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FINANCIAL REPORT 2015 ARCHDIOCESE OF DENVER 09 Presently, there are 38 men studying at Redemptoris Mater. In fiscal 2014, Redemptoris Mater ordained one man to the priesthood and one man as a transitional deacon. Both men now serve within the archdiocese. Since 1996, 23 Redemptoris Mater seminarians have been ordained as priests of the archdiocese. Similar to St. John Vianney Seminary, the operations of Redemptoris Mater are supported by contributions from the public, including a share of the proceeds from the annual parish seminary appeal, grants from the archdiocese through the generosity of donors to the Archbishop's Catholic Appeal, Mount Olivet Cemetery, the Archdiocese of Denver Mortuary and grants from various restricted endowments owned by The Catholic Foundation, including the New Harvest campaign. STATEMENTS OF FINANCIAL POSITION As of June 30, 2015 and 2014 2015 2014 ASSETS: Cash & cash equivalents $16,686 $10,924 Other assets 16,047 12,486 Due from other organizations 68,496 36, 876 Property & equipment, net 61,956 56,749 Total assets $163,185 $117,035 LIABILITIES: Accounts payable & accruals $57,317 $6,731 Due to other organizations 25 - Total liabilities 57,342 6,731 NET ASSETS: Unrestricted 105,843 84,613 Temporarily restricted - 25,691 Total net assets 105,843 110,304 Total liabilities & net assets $163,185 $117,035 STATEMENTS OF ACTIVITIES Years ended June 30, 2015 and 2014 2015 2014 SUPPORT & REVENUE: Grants & contributions $1,403,806 $1,428,893 Fundraising & other 283,289 219,949 Total revenue & support 1,687,095 1,648,842 EXPENSES: Program expenses 1,453,270 1,358,668 Support & administrative expenses 228,897 271,154 Development & fundraising 9,389 - Total expenses 1,691,556 1,629,822 (Decrease) increase in net assets ($4,461) $19,020 STATEMENTS OF FINANCIAL POSITION As of June 30, 2015 and 2014 2015 2014 ASSETS: Cash & cash equivalents $19,826 $566,57 7 Prepaid expenses and other - 6,100 Investments 539,646 - Property & equipment, net 132,044 132,044 Total assets $691,516 $704,721 LIABILITIES: Total liabilities $- $- NET ASSETS: Unrestricted 485,406 498,611 Temporarily restricted 206,110 206,110 Total net assets 691,516 704,721 Total liabilities & net assets $691,516 $704,721 FAMILY OF NAZARETH INC. Family of Nazareth's net assets decreased slightly in 2015 as compared to a decrease of over $100,000 in 2014. Both program revenue and expenses were higher in fiscal 2014 as a result of travel and other costs associated with more than 128 pilgrims aending World Youth Day in Rio de Janeiro, Brazil. Other program expenses and grant expenditures reflect the ongoing support of the new evangelization in Denver, the United States and worldwide. STATEMENTS OF ACTIVITIES Years ended June 30, 2015 and 2014 2015 2014 SUPPORT & REVENUE: Grants & contributions $32,455 $201,167 REVENUE: Program revenues - 397,167 Investment & other income 15,175 7 72 Total revenue 15,175 397,939 Total revenue & support 47,630 599,106 EXPENSES: Program expenses 51,682 663,476 Grants expenditures 5,050 35,231 Support & administrative expenses 4,103 9,732 Total expenses 60,835 708,439 Decrease in net assets ($13,205) ($109,333) The chapel of the Redemptoris Mater Seminary is designed to give the faithful a more vivid experience of the mystery of salvation. REDEMPTORIS MATER HOUSE OF FORMATION