S UPPORT O UR AGING R ELIGIOUS SOAR! A NNUAL R EPORT 2 0 0 8-2 0 0 9 0 0 VA R N U M S T R E E T, N E WA S H I N G TO N, D C 2 0 0 1 7 W W W. S OA R - U S A. O R G 9
This Annual Report is presented with gratitude to all who have made the mission of SOAR! possible. A Prayer for SOAR! Benefactors I give thanks to my God for all my memories of you, happy at all times in all the prayers I offer for all of you. And this is my prayer for you; May your love grow richer and richer yet; in the fullness of its knowledge and the depth of its perception, so that you may learn to prize what is of value; may nothing cloud your progress; may you reap through Jesus Christ, the full harvest. To God s honor and praise. St. Paul Phil. 1:3-11
Dear Friends of SOAR! During fiscal year 2008-2009, we, like you, were concerned for individuals, families, and businesses affected by the credit crunch, loss of stock market value, vanishing home equity, and the threat of a long and deep recession. We were deeply aware that the financial crisis was global and compounded as well by violence, pain, and suffering of so many people, families, and nations around the world. During these challenging times, the SOAR! board of directors and staff and the grant recipients are deeply grateful for your donations. Through your kindness, in 2009 SOAR! awarded 61 grants totaling more than $1 million to religious congregations in need. The SOAR! grants helped religious congregations in need of basic therapeutic equipment, handicapped accessible spaces, and structural repairs. Through this fundamental assistance many women and men religious are living out the last years of their lives in dignity and safety, and with modest care. Looking ahead, we are planning for another cycle of grant awards in the spring of 2010. Thanks to the generosity of our friends, the leadership of the board of directors, and diligent resource management, SOAR! ended the fiscal year in a favorable financial position. Our 2008-2009 financial statement shows that 70 percent of our expenditures went to program expenses and the fiscal year ended with more than $800,000 in total net assets. The severity of need among religious congregations cannot be overstated. According to recent studies, the total under-funded retirement liability for religious congregations is more than $11.8 billion. As a result of this shortfall, many religious congregations have limited resources to care for their elderly and infirm members. In 2008, the median age of women religious was 70.64 years and that of men was 65.54. The current average annual Social Security benefit for religious is $4,154 compared to $13,836 for lay recipients. In 2010, our capacity to help women and men religious will depend on generous contributions from those they taught, cared for, or employed. The religious are faithful in keeping benefactors and their special intentions in their prayers. Although they may not see or know the results of their prayers, they trust that God s goodness and mercy is felt in the hearts of persons or families for whom they pray. Let us be united in prayer and actions that will give rise to peace within families, among nations, and our world at large. God bless you. Beth Veihmeyer Chair, Board of Directors Sister Patricia A. Sullivan, RSM President
SOAR! Grant Awards 2008-2009 Support Our Aging Religious is happy to announce the 2009 Grant Awards totaling more than $1 million that will benefit 60 religious congregations across 26 states and Puerto Rico. These grants will improve the living conditions and ensure the safety of almost 2,000 elderly and infirm religious men and women whose median age is 78. State City Organization Purpose Alabama Cullman Benedictine Society of Alabama - St. Bernard Abbey Elevator Upgrade/Modernization California Thousand Oaks Sisters of Notre Dame HC Accessible Renovations Bellflower St. John Bosco High School Salesian Community Addition for HC Accessibility Connecticut Wilton Atlantic Midwest Province-School Sisters of Notre Dame New Walk-in Refrigerator/Freezer District of Columbia Washington Visitation Sisters New Porch Delaware Wilmington Oblates of St. Francis de Sales Water Treatment System Illinois Chicago Resurrection Life Center, Sisters of the Resurrection Hospital Beds Alton Ursuline Queen of Peace Infirmary Hospital Beds and Lifter Chicago Benedictine Sisters of Chicago Lift for HC Accessibility Wilmette Society of the Sisters of Christian Charity Fire Alarm System Upgrade Kankakee Servants of the Holy Heart of Mary Walk-in tub Indiana Mt. St. Francis Province of Our Lady of Consolation, Inc Generator Oldenburg Sisters of St. Francis of Oldenburg Windows and Tub Lift Seat Kansas Concordia Sisters of St. Joseph Window Replacement Kentucky St. Catharine Literary Society of St. Catharine of Siena Hospital Beds Covington Sisters of Notre Dame of Covington, KY Inc. HC Accessible Van - Conversion Louisiana Covington Society of Jesus Hearing Aid Massachusetts Brockton Sisters of Jesus Crucified and the Sorrowful Mother Bedroom Upgrades for Safety Hingham Benedictine Monks, Glastonbury Abbey Boiler Replacement Jamaica Plain Daughters of St. Paul HC Accessible Renovations Wrentham Cistercians of the Strict Observance Whirlpool Replacement Plainville Religious of Jesus and Mary Zoning System for New Boiler Petersham St. Scholastica Priory Elder-friendly Beds Holyoke Sisters of St. Joseph of Springfield Elevator Upgrade Maryland Baltimore Institute of Mission Helpers of Baltimore City, Inc Fire Alarm System Upgrade Minnesota Little Falls Franciscan Sisters of Little Falls HC Accessibility Collegeville Order of St. Benedict Emergency Call System Onamia Crosier Community of Onamia Automatic Doors Mississippi Chattawa School Sisters of Notre Dame Medical Alert/Call Bell System Missouri High Ridge Society of Our Mother of Peace Basement Renovation St. Louis Adorers of the Blood of Christ, US Region Whirlpool Replacement Nebraska Omaha Servants of Mary Roof Replacement North Dakota Richardton Assumption Abbey New Treadmill New Hampshire Pittsfield Sisters of the Holy Cross HC Accessible Renovations New Jersey Haledon Missionary Society of Salesian Sisters Hot Water Tank Caldwell Sisters of St. Dominic of Caldwell Automatic Door Bayone Marist Brothers New Furnace Ayer te serví, hoy te necisito. Yesterday I served you, today I need you. Sister Selenia Quiñones, OP- Superior Hermanas Domincas de la Cruz
New York Rochester Sisters of St. Joseph of Rochester Medical Equipment Garrison Franciscan Sisters of the Atonement Patient Lifter Buffalo Felician Franciscan Sisters 2 Assisted Bathing Areas Beacon Capuchin Province of the Sacred Stigmata of St. Francis HC Accessible Renovation New Windsor Sisters of the Presentation of the Blessed Virgin Mary Furniture Peekskill Sisters of the 3 rd Order of St. Francis MSH Walk-in Tubs Ronkonkoma The Cenacle Sisters HC Accessible Renovations Ohio Tiffin Sisters of St. Francis Hospital Beds Hubbard Oblate Sisters of the Sacred Heart of Jesus HC Accessible Renovations Sylvania Sisters of St. Francis, Congregation of Our Lady of Lourdes Medical Equipment Canfield Ursuline Sisters of Youngstown Dining Room Upgrade Toledo Ursuline Convent of the Sacred Heart HC Accessible Renovations Oklahoma Piedmont Red Plains Monastery, Sisters of Benedict Window Replacement Pennsylvania Center Valley Missionaries of the Sacred Heart, Sacred Heart Villa Automatic Doors Scranton Sisters, Servants of the Immaculate Heart of Mary Elevator Replacement Erie Sisters of St. Joseph of Northwestern Pennsylvania Personal GPS System Erie Benedictine Sisters of Erie Health Care Renovations Puerto Rico Bayamon Hermanas Dominicas de la Santa Cruz Medical Bills, Food Expenses Texas San Antonio Missionaries of the Sacred Heart Wheelchairs & HC Accessible Updates New Caney Discalced Carmelite Sisters Adjustable Bed San Antonio Society of St. Teresa of Jesus Structural Repairs of Pantry Washington Lacey Sisters of St. Benedict Security System Wisconsin Milwaukee School Sisters of St. Francis HC Accessible Renovations 2009 Monthly Prayer Partners The grant recipients pray daily for their benefactors. They partner with SOAR! to pray in gratitude for the donors and their special intentions. SOAR! offers an opportunity for our friends to request prayers for special intentions. Please contact us at: info@soar-usa.org January ~ Oblates of St Francis de Sales February ~ Sisters of Charity of Saint Elizabeth March ~ Sisters of Charity April ~ School Sisters of St. Francis May ~ Benedictine Sisters June ~ Sisters of Mercy of the Americas, Brooklyn July ~ Benedictine Sisters of Florida August ~ Sisters of St. Francis of Savannah MO September ~ Sisters of St Mary of Namur, Buffalo October ~ Sisters of Notre Dame, Toledo November ~ Benedictine Sisters of Pittsburgh December ~ Congregation of Sisters of St. Agnes
2007-2008 SOAR! BOARD OF DIRECTORS OFFICERS BETH VEIHMEYER, CHAIR Potomac, MD JULIE TROCCHIO, VICE CHAIR WILLIAM J. EHRHARDT, TREASURER Mountainside, NJ M. JOAN MCKENNA, SECRETARY Framingham, MA ELLEN BACHMAN Palmetto, FL ANDREA HATTLER BRAMSON Miami, FL REV. ROBERT A. BROWN, OSFS Buxton, NC KATHRYN P. CABALLERO Alexandria, VA MICHAEL J. CABALLERO Alexandria, VA BARBARA COMSTOCK McLean, VA JOSEPH P. DELANEY Staten Island, NY HENRY FERRERO Chevy Chase, MD JOHN J. FIALKA MICHAEL P. FITZGERALD WILLIAM A. GEOGHEGAN Bethesda, MD PATRICIA E. GORMAN Greenwood Village, CO MARY ETTA MILLS Baltimore, MD JOHN T. O ROURKE LIBBY RAMIREZ Victoria, TX MICHAEL RODGERS TERRY SAMWAY Annapolis, MD (FORMER BOARD MEMBERS ON COMMITTEES) DEVELOPMENT COMMITTEE JIM DIMOND Annandale, VA JANE M. MCCARTHY Arlington, VA GRANT REVIEW COMMITTEE KATHLEEN SMITH Wilmington, DE SOAR! STAFF SISTER PATRICIA A. SULLIVAN, RSM President DEBORAH HUDSON VORNBROCK Director, Grants Program & Assistant to the President DELORES JARRELL Administrative Assistant BHARTESH TRIPATHI Accountant SISTER JUDITH MCKENNA, CSC Volunteer Administrative Assistant MARILYN HENNESSY Chicago, IL
Support Our Aging Religious, Inc. (SOAR!) Annual Financial Report July 01, 2008 - June 30, 2009 Operating Revenue and Expenses Balance Sheet and Changes in Net Assets, Year Ended June 30, 2009 As of June 30, 2009 Total Revenue - FY 2008-2009 Assets Current Assets CONTRIBUTIONS $954,019.00 Cash $82,422.00 FOUNDATIONS $37,750.00 Money Market Accounts $414,211.00 CFC* $41,733.00 Investments $225,780.00 BEQUESTS $28,318.00 Bequests Receivables $0.00 EVENTS (net) $325,107.00 Contributions Receivables $8,640.00 OTHER** $31,457.00 Prepaid Expenses $33,256.00 TOTAL INCOME $1,418,384.00 Total Current Assets $764,309.00 * Combined Federated Campaign (10041) Noncurrent Assets ** Sisters in Song and Interest Income Office Furniture & Equipment $36,510.00 Accumulated Depreciation -$34,028.00 Total Expenses - FY 2008-2009 Investment held for Endowment $61,253.00 Security Deposits $3,138.00 PROGRAMS $1,232,007.00 Total noncurrent assets $66,873.00 FUNDRAISING $327,935.00 Total Assets $831,182.00 ADMINISTRATION $208,729.00 TOTAL EXPENSES $1,768,671.00 Liabilities and Net Assets Statement of Activities - FY 2008-2009 Current Liabilities Current Maturities of Capital Lease Obligation $0.00 Total Public Support and Revenue $1,418,384.00 Accounts Payable & Accrued Expenses $21,152.00 Total Expenses $1,768,671.00 Pledges Payable $0.00 Changes in net assets -$350,287.00 Deferred Revenue $0.00 Total Current Liabilities $21,152.00 Net assets, beginning of year $1,160,317.00 Noncurrent Liabilities Net Assets, End of Year $810,030.00 Capital lease obligation, less current maturities $0.00 Total liabilities $21,152.00 Note: Audited financial statements Net Assets accompanying the balance sheet are Unrestricted $756,030.00 available upon request. Permanently Restricted $54,000.00 Total net assets $810,030.00 Total liabilities and net assets $831,182.00 Sources of Operating Revenue FY 2008-2009 Operating Expeness FY 2008-2009 ` 2% 12% PROGRAMS 23% CONTRIBUTIONS FOUNDATIONS 18% FUNDRAISING ADMINISTRATION 2% 3% 3% 67% CFC* BEQUESTS EVENTS (net) 70% OTHER**
SUPPORT OUR AGING RELIGIOUS, INC. 900 VARNUM ST., NE WASHINGTON, DC 20017-2145 PHONE 202-529-7627 FAX 202-529-7633 INFO@SOAR-USA.ORG WEBSITE:WWW.SOAR-USA.ORG COMBINED FEDERAL CAMPAIGN NUMBER: 10041