MINNESOTA
Roman Catholic Archdiocese of St. Paul and Minneapolis
Date:Thursday, February 13, 2014
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Notes to condensed financial statements
The Archdiocese of St. Paul and Minneapolis (the Archdiocese) was first established as a diocese by the Holy See in 1850 (originally Minnesota and the Dakotas) and elevated to an archdiocese 38 years later.
Now comprising a 12-county area, there are 188 parishes and 91 Catholic schools (including elementary and high schools) within the Archdiocese. The Archdiocese is home to roughly 825,000 Catholics, hundreds of clergy and religious men and women, and thousands of lay leaders, employees and volunteers who serve in the parishes, Catholic schools, and many other ministries.
The mission of the Archdiocese is to make the name of Jesus Christ known and loved by promoting and proclaiming the Gospel in word and deed through vibrant parish communities, quality Catholic education, and ready outreach to the poor and marginalized.
Nature of organization
The financial statements include all administrative and program offices and departments of the Corporation named the Archdiocese of St. Paul and Minneapolis (the Chancery Corporation). Parishes, their related schools, and other separately incorporated and operated Roman Catholic entities within the 12-county area of the Archdiocese are not under the fiscal or operating control of the Chancery Corporation and, therefore, in accordance with accounting principles generally accepted in the United States of America, are not included in the Chancery Corporation’s financial statements. Certain members of the Chancery Corporation are on the board of trustees of some of such other Catholic entities.
Basis of presentation
The financial statements of the Chancery Corporation have been prepared on the accrual basis of accounting. The Chancery Corporation reports information regarding its financial position and activities according to three classes of net assets: unrestricted net assets; temporarily restricted net assets; and permanently restricted net assets, based on the existence or absence of donor-imposed restrictions.
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