Profile | St. Mary of the Harbor

Church of St. Mary of the Harbor Profile

History Community Worship Outreach Finances Challenges Expectations

Finances

St. Mary of the Harbor is a financially stable and generous parish. Pledges support about 60% of our parish operating budget. Other sources of income are shown in the pie chart.

While Facilities Usage and Special Events do produce income, we consider making our facilities available to community groups at a modest rate as well as welcoming the entire community to fundraising events such as the Summer Fair to be a form of outreach as well.

Each year we try to cover expenses from income. The pandemic has made this more difficult. The bar graph shows income and expenses for the past 5 years.

In the few years required, we covered budget shortfalls with either special collections or

withdrawals from our savings. FY 2020 and 2021 were impacted by the Covid pandemic. We are beginning to recover but it will take time. We were able to cover expenses in 2020 and 2021 with the help of two PPP grants (which are not shown in the graph).

31Dec21 Balance Sheet

In FY 2022 and continuing through the first quarter of FY 2023, we have additional one-time non-operating income from the rental of our rectory. The Vestry rented the rectory to local workers since our interim rector lives in his own home in an adjacent town. While providing welcome income, the decision was also a gesture toward helping with the area housing shortage.

Our pledge campaign for FY 2023 is ongoing. We anticipate that we will meet our campaign goal of 70 pledges and $140,000 this year.

Our church, parish hall, and rectory are situated on the shore of Provincetown harbor. The church building was completely renovated a few years ago and now requires only routine maintenance. We recently replaced the roof, siding, and trim of the rectory. Our location exposes our facilities to the elements which dictates ongoing building maintenance to which we are committed as stewards of our sacred space.