Financial Update and Thank You

Brothers and Sisters, grace and peace to each of you.
 
It has been a great joy and indeed a sign of hope to see so many of you returning to Mass here at Nativity of Our Lord.

It’s a testament to the outstanding work of our parish staff, led by our COVID-19 response team, the many generous volunteers, and indeed all our parishioners who have cooperated together for an smooth transition back to public Masses in these ongoing challenging circumstances. Thank you!
 
I’d like to offer a series of updates for you post-reopening as something of a state of the parish over the next month or so. First, a brief financial update.
 
As you know, our COVID response has also required a great deal of financial planning and cooperation on the part of all of the above.

While we are by no means out of the woods, our outlook is brighter thanks to the generous donations of our parishioners, both in continuing stewardship pledges as well as offering emergency gifts — totaling $74,228 from 118 parishioners.  Again, thank you!
 
Back in the spring, as part of our financial planning and forecasting, and through close consultation with the parish Finance Council and Premier Banks, we applied for and received a Paycheck Protection Program (PPP) loan, directed by the U.S. Small Business Administration (SBA), to assist primarily with payroll-related expenses for an eight-week period defined by the Coronavirus Aid, Relief, and Economic Security Act (CARES). 
 
This allowed us to absorb the closures of the NELC and other after school care programs amidst unpredictable Sunday collections and consequently avoid laying off more than 30 employees parish-wide. 

We anticipate this loan will largely be forgivable thanks to the diligence of our parish business administrator, Laura Barr, along with the aforementioned Finance Council in applying these funds in accordance with the stipulations of the CARES Act.
 
As usual, we will share our full financial outlook for the parish in the coming months as we close the books on the current fiscal year 2020. Please feel free to reach out to the parish office if you have any questions in the meantime.
 
Finally, let us not forget our brothers and sisters who aren’t able to join us in person at public liturgies, and pray for all who suffer the ongoing ill effects of this pandemic — physically, spiritually, financially, and emotionally.
 
Again, please check back next week for another state of the parish update.
 
And may God bless your week.
Fr. Patrick Hipwell, Pastor
 
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A version of this article was published in the August 2 parish bulletin.