Annual Report 2013

 Episcopal House of Prayer

ANNUAL REPORT 2013

Welcome to our annual report. This report has been prepared for our donors, who are important partners in our ministry. In an effort to be more transparent and responsive to those who support us, we plan to publish our annual financial information each year on our website. If you have any questions about this information, please contact us at houseprayer@csbsju.edu or 320-363-3293.
If you would like to become a donor of the House of Prayer, click here. We receive no direct financial support from either the Episcopal Church of Minnesota or Saint John’s University and Abbey. We are grateful to those who use the House of Prayer, attend our programs, or simply spread the word about our facility to others.

I. Income

income 2013Where our funding comes from:

Programs/Retreats $49,659

Facility Rental $50,794

Endowment Income $33,632

Annual Gifts $37,610

Total Income $171,695

Total Income for the Episcopal House of Prayer for 2013 was $171,695. This represented a budget shortfall of $18,000. However, in 2012 we had a budget surplus of $19,000, which offset our drop in annual gifts for 2013.
Programs: In 2013 our registration for retreats at the House of Prayer were strong. Programs account for roughly 1/3 of our total annual income. We had a total of 120 participants at 8 retreats for an average of 15/retreat.
Facility Rental: Our facility is available for rent by groups when not scheduled for a House of Prayer retreat. In 2013, we hosted 61 separate events, including class visits, one-day meetings and vestry retreats, summer weekday evening dinners for the Collegeville Institute programs and extended retreats groups. Highlights in 2013 included hosting Spiritual Directors’ International in April, a large wedding party in June, and two Minnesota Women’s Press retreats in October.
Endowment Income: We participate in the Pooled Investment Fund with the Episcopal Church of Minnesota (ECM). We withdraw 4% annually, following the recommendations of the Board of Directors of the ECM, to supplement our income while maintaining growth of the fund. The chart below demonstrates the healthy growth of our endowment in 2013, following the recession. At the end of 2013, our endowment was $1,019,024, for the first time exceeding the 2007 level of $940,743.

endowment graph simple
Annual Appeals: Our annual fundraising for the general fund is where we saw the shortfall. Ordinarily we receive $60-75,000 annually to this fund. However, in 2013 we raised $37,610. This result was due primarily to donors redirecting their gifts to the 25th Anniversary Renewal Campaign. We have confidence that our 2014 fundraising figures will return to earlier levels.

 

II. Expenditures

expenditures chart 2013How we spend our funds:
Salaries and benefits: $146,192
HOP building expenses: $27,615
Administrative expenses: $6,545
Promotional expenses: $8,797
Total Expenses: $189,149

Our Expenditures primarily go to salaries and benefits. The Episcopal House of Prayer employs a full-time director and a part-time (24 hrs/wk) administrator. These positions are supplemented by volunteers who participate on an active board, manage fundraising activities, and assist with all aspects of operations at the House of Prayer. Please note that the building expenses included here are basic operating expenses and repairs. We raise funds separately for major capital expenses.

 

A note on the 25th Anniversary Renewal Campaign:

Our campaign to raise money to renew our physical spaces and extend our contemplative ministry resulted in pledges and donations totaling $276,300. This amount exceeded our goal of $275,000. We were able to reach this goal thanks to a single large donation for half the goal and a large number of smaller gifts that made up the other half. Because of your generosity, we were able to pay back our endowment for replacing the roof in 2012 and move forward on refurbishing the interiors. We have done a large amount of landscaping to transform the front of the House of Prayer into a prairie with meditative paths and a berm of pine trees. We are also currently in the process of hiring an associate director for our Outreach program. This person will guide our efforts in a 3-year pilot program.

We are grateful to all who participate in our ministry of contemplation, transformation and hospitality.