June 10 - Archdiocese of Boston Releases Annual Financial Report*
(Braintree, Massachusetts) June 10, 2010…The Archdiocese of Boston today released its annual financial report for the Fiscal Year ending June 30, 2009. The full report is available on the Archdiocese’s website (http://www.bostoncatholic.org/annualreport) together with the audited financial statements of Archdiocesan related organizations.
The report provides a comprehensive review of the Archdiocese’s assets, liabilities and annual revenue. Included are the audited financial statements of the Roman Catholic Archbishop of Boston, a Corporation Sole (the “Corporation Sole”), encompassing the activities of the parishes and central operations. The report also includes an accounting of payments for sexual abuse settlements and related expenses and the sources of these funds.
Cardinal Seán P. O’Malley commented that “I am deeply grateful to the faithful of the Archdiocese and the members of the wider community who contribute to the work of the Church. In many of the 144 communities we serve, economic shortfalls have led increasing numbers of people to turn their parishes and Archdiocesan agencies for assistance, many never having expected to be in such a circumstance. Though we face significant financial challenges, we remain steadfast in our commitment to be faithful stewards of the resources entrusted to us as we carry on the mission given us by Jesus Christ, providing our brothers and sisters with food, shelter, healthcare and spiritual support.”
The FY09 annual report shows us that the Archdiocese has been impacted by the economic downturn felt across all sectors of the U.S. economy. Despite aggressive measures to stabilize the budget, significant challenges remain. Under the guidance and leadership of Cardinal Sean, the Archdiocese has implemented a culture of planning to address the long term pastoral needs of the Archdiocese. Particular focus in FY09 has been placed on reversing declining parish revenues, addressing school financial models, increasing support for the Cardinal’s mission and vision and achieving a balanced budget.
Chancellor Jim McDonough noted, “The challenges are substantial. The parishes have to increase revenues to fund staffing, in order to provide adequate services for parishioners. Our schools must raise tuitions to cover operating expenses and also seek additional financial support to subsidize students from low income families. Central ministries must achieve a balanced budget and also increase financial support for Cardinal Seán’s mission and vision.” However he added, “I continue to be optimistic about the future. Our Archdiocese is blessed with the leadership and the resolve to continue the rebuilding our Church of Boston. We are making significant progress in improving our operations and will build on that success as we adjust our operating model and ministries to the realities of the present time.”
About the Archdiocese of Boston: The Diocese of Boston was founded on April 8, 1808 and was elevated to Archdiocese in 1875. Currently serving the needs of nearly 2 million Catholics, the Archdiocese of Boston is an ethnically diverse and spiritually enriching faith community consisting of 291 parishes, across 144 communities, educating approximately 46,000 students in its Catholic schools and 156,000 in religious education classes each year, ministering to the needs of 200,000 individuals through its pastoral and social service outreach and in support of a health care ministry that meets the needs of some 1 million patients each year. Mass is celebrated in nearly twenty different languages each week. For more information, please visit www.BostonCatholic.org.