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Financial Reporting
IMMACULATE CONCEPTION CHURCH, SECAUCUS, NJFinancial Report to ParishFiscal Year End June 30, 2025
CHURCH OF THE IMMACULATE CONCEPTION
STATEMENT OF REVENUES AND EXPENSES
YEARS ENDED JUNE 30, 2025 and 2024
6/30/25 6/30/24
Revenues:
Sunday, holy days and special collections $ 415,353 $ 438,275
Christmas collection 29,944 22,542
Easter collection 17,509 19,413
Assessment collection 23,774 24,774
Perquisites 26,100 12,865
Interest income 7,511 7,021
Rental income 17,800 19,200
Restricted and unrestricted donations 55,169 50,665
Fundraising income 24,740 42,785
Candle income 21,449 23,788
Society income 7,984 5,079
Stipend income 15,123 -
Religious education income 20,854 20,309
Holy Land pilgrimage – Net - 10,218
Other Income 10,950 4,037
Total revenues 694,260 700,971
Expenditures:
Salaries $ 182,537 $ 223,258
Payroll taxes 11,765 12,901
Employee benefits 87,070 102,553
Stipend Expenses 21,421 -
Religious education costs 5,373 2,126
Rectory expenses 6,435 7,006
Contracted services 23,987 27,764 18,604 166
Utilities 55,449 54,293
Insurance 78,031 61,910
Supplies and materials 23,348 27,405
Repairs and maintenance 12,971 23,124
Diocesan assessments 83,568 69,070
Equipment and furnishings 4,452 9,740
Fundraising expenses 12,994 11,292
Society expense 4,911 5,063
Other Expenses 5,490 3,649
Assistance to others 6,300 6,880
Total expenses 626,102 648,034
Net revenue over expenses $ 68,158 $ 52,937
Attached is the annual report of the Parish for the Fiscal Year Ended June 30, 2025. Highlights are:
Despite achieving profitability the last 2 years, the underlying trends present both challenges and opportunities. We have included a graph showing the trends in 3 key categories between 2017 and 2025; Total Revenues, Revenues from the Sunday, Holy Days and Special Collections, and Total Expenses.
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In 2025, the Archdiocese mandated that the parishes include both Stipend Income and Stipend Expense in the financial statements. Previously, this information was maintained separately, outside the financial statements.
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Revenues for Sunday, holy days and special collections declined by $23,000 compared to the prior year, continuing the overall declining trend over the last decade. Our efforts to increase electronic giving this past year have shown good success, as this both increases revenues and decreases the costs associated with envelope mailings and processing. We are continuing to promote the security and ease of electronic giving, and the related benefits to the Parish. You will soon be hearing of additional efforts to achieve increased offerings, as this is the major source of revenues for ICC.
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Fund raising revenue declined by $18,000 in 2025, but the gala held in October 2025, which was hugely successful, plus other planned fund raising activities, will reverse this decline in fiscal 2026.
Total expenses, excluding Stipend Expense, declined by $43,000 from fiscal 2024, primarily due to a decline of $57,000 in salaries, payroll taxes and benefits, offset by increases of $16,000 in property insurance, and $14,000 in Diocesan Assessments, and further reductions of $12,000 combined for all other expense categories. We have pared expenses to the bone, but are continuing to focus on cost-saving efforts in all expense categories. However, as our parish plant and equipment continue to age, repairs and maintenance expense will continue to increase.
In summary, our major efforts in 2026 will be initiatives to increase our revenue streams, as well as focusing on expense-saving opportunities. God Bless you for your continuing generosity in supporting our Parish at Immaculate Conception.
The Immaculate Conception Finance Council and Trustees
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