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ARCHDIOCESE OF DENVER

FINANCIAL REPORT 2020

A letter from our Archbishop:

2020 was a year filled with challenges for the Archdiocese of Denver and its ministries. But now that the year is over, I look back on this past year with fatherly gratitude and joy for the generosity, faith and perseverance that so many of you displayed.  

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When the COVID pandemic shutdown nearly everything this past Spring, our pastors, parish staff, teachers, volunteers and parishioners stepped up to the challenge. We saw creative responses like parish phone banks organized to care for the elderly and isolated, online Masses, outdoor confession and Mass, the launch of St. Isidore Online Curriculum and many additional efforts to bring Christ to others. Through our parish food pantries, Catholic Charities’ shelters and housing, we were also able to meet the increased requests for assistance caused by the pandemic.

Despite the numerous challenges presented to our Catholic Schools, their administrators, teachers, students and parents responded admirably and quickly to the changing circumstances. Donors from around the archdiocese stepped up and contributed over $600,000 to provide the technology needed to facilitate online learning in the Spring. Then, while schools around the state were unable to do so, we were able to open our doors this past Fall for in-person learning and simultaneously provide a new online curriculum for those who desired or needed to participate remotely.

This past year the Denver Catholic and El Pueblo Catolico publications also completed the transition from a newspaper format to a high-quality magazine. This shift allowed us to improve the presentation and staying power of the news about the Church and focus more resources on online content, including live streams and web-based news. And to the surprise of many, did so at substantial cost savings compared to publishing the newspaper.

Finally, 2020 was a year in which the generosity of Catholics in northern Colorado shone brightly. Even though many people lost their jobs and society was in turmoil, the response from all of you was overwhelming. By the end of the year, our parishes were within five percent of their annual offertory collection and some even surpassed the previous year’s amount. The Archbishop’s Catholic Appeal also exceeded its goal for the year, which was completely unexpected.

I am filled with gratitude to the Father and all the faithful of northern Colorado for sustaining us in 2020. May his graces continue to fill us and move us to mission in 2021!

–Archbishop Samuel J. Aquila

A letter from the Finance Council Chair:

Dear members of the Catholic Church of northern Colorado:

While each year brings change, 2020 will stand out for obvious reasons.  In addition to the loss of life, the way in which we live and worship was altered dramatically.  The strain on individual lives and families and the broader Catholic community is significant.  But one thing didn’t change last year and never will change. Jesus Christ is King of the Universe.

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As members of the Finance Council, we assist Archbishop Aquila and his staff in oversight of the matters within our archdiocese. Remaining focused on the fact that Jesus Chris is king is the guiding principal that enables us to focus on our mission which is living and sharing the Gospel within our community of Northern Colorado.

In this report you will find information on the affairs of the archdiocese over the past fiscal year. Examples of topics we, the Finance Council, address include navigating the impact of COVID-19 on church ministries and operations and the budgetary constraints that came with the onset of the virus, implementing programs for the evangelization of our Catholic community and beyond, growing and improving our Catholic schools and the healing of past injustices through the Independent Reconciliation and Reparations Program for the victims of priestly sexual abuse.

Because this is my last letter writing to you as the Chairman of the Archdiocesan Finance Council I want to share with you that I have been honored to serve as the Chairman for these past 5 years and as member of the Finance Council when I was Head of the Investment Committee for 5 years before that time. Most importantly, I want to thank you for your continued support and prayers for our local church.

I am pleased to announce that Tom Huele will succeed me as Chairman. We are always looking for good and faithful people to volunteer their time and talents. If you desire to help, please reach out to Tom, Keith Parsons, Chief Operating Officer of the Archdiocese, or me. I am also grateful to all the members of the Finance Council and various subcommittees for volunteering their time to provide their wisdom, expertise and guidance. This service is needed and is very valuable to our Church.

As members of the Catholic Church in northern Colorado, your continued faithfulness to Jesus Christ and His Church allows the Finance Council to provide good stewardship and assistance to Archbishop Aquila as he looks to guide our Church into the future. We are grateful for you.

Sincerely,

ERIC ZELLWEGER, CFA, CHAIR
Archdiocesan Finance Council Chairman

St. John Paul II Center

Pastoral Center

The Archdiocese of Denver is a Colorado nonprofit corporation, located on the campus of the St. John Paul II Center for the New Evangelization in south Denver. The Pastoral Center is composed of the offices of the archbishop, vicars, directors and others who collaborate in the administration and oversight of more than 30 archdiocesan offices and ministry programs.

Highlights

Here is some more noteworthy work carried out by the Pastoral Center in 2020.

Office of Design and Construction

The Office of Design and Construction supports our parishes, schools and cemeteries with their repairs, remodels and new construction. The office assisted various parishes and ecclesiastical organizations in completing $73 million of major construction projects. At the close of 2020, approximately 100 projects were in progress with a total estimated project value of $197 million. The office continues to assist the parishes, schools and cemeteries in being good stewards of their resources by providing tools and practical expertise in best-value project management practices.

Human Resources

The Human Resources department for the Archdiocese of Denver saw a number of changes during 2020 amidst the challenges of a pandemic, remote working, and extensive needs for employee care. They emerged stronger, more process-oriented, and better aligned to expand resource stewardship, including the enhancement of payroll operations. Existing roles were revised for efficiency and efficacy and new roles were defined, leading to the hire of a Payroll and Benefits Specialist. 2021 will be focused on supporting the mission of the archdiocese by continuing to do the basics well and support employees in training, growth and personal development.

Parish Support and Services

The Archdiocese of Denver is continuing to improve the support and services provided to parishes. The updated Denver Parish Connect website provides parishes with easy access to documents, forms and resources to help them more efficiently perform their day-to-day operations, freeing them up to dedicate more time to the mission of the Church, leading people to Jesus Christ.

During the first week of the stay-at-home order of 2020, pastors and parish staff received daily communications from the Pastoral Center with recommendations for liturgical changes, website and livestream advice, HR and finance support, as well as up-to-date coverage on how local communities were being affected by COVID-19. Hundreds of individual communication touchpoints were made in that week alone in an effort to best support the parish communities during an unprecedented time.

Throughout 2020, parish support and services continued to adapt to the ever-changing needs within parish communities. This included the 2020 Pass the Basket tithing campaign, providing direct technical support to parishes in order to set up online giving, and personalized recommendations for how to communicate digitally with their parishioners through Flocknote.

As parishes adjusted to a new normal, they received continued guidance and support in maintaining communication with parishioners as restrictions changed. While there continues to be much uncertainty about the future, Parish Services remains flexible in their efforts to continue to adapt to the changing needs of the parishes and communities of the Archdiocese of Denver.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  5,872,488   5,985,658
Short-term investments for designated purposes  –  –
Total cash & investments  5,872,488 5,985,658
Prepaid expenses & other assets  313,143  378,086
Notes, contributions & accounts receivable, net  17,533,813  20,343,722
Cash held in trust for others  3,427,432  4,358,502
Due from parishes & other related entities, net  152,982  718,370
Investments  18,696,836  19,946,639
Benefical interest in charitable trust  –  –
Property & equipment, net  35,744,618  36,841,511
Total assets  81,741,312   88,572,488
Liabilities & net assets:
Accounts payable & accrued expenses  2,139,281  2,785,198
Due to other AOD entities  –  2,221,862
Funds held in trust for others  3,427,432  4,358,502
Other liabilities  510,099  523,627
Notes & bonds payable  18,967,043  16,926,270
Total liabilities  25,043,855 26,815,459
Net assets:
Without donor restrictions  42,833,351  45,696,924
With donor restrictions  13,864,106  16,060,105
Total net assets  56,697,457 61,757,029
Total liabilities & net assets  81,741,312  88,572,488

Statements of Activities

2020 2019
Support & revenue:
Archbishop’s Catholic Appeal contributions, net  8,504,762  8,419,104
Parish assessments, net  7,568,408  7,258,435
Grants & contributions  2,153,601  3,234,233
Other support  14,774  5,975
Total support  18,241,545 18,917,747
Revenue:
Advertising  493,294  480,787
Program & service, net  2,098,075  3,485,404
Other income  1,046,378  1,328,278
Investment income, net  2,191,614  946,901
Total revenue  5,829,361  6,241,370
Total support & revenue  24,070,906  25,159,117
Expenses:
Program expenses:
Religious education & schools  4,585,381  3,735,720
Catholic communications  2,006,594  2,230,163
Social development  2,808,810  2,942,948
Spiritual & pastoral concerns  4,813,214  4,996,706
Religious & ordained ministries  4,042,905  4,642,503
Evangelization  2,116,650  2,428,916
Total program expenses  20,373,554  20,976,956
Support & administrative expenses  2,471,541  1,942,320
Development & fundraising  6,285,383  5,360,754
Total expenses  29,130,478  28,280,030
Decrease in net assets  (5,059,572)  (3,120,913)

The St. John Paul II Center for the New Evangelization

The St. John Paul II Center, a Colorado nonprofit corporation, is located at 1300 S. Steele St. and was established in 1996. The center provides Catholics with a gathering place for meetings, education, marriage preparation classes, liturgies and classroom instruction in Scripture and Church doctrine. In addition, the St. John Paul II Center houses the Archdiocese of Denver’s Pastoral Center, the St. John Vianney Theological Seminary, the Redemptoris Mater House of Formation, the Carmelite Sisters of the Holy Trinity, the Holy Trinity Center, the Prophet Elijah House and the Cardinal Stafford Theological Library.

Statements of Financial Position

2020 2019
Assets:
Property & equipment, net  2,352,085  2,364,855
Total Assets  2,352,085 2,364,855
Liabilities & net assets:
Liabilities  –  –
Unrestricted net assets  2,352,085  2,364,855
Total liabilities & net assets  2,352,085  2,364,855

Statements of Activities

2020 2019
Revenue:
Grants & contributions  –  –
Total revenue  –  –
Expenses:
Program expenses – depreciation  12,770  12,769
Decrease in net assets  (12,770)  (12,769)

Archdiocese of Denver Management Corporation

Formed in March 1999, The Archdiocese of Denver Management Corporation is a Colorado nonprofit corporation that provides payroll, accounting, legal, real estate, construction, human resources and other management services to the archdiocese, the parishes in northern Colorado and various ecclesiastical entities, pursuant to service agreements.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  –  –
Prepaid expenses & other assets  74,135  73,990
Accounts & other receivables, net  1,930  1,369
Due from other related entities & parishes  348,579  2,342,037
Property & equipment, net  102,775  159,340
Total assets  527,419  2,576,736
Liabilities & net assets:
Accounts payable & accrued expenses  647,699  752,280
Due to other related entities  1,069,184  2,939,702
Notes Payable  918,953
Total liabilities  2,635,836  3,691,982
Net assets  (2,108,417)  (1,115,246)
Total liabilities & net assets  527,419  2,576,736

Statements of Activities

2020 2019
Support & revenue:
Management & service fees  7,277,232  7,416,148
Other income  –  283
Total support & revenue  7,277,232  7,416,431
Expenses:
Support & administrative expenses  8,270,403  7,768,760
Total expenses  8,270,403  7,768,760
Decrease in net assets  (993,171)  (352,329)

Seminaries

Redemptoris Mater House of Formation

Redemptoris Mater House of Formation (RM), a Colorado nonprofit corporation, was established in 1996 by the archdiocese as an archdiocesan missionary seminary. RM prepares men for the priesthood who come from all over the world ready to serve the Catholic Church, according to the direction of Presbyterorum Ordinis, No. 10.

Highlights

The Redemptoris Mater Missionary Seminary was founded in 1996 to form archdiocesan and missionary priests to serve the universal Church and the local one in Denver, where they are needed. Redemptoris Mater welcomes seminarians from 12 different countries of origin to the Archdiocese of Denver. Moreover, while the seminarians share the same academics with the men studying at St. John Vianney, the Neo Catechumenal Way offers Redemptoris Mater seminarians an itinerary of formation into an adult faith and a concrete Christian community inserted in a particular local parish.

Both seminary formation and this itinerary of faith in a particular community aim to grow their human, spiritual, intellectual, and pastoral formations, which is fundamental in their growth as Christians, especially when one faces this increasing secularized society. Upon ordination, the archbishop may send the new priests to local parishes or to a missionary assignment.

Despite the numerous challenges due to the coronavirus pandemic, Redemptoris Mater welcomed three new candidates to the seminary: Sebastian Rubio, Eric Eccleston, and Jean Marco Cajamarca, totaling 28 seminarians. They were delighted to see John Almeida ordained as a transitional deacon and glad to accompany Father Juan Manuel Madrid in his ordination to the priesthood. In November, two seminarians advanced in their formation towards the priesthood by receiving the ministry of acolyte: Guilherme Mendes and Manuel Alarcon.

One special moment of the year of 2020 was when the seminarians were sent for a period to different parishes of the archdiocese to live an intense time of mission and pastoral experience serving numerous families in crisis and need due to the pandemic. Another special moment was when they participated in a mission two-by-two in the Archdiocese and in the neighboring dioceses for a week announcing the Gospel and relying completely on God. Over this past year, Redemptoris Mater has truly felt honored for experiencing the providence of God.

Statements of Financial Position

2020 2019
Assets:
Other assets  2,362  24,100
Due from other organizations  24,548  4,857
Property & equipment, net  72,304  65,618
Total assets  99,214  94,575
Liabilities & net assets:
Accounts payable & accruals  9,420  9,545
Due to Archdiocese of Denver  484,504
Notes Payable  84,000
Total Liabilities  577,924  9,545
Net assets:
Without donor restrictions  (499,438)  65,808
With donor restrictions  20,728  19,222
Total net assets  (478,710)  85,030
Total liabilities & net assets  99,214  94,575

Statements of Activities

2020 2019
Support & revenue:
Grants & contributions  740,632  1,406,412
Fundraising & other  450,580  463,905
Total revenue & support  1,191,212 1,870,317
Expenses:
Program expenses  1,506,359  1,625,890
Support & administrative expenses 160,051 165,026
Development & fundraising  88,542  81,180
Total expenses  1,754,952 1,872,096
Decrease in net assets  (563,740)  (1,779)

St. John Vianney Theological Seminary

St. John Vianney Theological Seminary (SJV) is a Colorado nonprofit corporation that was established in 1999 to provide seminary formation and other programs for the education of seminarians, permanent deacons and members of the laity. In addition to the seminary, SJV operates the Cardinal Stafford Theological Library, the St. Francis School of Theology for Deacons and the Division of Lay Formation, including the Catholic Biblical Redemptoris Mater and Catechetical Schools for the education of the laity.

Highlights

The Archdiocese of Denver is blessed to have two seminaries forming the future priests for 13 dioceses: St. John Vianney Theological Seminary and Redemptoris Mater Missionary Seminary. Young men come from all over the world to study for the priesthood at these two renowned seminaries.

In 2020, four men were ordained to the transitional diaconate for the Archdiocese of Denver, while Archbishop Aquila ordained five men as priests for the Archdiocese of Denver. This coming year will see even more ordinations, of both priests and deacons. On Feb. 13, eight men were ordained to the transitional diaconate for the archdiocese. Additionally, the St. Francis School of Theology for Deacons, a division of St. John Vianney Theological Seminary, will ordain 19 men this coming June to the permanent diaconate. Last but certainly not least, in May, 6 men will be ordained as priests to serve the faithful of the archdiocese.

The two seminaries are currently educating and forming a total of 107 men for the priesthood, 48 of whom are discerning to serve as future priests for the Archdiocese of Denver. They will be joined by another 56 men who will be ordained to the permanent diaconate.

It takes an average of seven years of study before a man is ordained. Once ordained to the priesthood, these men will serve the faithful for an average of nearly 50 years. The seminaries are committed to forming the future generation of priests through robust spiritual and academic formation, and they are formed with the intent of leading the faithful they serve to an encounter with Jesus Christ.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  2,423,949  1,422,905
Prepaid expenses & other assets  75,142  81,033
Contribution & accounts receivable, net  213,522  18,886
Property & equipment, net  9,220,734  9,435,284
Total assets  11,933,347  10,958,108
Liabilities & net assets:
Accounts payable & accruals  334,959   311,166
Funds held in trust for others  106,509  103,255
Deferred tuition income  24,261  79,876
Notes Payable  920,300   –
Total Liabilities  1,386,029   494,297
Net assets:
Without donor restrictions  10,135,423  10,186,045
With donor restrictions  411,895  277,766
Total net assets  10,547,318  10,463,811
Total liabilities & net assets  11,933,347  10,958,108

Statements of Activities

Support & revenue: 2020 2019
Support:
Grants & contributions  2,948,777  2,788,221
Revenue:
Program & service  108,744  96,554
Fundraising & special events  1,428,688  1,175,439
Tuition income  3,839,100  3,911,155
Investment & other income, net  6,925  10,380
Total revenue  5,383,457  5,193,528
Total revenue & support  8,332,234  7,981,749
Expenses:
Religious education & schools  1,623,545  1,965,033
Religious & ordained ministries  4,609,268  5,578,758
Gifts & Grants:
Support & administrative expenses 1,715,369 29,948
Development & fundraising  300,546  322,016
Total expenses  8,248,728  7,895,755
Increase / (Decrease) in net assets  83,506  85,994

Family of Nazareth, Inc.

Family of Nazareth (FN) is a Colorado nonprofit corporation established in 1998. FN primarily assists the Redemptoris Mater Seminary and supports the work of the New Evangelization and all persons connected with the mission of the Neocatechumenal Way. FN procures real and personal properties as deemed necessary to carry out the missionary work of the New Evangelization

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  699,021  578,676
Prepaid expenses and other  10,510  7,325
Investment  –
Property & equipment, net  151,302  151,302
Total assets  860,833  737,303
Liabilities
Accounts payable & accruals  –  104
Total liabilities    104
Net assets:
Without donor restrictions  654,723  531,089
With donor restrictions  206,110  206,110
Total net assets  860,833  737,199
Total liabilities & net assets  860,833  737,303

Statements of Activities

2020 2019
Support & revenue:
Grants & contributions  203,350  155,992
Fundraising  37,082  71,425
Revenue:
Program revenues  1,141
Investment & other income  1,869  2,291
Total revenue  1,869  3,432
Total revenue & support  242,301  230,849
Expenses:
Program expenses  114,846  208,205
Support & administrative expenses  –  10,721
Development & fundraising  3,823  13,304
Total expenses  118,669  232,230
Decrease in net assets­  123,632  (1,381)

Catholic Education

Frassati Catholic Academy, Inc.

Frassati Catholic Academy, Inc., is a K-8 school located in Thornton, Colorado. Founded in 2017, it seeks to equip its students to be the leaders of tomorrow by utilizing the classical model of education, which places an emphasis on the three pillars of grammar, logic, and rhetoric. It also fosters strong faith formation through a steadfast commitment to the teachings of Jesus Christ and his Church.

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In 2020, Frassati Catholic Academy grew to 318 students in prekindergarten through 8th grade and joyfully returned to in-person learning in August. Teachers and staff are proud to be advancing the school’s mission of leading students to the heights of the intellect and the depths of the soul to form authentic disciples who bear joyful witness to Christ. Newly implemented safety protocols also brought many blessings to Frassati: Mass is now celebrated at school four times a week and set times for reconciliation and adoration of the Most Blessed Sacrament are scheduled for each cohort every Friday.   

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  1,228,214  887,994
Debt service fund  331,808  331,841
Tuition receivable, net  2,168  4,476
Prepaid expenses & other assets  5,455  5,414
Property & equipment, net  10,659,500  10,935,784
Total assets  12,227,145  12,165,509
Liabilities & net assets:
Accounts payable & accrued expenses  180,229  108,225
Due to other related entities
Tuition & fees paid in advance  24,602  36,494
Funds held in trust for others
Line of Credit  3,011,974  2,711,298
Bond payable, less issuance costs  11,399,054  11,478,336
Total liabilities  14,615,859  14,334,353
Net assets:
Without donor restrictions  (2,391,806)  (2,168,844)
With donor restrictions  3,092
Total net assets  (2,388,714)  (2,168,844)
Total liabilities & net assets  12,227,145  12,165,509

Statements of Activities

2020 2019
Operating revenues:
Tuition income, net  1,402,224  1,092,486
Schools’ fund grants  223,600  223,600
Student fees and other operating revenues  108,752  120,278
Other Income  –
Total operating revenue  1,734,576  1,436,364
Operating expenses:
Educational activities  1,976,010  1,933,173
Support & administration  348,353  337,559
Total operating expenses  2,324,363  2,270,732
Loss from operations  (589,787)  (834,368)
Non-operating support and expenses:
Grants & other contributions  334,863  323,763
Special events, net of expenses  10,431  54,377
Investment & other income  16,878  17,061
Rental income  7,745  7,551
Development, fundraising & other expenses, net  –  –
Net non-operating support  369,917  402,752
Decrease in net assets  (219,870)  (431,616)

Holy Family High School, Inc.

Based on the teachings of Jesus Christ, Holy Family High School, Inc. (HFHS) seeks to provide a Catholic learning environment that stresses academic excellence, fosters mutual respect, demands responsibility and encourages self-growth. Although HFHS was established as a Colorado nonprofit corporation in Broomfield as recently as 1999, HFHS has a 95-year-long tradition of excellence in education and continues that tradition as a family of faith.

Highlights

After being forced into remote learning to finish the 2019-20 school year, Holy Family High School resolved to welcome their students back in-person for the 2020-21 school year. After lengthy planning with local health officials, Holy Family was one of only a handful of schools in the state to be entirely in-person for the Fall 2020 semester, completing 75 days of classes without interruption.

Enrollment reached an all-time high in 2020 with just over 700 students – including a record number of transfer students. Applications for the incoming freshman class, the Class of 2025, also reached an all-time high of just over 275.

Academically, 233 Holy Family students took an AP class – participating in a total of 444 AP tests. 76% of AP tests taken by students had scores of 3 or higher, while the national average is 59.5%. Holy Family graduated 149 students in the Class of 2020 at a July commencement ceremony. They were awarded over $15 million in scholarships and awards.
Holy Family also hired nearly a dozen educators to the teaching faculty. 80% of the Holy Family faculty holds an advanced degree (masters or higher).

Students thrived both in the classroom and in athletics. Highlighted by a 4A state championship in softball, Holy Family athletes had many notable accomplishments: girls basketball reached the 4A championship game (game eventually canceled due to COVID-19); football won the Colorado League title and reached the 3A state semifinals; girls cross country finished in 2nd place as a team at the 3A state meet while the boys’ cross-country team placed a runner 10th overall individually; and the boys’ golf team sent two golfers to the 3A state tournament.

In a year that brought many challenges and significantly altered fundraising campaigns and events, Holy Family adjusted. The Holy Family Advancement Department held annual events like the Tiger Gala, Tiger Golf Classic, Tiger Fun Run, and the Christmas Tree & Wreath Fundraiser. Holy Family also executed a fundraising campaign for Colorado Gives Day and an Annual Appeal. In total, over $650,000 was raised across all initiatives.

Additional fundraising was also initiated for a new tennis complex on the Holy Family Campus. The first-ever tennis facility of its size in the Archdiocese of Denver will feature seven new championship quality courts. The complex will provide Holy Family with a valuable athletic resource for generations to come.

Holy Family refinanced both a capital bond and a construction loan in 2020, resulting in a significant savings for the school. Holy Family also applied for, and received forgiveness for, a PPP loan.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  3,171,940  2,582,865
Cash & short-term investments held in trust or restricted  406,363  2,959,756
Tuition receivable and other  assets, net  221,172  14,870
Contributions receivable, net  1,721,775  2,670,354
Investments  3,859,983  3,829,473
Property & equipment, net  24,637,056  21,171,549
Total assets  34,018,289  33,228,867
Liabilities & net assets:
Accounts payable & accrued expenses  855,271  4,311,284
Funds held in trust for others  179,970  131,456
Tuition & fees paid in advance  500,509  520,739
Bonds & Notes Payable  12,374,848  7,368,441
Total liabilities  13,910,598  12,331,920
Net assets:
Without donor restrictions  14,230,716  13,809,495
With donor restrictions  5,876,975  7,087,452
Total net assets  20,107,691  20,896,947
Total liabilities & net assets  34,018,289  33,228,867

Statements of Activities

2020 2019
Operating revenues:
Tuition income, net  7,103,822  6,925,719
Schools’ fund grants  433,600  433,600
Student fees & other operating revenues  1,061,058  1,035,344
Total operating revenues  8,598,480  8,394,663
Operating expenses:
Educational activities  9,082,893  7,941,815
Support & administration  611,748  565,024
Total operating expenses  9,694,641  8,506,839
Gain from operations  (1,096,161)  (112,176)
Non-operating support & expenses:
Contributions  394,933  1,272,380
Special events, net of expenses  321,801  495,707
Investment income, net  51,686  280,271
Development, fundraising & other expenses, net  (467,346)  (489,725)
Gain on sale of fixed assets  5,831
Net non-operating support  306,905  1,558,633
Increase in net assets  (789,256)  1,446,457

Bishop Machebuef High School, Inc.

Bishop Machebeuf High School, Inc. (BMHS) is a Catholic college-preparatory high school that is committed to integrating faith formation and supporting a diverse, college-bound community. BMHS is a Colorado nonprofit corporation, located in the Lowry neighborhood of east Denver. BMHS was founded in 1958 as a coeducational Catholic school for students in grades nine through twelve.

Highlights

During the 2019-2020 school year at Bishop Machebeuf High School, the Machebeuf Community, in collaboration with the Office of Catholic Schools of the Archdiocese of Denver, discerned an important evolution in the academic curriculum at Bishop Machebeuf. Taking the best of the college preparation track and the classical track, Bishop Machebeuf High School moved in the direction of launching a new integrated curriculum. Launched in the Fall 2020 academic year, this new integrated curriculum takes elements of classical education and fuses them with the traditional college-preparation curriculum for a more robust and intentional Catholic educational experience.

Under the leadership of Ms. Kellie Carroll and her team, faith, campus ministry, academics and school spirit were celebrated. With the arrival of COVID-19, the fourth quarter of the academic year witnessed a smooth transition to remote learning. While students were off campus for the remainder of the year, the Class of 2020 were given opportunities to celebrate some of the senior year traditions. During the summer, a Mass of the Holy Spirit with Commencement and Commissioning were celebrated at Queen of Peace Church for the Class of 2020.

Finally, the end of the school year 2019-2020 witnessed the move to the President-Principal Leadership model to promote the launch of the new curriculum and outreach to the Machebeuf community.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  437,893  474,955
Cash & short-term investments held in trust or restricted  123,998  105,473
Tuition receivable, net  55,866  1,756
Prepaid expenses & other assets  28,250  33,103
Contributions receivable  –  12,000
Property & equipment, net  6,680,481  7,069,668
Total assets  7,326,488  7,696,955
Liabilities & net assets:
Accounts payable & accrued expenses  244,262  285,435
Due to other related entities  –  5,399
Tuition & fees paid in advance  167,550  213,435
Funds held in trust for others  44,546  26,181
Note payable to Archdiocese of Denver  3,456,174  2,907,391
Total liabilities  3,912,532  3,437,841
Net assets:
Without donor restrictions  3,306,254  4,138,244
With donor restrictions  107,702  120,870
Total net assets  3,413,956  4,259,114
Total liabilities & net assets  7,326,488  7,696,955

Statements of Activities

2020 2019
Operating revenues:
Tuition income, net  2,441,018  2,719,644
Schools’ fund grants  205,600  205,600
Student fees and other operating revenues  480,557  395,274
Total operating revenue  3,127,175  3,320,518
Operating expenses:
Educational activities  3,522,320  3,951,734
Support & administration  543,773  621,692
Total operating expenses  4,066,093  4,573,426
Loss from operations  (938,918)  (1,252,908)
Non-operating support and expenses:
Contributions  315,522  345,787
Special events, net of expenses  61,643  56,432
Investment & other income  685  2,246
Development, fundraising & other expenses, net  (284,090)  (378,955)
Net non-operating support  93,760  25,510
Decrease in net assets  (845,158)  (1,227,398)

Seeds of Hope of Northern Colorado, Inc.

The mission of Seeds of Hope is to cultivate minds and hearts for Christ by striving to make a transformative Catholic education financially accessible to any family who seeks it. It is our belief that students and families who desire the benefits of Catholic education should not be turned away because of finances anywhere in the Archdiocese of Denver.

Highlights

For Seeds of Hope, a ministry of the Archdiocese of Denver that strives to make a transformative Catholic education financially accessible to any family, 2020 will be remembered as the year the community exhibited new heights of generosity to help the organization fulfill its mission.

When the pandemic took hold and it was apparent schools were going to have to pivot to a new style of teaching, Seeds of Hope teamed up with the Archdiocese of Denver to launch the Catholic Schools Emergency Relief Fund (CSERF). The initial hope was to raise enough funds to help buy some computers for students to use for distance learning and maybe have some leftover to help families, teachers and schools who would be suffering because of the harsh realities created by the pandemic.

What started with some modest goals soon exploded to levels neither Seeds of Hope nor the Archdiocese of Denver could have predicted. Realizing Catholic schools were in distress and leaping at the chance to help, generous donors across the Archdiocese created a true phenomenon and in the span of less than 90 days, donated more than $670,000 to the CSERF! This funding helped provide more than 600 Google Chromebooks for schools and emergency tuition assistance for hundreds of K-12 Catholic school families who had fallen behind on tuition payments, supported schools with needed supplies to re-open safely and helped launch the St. Isidore Online Curriculum program for the Office of Catholic Schools.

The generosity showered on Seeds of Hope by the community with was not limited just to the CSERF. Through Hope Scholarships, Seeds of Hope provided tuition assistance to 861 K-8 students at 29 schools across the Archdiocese. Outside of Hope Scholarships, additional contributions also flowed through Seeds of Hope to directly support the needs of K-8 Catholic schools.

In all, through grants, events, contributions and the CSERF, Seeds of Hope buoyed each one of the 37 Archdiocese of Denver K-12 schools in the 2019-20 school year, providing more than $2.1 million in total support.

Any K-8 student at any Archdiocese of Denver Catholic school who meets Seeds of Hope household income guidelines is eligible to apply for Seeds of Hope tuition assistance. Seeds of Hope does not fully scholarship any family, offering awards in the range of $500-$3,000, and all families contribute to their students’ tuition. This creates a partnership between Seeds of Hope and its families and this contribution from the family helps create a sense of pride and accountability.

For the third consecutive year, Seeds of Hope also partnered with the Office of Catholic Schools on the Variable Tuition Program, an online tool that provides participating schools with a standardized framework to calculate fair and equitable tuition for families based on a family’s and school’s financial position.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  2,462,207  1,942,088
Parish assessments receivable, net  194,343  343,800
Contributions receivable  293,612  277,299
Investments  8,296,940  8,017,761
Other assets, net  19,645  8,361
Total assets  11,266,747  10,589,309
Liabilities & net assets:
Accounts payable & accruals  29,057  27,584
Grants payable  11,495
Event Advances  36,550
Notes Payable  54,200
Total liabilities  131,302  27,584
Net assets:
Without donor restrictions  1,817,294  1,878,483
With donor restrictions  9,318,151  8,683,242
Total net assets  11,135,445  10,561,725
Total liabilities & net assets  11,266,747  10,589,309

Statements of Activities

2020 2019
Support and revenue:
Gifts and grants, net  2,169,122  1,486,594
Special events, net  415,528  471,719
Parish assessments  562,656  562,407
Investment income, net  296,023  363,040
Total support & revenue  3,443,329  2,883,760
Expenses:
Grants to schools and students  2,117,050  2,017,104
Grant making expenses  413,285  518,210
Total program expenses  2,530,335  2,535,314
Supporting services:
Management and general  86,770  84,671
Development and fundraising  252,504  297,432
Total supporting services  339,274  382,103
Total expenses  2,869,609  2,917,417
Decrease in net assets  573,720  (33,657)

Cemetery and Mortuary

St. Simeon Cemetery Association

St. Simeon Cemetery, located in Aurora, is a Colorado nonprofit corporation that was established in 2000.

Highlights

In 2020, CFCS Colorado met an extreme challenge given their Corporal Work of Mercy of “Burying the Dead” as they responded to the COVID-19 pandemic. In one of their locations, the Archdiocese of Denver Mortuary, they saw an increase of 187 cases compared to calendar year 2019, an approximately 25% increase in funeral cases. Likewise, they experienced similar increases at Mount Olivet Catholic Cemetery and Saint Simeon Catholic Cemetery.

A crucial facet of CFCS Colorado’s ministry is providing burial services for those who cannot afford to pay for one. The cemeteries provided 134 of these indigent burials, an increase of 43 from the previous calendar year. Likewise, the cemeteries also buried 303 babies through their Precious Life Program (free burial to families who lose a loved one before birth). They also placed, at no charge, the cremated remains of 36 persons into reserved crypt space through the Crypt of All Souls program.

As the only ministry within the Archdiocese of Denver which provides support to other ministries through revenue generation, CFCS Colorado was still able to meet their budget despite the tremendous challenges they experienced as a result of COVID-19. In so doing, they were able to provide significant financial support to the Redemptoris Mater Missionary Seminary.
In 2020, CFCS Colorado met an extreme challenge given their Corporal Work of Mercy of “Burying the Dead” as they responded to the COVID-19 pandemic. In one of their locations, the Archdiocese of Denver Mortuary, they saw an increase of 187 cases compared to calendar year 2019, an approximately 25% increase in funeral cases. Likewise, they experienced similar increases at Mount Olivet Catholic Cemetery and Saint Simeon Catholic Cemetery.

A crucial facet of CFCS Colorado’s ministry is providing burial services for those who cannot afford to pay for one. The cemeteries provided 134 of these indigent burials, an increase of 43 from the previous calendar year. Likewise, the cemeteries also buried 303 babies through their Precious Life Program (free burial to families who lose a loved one before birth). They also placed, at no charge, the cremated remains of 36 persons into reserved crypt space through the Crypt of All Souls program.

As the only ministry within the Archdiocese of Denver which provides support to other ministries through revenue generation, CFCS Colorado was still able to meet their budget despite the tremendous challenges they experienced as a result of COVID-19. In so doing, they were able to provide significant financial support to the Redemptoris Mater Missionary Seminary.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  589,986  49,010
Accounts receivable, net of allowances  493,414  399,962
Due from other Archdiocesan entities  –  254,243
Inventories & prepaid assets  793,222  857,858
Investments  460,938  391,374
Property & equipment, net  3,999,590  4,086,363
Total assets  6,337,150  6,038,810
Liabilities & net assets:
Accounts payable  (115,678)  24,687
Due to AOD Organizations  –  2,077
Note payable to Mt. Olivet  345,082  423,667
Pre need trust  544,955  479,005
Total liabilities  774,359  929,436
Net assets:
Without donor restrictions  5,557,686  5,104,269
With donor restrictions  5,105  5,105
Total net assets  5,562,791  5,109,374
Total liabilities & net assets  6,337,150  6,038,810

Statements of Activities

2020 2019
Support & revenue:
Cemetery sales  1,166,922  1,093,858
Grants & contributions  100,164  254,243
Investment income, net  4,023  6,113
Other income  (661)  205
Total support & revenue  1,270,448  1,354,419
Expenses:
Cemetery operating costs  513,043  528,558
Support & administrative expenses  303,988  294,825
Total expenses  817,031  823,383
Increase in net assets  453,417  531,036

Archdiocese of Denver Mortuary at Mt. Olivet, Inc.

The Archdiocese of Denver Mortuary, located on the grounds of Mount Olivet Cemetery, is a Colorado nonprofit corporation committed to serving the Church as a symbol of the community of faith unbroken by death. The mortuary was established in 1981 to ensure that proper dignity would be provided to the beloved dead and their grieving families, and to offer funeral services at affordable costs to the Catholic community, especially the poor.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  2,189,817  1,259,041
Accounts receivable, net  3,305,017  2,738,319
Prepaid expenses & other  398,970  76,715
Restricted investments  33,613,583  31,713,575
Property & equipment, net  2,436,688  2,499,380
Total assets  41,944,075  38,287,030
Liabilities & net assets:
Accounts payable & accrued liabilities  383,607  308,273
Pre-need trust  17,318,752  16,231,159
Notes Payable  351,536
Total liabilities  18,053,895  16,539,432
Net assets:
Without donor restrictions  23,890,180  21,747,598
With donor restrictions
Total Net Assets  23,890,180  21,747,598
Total liabilities & net assets  41,944,075  38,287,030

Statements of Activities

2020 2019
Support & revenue:
Mortuary sales  3,747,768  4,369,252
Other Income  4,109  28,607
Investment income, net  1,007,334  1,713,648
Total support & revenue  4,759,211  6,111,507
Expenses:
Mortuary operating expenses  1,432,172  3,318,027
Gifts & grants  –  –
Support & administrative expenses  1,184,457  1,114,399
Total expenses  2,616,629  4,432,426
Increase in net assets  2,142,582  1,679,081

Mt. Olivet Cemetary Association

Mount Olivet Cemetery Association (MTO) is a Colorado nonprofit corporation and is located in Wheat Ridge. It was consecrated in 1891. By burying the dead and comforting the bereaved, the staff of MTO teaches the faithful to look beyond earthly existence and thereby deepen faith in eternal salvation and life everlasting in the Lord.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  468,507  –
Inventories  4,160,317  3,581,283
Accounts receivable, net  4,883,308  4,090,869
Due from other AOD entities  –  1,382,712
Investments, net  18,311,164  17,355,633
Property & equipment, net  11,940,960  11,621,227
Total assets  39,764,256  38,031,724
Liabilities & net assets:
Accounts payable & accrued expenses  1,222,211  988,668
Pre need trust  9,188,831  8,606,170
Notes Payable  724,700
Total liabilities  11,135,742  9,594,838
Net assets:
Without donor restrictions  28,628,514  27,936,886
With donor restrictions  –  500,000
Total net assets  28,628,514  28,436,886
Total liabilities & net assets  39,764,256  38,031,724

Statements of Activities

2020 2019
Support & revenue:
Cemetery sales  7,051,284  7,201,639
Miscellaneous support, net  –  3,205,668
Rental & miscellaneous income  227,914  216,638
Investment income, net  530,679  920,772
Total support & revenue  7,809,877   11,544,717
Expenses:
Cemetery operating costs  4,068,743  5,149,738
Support & administrative expenses  3,549,506  3,421,462
Total expenses  7,618,249  8,571,200
Increase in net assets  191,628  2,973,517

Cemeteries Perpetual Care Trust

The Perpetual Care Trust funds are dedicated in perpetuity for the ongoing maintenance of the beautiful pastoral setting that characterizes both Mount Olivet and St. Simeon cemeteries.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  140,707  117,612
Prepaid expenses  –  –
Due from other AOD entities  –  73,190
Restricted investments  10,633,883  13,638,801
Total assets  10,774,590  13,829,603
Liabilities & net assets:
Accounts payable  –  12,212
Due to other AOD entities  –  3,459,109
Total liabilities    3,471,321
Net assets:
Without donor restrictions  10,774,590  10,358,282
Total liabilities & net assets  10,774,590  13,829,603

Statements of Activities

2020 2019
Support & revenue:
Investment income, net  222,501  385,999
Grants & Contributions  215,631  262,119
Total Support & revenue  438,132  648,118
Expenses:
Program expenses  –  3,459,109
Support & administrative expenses  21,825  15,049
Total expenses  21,825  3,474,158
Decrease in net assets  416,307  (2,826,040)

Trust

Archdiocese of Denver Irrevocable Revolving Fund Trust

The Archdiocese of Denver Irrevocable Revolving Fund Trust is a religious and charitable trust organized to build up the Kingdom of God within the territory of the archdiocese. While the trust holds legal title to its assets, the equitable and beneficial owners of its assets belong to, and are owned by each parish and other related ecclesiastical entities participating in the trust. The trust allows parishes and other related entities within the territory of the archdiocese to obtain competitive terms for depositing, withdrawing and borrowing money.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  16,260,136  16,592,260
Prepaid expenses & other  450  520
Loans receivable  21,185,776  16,797,681
Investments, net  51,734,377  50,366,579
Total assets  89,180,739  83,757,040
Liabilities & net assets:
Due to related entities & other  64,198  53,314
Saving deposits  79,676,139  74,945,194
Total liabilities  79,740,337  74,998,508
Net assets:
Without donor restrictions  9,440,402  8,758,532
Total liabilities & net assets  89,180,739  83,757,040

Statements of Activities

2020 2019
Interest income:
Loans, net  785,020  763,856
Investments, net  1,383,738  1,939,659
Total interest income  2,168,758  2,703,515
Interest expense  1,391,678  1,873,307
Net interest income  777,080  830,208
Realized and unrealized gains (losses) from investments, net  116,194  (235,809)
Other expenses, net:
Parish assistance grants  –  100,000
General & administrative expenses 211,404 218,904
Total other expenses  211,404  318,904
Increase in net assets  681,870 275,495

Archdiocese of Denver Risk Management & Property/Casualty Insurance Trust

The Archdiocese of Denver Risk Management and Property/Casualty Insurance Trust strives to protect parishes and other participating ecclesiastical entities within the territory of the archdiocese from catastrophic financial loss. Prevention and other cost-containment measures are stressed to minimize risk and control plan costs.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  (159,612)  6,706,230
Prepaid expenses & other assets  (162,799)  140,915
Accounts receivable  819,753  174,012
Due from parishes & other related entities, net  420,838  281,753
Investments  3,625,701  3,419,879
Total assets  4,543,881  10,722,789
Liabilities & net assets:
Accounts payable & accrued expenses  663,164  285,975
Claims payable  4,563,687  10,691,031
Total liabilities  5,226,851  10,977,006
Net assets:
Without donor restrictions  (682,970)  (254,217)
Total liabilities & net assets  4,543,881  10,722,789

Statements of Activities

2020 2019
Support & revenue:
Self insurance premiums & insurance billings  5,429,717  4,797,894
Investment income  203,499  169,781
Grants and contributions  –  155,000
Other income  919,263  85,851
Total support & revenue  6,552,479  5,208,526
Expenses:
Self insurance claims, premiums, settlements & other costs  3,413,935  12,991,285
Support & administrative expenses  3,567,299  1,595,419
Total expenses  6,981,234  14,586,704
(Decrease) / increase in net assets  (428,755)  (9,378,178)

Archdiocese of Denver Welfare Benefits Trust

The Archdiocese of Denver Welfare Benefits Trust provides access to quality health care to more than 2,000 employee participants, including: (1) archdiocesan, parish and related ecclesiastical entities’ employees, (2) the Diocese of Colorado Springs and the employees of its parishes and related ecclesiastical entities, and (3) Catholic Charities and Community Services of the Archdiocese of Denver, Inc.

Statements of Financial Position

2020 2019
Assets:
Cash & short term investments  5,800,037  5,973,317
Accounts receivable – other  141,691  436,735
Investments  5,224,961  5,226,538
Notes receivable  –  –
Due from parishes & other related entities, net  235,819  606,659
Total assets  11,402,508  12,243,249
Liabilities & net assets:
Accounts payable  277,534  175,920
Deferred revenue
Claims payable  4,132,500  3,960,900
Total liabilities  4,410,034  4,136,820
Net assets:
Without donor restrictions  6,992,474  8,106,429
Total liabilities & net assets  11,402,508  12,243,249

Statements of Activities

2020 2019
Revenue:
Self insurance premiums & insurance  29,895,123  27,613,413
Investment & other income  (6,865)  225,784
Total revenue  29,888,258  27,839,197
Expenses:
Self insurance claims, premiums, costs  30,007,828  27,692,289
Support & administrative expenses  994,385  1,652,337
Total expenses  31,002,213  29,344,626
(Decrease) / increase in net assets  (1,113,955)  (1,505,429)

Retreat Centers

Camp St. Malo Religious Retreat & Conference Center, Inc.

Camp St. Malo’s (Malo) mission is to provide retreat facilities in an inspirational setting for religious and spiritual gatherings for both youth and adults. Malo preserves the heritage of the original Camp St. Malo, its conference center, the papal visit and the Chapel on the Rock, pursues ways to support Catholic summer camps and Catholic outdoor/ecology education and is currently securing a location that would be suitable for the construction of an adult retreat and conference center.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  (393,122)  182,705
Notes Receivable – Other AOD Entities  5,085,669  5,083,836
Inventories & other assets  90,585  79,584
Investments, net  937,623  919,472
Property & equipment, net  7,582,124  9,646,861
Total assets  13,302,879  15,912,458
Liabilities & net assets:
Accounts payable & accrued expenses  14,264  164,096
Due to AOD Organizations  247  93,054
Deferred Revenue  57,200  42,000
Total Liabilities  71,711  299,150
Net assets:
Without donor restrictions  13,207,166  15,589,306
With donor restrictions  24,002  24,002
Total net assets  13,231,168  15,613,308
Total liabilities & net assets  13,302,879  15,912,458

Statements of Activities

2020 2019
Revenue:
Support revenues  25,740  102,504
Investment income (loss)  17,202  100,067
Other income  64,479  27,623
Total revenue, net  107,421  230,194
Expenses:
Administrative & other  2,489,562  412,091
Total expenses  2,489,562  412,091
Decrease in net assets  (2,382,141)  (181,897)

Annunciation Heights Retreat Center

Annunciation Heights is a new Catholic youth and family camp located just south of Estes Park in the Archdiocese of Denver. Acquired in late 2017, the four-lodge, 188-bed camp serves as home for new summer youth and family camps, spring and fall outdoor lab programs, and year round youth, college and parish ministry retreats. The camp is conveniently located two miles down the road from Camp St. Malo. Annunciation Heights launched new summer youth camps for boys and girls last year

Highlights

Annunciation Heights will always remember 2020 as an “epic year” – but for all the wrong reasons! Like all of the other ministries around the Archdiocese of Denver, they could never have planned for a global pandemic, family quarantines, school closures, Mass closures, and in October, ravaging fires that came within a few miles of the camp’s property and mandated an evacuation. Despite all of this, staying “on mission” has been the primary point of emphasis for the camp, and as always, the Lord has been with them step by step.

Though Annunciation Heights had to cancel most guest group retreats, summer youth camps and nearly all of the John Paul II Outdoor Lab programs, they were a still able to continue to host family camps in the summer and welcomed nearly 100 families who took part in summer family camp programming. Life at the Heights is always refreshing, but after the Spring quarantine, families this summer were especially thankful to leave the confines of home and bring their families to the Heights for adventure, fun and laughter, as well as faith formation and fellowship.

While the camp was closed, the team at Annunciation Heights took full advantage of the down time and completed a host of other projects on camp with the Altum Institute missionaries plus a volunteer work crew that came in for the month of June. They completed the renovation on the main chapel, built trails around the property, completed a much–needed forestry project and beautified the property throughout. They were also able to pivot the Outdoor Lab program by serving Catholic schools at their location when they could not come to camp. They welcomed a new class of Altum Institute Missionaries and were able through the assistance received from the PPP loan (which has already been forgiven) to keep their staff fully in place.

One of the best highlights from 2020 was the first annual “Fiat Fest and Adventure Race.” Thanks to a variance with Larimer County, Annunciation Heights hosted 175 people in a one–of–a–kind adventure race and cookout to support their missionaries. All the participants had an amazing time with the race, with the live bluegrass band and the wonderful meal. The event raised nearly $20,000 and they look forward to doing it again in 2021.

Statements of Financial Position

2020 2019
Assets:
Cash & cash equivalents  –  –
Inventory  24,884  –
Due from other AOD  (29)  99,843
Prepaid expenses & other assets  30,257  55,432
Contributions receivable  –  –
Property & equipment, net  4,083,681  3,994,903
Total assets  4,138,793  4,150,178
Liabilities & net assets:
Accounts payable & accrued expenses  105,405  138,480
Due to other related entities  1,486,882  359,709
Deferred Revenue  42,290  71,693
Notes payable  5,238,836  5,083,836
Total liabilities  6,873,413  5,653,718
Net assets:
Without donor restrictions  (2,838,980)  (1,560,347)
With donor restrictions  104,360  56,807
Total net assets  (2,734,620)  (1,503,540)
Total liabilities & net assets  4,138,793  4,150,178

Statements of Activities

2020 2019
Operating revenues:
Program income  513,792  580,991
Grants  80,173  141,170
Other Income  (6,739)  6,711
Total operating revenue  587,226  728,872
Operating expenses:
Total Program Expenses  325,338  361,385
Support & administration  1,492,969  1,479,079
Total operating expenses  1,818,307  1,840,464
Decrease in net assets  (1,231,081)  (1,111,592)