How is The Parish Financed?
How is the parish financed?
How is the Diocese financed?
What is the 100 Club?
These are some of the questions that people may think about when faced with the issue of the day by day running costs of our parish and diocese. Over the next few weeks I wish with a 2 minute input at the end of the Saturday and Sunday masses to try to help us to understand how our parish is financed. The text of each presentation will be available on the parish website for you to read.
Our first question is how is our parish financed?
At the Immaculate Conception we have two main sources of income that make up the majority of the monies received. These two sources are the weekend collection and the 100Club. The collection can be supported by weekly giving as the collection bags are passed around or by a standing order with the parish.
Setting up a standing order is easy to do and ensures a steady income for the parish.
Another source of income is the participation in the Gift Aiding scheme, more about Gift Aid will be explained another day. A small amount is also raised by the use of the parish room and by mass intentions that are given and by stipends offered for baptisms, weddings and funerals. A stipend is a sum of money paid to the parish to help cover the expenses incurred in its running. At this parish the stipend does not go to the priest but is paid into the parish account from which an allowance is paid to the priest.
Apart from the collection,100 Club, Gift Aiding, mass intentions, stipends and the use of the parish room our parish has no other source of income.
So, our parish is financed only by the willingness of people to donate.