the
  parish had resulted in significant financial
  gains.

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Income

• Several sources provide our parish with revenues
  that help us meet our budget goals.
• Average Sunday Collection 5,200
• School Rental
• Book Store
• Special Events and Fundraisers.
• Tuition and Fees for Religious Ed.
• Special gifts and bequests.

5
Some of our Major Expenses
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6 MONTHBALANCE SHEET
Please refer to the balance sheet in your
bulletin or at the end of this presentation
7
October Count
Four Sundays in October are used to tally a
Census of how many people worship at Mary Queen
of Heaven. This is known as the October Count.
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Howe did we do last year?

• It takes approximately 500,000 per fiscal year
  to run our parish.
• Last year we were unable to pay all of our
  receipts for the fiscal year thus having to run
  over a budget deficit of over 50,000. In effect
  we depleted our savings for that fiscal year.
• Though this may seem discouraging we must point
  out that this cost is actually lower if we did
  not have to worry about costs for differed
  maintenance and infrastructure. (Our buildings
  are being attended to and repaired. This is what
  is causing our deficit spending.)
• We also had to pay for the costs of restructuring
  the of the administrative staff. Since some of
  our staff members have been here for over 10
  years, the costs associated with their departure
  was considerable.

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Parish Debt

• When a parish is unable to pay its bills, the
  Archdiocese pays them in form of a loan. That
  loan, like any other loan, bears with it interest
  payments.
• For the past 6 years our parish has not been able
  to pay off her bills, thus incurring a growing
  debt to the Archdiocese.
• Since MQH has incurred so much debt and has not
  been able to pay any part of it, the Archdiocese
  will no longer provide any more loans to our
  parish.

10
Parish Debt

• Today that debt is currently at

497,249.41
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Strategies to Stay in the Black

• We are currently running on a deficit of
  60,289.31. We need to make this up and pay for
  the rest of the years bills. How?
• Prayer and Intercession
• At every mass celebrated at MQH we will offer an
  intention for the fiscal health of our community.
• Organize a parish Wide Novena to St. Joseph for
  the grace of Stewardship.
• Preach about the Biblical understanding of
  Justice and Charity.
• Reduce Spending through
• Reduce inefficiencies in administrative costs.
• Increase efficiency in our energy needs.
• Increase efficiencies in services to
  parishioners.

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Strategies to Stay in the Black

• Increase revenues through
• Increased giving by parishioners. (Our collection
  average is 5,200. It must reach 6,000 by years
  end)
• Increase number of parishioners with a goal of
  2300 contributing worshipers on Sundays for this
  year.
• Increase number of registered parishioners.
• Increase major fundraising activities and
  encourage major gifts.

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Strategies to Stay in the Black

• Response to our Parish Debt.
• Negotiate a 0 interest rate with the Archdiocese
  with the understand that we will be working to
  reduce the debt on a yearly basis.
• Negotiate with the Archdiocese a 1 for 1 or 2 for
  1 payment plan.
• That means that for every dollar we raise to pay
  back the debt the Archdiocese provide a matching
  grant.

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Mary Queen of HeavenSix Month Report

• To view the complete report, just click on the
  icon below.

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MARY QUEEN OF HEAVEN 1911-2008