Annual Report 2008 - Catholic Charities of the Archdiocese of New ...

Catholic Charities Fiscal ReportCondensed Financial Statement (1)The Catholic Charities of the Archdiocese of New York provides certain direct community services in addition tocoordinating and supporting a federation of affiliated agencies. This condensed financial statement reflects the fiscalactivity 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.Pledge of Good Stewardshipand AccountabilityCatholic Charities of the Archdiocese ofNew York is committed to the higheststandards of good stewardship andaccountability. The Catholic Charitiesof the Archdiocese of New York isseparately incorporated according tothe not-for-profit laws of New York Statewith its own active Board of Trustees.An independent public accounting firmoverseen by the Audit Committee of theBoard of Trustees conducts an annualaudit of Catholic Charities finances.Funds received by Catholic Charities arecarefully monitored to ensure their usecomplies with donor intent. Funds aremaintained in separate accounts anddo not co-mingle with those ofthe Archdiocese of New York.Catholic Charities’ policies andprocedures have been reviewed andmeet the standards of the charitableaccountability of the Better BusinessBureau’s Philanthropic Advisory Service.Catholic Charities complies with allFederal, State, and Local laws regardingdiscrimination.Fiscal Year Ending August 31,2008 2007 2Revenues ($000) ($000)Cardinal’s Appeal $1,000 $500Bequests 2,698 1,812Appeals, Contributions and Events, Net 7,176 7,388Cardinal’s Committee for Charity, Net 588 1,256Grants from Foundations and Corporations 2,352 2,008Government Sources 21,554 14,694Program Fees and Income 4,718 4,904Disaster Funds - 678Other Supporting Sources 1,535 1,421Investment Dividends and Interest 845 83242,466 35,493ExpensesBehavioral Health (Beacon of Hope) 10,613 10,009Parish and Community Outreach 11,671 9,651Youth / Catholic Youth Organization (CYO) 3,462 3,379Migration Services 1,660 2,199Social and Community Development 1,599 1,280Disabled 838 749Disaster Assistance 619 120Agency Relations 4,412 2,540Fundraising 2,187 1,773Administration 3 5,119 4,84542,180 36,545Operating Results (286) (1,052)Realized / Unrealized Investment Gain (Loss) 1,383 1,552New York Catholic Foundation, Inc. 4 243 3,610Increase (Decrease) in net assets $845 $(4,110)Net Assets, end of year $39,567 $40,421(1) This condensed financial statement reflects the combined audited financial statementsof 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 CharitiesWorld Trade Center Support Fund, Catholic Charities Communities Services of theArchdiocese of New York, Housing Fund of the Archdiocese of New York, and HousingDevelopment Institute. (2) Certain amounts reported in 2007 have been reclassifiedto conform to management’s presentation of 2008. (3) Expenses are overwhelminglyprogram related. Approximately 12% is spent on administration and 5% is spent on fundraising.(4) Catholic Charities recognized the net present value of donations to the NewYork Catholic Foundation (Bicentennial Campaign). Distributions will be made by theFoundation periodically to support Catholic Charities programs and services.28 Annual Report 2008