Contents
Page
Report of Independent Certified Public Accountants
Financial statements
Statements of financial position
Supplemental information
Combining statement of financial position
40
41
T 215.561.4200
F 215.561.1066
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Opinion
In our opinion, the financial statements referred to above present fairly, in all material respects, the
financial position of the Archdiocese of Philadelphia - Office for Financial Services as of June 30,
2015 and 2014, and the changes in its net assets and its cash flows for the years then ended in
accordance with accounting principles generally accepted in the United States of America.
Emphasis of matter
We draw attention to Note A to the financial statements, which describes the legal structure of OFS
within the Archdiocese of Philadelphia. Our opinion is not modified with respect to this matter.
Supplementary information
Our audit was conducted for the purpose of forming an opinion on the financial statements as a
whole. The supplementary information contained in the combining statement of financial position
and combining statement of activities and changes in net assets as of and for the year ended June 30,
2015 is presented for purposes of additional analysis and is not a required part of the financial
statements. Such supplementary information is the responsibility of management and was derived
from and relates directly to the underlying accounting and other records used to prepare the financial
statements. The information has been subjected to the auditing procedures applied in the audit of
the financial statements and certain additional procedures. These additional procedures included
comparing and reconciling the information directly to the underlying accounting and other records
used to prepare the financial statements or to the financial statements themselves, and other
additional procedures in accordance with auditing standards generally accepted in the United States
of America. In our opinion, the supplementary information is fairly stated, in all material respects, in
relation to the financial statements as a whole.
Philadelphia, Pennsylvania
October 23, 2015
ASSETS
2015
20,216,802
2014
$
68,493,134
5,886,348
7,913,838
48,239,062
3,925,016
938,299
560,929
4,003,954
2,771,356
7,538,165
143,262,069
52,230,904
3,982,263
823,187
1,053,383
2,354,522
7,633,965
-
2,201,182
42,117,816
2,292,618
16,156,806
17,552,324
$ 255,699,988
$ 206,447,954
4,324,840
47,799,999
7,193,962
131,467,066
6,278,555
57,495,269
65,368
121,036,706
190,785,867
184,875,898
25,042,292
15,051,224
24,820,605
(17,175,904)
17,157,093
21,590,867
64,914,121
21,572,056
$ 255,699,988
$ 206,447,954
Unrestricted
Revenues, gains, losses and other support
Parish assessments
Contributions from related parties (Note M)
Collections, bequests and donations
Tuition income
Investment income
Interest income
Fees for services
Intradiocesan income
Other income (loss) (Note O)
Archdiocesan collections
Net gain on sale of real estate and physical plant
Net assets released from restrictions and other
reclassifications (Note Q)
Net realized and unrealized appreciation/(depreciation) on
investments and beneficial interest in supporting charitable trusts
Premium income from insurance programs
$ 18,126,926
178,949
1,019,527
79,432
191,692
1,879,226
2,470,060
2,448,402
5,089,581
881,603
Total expenses
1,278,652
137,473
1,946
(2,290)
20,000
-
394,371
2,806,928
(343,826)
85,826,278
(76,195)
-
28,439
-
(2,105,869)
3,229,738
Total
$ 18,126,926
178,949
2,298,179
79,432
723,536
1,881,172
2,470,060
2,448,402
5,087,291
20,000
881,603
(391,582)
85,826,278
119,630,246
431,241
9,806,553
3,755,488
10,257,635
361,144
4,193,231
703,790
1,591,148
1,599,636
42,776
72,445,539
431,241
9,806,553
3,755,488
10,257,635
361,144
4,193,231
703,790
1,591,148
1,599,636
42,776
72,445,539
105,188,181
105,188,181
13,318,196
Other items
Contribution from related party (Note B)
28,900,000
(2,105,869)
3,229,738
14,442,065
28,900,000
42,218,196
(2,105,869)
3,229,738
43,342,065
(17,175,904)
17,157,093
21,590,867
21,572,056
$ 25,042,292
$ 15,051,224
$ 24,820,605
$ 64,914,121
(3,465,455)
Permanently
restricted
658,527
118,506,377
Expenses
Subsidies
Salaries and wages
Payroll taxes and fringe benefits
Purchased services
Intradiocesan expenses
Support expense
Interparochial assistance (Note M)
Depreciation expense
Interest expense (Note M)
Withdrawals expense
Insurance program expenses
Temporarily
restricted
Unrestricted
Revenues, gains, losses and other support
Parish assessments
Contributions from related parties (Note M)
Collections, bequests and donations
Tuition income
Investment income
Interest income
Fees for services
Intradiocesan income
Other income (Note O)
Archdiocesan collections
Net gain on sale of real estate and physical plant
Net assets released from restrictions (Note Q)
Net realized and unrealized appreciation on investments
and beneficial interest in supporting charitable trusts
Premium income from insurance programs
$ 18,081,632
419,495
1,349,751
49,587
83,242
2,022,155
1,211,710
2,538,444
5,120,504
487,109
1,192,341
3,228,724
848,018
232,482
37,907
10,000
(2,606,345)
372,912
(622,379)
$ 18,081,632
419,495
2,197,769
49,587
688,636
2,060,062
1,211,710
2,538,444
5,120,504
497,109
1,192,341
-
2,725,330
-
4,946,967
97,625,496
133,940,240
213,649
2,475,863
136,629,752
226,268
9,445,009
5,740,544
11,528,271
22,285
6,384,560
899,819
1,636,490
2,064,718
71,882
96,664,376
226,268
9,445,009
5,740,544
11,528,271
22,285
6,384,560
899,819
1,636,490
2,064,718
71,882
96,664,376
134,684,222
134,684,222
213,649
2,475,863
1,945,530
9,200,000
41,643,668
50,099,686
213,649
2,475,863
52,789,198
(67,275,590)
16,943,444
19,115,004
(31,217,142)
$ (17,175,904)
$ 17,157,093
$ 21,590,867
$ 21,572,056
Total
1,691,587
-
9,200,000
41,643,668
Permanently
restricted
530,050
97,625,496
(743,982)
Other items
Forgiveness of note payable to related party
Contribution from related party (Note B)
Temporarily
restricted
2015
2014
$ 43,342,065
$ 52,789,198
(881,603)
1,591,148
(2,603,232)
4,397,544
(4,272,876)
91,436
-
(1,192,341)
1,636,490
388,049
(2,377,366)
(3,135,029)
(230,072)
(9,200,000)
(791,710)
(416,834)
(1,953,715)
(9,695,270)
7,128,594
(903,720)
(543,086)
(1,603,004)
6,562,848
65,368
35,935,547
42,257,335
(195,630)
977,403
(142,321,118)
41,052,197
10,430,360
57,247
(115,000)
5,902,662
(614,356)
2,082,007
(7,075,967)
5,947,946
(37,978,368)
68,767
(7,628,669)
13,901,512
(84,211,879)
(31,297,128)
(48,276,332)
10,960,207
68,493,134
57,532,927
$ 20,216,802
$ 68,493,134
NOTE A - ORGANIZATION
The Archdiocese of Philadelphia (the Archdiocese) was proclaimed a Catholic diocese in 1808 and raised to an
Archdiocese in 1875. The Archdiocese oversees the activities of the Roman Catholic Church (the Church) for
the five counties of Philadelphia, Bucks, Chester, Delaware and Montgomery in the southeastern part of the
Commonwealth of Pennsylvania and is operated in accordance with the provisions of the 1983 Code of Canon
Law, as amended, of the Church. The Archdiocese of Philadelphia - Office for Financial Services (OFS)
provides programs and services to the parishes, schools and other related ecclesiastical entities in the territory of
the Archdiocese. OFS is considered to be a component of the Archdiocese of Philadelphia and not a separate legal
entity.
The accompanying financial statements include the following funds which operate under the auspices of OFS:
General Fund - Includes the accounts of separate ministry departments of the Archdiocese. The fund also
includes all of the OFS unrestricted and donor-restricted resources available for support of the Archdiocesan
operations including:
- Resources invested in plant facilities (land, property and equipment).
- Interparochial Cooperation Commission (IPCC) to provide support for the benefit of financially
struggling parishes.
- Assisted living support for retired priests residing in the Villa St. Joseph and Regina Coeli residences.
Custodian Fund - Includes funds received, via special collections, and held by the Archdiocese for the
beneficiaries of those special collections. All collected funds received are remitted to the beneficiary or used
solely to support the individual mandate of the specific special collection.
Archdiocese of Philadelphia Risk Insurance Trust (Risk Insurance Trust) - Represents the risk management
program of the Archdiocese, including property, general liability, workers compensation and auto insurance
policies covering substantially all participating Archdiocesan entities, as well as the management and
administration of the program and all related claims.
Archdiocese of Philadelphia Welfare Benefits Trust (Welfare Benefits Trust) - Represents the medical
benefits program of the Archdiocese, including health, dental prescription and vision insurance coverages for
substantially all participating Archdiocesan entities, as well as the management and administration of the
program.
Archdiocese of Philadelphia Deposit and Loan Program Trust Fund (Deposit and Loan Program Trust) Represents a cooperative deposit and lending program established primarily for the benefit of the parishes and
other Archdiocesan entities. This trust replaced the existing Trust and Loan Fund as of September 1, 2014, at
which time the assets and liabilities of the Trust and Loan Fund were assigned to and assumed by the Deposit
and Loan Program Trust.
(Continued)
9
(Continued)
10
(Continued)
11
2014
1,291,382
909,800
1,332,467
960,151
2,201,182
2,292,618
The underlying investments of the beneficial interest in the supporting charitable trusts consist of government
obligations, corporate obligations, mutual funds and equity securities. OFS receives statements from each of the
trustees, which detail the fair value of each investment in the supporting charitable trusts.
(Continued)
13
30 years
15 - 20 years
3 - 15 years
The legal title of certain real estate and improvements is held in the name of the Archdiocese in trust for the
exclusive benefit and charitable use of parishes or related ecclesiastical entities within the territory of the
Archdiocese. The Archdiocese has legal title, but does not have any proprietary, equitable or beneficial interest in
any such real property and improvements. Each parish or related ecclesiastical entity is a separate juridical person
and is the owner and holder of the proprietary, beneficial and equitable interest in its personal and real property
and related improvements which, in all events, is subject to the provisions of canon law. Accordingly, such real
property and improvements and any other assets and associated liabilities of the parishes within the territory of the
Archdiocese are not included in the accompanying financial statements. Long-lived assets are reviewed for
impairment whenever events or changes in circumstances indicate that the carrying amount may not be
recoverable. If the expected future cash flows from the use of the asset and its eventual disposition are less than
the carrying amount of the asset, an impairment loss is recognized and measured using the assets fair value. No
impairment losses were recognized for the years ended June 30, 2015 and 2014.
Real estate and physical plant and accumulated depreciation at June 30, 2015 and 2014 consist of:
2015
Land
Buildings
Building improvements
Equipment
Accumulated depreciation
Real estate and physical plant, net
2014
977,538 $
974,938
34,940,680
34,913,568
6,796,765
6,666,379
2,148,758
2,113,224
44,863,741
44,668,109
(28,706,935)
(27,115,785)
$ 16,156,806
$ 17,552,324
Depreciation expense of $1,591,148 and $1,636,490 was incurred for the years ended June 30, 2015 and 2014,
respectively.
(Continued)
14
2015
Land
Building
1,724,484
5,813,681
1,724,483
5,909,482
7,538,165
7,633,965
(Continued)
15
(Continued)
16
(Continued)
17
$ 145,000,000
(5,505,429)
(8,271,691)
(25,622,880)
$ 105,600,000
8,500,000
5,700,000
62,500,000
76,700,000
19,600,000
9,300,000
28,900,000
$ 105,600,000
(Continued)
18
2015
2014
$ 20,484,400
$ 21,622,756
21,859,771
105,681
93,125
22,700,319
482,781
980,000
42,542,977
(36,656,629)
45,785,856
(37,872,018)
5,886,348
7,913,838
2014
$ 59,596,662 $ 65,467,600
(11,357,600)
(13,236,696)
$ 48,239,062
(Continued)
19
$ 52,230,904
2015
2014
$ 59,596,662
$ 65,467,600
(13,236,696)
1,879,096
(12,868,140)
(368,556)
(11,357,600)
(13,236,696)
$ 48,239,062
$ 52,230,904
2015
2014
2,830,016
2,860,000
5,690,016
(1,765,000)
(Continued)
20
3,925,016
2,887,263
2,860,000
5,747,263
(1,765,000)
3,982,263
59,572
61,991
64,508
67,125
69,853
2,506,967
Total
2,830,016
On May 31, 2012, the Archdiocese of Philadelphia created a promissory note to the Deposit and Loan Program
Trust of the Archdiocese. On May 20, 2013, the promissory note was amended to increase the note to
$82,000,000 and to add two additional properties to the list of pledged properties. The balance of this
promissory note at June 30, 2015 and 2014 was $44,950,000 and $52,000,000, respectively. The promissory note
is collateralized by specific pledged real estate assets as documented in the May 31, 2012 promissory note, as
amended. As pledged assets are sold or monetized, net proceeds from the transactions will be used to fulfill the
obligation acknowledged via the promissory note. If a transaction for any of the pledged properties results in
net proceeds in excess of $20 million, the Archdiocese has discretion to use the excess for another purpose so
long as the value for remaining pledged properties is at least equal to the remaining obligation. During the year
ended June 30, 2015, the Archdiocese used $7,000,000 from proceeds received on the sale of pledged properties
to further pay down this promissory note. On May 30, 2014, the Archdiocese used $30,000,000 of the proceeds
from the cemeteries transaction with StoneMor to pay down this promissory note. The promissory note is
recorded as an asset and liability on the general ledgers of the Deposit and Loan Program Trust and General
Funds, respectively, and is eliminated within the OFS statements of financial position at June 30, 2015 and
2014.
(Continued)
21
2015
Note receivable from SJNPLP
Deposit and Loan Program Trust interest receivable balances
1,959,653
1,890,989
3,850,642
(2,912,343)
938,299
1,676,570
1,911,166
3,587,736
(2,764,549)
823,187
2015
Apostolic Impact Fund
Intradiocesan charges for utilities, payroll processing and other items, net
Other
159,776
401,153
510,000
451,137
92,246
560,929
1,053,383
2014
4,003,954
4,003,954
22
NOTE E - INVESTMENTS
The total investments of OFS at June 30, 2015 and 2014 are detailed as follows:
2014
2015
Investment in SEI Catholic Values Funds
Investment in the Trustee Account
Investment in the Trust of Josephine Nalle Unitrust
Other mutual funds
$ 141,345,946
1,695,207
220,916
40,098,511
1,796,809
222,496
Total investments
$ 143,262,069
$ 42,117,816
$ 110,152,906
$ 110,152,906
(Continued)
23
Temporarily
restricted
$
8,589,124
1,695,207
220,916
$ 10,505,247
Permanently
restricted
Total
$ 22,603,916
$ 141,345,946
$ 22,603,916
1,695,207
220,916
$ 143,262,069
9,110,430
-
9,110,430
24
Temporarily
restricted
Permanently
restricted
Total
$ 11,689,832
$ 19,298,249
$ 40,098,511
1,796,809
222,496
$ 13,709,137
$ 19,298,249
1,796,809
222,496
$ 42,117,816
Quoted prices in active markets for identical assets or liabilities as of the measurement date.
Level 2
Inputs other than Level 1 that are observable, either directly or indirectly, such as quoted prices for
similar assets or liabilities; quoted prices in markets that are not active; or other inputs that are
observable or can be corroborated by observable market data for substantially the same term of the
assets or liabilities.
Level 3
Inputs that are supported by little or no market activity and that are significant to the fair value of the
assets or liabilities.
A financial instruments level within the fair value hierarchy is based on the lowest level of any input that is
significant to the fair value measurement.
Fair value calculations may not be indicative of net realizable value or reflective of future fair values. Furthermore,
although OFS believes its valuation methods are appropriate and consistent with other market participants, the use
of different methodologies or assumptions to determine the fair value of certain financial instruments could result
in a different fair value measurement at the reporting date.
Fair value measurements of investments in entities that calculate net asset value (NAV) per share or its
equivalent as of June 30, 2015 and 2014 are as follows:
2015
Description
Investment in the Trustee Account (a)
Investment in the Trust of Josephine
Nalle Unitrust (b)
Fair value
-
2014
$ 40,098,511
1,695,207
1,796,809
(Continued)
25
Redemption
frequency
Redemption
notice
period
daily
1 day
daily
1 day
Unfunded
commitments
$
The Trustee Account, through April 30, 2015, was invested in the NPAP, a pooled investment portfolio
comprised of equity and fixed income securities. The primary objective of the Trustee Account was
preservation of capital while reducing, to the greatest extent possible, the possibility of loss. The investment
strategy and long-term asset allocation for the Trustee Account took into consideration the specific spending
requirements and the present and future needs of the Archdiocese and its respective participating
Ecclesiastical Organizations. Therefore, the desired minimum rate of return was equal to the Consumer
Price Index (CPI), plus three percent (3%) on an annualized basis. The fair values were estimated using
the NAV per share of the investments.
(b)
The Trust of Josephine Nalle Unitrust is comprised of cash, equity and fixed income securities held with
Wells Fargo Bank, N.A. (Wells Fargo). The NAV is derived based on the ending market value of the trust
assets as reported by Wells Fargo on June 30, 2015 and 2014. The investment strategy is a balanced
appreciation model that focuses on capital growth with income.
The following table presents the fair values of the investments held by OFS by level within the fair value hierarchy,
as of June 30, 2015:
Significant
other
observable
inputs
(Level 2)
Quoted prices
in active
markets
(Level 1)
Assets
Investments
Investment in SEI Catholic Values
Funds
Investment in the Trust of Josephine
Nalle Unitrust
Mutual funds
Beneficial interest in supporting
charitable trusts
Total assets at June 30, 2015
$ 141,345,946
220,916
$ 141,566,862
(Continued)
26
Significant
inputs
supported by
little or no
market activity
(Level 3)
Total fair
value
$ 141,345,946
1,695,207
-
1,695,207
220,916
2,201,182
2,201,182
3,896,389
$ 145,463,251
Quoted prices
in active
markets
(Level 1)
Assets
Investments
Investment in the Trustee Account
Investment in the Trust of Josephine
Nalle Unitrust
Mutual funds
Beneficial interest in supporting
charitable trusts
Total assets at June 30, 2014
222,496
-
222,496
Significant
other
observable
inputs
(Level 2)
$ 40,098,511
Significant
inputs
supported by
little or no
market activity
(Level 3)
$
Total fair
value
$ 40,098,511
1,796,809
-
1,796,809
222,496
2,292,618
2,292,618
4,089,427
$ 44,410,434
$ 40,098,511
The following table presents assets measured at fair value on a recurring basis using significant unobservable inputs
(Level 3) for the years ended June 30, 2015 and 2014:
Level 3
Investment type
Balance, June 30, 2013
3,713,888
375,539
4,089,427
(193,038)
27
3,896,389
2015
2014
$ 39,904,748
3,716,000
2,302,237
432,562
613,170
831,282
$ 50,142,862
3,038,000
2,290,770
740,622
918,042
364,973
$ 47,799,999
$ 57,495,269
(Continued)
28
(Continued)
29
(Continued)
30
2015
Billed
Parish assessment
Risk Insurance Program 1
Welfare Benefits Program 1
Parish loans and interest
1
$ 18,126,926
25,549,042
60,277,236
1,657,518
Collected
$ 19,265,282
25,367,989
60,779,394
7,488,413
Billed
$ 18,081,632
30,044,711
67,580,785
3,428,669
Collected
$ 17,998,217
30,598,412
67,741,273
13,871,954
These billed amounts are reflected on the statements of activities and changes in net assets under the caption,
Premium income from insurance programs.
(Continued)
33
2015
Interest paid on deposits
Interest accretion on conditional asset retirement obligation
Forgiveness of interest on Cemeteries Office loan
1,588,170
11,466
-
2,137,611
88,107
(161,000)
1,599,636
2,064,718
Loans are made to parishes and other Archdiocesan entities through the Deposit and Loan Program Trust (see
Note C). Except in arrangements which have been specifically negotiated, the interest rate was generally 4.5%.
Interest earned on these loans amounted to $1,760,091 and $1,903,754 for the years ended June 30, 2015 and 2014,
respectively.
OFS receives funds from certain Archdiocesan offices, agencies and related ecclesiastical organizations, which are
reflected as contributions on the statements of activities and changes in net assets. Such funds amounted to:
2014
2015
Priests pension contributions and other
(Continued)
34
178,949
419,495
2014
- $
48,000
74,070
188,469
393,251
61,423
37,204
68,900
221,238
511,054
703,790 $
899,819
2015
Allocations from Catholic Charities Appeal
Rental income
Other
2,512,307
2,406,215
168,769
2,450,843
2,404,997
264,664
5,087,291
5,120,504
2015
Archdiocesan ministries support
Retired priest and religious support
Renovations
4,234,851
6,266,806
4,549,567
7,654,823
6,580,319
2,921,951
$ 15,051,224
$ 17,157,093
2015
2014
$ 22,368,938
2,440,584
11,083
$ 19,052,374
2,527,478
11,015
$ 24,820,605
$ 21,590,867
Permanently restricted net assets at June 30, 2015 and 2014 are restricted to:
36
NOTE R - ENDOWMENTS
OFS endowments consist of donor-restricted endowment funds established for a variety of purposes. The
endowment includes donor-restricted endowment funds. Net assets associated with endowment funds are
classified and reported based on the existence or absence of donor-imposed restrictions.
During the year ended June 30, 2015, OFS reclassified certain temporarily restricted net assets to permanently
restricted net assets pursuant to an order from the Philadelphia Orphans Court approving a request made by the
Archdiocese.
1. Interpretation of Relevant Law
In accordance with Commonwealth of Pennsylvania Act 141, OFS classifies as permanently restricted net assets (a)
the original value of gifts donated to the permanent endowment; (b) the original value of subsequent gifts to the
permanent endowment; and (c) accumulations to the permanent endowment made in accordance with the
direction of the applicable donor gift instrument at the time the accumulation is added to the fund. The remaining
portion of the donor-restricted endowment fund is classified in permanently restricted net assets. Pennsylvania law
permits the Archdiocese to release a percentage, which is elected annually, of the market value of its endowment
funds into unrestricted income. The spending rate percentage, between 2% and 7%, is applied to the three-year
average of the market value of the endowment funds assets.
2. Return Objectives and Risk Parameters
OFS has adopted investment and spending policies for endowment assets that attempt to provide a predictable
stream of funding to programs supported by its endowment while seeking to maintain the purchasing power of the
endowment assets. Endowment assets include those assets of donor-restricted funds that the organization must
hold in perpetuity or for a donor-specified period. Under this policy, the endowment assets are invested in a
manner that is intended to produce results that exceed the price and yield results of plus 3% over the consumer
price index while assuming a moderate level of investment risk. OFS expects its endowment funds, over time, to
provide an average rate of return of between 6% and 7% annually. Actual returns in any given year may vary from
that amount.
3. Spending Policy
In accordance with state law, net realized and unrealized gains on permanently restricted investments are included
as permanently restricted net assets, even absent donor restrictions on the use of gains. Commonwealth of
Pennsylvania law permits OFS to adopt a spending policy for endowment earnings, subject to certain limitations.
OFS follows the total return concept of endowment investment and spending. Under this concept, a prudent
amount of appreciation earned on the investments may be spent in the event that the interest and dividends earned
are insufficient to meet that periods spending rate. The Archdioceses spending policy for the years ended June 30,
2015 and 2014 allowed for a 5% draw of the three-year average market value of the permanently restricted
endowments, estates and trusts.
As of June 30, 2015 and 2014, $24,820,605 and $21,590,867, respectively, in donor-restricted endowment funds
were recorded within permanently restricted net assets.
(Continued)
37
Temporarily
restricted
Permanently
restricted
Total
$ 21,590,867
394,371
$ 21,590,867
394,371
28,439
28,439
422,810
422,810
3,205,720
3,205,720
(398,792)
(398,792)
Unrestricted
$
$ 24,820,605
$ 24,820,605
$ 19,115,004
372,912
$ 19,115,004
372,912
2,725,330
2,725,330
3,098,242
3,098,242
(622,379)
(622,379)
$ 21,590,867
$ 21,590,867
2014
Endowment net assets, beginning of year
Investment income
Net appreciation (realized and
unrealized gains)
38
SUPPLEMENTAL INFORMATION
Total
General
Fund
Assets
Cash and cash equivalents
Due from Archdiocesan entities, net
Assessments and other amounts due, less allowance for doubtful accounts
of $36,656,629
Loans receivable, less allowance for doubtful accounts of $11,357,600
Notes receivable from related parties
Interest receivable from related parties
Other related party receivables
Other accounts receivable
Prepaid expenses
Real estate and physical plant held for sale
Investment in SEI Catholic Values Funds
Beneficial interest in supporting charitable trusts
Real estate and physical plant, less accumulated depreciation of $28,706,935
Total assets
Liabilities
Accounts payable
Accrued expenses and other payables
Deferred premium income and other deferred amounts
Deposits - parishes, institutions and related organizations
Notes payable to related parties
Total liabilities
Net assets
Unrestricted
Temporarily restricted
Permanently restricted
Total net assets
Total liabilities and net assets
5,192,223
Deposit and
Loan Program
Trust
$
3,532,965
Risk
Insurance
Trust
$
984,607
3,103,929
3,925,016
147
21,664,288
143,879
7,538,165
44,264,122
2,201,182
16,156,806
48,239,062
44,950,000
938,152
55,698,333
-
$ 104,189,757
$ 153,358,512
52,889,916
1,697,065
40,271,580
-
3,395,603
3,812,419
7,001,305
44,950,000
157,985
150,877,734
-
Welfare
Benefits
Trust
$
2,508,381
4,003,954
2,093,360
43,299,614
-
10,507,007
OFS
Total
Eliminations
$
20,216,802
274,038
534,117
-
(44,950,000)
(21,103,359)
-
5,886,348
48,239,062
3,925,016
938,299
560,929
4,003,954
2,771,356
7,538,165
143,262,069
2,201,182
16,156,806
11,315,162
$ (66,053,359)
$ 255,699,988
766,878
3,716,000
192,657
-
(1,692,691)
(19,410,668)
(44,950,000)
4,324,840
47,799,999
7,193,962
131,467,066
-
59,159,327
151,035,719
41,968,645
4,675,535
5,158,601
15,051,224
24,820,605
2,322,793
-
10,921,271
-
6,639,627
-
25,042,292
15,051,224
24,820,605
45,030,430
2,322,793
10,921,271
6,639,627
64,914,121
$ 104,189,757
$ 153,358,512
40
52,889,916
11,315,162
(66,053,359)
$ (66,053,359)
190,785,867
$ 255,699,988
Temporarily Restricted
Unrestricted
Total
General
Fund
Revenues, gains, losses and other support
Parish assessments
Contributions from related parties
Collections, bequests and donations
Tuition income
Investment income
Interest income
Fees for services
Intradiocesan income
Other income (loss)
Archdiocesan collections
Net gain on sale of real estate and physical plant
Net assets released from restrictions and other
reclassifications
Net realized and unrealized appreciation/(depreciation)
on investments and beneficial interest in supporting
charitable trusts
Premium income from insurance programs
658,527
18,126,926
4,446,926
3,375,681
79,432
136,461
287,765
4,585,882
2,448,402
5,064,051
881,603
Deposit and
Loan Program
Trust
29,830
1,760,091
2,460
-
Risk
Insurance
Trust
25,401
14
-
Welfare
Benefits
Trust
Eliminations
23,056
-
General
Fund
Total
(4,267,977)
(2,356,154)
(168,630)
(2,115,822)
-
18,126,926
178,949
1,019,527
79,432
191,692
1,879,226
2,470,060
2,448,402
5,089,581
881,603
935,900
5,078
(2,290)
-
Plant
Fund
Permanently Restricted
Estates &
Trusts
Fund
658,527
(3,858)
(343,826)
85,826,278
(101,768)
-
833,062
342,752
132,395
1,946
20,000
(3,461,597)
1,278,652
137,473
1,946
(2,290)
20,000
(3,465,455)
394,371
-
Grand
Total
Total
394,371
-
2,806,928
2,806,928
18,126,926
178,949
2,298,179
79,432
723,536
1,881,172
2,470,060
2,448,402
5,087,291
20,000
881,603
-
27,870
-
(233,790)
-
(137,906)
25,549,042
60,277,236
40,119,526
1,558,591
25,436,551
60,300,292
(8,908,583)
118,506,377
3,792,741
9,806,553
3,755,488
10,150,527
550,683
8,322,371
703,790
1,591,148
11,466
1,714,876
-
107,108
26,404
(2,013,319)
1,756,800
1,590,532
-
(346)
16,781,050
(215,597)
55,664,489
(3,361,500)
(2,115,821)
(168,630)
(3,262,632)
-
431,241
9,806,553
3,755,488
10,257,635
361,144
4,193,231
703,790
1,591,148
1,599,636
42,776
72,445,539
431,241
9,806,553
3,755,488
10,257,635
361,144
4,193,231
703,790
1,591,148
1,599,636
42,776
72,445,539
40,399,643
1,467,525
16,780,704
55,448,892
(8,908,583)
105,188,181
105,188,181
(280,117)
91,066
8,655,847
4,851,400
9,300,000
19,600,000
9,019,883
91,066
28,255,847
(3,861,282)
2,231,727
(17,334,576)
5,158,601
2,322,793
10,921,271
13,318,196
28,900,000
4,851,400
42,218,196
833,062
1,788,227
(17,175,904)
5,668,222
25,042,292
$ 6,501,284
6,639,627
41
833,062
25,573
-
Total
Estates &
Trusts
Fund
General
Fund
(2,938,931)
(2,938,931)
(76,195)
-
(91,437)
-
119,876
-
28,439
-
(391,582)
85,826,278
(2,105,869)
(91,437)
3,321,175
3,229,738
119,630,246
(2,105,869)
(91,437)
3,321,175
3,229,738
14,442,065
28,900,000
(2,938,931)
(2,105,869)
(91,437)
3,321,175
3,229,738
43,342,065
1,497,738
9,991,133
17,157,093
2,314,375
19,276,492
21,590,867
21,572,056
$ 1,497,738
$ 7,052,202
$ 15,051,224
$ 2,222,938
$ 22,597,667
$ 24,820,605
64,914,121