Immaculate Conception Parish Annual Report
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Explanation of Income Categories Other Income: Miscellaneous reimbursements for expenses previously paid, BAA initial gifts, sales tax refund, exchange (miscellaneous items the church pays and is reimbursed) Special Collections: All special collections not included in national collections – e.g. school support, maintenance fund, diocesan priest retirement Loan: SBA Paycheck Protection loan - now fully forgiven Fees: Faith formation, books, baptisms, and seminars Charity: Love Fund, Corona Virus Fund, My Neighbor, Christmas 2nd collection, Disaster Relief, Affordable Housing Special Projects: Music ministry project |
Personnel Expense Allocations:
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Explanation of Expense Categories
Word/Formation: Stewardship and faith formation Worship: Music, liturgical seasons, sacraments Service: Love Fund, Catholic Charities, Right to Life, Crop Walk, Durham CAN, Disaster Relief, Affordable Housing, Pastor's discretion fund, Christmas 2nd collection, Corona Virus Fund, My Neighbor Personnel: Wages and benefits for friars and staff Office: Supplies, software, bank charges, payroll preparation fees, office equipment lease expense Plant: Utilities, repairs, cleaning, maintenance, landscaping, insurance Assessment/Subsidies: Cathedraticum, Immaculata school investment, Immaculata tuition assistance, Diocesan Priest Retirement, Cardinal Gibbons subsidy Principal Repayment: Final payments for parish office Other: Sales tax expense, BAA initial gifts, exchange, capital purchases (sound equipment, computer, furnishings), Solar Lease Agreement |
Immaculata Catholic School Annual Report
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Explanation of Income Categories
Tuition: Tuition collected for 2020/2021 school year Tuition Assistance: Tuition assistance from donations/fundraisers/endowment disbursement applied to 2020/2021 school year Fees: Application, registration, and Gibbons shuttle fees Gifts: Annual Fund, Fall Fundraiser, Spring Fundraiser (does not include gifts made for specific restricted purposes or contributions to endowments) Miscellaneous: Past-due tuition collected from previous year, sales tax refund Cafeteria: Milk and food sales Student Activities: Yearbook, Heritage Celebrations, Box Tops, Student Council, Athletic Fees Extended Day: Camps, After Care, Clubs Parent Groups: Home & School Association (less previous year event refunds - cancelled due to COVID) |
Please note financials exclude all restricted gifts not designated for tuition assistance.
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Explanation of Expenses Categories
Education Wage & Benefits: Wages and benefits for instructional staff Technology: Computer lab and software licenses General Wage & Benefits: Wages and benefits for all staff not included in Education Office: Various administrative expenses including association dues, software, FACTS fees, office equipment lease, payroll preparation, and supplies Advancement: Advertising, admissions and development (including fundraising events) Plant: Repairs, utilities, cleaning, landscaping, maintenance, Covid supplies, insurance COVID: COVID related expenses (santizing spray, air duct cleaning, masks, face/desk shields Cafeteria: Milk and food expense Student Activities: Athletics, Class Activities, Class Start Up, Graduation, MS retreat, 8th Gr Trip, CSW, Yearbook, Heritage Celebrations, Student Council Extended Day: After care, Camp Parent Groups: Home & School Association Miscellaneous: Sales tax expense, miscellaneous payroll items |