November 8, 2015
Dear Fellow Parishioners,
Please find linked below the income statements for Our Lady of Mount Carmel Church (“OLMC”) and the Academy of Our Lady of Mount Carmel (the “Academy”) covering the period of July 1, 2014 to June 30, 2015. As you will see, both OLMC and the Academy ended the year with small surpluses.
With respect to the church, your generous weekly contributions are used to pay for expenses which you may similarly incur in your own homes, including expenses such as cleaning, repairs and maintenance, renovations, utilities, insurance, snow removal, and staff salaries. OLMC also has an obligation to pay an assessment to the Archdiocese of Newark each year. This assessment for 2015 was $168,347.
The only source of income to pay for all of these expenses, including the Archdiocese Assessment is from the generous support of our parishioners through the weekly Mass collections and other fundraising activities. Without this income, the church would not be able to provide the much needed services (e.g., baptisms, religious education, first communions, weddings, and funerals) for the church community.
Additionally, some parishioners have been very kind by providing “restricted use” donations that have been used solely for the specific purpose intended (e.g., church and rectory renovations such as replacement of the front steps, improved lighting, renovation of the narthex, altar flowers, and the renovation of the rectory porch, etc.). The “restricted use” funds are not used to pay the Archdiocese Assessment or the routine operating expenses of the parish. Additionally, some parishioners have made donations of securities (e.g., stocks) as part of their year-end tax or estate planning. Please speak with Father Dan should you wish to make similar forms of contributions.
We thank all of the OLMC parishioners for their continued financial support of our parish church. If you have any questions about how your generous contributions are being spent, please do not hesitate to ask a member of the Finance Committee, which is a dedicated group of lay parishioners appointed by the Carmelite pastors over the years to guide strategic planning, budget processes and maintain financial oversight of OLMC and Academy funds.
With respect to the Academy: It is a self-supporting Catholic elementary school with full enrollment and is a nationally recognized Blue Ribbon School of Excellence. Those words are almost never heard in the typical parish trying to sustain a Catholic school. Many thanks are in order here. First, to the faculty and staff who work so hard to provide such a solid education to the students; second, to the parents who pay the tuition and fees to keep the school strong; and, lastly, special thanks to the Parents’ Guild for all the energy, effort and ideas that keep the school so attractive and exciting.
Over the years, we have had the very unique gift of Father Leonard’s masterful leadership on both the church and the school. In Father Dan, now in his fifth month and his fourth pastorate, we have a very capable pastor, committed to continuing to build upon the great foundation established by Father Leonard. This committee would also like to acknowledge that for over 100 years, both our parish and school have benefited from the dedication and longstanding service of Carmelites, many religious sisters, deacons and all the prior parishioners that established our community of faith in Tenafly.
Yours faithfully,
OLMC Finance Committee
Benedetta Watros (Chair), Tom Izzard (Trustee), Joe Salvatore, Vincent Antonucci, David Oaten, Chip Clingham, Philip Reicherz, John Ogle, John Darmanin and Father Dan O’Neill
To view the report click HERE.