Annual Report

2017 Annual Report

Episcopal House of Prayer

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 intend 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.  While we do not receive direct financial support from the Episcopal Church in Minnesota or St. John’s University and Abbey, we appreciate their indirect support of our ministry and frequent rental of our facility.  We are deeply grateful to those who use the House of Prayer, attend our programs, or simply spread the word about programs or the facility to others.

I.  Income

Where our funding comes from: 

Total Income for the Episcopal House of Prayer for 2017 was $221,314.34.

Programs:

Our net program revenue experienced a budget shortfall of $6,069 for the year.  Income from House of Prayer programs realized a reduction in income during this transitional year, with a calendar that was disrupted by a broken water main in September.  Overall, we offered 8 retreats with an average of 13 people in attendance.  Three retreats were removed from the calendar due to lack of registrations.

Facility Rental:

Working around House of Prayer programs and retreats, we rent the space to others.  This year included church groups, ECMN’s School for Formation classes and cohort gatherings for those preparing for ordination, discernment groups, vestries, the MCC Heads of Church retreat, Men of Benedict, Bonner Leader Program, and Campus Ministry retreats, class visits, and individuals on personal retreat.  We hosted 99 separate events, which provided us with $68,078.84 in revenue.

Endowment Income:

We participate in the Pooled Investment Fund with the Episcopal Church of Minnesota (ECMN).  We withdraw 4.5% annually, $40,242 in 2017.  That rate of draw was recommended by the Trustees of the ECMN.  We will again draw down 4.5% of our PIF holdings in 2018.  The fund achieved a return of 14.2% in 2017, leaving a balance of $1,099,565.04 at the close of the year.

Annual Gifts and Bequests:

We depend on the financial gifts of individuals for a significant amount of our operating budget.  This past year we received bequests totaling $35,000 from lifelong supporters, people who were blessed by House of Prayer during their lives, and remembered us in their wills.  Another $47,961 came primarily from individual pledges and annual donations to House of Prayer.  Collectively, the personal acts of individual persons combined to provide 37% of the financial support necessary to continue.  We give thanks for you, people who are truly our partners in ministry.

II.  Expenditures

How we spend our funds:

Salaries and Benefits:

Salaries and benefits supported a new full time director and new part time (24 hours/week) manager in 2017.  These positions are supplemented by a student worker and volunteers who participate on an active board, managing fundraising activities, and assist with all aspects of operations at the House of Prayer.

HOP Building Expenses:

This has been an eventful year as House of Prayer ages as a facility.  We had a broken water main in September, which resulted in replacement of much of the dining room floor.  Thankfully this major expense was covered by insurance.  Repair and replacement not covered by insurance included masonry work on the chimney, repairs to the sanitizer, replacement of the water softener, and repair of a leak in a section of the flat roof.  A skilled group of volunteers continue to make and supervise repairs as we work to be good stewards of the House.  Please note that the building expenses included here are basic operating expenses and repairs.  We raise funds separately for major capital expenses.

Administrative Expenses and Promotional Expenses:

This year saw some increased expenses at House of Prayer.  Some aging office equipment was replaced, a new drone video introduced ECMN Convention goers to a beautiful fly-over view of our facility, and funds were invested in transition year expenses like the production and mailing of two brochures as we worked to develop the program calendar.  Some investment was made in behind the scenes security of the website and social media platforms.  Overall, administration expenses came in low and promotional expenses came in high, for a combined balance of $350 under budget.

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

Episcopal House of Prayer is a ministry affiliated with the Episcopal Church in Minnesota.

Our mission is to assist in the ongoing work of discerning God’s voice, both within ourselves and in the world; provide guidance in the search for wisdom; teach all forms of contemplative prayer; offer training in the inner work of the spiritual life.

Our vision is to be a contemplative ministry of spiritual transformation, grounded in the Christian tradition, in the practice of Benedictine hospitality, reaching out and welcoming all.