-Parish Debt Reduction Plan-
November 4, 2011 - Excerpt from Parish Bulletin
Every Sunday, over the months of September and October, we have shared ideas on how to help reduce our Parish debt. The main idea was and still is to include everybody, and we hope that each and every one of you has found at least one idea that suits your own situation and you have been able to put your ideas in motion. Unity of many can produce great results!
Here are just a few examples of how you can help:
- Donate generously on the occasion of the monthly special collection;
- Dedicate to family or loved ones a church pew or / and a stained window that has not been dedicated yet;
- “Add a seat at your table” - Remember your family members who are living far away or have died by giving a donation to our church on the occasion of family feasts;
- Think of the church on the occasion of buying new furniture and appliances or/ and making home renovation;
- Invite the Parish Priest to bless your house;
- Increase your Sunday offertory donation (every little bit helps);
- Make St. Margaret Mary Church your favorite charitable organization this year;
- Indicate St. Margaret Mary Church as the beneficiary of a donation instead of flowers on any occasion.
Is there any suggestion that appeals to you?, Sure there is! Please make good use of it!
As our benefactors, we thought you would appreciate some insight into our parish finances.
What was our debt at December 31, 2011?
- $755,000 to Archdiocese of Toronto (Interest Bearing) (Same as 2010)
- $155,000 to Con-Strada Group (Non-Interest Bearing) (Down from $215,000 on Dec 31, 2010)
What explains our parish debt? (Rounded)
- $510,000 - Land Purchase to accommodate parking lot expansion
- $155,000 - Balance towards construction of parking lot
- $120,000 - 2010 retaining wall repairs. (To view retaining wall report - CLICK HERE)
- $125,000 - Renovations to parish offices and clergy residences.
What were our payments in 2011 towards retiring or servicing debt or other significant unplanned expenditures?
- $15,000 for various repairs to the rectory and the parish hall
- $25,000 in debt interest payments
- $85,000 in debt principal reduction
That's a combined total of $125,000 in payments.
What were the revenue sources to fund the $125,000 in payments explained above?
- Social Committee - $71,800
- Knights of Columbus - $ 5,000
- Bulletin Proceeds - $13,400
- CWL - $12,000
- Padre Pio Group - $ 6,500
- Marriage Course Fees - $ 5,300
We are pleased to otherwise report that the balance of offertory and miscellaneous revenues in 2011 generally covered operation costs on a break-even basis.
How can you help?
- With quality information as to how your donations are serving the community, consider meeting or exceeding 2011 levels of giving where possible in 2012.
- By supporting ministry events! As you can see from this report, our ministries raise considerable funds towards the financial needs of our parish. Your support and participation makes a difference!
- By filling the church at all masses! This is a major goal for our community and we are pursuing all avenues to make this goal a reality.
We hope this report has been helpful to you. Thank you for your contribution to community life and thank you so much for your financial support. Everyone counts. Everyone matters. Small gestures will add up to move mountains!
USEFUL LINKS FOR FINANCIAL GIVING
It would be impossible to do our work and provide for the financial needs of our parish without the kind and generous donations we receive from the community.