Annual Financial Report
July 2020- June 2021
Dear St. Ann Parish Family,
Earlier this summer, I had drafted a letter to invite you back to Mass and announce some return to normal. Sadly, the Delta Variant stopped that letter from being printed. We are having Mass in person every day and live-stream the Sunday 11 AM Mass on the parish Facebook and website, www.stannchurch-stl.org. We are taking precautions to keep everyone safe while adjusting to this, hopefully temporary, “new normal.” The side sections of the church are roped off for social distance, and hand sanitizer is readily available. It is vital to keep holy the Lord’s Day, and if you do not feel you can come in person, I encourage you to join St. Ann online or watch the Mass on television. Our Lord is always ready to pour out His grace in this challenging time.
We are in the middle of the 60th annual Msgr. Sprenke Soccer Tournament, after a simplified version last year. The bar-b-que has returned, and parishioners and alumni are enjoying food and conversation outside in the open air. I hope you can be involved in our parish life as best you can, carefully considering your health and the health of those around you.
Each year I share the parish financials for the previous fiscal year, which runs from July through June. With this letter, you will find the financial statement for the parish from July 1st, 2020-June 31st, 2021.
While the financials are important, and I hope you have time to review them, I want to take this moment to express my gratitude and offer my support however I can. I am happy to be serving this parish and its incredible, dedicated, and faithful people. The pandemic has affected people in different ways. There have been many faces I have not seen in a long time or only sporadically, while some new people have joined our parish. As a parish, we managed the challenges presented by COVID well, but I want to apologize for all the ways we failed, and I failed. I apologize. If there is anything I can do to support you spiritually, I am eager to help. If you have questions, concerns, or complaints, I welcome them.
St. Ann is a small but mighty parish. As a small parish, we depend on the stewardship of every parishioner. If something happens in our parish, it is going to be done by someone reading this letter. I thank you for all the ways you have supported the work of the parish and for your faith. Following Jesus Christ in the love of God and neighbor is the purpose of our parish and of our lives. No matter where we are in life or what the world is like, let us never lose sight of that mission! May God continue to bless you all abundantly!
In Christ,
Rev. Nicklaus Winker
Pastor
Executive Summary
This year we had a net profit of $43,850
Even with the pandemic, we had a good year. While many parishes had lower collections, at St. Ann, Sunday Offertory has recovered to 1% more than our 5-year average.
With COVID, we lost out on a variety of income. In a typical year, we would have raised $70-100,000 more in fundraising income. We also did not operate the school extended care program, which usually offsets school expenses, which could be considered lost income. We also missed out on Parish Center rental income.
While our core ordinary income and expenses operated at a loss this year, the Paycheck Protection Program loan was forgiven this year and offset our loss. The good news is that the income we lost to COVID would have easily covered this year’s ordinary expenses. We are on track for a financially stable coming year.
We had an increase in school enrollment again this year, which besides allowing us to serve more families, is a significant driver of income. We currently have over 200 hundred students between St. Ann Grade School and the Early Childhood Center. Grade school enrollment is over 170 students. Even with the financially stressed families faced from COVID, our tuition and fees delinquency rate was lower than the 5-year average.
We are benefiting from an additional federal COVID relief program, Emergency Assistance to Non-public Schools, EANS. This program does not provide us with any direct funding but reimburses the cost of COVID-related equipment purchases and pays directly for COVID learning-loss related services. This equipment will belong to the State of Missouri after we are reimbursed but is designated for the benefit of our students. These funds paid for a Summer School program to address learning losses and computers to facilitate any needed remote learning.
Ordinary parish expenses and personnel costs increased by less than 2%. We were able to serve more students and cope with the staffing challenges and additional cleaning as required by the pandemic with minimal additional cost.
We are well-positioned for the current year, with strong enrollment and the return of fundraising income. As we look to the next couple of years, school enrollment should remain strong. Donations are only steady. Costs for supplies, utilities, and even wages are rising and are likely to rise faster than they have recently. The future will require consistent income growth, growth that additional enrollment alone is unlikely to provide.
A Balance Sheet records assets, i.e. money, and liabilities, i.e. bills, at a moment in time. We compare that to the same point last year. The Profit and Loss Statement (P&L) records income and expenses over a period of time. The Net Income of the P&L will equal the change in Equity, which equals Assets minus Liabilities, between the Balance Sheets from the beginning and the end of the period covered.
5 Year Trends
The low point for income was 2018-19. Both enrollment and collections fell. That year we needed an emergency grant from the ACA to pay our bills.
Collections have mostly recovered even with COVID and enrollment and tuition are up.
Salary and Benefits and Supplies tend to increase each year. These have increased less than would be expected based on inflation, merit raises, and a higher mimium wage.
Free Ways to Support St. Ann
In addition to your offertory gift and support of other fundraisers, you can support St. Ann with your ordinary purchases. You can buy gift cards to many of the places you ordinarily shop and a percentage, sometimes as much as 10%, will go to support St. Ann. You can purchase these cards with cash or check in the parish office or online by bank draft at www.shopwithscrip.com, use enrollment code: f2527de44649. If you use Amazon, you can go to Smile.Amazon.com and select St. Ann. Then a small portion of your purchase will go to support St. Ann.
