An independent public accounting firm has provided an unmodified opinion that the financial statements are presented fairly in all material respects.

Our most recent financial results show our continued commitment to steward the assets of the faithful in the service of the mission of the Church. We continue to modernize operations, using technology and team work to serve all our stakeholders — parishes, schools, ministries and the faithful of South Carolina.

We have evaluated our expenses to ensure that we are directing the most dollars possible to the mission, while maintaining positive net revenue from operations. Our Parish Accounting Services team now serves 70 parishes and schools, providing quality accounting services to allow these locations to focus on mission and ministry. 

With our talented and dedicated Finance Council and its subcommittees, we continue to evaluate our overall strategy for our annual budget, preserving and maintaining our capital assets, positioning our investments to meet the needs of the growth in the diocese, and ensure our priests are well cared for in their active ministry and their retirement. 

I invite you to view the full report at charlestondiocese.org/finance/audits. We have provided a summary below.

On behalf of all Chancery staff and the Office of Finance, thank you for your continued support of our mission, and please be assured of my prayers for you!

“Let us not grow tired of doing good, for in due time we shall reap our harvest, if we do not give up. So then, while we have the opportunity, let us do good to all, but especially to those who belong to the family of the faith” (Gal 6:9-10).

Kelly M. Engelbert

Chief Financial Officer

Support & Revenue

• Parish Assessment Income: $9,578,412

• Contributions and Grants: $9,948,868

• Net Investment Return: $8,666,446

• In-kind Gifts: $575,986

• Net Supporting Services Fees: $1,274,366

• Other Revenue: $4,501,955

Total Support & Revenue: $34,546,033

Use of Funds

Program Services

• Pastoral: $9,339,628

• Church Personnel: $2,612,826

• Diocesan Services: $5,567,036

• Insurance Programs: $15,120

• Education: $2,727,164

• Cemeteries: $1,245,288

• Deposit and Loan: $444,238

• Interest Expense: $2,767,551

• General and Administrative: $61,306

Total program services: $24,780,157

Supporting Services and Other

• General and Administration: $3,714,999

• Institutional Advancement: $613,483

Total Supporting Services & Other: $4,328,482

Total Use of Funds: $29,108,639

Changes

Change in Net Assets from Operations: $5,437,394

Other Changes

• Gain on Sale of Property and Equipment: $7,096,530

• Other Income: $185,637

Total Other Changes: $7,282,167

Change in Net Assets: $12,719,561

Net Assets, Beginning of Year: $76,378,962

Net Assets, End of Year: $89,098,523