Annual Report 2014

Episcopal House of Prayer

ANNUAL REPORT 2014

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 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

Where our funding comes from:

Programs/Retreats $53,297
Facility Rental $45,464
Endowment Income $34,955
Annual Gifts $58,463
Total (Net) Income $192,179

 

Total Income for the Episcopal House of Prayer for 2014 was $192,179. This represented a budget surplus of $2,858 for an on-budget result. Annual gifts were back on target after a large deficit in 2013 due to gifts being reassigned to the 25th Anniversary Renewal Campaign.

Programs: In 2014 our registration for retreats at the House of Prayer was very strong. Four retreats were filled to capacity at 24 (July Wisdom School; August Wisdom School; November retreat with Cyprian Consiglio, OSB Cam.; and Ground Luminosity with Cynthia Bourgeault). Attendance was strong across the board. We served 162 people in 10 retreats for an average of 16 per retreat.

Facility Rental: Our facility is available for rent by groups when not scheduled for a House of Prayer retreat. In 2014, we hosted 77 separate events, including class visits, one-day meetings and vestry retreats, summer weekday evening dinners for the Collegeville Institute programs and extended retreats groups. We were busier than ever from September—November and welcomed several new book club groups and a new independent yoga retreat this year.

Endowment Income: We participate in the Pooled Investment Fund with the Episcopal Church of Minnesota (ECM). We withdraw 4% annually, as recommended by the Board of Trustees of the ECM, to supplement our income while maintaining growth of the fund. A chart later in this report demonstrates the healthy growth of our endowment in 2014. At the end of 2014, our endowment was $1,024,656. (see bar chart below)

Fundraising: Our annual appeals for the general fund were on budget at $58,463. We had an additional gift of $3,000 dedicated to our railing project, pushing the total of gifts over $60,000. Progress was also made on payment of pledges for the 25th Anniversary Renewal Fund. As of December 31, 2014, a total of $261,252.50 has been collected of a total pledged amount of $276,700. We expect the remaining $15,448 to come in by March 2016.

 

II.               Expenditures

How we spend our funds:

Salaries and benefits $148,447
HOP building expenses $31,310
Administrative expenses $4,809
Promotional expenses $4,755
Total Expenses: $189,321

 

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.

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