Financial Services

The Diocese of Pittsburgh is committed to transparency and has published its independently audited financial report every year since 1969. These documents will help you to understand how the Diocese of Pittsburgh uses your gifts to serve Jesus.

The financial statements of the Central Administration Fund (Fund) of the Diocese of Pittsburgh are audited by the independent accounting firm of Maher Duessel. In the opinion of Maher Duessel, the financial statements present fairly, in all material respects, the financial position of the Fund as of June 30, 2024 and 2023, and the changes in its net assets and its cash flows for the years then ended in accordance with accounting principles generally accepted in the United States of America.

The financial statements outline how the Fund brought in and spent money in fiscal year 2024.

Revenue and Support:

· Diocesan revenues were $28.9 million in 2024, a decrease of $1.9 million from 2023.

· Collections from the Management Fee, formerly known as the Parish Share Program, were $11.9 million or $0.7 million greater than the prior year.

· During 2023 the Diocese recognized $5.9 million of non-recurring revenue due to the mid-year adoption of the Management Fee.

· Revenue from other Diocesan Programs and Offices increased $2.4 million primarily due to one-time grants received in support of various Diocesan programs such as clergy graduate studies, next generation parish initiative Catholic leadership program, campus and Latino ministries and retired priests.

· While support from the Diocesan Foundation was down $1.0 million in 2024, $1.8 million of support was received this year from the Diocesan Insurance Fund. Investment Income increased $1.0 million while Bequests and Other income decreased $0.9 million.

Expenses:

· Total expenses of the Fund increased by $2.4 million. This increase was primarily driven by the impact of inflation on salaries and benefits, as well as new services associated with faith formation that was provided by the Diocese.

· The Office for the Protection of Children, Youth and Vulnerable Adults spent $0.4 million in 2024.

· For the full year, Fund revenues exceeded expenses by $0.5 million.

Cash Flows:

· Cash and cash equivalents decreased $1.0 million in 2024.

· Cash flow of $0.9 million was generated from fund operations while deposits held for others used $0.4 million and purchases of fixed assets used $1.5 million.

What is Parish Appeal Program?

· It is an annual assessment of parish income by the Diocese.

· Each parish is assessed a percentage of their assessable income.

· Assessable income is primarily the funds collected which are intended for parish use.

· Other types of income, such as fundraising income or rental income of a building may also be assessable.

· Parish Appeal funds are collected by each parish to pay its management fee. This management fee is used to support regional church ministries such as the seminary, Catholic education and evangelization, outreach to college students and essential administrative services for the Diocese, Parishes and schools, such as accounting, payroll and real estate.

· Any Parish Appeal funds raised in excess of the parish goal remain with the parish.

· No money from the offertory collection, special collections or Parish Appeal Program was used to fund the Independent Reconciliation and Compensation Program for responding to abuse claims.