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Assets<br />
Current Assets $ 809,255<br />
Cash 388,820<br />
Accounts receivable 22,507<br />
Pledges receivable 378,012<br />
Prepaid expenses 19,916<br />
Property & Equipment $ 620,932<br />
Houses 763,406<br />
Office equipment 18,230<br />
Less: depreciation (160,704)<br />
O<strong>the</strong>r Assets $ 24,130<br />
Security deposits 24,130<br />
Total = $1,454,317<br />
Personal Support<br />
Raising<br />
$270,597<br />
Most Rev. John C. Nienstedt<br />
Honorary CHair<br />
Very Rev. Peter Laird<br />
President<br />
Rev. Andrew Cozzens<br />
ViCe- President<br />
Rev. Mr. Jim Meyer<br />
Program Revenue,<br />
$697,663<br />
Capital Campaign<br />
$58,800<br />
Budget percentage breakdown by branch: 47% Minnesota, 19%<br />
Ohio, 10% New Jersey, 10% Kansas, 14% National Office &<br />
Nascent Branches. Funds raised in <strong>the</strong> branches go <strong>to</strong>wards <strong>the</strong><br />
branches in which <strong>the</strong>y were raised.<br />
“Personal Support Raising”: funds raised by missionaries from<br />
family and friends.<br />
“O<strong>the</strong>r Contributions”: primarily in-kind facilities contributions.<br />
treasurer & FinanCe CHair<br />
Contributed Services<br />
$250,882<br />
SPO’s annual audit is conducted by Le<strong>the</strong>rt, Skwira, Schultz & Co.<br />
and is available on our website. (www.spoweb.org)<br />
Income $2,281,345 Expenses $2,153,380<br />
Mrs. Jessica Nelson<br />
seCretary<br />
Annual Campaign<br />
$466,804<br />
Mr. Steven Kennedy<br />
Board aFFairs CHair<br />
Mr. Gordy DeMarais<br />
O<strong>the</strong>r Contributions<br />
$111,505<br />
Founder & exeCutiVe direC<strong>to</strong>r<br />
Benefit Events<br />
$425,094<br />
Mr. Mark Berchem<br />
Mr. Denny Farrell<br />
Mrs. Laura Hemler<br />
Mr. Al Kraling<br />
<strong>Outreach</strong> Programs<br />
$765,326<br />
School <strong>of</strong> <strong>the</strong><br />
New Evangelization<br />
$196,065<br />
Net Income $127,965<br />
Liabilities and Net Assets<br />
Current Liabilities $ 100,366<br />
Current maturities <strong>of</strong> L-T debt 8,550<br />
Accounts payable 25,093<br />
Accrued employee benefits 16,063<br />
Security deposits 31,500<br />
Unearned revenue 19,160<br />
Long-Term Debt $ 341,450<br />
Mortgage payable 350,000<br />
Less: Current maturities (8,550)<br />
Net Assets (unrestricted) $ 1,012,501<br />
Total = $1,454,317<br />
balance sheet (June 30, 2011)<br />
Formation Program<br />
$152,080<br />
Development & Office<br />
Costs<br />
$231,627<br />
Mrs. Sheila Letscher<br />
Mr. Jim McQuillan<br />
Mrs. Sarah Mealey<br />
Mr. Dan Moran<br />
Support Staff<br />
$355,069<br />
Household Program<br />
$453,212<br />
2010 ‐11 income & expenses<br />
board <strong>of</strong> direc<strong>to</strong>rs