Stewardship Report (Fiscal Year 2017)

Audited Statement of Activity July 1, 2016 to June 30, 2017

Revenues, Gains and Other Support

Salaries & benefits earned by the Sisters — $3,658,614: Sisters’ earnings are given 100 percent to the community. The sisters hold everything in common and own nothing individually. This total reflects the fact that some of our sisters serve in positions where the needs are great but the salaries are low.  This amount includes retirement funds, Social Security, inheritance, and gifts received by sisters also.

Investment income, net — $3,581,929: This represents all earnings/losses on investments, realized and unrealized.

Donors’ contributed gifts, grants and pledges — $6,426,782: These funds include gifts of cash, stock and pledges.  This amount is the gross total revenue received for the entire entity:  Monastery, Peru, and Hildegard Health Center, Inc.

Auxiliary income — $956,492: The majority of these revenues come from facility rental fees and inter-departmental revenues.

Hildegard Health Center, Inc. — $119,490:  This amount is (IGT) lease agreements and operating fees from Greene County Hospital doing business as Hildegard Health Center, Inc.

 Community ministries — $668,403: This is revenue from the sisters’ Spirituality Ministry (retreat work on and off the hill, Stillpoint, counseling, spiritual direction, and facilitation) and from Monastery Goods & Services gift shop and bakery.

Benet Hall — $2,466,895:  This relates to Benet Hall LP, which is an affordable senior housing unit on the sisters’ grounds.  This building was completed in October 2016, and includes 15 apartments for affordable senior housing.

Total Revenue, gains, and other support — $17,878,605

Expenses

Monastery support and administration — $4,117,907: This figure includes expenses for administration, fundraising, technology, communications, marketing and institutional costs including expenses to promote vocations to religious life.

Physical plant/operations — $3,877,927: This amount covers the expenses of maintaining and operating the monastery grounds and facilities, utilities, vehicles and fuel costs, food services, and the personal needs of sisters, as well as depreciation of fixed assets.

Health care — $1,353,583: This is the amount paid for direct medical expenses for all sisters, including those who are active, who are independent, and who need assisted care and long-term care.

Community ministries — $1,012,473: This amount includes expenses for Monastery Goods & Services, spirituality ministry, Peru foreign ministry, Stillpoint, and hospitality.

Sisters’ living expenses off the hill — $168,266: This amount is for food, rent, vehicles, and household costs. It does not include health care or monastery support services for those living off the hill. These costs enable sisters to minister in areas at some distance from the monastery.

Education/professional development — $113,860: This figure covers the costs of tuition for sisters’ education, professional licenses and expenses, fees for retreats and spiritual direction, continuing education, formation classes for new members, and ongoing formation of professed members.

Total expenses and losses — $10,644,016

Change in net assets – $7,234,589

Information was compiled from the June 30, 2017 audited financial for Monastery, Peru, and Hildegard Health Center, Inc.

Prepared as of October 24, 2017