In late November 2020, the Archdiocese of Philadelphia published audited financial statements for The Office for Financial Services, its Pastoral Center entity, for the fiscal year ended June 30, 2020.
Those statements illustrated a core operating result with a modest surplus of $0.1 million for the past fiscal year. They also illustrated an improvement of over $190 million against underfunded balance sheet obligations over the past eight years.
At that time, the Archdiocese indicated it would publish similar statements for additional separate entities.
Audited financial statements for the fiscal year ended June 30, 2020 for the 18 entities listed below were published on www.CatholicPhilly.com today.
- Office of Catholic Education: Administration Account
- Office of Catholic Education: High Schools
- Office of Catholic Education: Schools of Special Education
- Archdiocese of Philadelphia Catholic Charities Appeal Fund
- Catholic Community Services of the Archdiocese of Philadelphia
- Catholic Housing and Community Services of the Archdiocese of Philadelphia
- Catholic Social Services of the Archdiocese of Philadelphia
- Communities of Don Guanella and Divine Providence
- Nutritional Development Services of the Archdiocese of Philadelphia
- Saint Edmond’s Home for Crippled Children
- Saint Francis-Saint Joseph Homes for Children
- Saint Gabriel’s System
- Saint John’s Hospice
- Saint John Vianney Center
- The Philadelphia Theological Seminary of Saint Charles Borromeo
The Archdiocese of Philadelphia publicly announced an outsourced management agreement and long-term lease regarding 13 Catholic cemeteries with StoneMor, L.P. in September 2013. The audited financial statements for the following three cemeteries related entities were also published on www.CatholicPhilly.com today.
- Office of Catholic Cemeteries
- Archdiocese of Philadelphia Cemetery Permanent Lot Care Fund Irrevocable Trust (“Perpetual Care Fund”)[i]
- Philadelphia Catholic Cemeteries, LLC (“PCC”)[ii]
Additionally, none of the reports released by the Archdiocese include financial statements for individual parishes. All parishes are independent and autonomous entities.
# # #
Editor’s Note: Complete copies of the audited financial statements for the Office for Financial Services for the fiscal years ended June 30, 2020 and June 30, 2019 can be found at https://catholicphilly.com/2021/01/uncategorized/2019-2020-audited-financial-statements-of-the-archdiocese-of-philadelphia-2/
[i] The Perpetual Care Fund is an irrevocable trust which has been organized to hold certain funds which will be used to address the perpetual care obligations upon conclusion of the lease agreement with StoneMor, upon which the Archdiocese will resume responsibility for ongoing and future perpetual care obligations of the cemeteries.
[ii] PCC is a “sole purpose entity” – the sole purpose being to hold title to the eight cemeteries subject to a lease agreement with StoneMor. Five other cemetery properties, which are managed by StoneMor, are not subject to the lease agreement.
Contact:Contact: Kenneth A. Gavin
Chief Communications Officer
215-587-3747 (office)