Dear Parishioner,

I pray this letter finds you safe and healthy.

Today, I write to you on the operating results of Blessed Sacrament Church covering our fiscal year-end August 31, 2022. I am happy to report that our collections have increased to pre-pandemic levels totaling $905,000 over the last fiscal year - an improvement of close to 23%. However, our overall income remains depressed primarily due to the vacancy of our Convent and investment performance related to current market conditions. Therefore, we had a shortfall of $340,000 over the last fiscal year.

Our community has become more vibrant and engaged with weekly attendance improving from an average of 400 last year to 700 over the past 12 months. Weddings and baptisms have notably increased and the 10:00 a.m. Mass and its attendant hospitality event have been pleasantly full. Our music program now includes a gospel Mass on Sundays at 5:30 p.m., Spirit Sunday routinely hosts upwards of 100 parishioners, and revenue is growing from our theater and other public space rentals.

Over the last 12 months we have continued to upgrade our facilities, utilizing our internal personnel, with completed projects including the installation of a bathroom in the Rectory, restorations of the Baptistery and sub-Sacristy, improvements in Taylor Hall and countless window and paint repairs. We encourage you to visit us at the Rectory and have a look at the wonderful progress that has been made to return this amenity of the parish to its former dignified state.

Going forward we expect the façade project to be completed and scaffolding removed in March of 2023. Regarding future capital projects, we are exploring the feasibility of having a lift installed, which would make Taylor Hall more accessible for many of our parishioners and we may be forced to pay for NYC mandated repairs to our school’s façade, which could exceed $1 million. Our interest expense will also increase significantly as we begin paying down the loan for our 8 year restoration project.

Last year we did not have a year-end annual appeal as we anticipated having rental income from our Convent. Locating the right tenant has proved to be challenging and we are therefore working with the Archdiocese to sell the building. In the event of a sale, much of the proceeds will be spent to reduce debt and pay for the School façade work. To bridge the anticipated operating deficit and have funds to allocate toward unforeseen expenses we are launching an annual appeal to raise $350,000.

We ask that all of you consider participating in the appeal and want you to know that all funds raised during this campaign will remain within our parish to further the work being done within our community. We will continue to do our utmost to manage the resources of the parish in the most efficient manner and remain humble and grateful for all of your support.

Your Pastor,

David Nolan

2022 Annual Report