MARY QUEEN OF HEAVEN

1
MARY QUEEN OF HEAVEN

• An Overview of Financial Performance

2
AGENDA

• Highlights
• Income
• Balance Sheet
• October Count
• Parish Debt
• Strategies for staying in the black by June 2007

3
HIGHLIGHTS

• The parish facilities have been repaired and
  upgraded.
• FY 05/06 the parish for the first time in 9 years
  paid all of her debts.
• Our Sunday collection had risen over 23 since
  last year. The largest increase in the Cicero
  Berwyn Area.
• The number of worshipers has increased by over
  400 people in one year.
• New programs e.g. early Childhood and
  After-School programs have now opened.
• Better control of expenses and income for the
  parish had resulted in significant financial
  gains.

4
Income

• Several sources provide our parish with revenues
  that help us meet our budget goals.
• Sunday Regular Collection- 4,700 (Avg.)
• School Rental
• Book Store
• Special Events and Fundraisers.
• Tuition and Fees for Religious Ed.

5
Some of our Major Expenses
6
6 MONTHBALANCE SHEET
Please refer to the balance sheet in your
bulletin.
7
6 MONTHBALANCE SHEET
8
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.
9
Howe did we do last year?

• It takes approximately 500,000 per fiscal year
  to run our parish.
• Last year we were blessed with a gift from the
  late Mrs. Garcia, who willed to our parish a gift
  of 180,000.
• After paying all of our debts last year, we still
  were able to save over 50,000 of that money for
  future investments.

10
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 5 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.

11
Parish Debt

• Today that debt is currently at

458,1178.19
12
Strategies to Stay in the Black

• We are currently running on a deficit of
  28,360.87. 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.

13
Strategies to Stay in the Black

• Increase revenues through
• Increased giving by parishioners. (Our collection
  average is 4,500 it must reach 7,000 by years
  end)
• Increase number of parishioners with a goal of
  2000 worshipers on Sundays for this year.
• Increase number of registered parishioners.
• Increase major fundraising activities and
  encourage major gifts.
• Continued education and reporting on the
  financial status of the parish to all
  parishioners.

14
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.

15
Town Hall Meeting

• January 28, 2007
• 500 p.m.
• School Gym

16
MARY QUEEN OF HEAVEN 1911-2007