Year-End Financial Update

Over the past year, one message has been clear through many conversations with our parish and school community: you desire transparency. You want to understand where we are financially, how we arrived here, and how we can work together to strengthen the future of St. Thomas More.

As the leadership team of St. Thomas More Parish and School, we want to acknowledge and express our gratitude for the passion, generosity, and commitment that exists throughout our community. We have witnessed the incredible dedication of our families, donors, volunteers, and staff who care deeply about our mission and the future of our parish and school.

As we review our fiscal year financial results, it is important to recognize the impact of several extraordinary projects that began across multiple years. These projects have brought tremendous improvements to our parish and school campus, and we are grateful for the generosity of those who supported them. However, the final costs of these projects were significantly higher than the funds raised, which reduced a substantial portion of our savings. The negative balance reflected in this report was covered through those reserves highlighting one of the important reasons maintaining healthy savings is so critical. They allow us to address significant needs, respond to unexpected expenses, and continue serving our community during challenging times.

Additionally, this financial picture includes significant deferred maintenance needs across our campus that have accumulated over time. Addressing these needs in a responsible and sustainable way will continue to be an important part of our future planning. Our leadership team continues to work closely with the Finance Council to review our financial position, evaluate priorities, and develop a responsible path forward. The Finance Council provides valuable guidance, accountability, and expertise as we work to strengthen the financial foundation of our parish and school and ensure our resources continue to support our mission.

We also recognize that our community has carried a tremendous amount of generosity through years of giving, volunteering, and supporting special projects. As we look ahead, we must be mindful of donor and volunteer fatigue and be intentional about finding sustainable ways for our entire community to share in supporting our mission.

Moving forward, our focus will be on strengthening the financial foundation of St. Thomas More, and ensuring we are prepared to support the needs of our parish and school for years to come.

Thank you for your trust, your continued generosity, and your commitment to St. Thomas More. Together, with Christ as our cornerstone, we can continue building a strong and vibrant future for our community.

With gratitude,

Fr. Matt, The Parish Leadership Team and the St. Thomas More Financial Council