Newspaper Archive of
Arkansas Catholic
Litlte Rock, Arkansas
December 8, 1991     Arkansas Catholic
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December 8, 1991
 

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PAGE 1=-4 ARKANSAS CATHOLIC DECEMBER 8, 1991 0 St. John's Seminary Fund Balance Sheet (Condensed) June30 ASSETS 199.___!1 1990" Investments, at Market Stocks (Cost: 1991 -$1,008,324; 1990- $775,109) $ 1,501,145 $ 1,179,625 Bonds (Cost: 1991 - $2,221,921; 1990 - $2,298,747) 2,187,379 2,250,920 Mutual Funds (Cost: 1991 -$527,987; 1989- $581,710) 423,763 470,863 $ 4,112,287 $ 3,901,408 Cash and cash equivalents 191,203 73,525 Interest, dividends, notes receivable62,536 75,277 Library, furniture at nominal value 3 3 TOTAL ASSETS $ 4,366,029 $ 4,050,213 LIABILITIES Accounts Payable $ 7,070 $ 4,268 FUND BALANCE 4 358 959 4,045 945 TOTAL LIABILITIES AND FUND B2U_ANCE $ 4:366:029 $ 4 050:213 Statement of Revenues, Expenditures and Chanties in Fund Balances (Condensed) ADDITIONS Interest and dividends Realized and unrealized net gain on investments Burse and donations received Miscellaneous TOTAL ADDITIONS (loss) Year ended June 30 1991 1990____* $ 308,773 $ 305,748 $ 45,651 50,758 69,344 82,143 1,248 6,214 425,016 $ 4441863 DEDUCTIONS Seminarians' aid, tuition, travel expenses Administrative and office expense Rector's expense TOTAL DEDUCTIONS $ 74,298$ 110,739 22,449 20,418 15,255 16,819 $ 112,002 $ 147#76 xcEss (DE clC_ CY) OF REVF2qUF OVER EXPENSES $ 313,014 $ 296,887 FUND BALANCE, BEGINNING OF YEAR 4,Q451945 3 749,058 FUND BALANCE, END OF YEAR Diocese of Little Rock Clergy Welfare Board Balance Sheet (Condensed) .ASSETS Investments, at Market Stocks (Cost: 1991 -$743,555; 1990- $726,522) Bonds (Cost: 1991 -$1,638,417; 1990- $1,693,326) Cash and cash equivalents Interest and accounts receivable TOTAL ASSETS June 30 1991 199_____q0 $ 836,900 $ 873,425 1,650,344 1,690,884 $ 2,487,244 $ 2,564,309 30,486 38,742 85,634 67,774 $ 2,603,364 $ 2,670,825 LIABII2rIF Accounts payable and accrued interest Grant payable: St. John's Manor 60,710 200,000 260,710 NET ASSETS AVAILABLE FOR PLAN BENEFITS 56,125 56,125 Statement of Changes in Net Assets Available for Plan Benefits (Condensed) June30 ADDITIONS TO NET ASSETS 1991 1990 Dividends and interest $ 172,877 $ 185,804 Net appreciation (depreciation) in fair market value of investments 34,562 66,113 $ 207,439 $ 251,917 Retirement billings to parishes 52,260 52,500 Bishop's Annual Stewardship Appeal 25,000 14,750 Christmas collection 149,138 187,916 Other- insurance and estate proceeds 8,691 17,070 TOTAL ADDITIONS $ 442,528. $ 524,153 REDUCTIONS TO NET ASSETS Benefits: Infirm clergy Retired clergy Other benefits and gifts Grant: St. John's Manor Administrative expense TOTAL DEDUCTIONS $ 147,519 $ 163,839 320,362 313,440 27,525 21,037 200#00 $ 695,406 $ 498,316 19,168 24,407 $ 714,574 $ 522,723 NET IN E (DECREASE) $(272,046) $ 1,430 NET ASSL*I'S AVAILABLE FOR PLAN BF2qEFr , BEGINNING OF YEAR 2,614,700 2,613,270 NET ASSETS AVAILABLE FOR PLAN BENEHTS, END OF YEAR $2,342.654 $2,614,700 your financial and charitable plans to Giving at any time of the year is one of life's greatest joyL The end of the year is a special time to review make mare you benefit as much am poam le from your gifts. We share theae kl_ea Cuh -- Cash is still the most popular type of gift because it is easy to record. Cash gifts may be deducted up to 50 percent of your adjusted gross income. Excess deductions can be carried forward into the next five years. Securitiea m Stocks, bonds and mutual funds which have risen in value since their purchase make attractive gift.,. Here's why: In addition to the deduction for the full value of the securities, you also save by not incurring capital gains tax on the increase in value. Matching Gifts m Many employers match the gifts their employees make. If your com- pany offers this benefit, be sure to complete the necessary forms to multiply your gifts. If you do not have enough deductiona to itemize in 1991, charitable gifts may help. By making a larger-than-usual gift this year, you may have enough deductions to be able to itemize.