The Financial Health of the Cathedral

It costs almost $3,000 a day to continue our Cathedral ministries of pastoral care, social outreach, social justice, hospitality, worship and music in a heritage building.

We have five different income streams.

Congregational giving represents the annual pledges and donations given by the members of the congregation.

We are grateful for the Diocesan Support we receive.

Income from the wider community includes the gifts from those lighting a prayer candle, attending events, dropping a donation into our maintenance box or in the collection plate during a service. It also includes income from weddings and other occasional offices.

The Cathedral is blessed with income from Investments, which grew and grows from the contributions of parishioners past and present.

Our Rental income is the result of the "development" of the office tower and mall in the 1980s. It does not grow (not inflation-proofed).

Cathedral Income - 2023 Year-End

22%
Congregational Giving - $216K
7%
Diocesan Support - $70K
13%
Wider community - $126K
18%
Investments - $176K
41%
Rent - $408K

The work of a Cathedral

Our expenses can be divided into four different areas.

Beyond Ourselves - this part of the budget is for outreach and includes our contribution to the work of the Diocese and the National Church.

Open Cathedral - this portion is spent on keeping the Cathedral open seven days a week and keeping the building in good repair.

The Cathedral's Worship life: services, music and education, all to the glory of God.

Parish Support - our office support staff and the overhead expenses of the mother church of the Diocese.

Cathedral Expenses - 2023 Year-End

15%
Outreach Beyond Ourselves - $163K
24%
Open Cathedral - $266K
31%
Worship - $335K
30%
Parish Support - $329K

Budget for 2024: Income of $973,030 to cover expenses of $1,088,960

Created using the Donation Thermometer plugin https://wordpress.org/plugins/donation-thermometer/.$1,088,960Budgeted for 2024: Income of $973,030 to cover expenses of $1,088,960.$973,030Budgeted for 2024: Income of $973,030 to cover expenses of $1,088,960.89%Congregational Giving 21% ($202,000)Diocesan Support 7% ($70,000)Wider Community 12% ($113,000)Investments 18% ($179,460)Rent 42% ($408,570)

Cathedral Members' Commitment for 2024

We have received 51 Pledges for 2024 and have surpassed our target of $135,200!