End-of-year financial report

On behalf of Father Daniel and the Finance Council members, I sincerely thank all of you who give your time, talent, and treasure to Mother Teresa each year. We would not have developed the wonderful church community we all cherish without you.

Here are a few financial highlights from the past fiscal year, which ended in June. 

• We had a surplus of $43 thousand in offertory at the end of the fiscal year. This surplus, in large part, came from the Christmas match from a young family who challenged the community with a $25 thousand gift.
• We reduced our mortgage loan with the diocese from $2.75 million to $1.9 million. Most of it came from community support to help us pay down the debt. 
• We built up our capital improvement reserve. 
• We raised enough funds to create a much-needed outdoor gathering space. 

We continue to add new families to the parish. At the end of June, we reported a total of 951 families. While we all enjoy our church and are happy to be in our own space, it does come with increased operating expenses. 

• Our expenditures were $850 thousand.
• Running the AC in the hot summer weather increased our utility bill by 27%.
• Watering the trees during the hot summer weather increased our water bill by 400%.
• Growth in the parish also results in a need to add more staff. Our most immediate need is for a property manager.

Our giving averages $85 per month per family. Our goal is to average $100 per family by June 2025. Please prayerfully consider increasing your giving throughout the next year to help us maintain a strong fiscal position. 

We’re blessed to be here in this time and in this place and are profoundly grateful for all that you do and contribute to the success of our parish. As always, if you have any questions or comments, please contact Michelle Yeh, Business Manager, or Michelle Lombana, FY 2024-25 Finance Council Chair.


Michelle Lombana
Finance Council Chair

Financial Report