• Skip to main content
  • Skip to secondary menu
  • Skip to primary sidebar
  • Skip to footer
Catholic Review

Catholic Review

Inspiring the Archdiocese of Baltimore

Menu
  • Home
  • News
        • Local News
        • World News
        • Vatican News
        • Obituaries
        • Featured Video
        • En Español
  • Commentary
        • Contributors
          • Bishop Robert Barron
          • George Weigel
          • Question Corner
          • Effie Caldarola
          • John Garvey
          • Father Ed Dougherty, M.M.
          • Guest Commentary
        • CR Columnists
          • Archbishop William E. Lori
          • Rita Buettner
          • Suzanna Molino Singleton
          • Christopher Gunty
          • George Matysek Jr.
          • Paul McMullen
          • Father Joseph Breighner
          • Father Collin Poston
          • Father T. Austin Murphy Jr.
          • Robyn Barberry
          • Hanael Bianchi
          • Amen Columns
  • Entertainment
        • Events
        • Movie Reviews
        • Arts & Culture
        • Books
  • About Us
        • Contact Us
        • Our History
        • Meet Our Staff
        • Photos to own
        • Books/CDs/Prayer Cards
  • Advertising
  • CR Radio
  • Printing
  • Subscribe
Coming on the heels of a fiscal year that saw a 3 percent increase in parish offertory giving and increased support for the Archbishop’s Annual Appeal, the Archdiocese of Baltimore’s total operating income increased by nearly $2.2 million.

Archdiocese of Baltimore releases financial report for Fiscal Year 2015-2016

George P. Matysek Jr. February 9, 2017
By George P. Matysek Jr.
Filed Under: Fiscal Services, Giving, Local News, News

Coming on the heels of a fiscal year that saw a 3 percent increase in parish offertory giving and increased support for the Archbishop’s Annual Appeal, the Archdiocese of Baltimore’s total operating income increased by nearly $2.2 million to $37.5 million in Fiscal Year 2015-16.

A downward turn in the market value of investments, however, combined with increased expenses related to retirement programs to produce an overall deficit of $19.7 million.

According to an archdiocesan annual financial report released in January, more than $14.2 million was contributed through parishes as a percentage of parishioners’ offertory donations (called the cathedraticum) to support archdiocesan ministries. Archdiocesan annual campaigns raised $11.4 million – a 17.5 percent increase from $9.7 million in the previous fiscal year.

“It’s always important to us that we are ensuring that we are proper stewards for the resources that we have,” said Bishop Adam J. Parker, moderator of the curia.

Bishop Parker said archdiocesan leaders give diligent attention to managing human resources properly and distributing grants in ways that “further the ministries that advance the kingdom of God.” He called the financial support Catholics have shown through their parishes and contributions to archdiocesan campaigns “a real positive sign of vitality and hope.”

William J. Baird III, chief financial officer for the archdiocese, noted that the archdiocese had a core operating surplus. Grants to sustain struggling Catholic schools and corrections in interest rates were among factors that contributed to the overall deficit, he said.

“Interest rates were lower,” he explained, “which means our liabilities and our pensions were higher.”

Baird added that the fiscal year closed June 30, right at the time financial markets took a big hit following the Brexit vote in Great Britain. Since then, he said, markets have recovered.

Baird said he evaluates archdiocesan investments at least monthly. A quarterly investment committee also evaluates the investments with the assistance of an advisor.

“We do stress tests on our pensions and stress tests on our investments to make sure that we’re matching our assets against our liabilities,” he said.

Bishop Parker and Baird credited the archdiocesan development department with helping parishes offer more than 100 programs to help them reach their stewardship goals and connect with donors in a more intentional way.

“A lot of the dollars collected in archdiocesan-wide campaigns get returned right back to the communities from where they come,” Baird said.

Among grants distributed in the last fiscal year, $10.3 million went to tuition assistance and subsidies; $328,000 for school building renovation; $500,000 for clergy-related programs; $3.3 million for Catholic Charities and $7.5 million in parish assistance.

In special collections held in parishes, Catholics showed the strongest support for collections related to the special care for diocesan priests ($342,953), retired religious ($342,457) and seminarians ($258,617).

The Catholic Center, which employs approximately 160, had a total operating expense of nearly $41 million, up from nearly $39 million in the previous fiscal year.

Print Print

Primary Sidebar

George P. Matysek Jr.

George P. Matysek Jr.

George Matysek was named digital editor of the Archdiocese of Baltimore in 2017 following two decades at the Catholic Review, where he began as a writer and then served as senior correspondent, assistant managing editor and web editor.

In his current role, he manages archbalt.org and CatholicReview.org and is a host of Catholic Review Radio.

George has won more than 70 national and regional journalism and broadcasting awards from the Maryland-Delaware-DC Press Association, the Catholic Press Association, the Associated Church Press and National Right to Life. He has reported from Guyana, Guatemala, Italy, the Czech Republic, Hungary and Poland.

A native Baltimorean, George is a proud graduate of Our Lady of Mount Carmel High School in Essex. He holds a bachelor's degree from Loyola University Maryland in Baltimore and a master's degree from UMBC.

George, his wife and five children live in Rodgers Forge, where they are parishioners of St. Pius X, Rodgers Forge/St. Mary of the Assumption, Govans.

View all posts from this author

For the latest news delivered twice a week via email or text message, sign up to receive our free enewsletter.

Latest Local News

Sister Frances McCabe, CBS, ministered in nursing, dies at 83

Social Ministry honoree brings Latin America experience to migrant issues

One year in: Families, institutions adjust to ongoing pandemic

Our daily bread: Irish tradition enjoyed on more than St. Patrick’s Day

RADIO INTERVIEW: How to pick a Bible translation

Latest World News

Living the beatitudes can change the world, pope says in Iraq

Hostility, violence are ‘betrayals’ of religion, pope says in Iraq

Pope, Iraqi Shiite leader affirm importance of dialogue, respect

Remains of Father Emil Kapaun, Korean War military chaplain, identified

Pope: Honor martyrs by remaining faithful, working for a better Iraq

Catholic Review Radio

CatholicReview · Catholic Review Radio

Footer

Our Vision

Catholic Review Media communicates the Gospel and its impact on people’s lives in the Archdiocese of Baltimore and beyond.

Our Mission

Catholic Review Media provides intergenerational communications that inform, teach, inspire and engage Catholics and all of good will in the mission of Christ through diverse forms of media.

Contact

Catholic Review
320 Cathedral Street
Baltimore, MD 21201
443-524-3150
mail@CatholicReview.org

 

Social Media

  • Facebook
  • Twitter
  • YouTube

Recent

  • Living the beatitudes can change the world, pope says in Iraq
  • Hostility, violence are ‘betrayals’ of religion, pope says in Iraq
  • Pope, Iraqi Shiite leader affirm importance of dialogue, respect
  • Remains of Father Emil Kapaun, Korean War military chaplain, identified
  • Treats for a Sunday, toy trains, and other pandemic fun (7 Quick Takes)
  • Ruling the heart
  • Pope: Honor martyrs by remaining faithful, working for a better Iraq
  • Sister Frances McCabe, CBS, ministered in nursing, dies at 83
  • Pope arrives in Iraq, promoting peace, tolerance, equality
  • Bishop Rhoades: Latest COVID-19 vaccine can be used in good conscience

Search

Membership

Catholic Press Association of the United States and Canada

Maryland-Delaware-DC Press Association

The Associated Church Press

© 2021 CATHOLIC REVIEW MEDIA, ALL RIGHTS RESERVED