Each year, many of our parishes and schools turn to the Archdiocese for assistance in order to continue their day-to-day operations. Over the years, costs have continually risen and many parishes, especially those that bear the important responsibility of a parish school, have faced financial challenges.
Through the Inter-Parish Finance (IPF) Board and the Chancery Office, and with financial oversight by the Archdiocesan Finance Council, the Archdiocese provides support to these needy parishes. Through IPF, funds raised through the Cardinal's Annual Appeal and the Cathedracticum are distributed back to these parishes to help address their financial needs. However, there is a shortfall between the funds the Archdiocese receives from parishes and the amount distributed back to needy parishes.
In 2005-2006 alone, $25.8 million was distributed to help 85 parishes and 95 schools address their financial obligations. Recognizing that these growing costs cannot continue to be supported solely through the Cardinal's Appeal and the Cathedraticum, the Bicentennial Fund for Needy Parishes presents a unique opportunity for each parish to support their neighbors in need. Twenty percent of funds raised through individual parish campaigns will be allocated toward this dedicated fund helping to benefit less fortunate parishes throughout the Archdiocese.
