Following the release in mid-November of audited financial statements for its Office for Financial Services, the Archdiocese of Philadelphia released 14 additional statements for 11 church entities on Friday, Dec. 15.
All the statements for the fiscal year ended June 30, 2017 were audited by the firm Grant Thornton.
Last month’s audited financial statements showed improvement of more than $200 million against underfunded balance sheet obligations since June 30, 2012. The archdiocese anticipates break-even operating results for the current fiscal year ending June 30, 2018.
The new statements include the following:
- Catholic Human Services: Catholic Community Services
- Catholic Human Services: Catholic Social Services
- Catholic Human Services: Saint Francis-Saint Joseph Homes for Children
- Catholic Human Services: Saint Gabriel’s System
- Catholic Human Services: Nutritional Development Services
- Office of Catholic Education: Administration Account
- Office of Catholic Education: High Schools
- Office of Catholic Education: Schools of Special Education
- Saint John’s Hospice
- Saint John Vianney Center
- The Philadelphia Theological Seminary of Saint Charles Borromeo
The archdiocese previously announced an outsourced management agreement and long-term lease regarding 13 Catholic cemeteries with StoneMor in September 2013. The audited financial statements for the three cemeteries-related entities were also published today.
- Office of Catholic Cemeteries
- Archdiocese of Philadelphia Cemetery Permanent Lot Care Fund Irrevocable Trust (“Perpetual Care Fund”)
- Philadelphia Catholic Cemeteries, LLC (“PCC”)
Additional audited financial statements for the Secretariat for Catholic Human Services, the Catholic Charities Appeal or the Heritage of Faith-Vision of Hope Capital Campaign will be published in coming weeks, according to the archdiocese.
None of the reports released by the archdiocese include financial statements for individual parishes, which are independent entities.
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