Our current Financial Report for 2019-2020 is available in a virtual format. A link to the report was email to all active parishioners of Most Precious Blood on Thursday, October 22th.
If you did not receive an email with the report, please contact the Parish Office at 407-365-3231 or email email@example.com to have a copy emailed to you. Thank you.
What does the Sunday offering support?
Just as your home has bills such as utilities, home repair, lawn care, insurance, and groceries, the parish has expenses. Our main expense is the parish staff and two priests to support our parish ministries. We also have facility expenses such as utilities, insurance, rent, cleaning, and landscaping.
What do we owe?
A home, besides bills, has a mortgage. You pay a monthly mortgage consisting of the principal and interest on your home loan. The parish now has one mortgage. The balance on the parish mortgage for the Parish Life Center and site development is $3,535,622. This is a big mortgage balance. In interest alone, we paid $161,258 last year. We need $354,000 a year to pay down the mortgage. .
What is the interest rate on our loan?
The Diocese gave us our mortgage loan and set the interest rate at 5.35% based on its cost of capital. Most Precious Blood is part of the Diocese and as such we are bound by Diocesan Policy.
How much of the contributions for debt reduction stays with the parish?
All of it. Our current collection for the parish debt is applied 100% to the parish debt.
What was the cost of Most Precious Blood Catholic Church from ground level down?
Remember, this land was swamp. The Diocese purchased 60 acres, cleared the land, trucked in a mountain of fill dirt, graded it, paved roads and parking, put in sewers and lighting, and put down sod. The cost of land and its development was $6,147,700. This amount is split approximately 60% to Most Precious Blood and 40% to the Diocese. Of Most Precious Blood’s 60% approximately $2.6 million is deferred, and the balance is not included in Most Precious Blood’s land cost or debt obligation.
What was the cost of Most Precious Blood Catholic Church for everything above ground?
Once the land was ready, we could put up buildings. The Parish Life Center, its furniture, furnishings and equipment, was the main cost. Installing the rented modular buildings for classroom space and parish office was another cost. The total of everything you see above ground was $5,185,559.
What is the total cost of the campus?
Between the Diocese and Most Precious Blood the amount of money invested in the campus on Lockwood to date is $11,333,259. That is comprised of the $6,892,567 of Most Precious Blood’s current investment, $2,593,364 of Most Precious Blood’s deferred investment and the Dioceses $1,847,328 investment for future use.
What happens to the money for Our Catholic Appeal?
Just as you are assessed by your Home Owners Association, the parish is assessed by the Diocese of Orlando. Through Our Catholic Appeal, we contributed over $300,000 to the ministries of the Diocese such as Catholic Charities, San Pedro Center and the formation of future priests.
How can I find out more about our parish finances?
Copies of the Financial Report are in virtual format. Please contact our Parish Office at 407-365-3231 to have a copy emailed to you. Please direct questions to firstname.lastname@example.org. Please offer our thanks to Jack Lehman, the Chair of the Parish Finance Council, Ana Nazarian, our parish accountant, Larry Calise, Bill Christie, Frank Milmore, Theresa Nowotny and Elsy Yip for their fiscal talents and oversight.