Annual Financial Report

Church of St. Mary

20 Harrison Avenue
East Islip, NY 11730-2391
(631) 581-4266
Fax: (631) 581-0112
www.parishofstmary.org


November 18, 2020

 

Dear Parishioners,

 

     I hope this finds you and your family safe and healthy.

 

     Attached please find the Annual Financial Report for the parish and school for the fiscal year ended August 31, 2020 compared with August 31, 2019.

 

     Some points for consideration:

 

     Parish

    

1.   Regular Collections were down almost 20% in 2020 from the 2019 fiscal year. During the first 3 months in the current fiscal year Regular Collections are down about 40%.

2.   Fundraising events have been canceled until further notice.

3.   Parish operations reflect a deficit of $149,269 without the extraordinary net income received of $325,951.

 

School

 

1.    2020 total Operating Revenue is down about $170,000 from the 2019 fiscal year.

2.    School operations reflect a deficit of $88,359 after receiving $325,000 in SBA PPP funding as a result of the 2020 CARES ACT.

  

     I truly appreciate the continued financial support of our parishioners. During these unprecedented times while many are struggling financially, St. Mary is no exception.  At the present level of funds received weekly the parish will need to make some difficult decisions on operations and ministries.

 

     The Parish appreciates any level of assistance that can be given of your time, talent and treasure.

 

     If you have any questions, you may contact me through the parish office.

 

                                                                                                                               

                                                                                                                                Very truly yours,

                                                                                                                                Thomas Jones, CPA

                                                                                                                                Finance Council Chairman 




 


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