CAT-07201 Annual Report_029.indd - Catholic Charities of the ...

Catholic Charities Fiscal Report
Condensed
Financial Statement
of Activities 1
Pledge of Good Stewardship
and Accountability
Catholic Charities is committed to the
highest standards of good stewardship
and accountability. The Catholic Charities
of the Archdiocese of New York is
separately incorporated according to
the not-for-profit laws of New York State
with its own active Board of Trustees.
An independent public accounting firm,
overseen by the Audit Committee of the
Board of Trustees, conducts an annual
audit of Catholic Charities finances.
Funds received by Catholic Charities
are carefully monitored to ensure their
use complies with donor intent. Funds
are maintained in separate accounts
and do not co-mingle with those of
the Archdiocese of New York. Catholic
Charities’ policies and procedures have
been reviewed and meet the standards
of the charitable accountability of the
Better Business Bureau’s Philanthropic
Advisory Service. Catholic Charities
complies with all Federal, State and
Local laws regarding discrimination.
The Catholic Charities of the Archdiocese of New York
provides certain direct community services in addition
to coordinating and supporting a federation of affiliated
agencies. This condensed financial statement reflects the
fiscal activity related to these direct community services and
the coordination and support of the federation of agencies.
(An overview of the fiscal information for the federation of
Catholic Charities agencies is presented on the following page.)
Fiscal Year Ending August 31,
2007 2006 2
Revenues ($000) ($000)
Cardinal’s Appeal $500 $500
Bequests 1,812 2,255
Appeals, Contributions and Events, Net 7,388 6,803
Cardinal’s Committee for Charity, Net 1,186 757
Grants from Foundations and Corporations 2,008 1,964
Government Sources 14,694 14,433
Program Fees and Income 4,904 5,041
Disaster Funds 678 579
Other Supporting Sources 1,421 2,243
Investment Dividends and Interest 832 936
35,423 35,511
Expenses
Behavioral Health (Beacon of Hope) 10,009 10,268
Parish and Community Outreach 9,651 10,739
Youth / Catholic Youth Organization (CYO) 3,380 4,349
Migration 2,199 1,466
Social and Community Development 1,280 832
Disabled 749 924
Disaster Assistance 120 2,023
Agency Relations 2,540 1,388
Fundraising 1,773 1,431
Administration 3 4,805 5,012
36,506 38,432
Operating Results (1,083) (2,921)
Realized / Unrealized Investment Gain (Loss) 1,552 435
New York Catholic Foundation, Inc. 4 3,610 -
Increase (Decrease) in net assets $4,079 $(2,486)
Net Assets, end of year $40,391 $36,312
(1) This condensed financial statement reflects the combined audited financial statements
of The Catholic Charities of the Archdiocese of New York and Affiliates, as
follows: The Catholic Charities of the Archdiocese of New York, which includes Catholic
Charities World Trade Center Support Fund, Catholic Charities Communities Services of
the Archdiocese of New York, Housing Fund of the Archdiocese of New York, Housing
Development Institute and New York Institute for Human Development. (2) Certain
amounts reported in 2006 have been reclassified to conform to management’s presentation
of 2007. (3) Expenses are overwhelmingly program related. Approximately 13% is
spent on administration and 5% is spent on fundraising. (4) Catholic Charities recognized
the net present value of donations to the New York Catholic Foundation (Bicentennial
Campaign). Distributions will be made by the Foundation periodically to support
Catholic Charities programs and services.
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