How our Parish Finances work
Like any other parish, our parishes depend on the voluntary offerings of our parishioners to meet the running costs of the parish and the services and ministries we offer. Traditionally the bulk of our income derives from the collection at Sunday Masses. Other traditional streams of income include offerings for Shrine Candles, Bequests from Wills, Donations and Fundraising Drives. In recent years, for example, parishioners have responded very generously to fundraising campaigns to support the renovation of the Oratory in Ringaskiddy, the upgrading of Shanbally Church including a new floor and the painting of the interior, renovation works in St Mary's Church in Passage West including the resurfacing of the Church grounds, remedial works to prevent dampness, renovation of the toilet area and the painting of the interior and exterior of the Church. Shortly we hope to begin a fundraising campaign to offset cost of the installation of an access-for-all toilet and ancillary services in the grounds of Monkstown Church.
All monies received in our Sunday Collections and as donations go directly to meet the running costs of the parish. The priests of the parish do not receive any money from these collections but from separate offerings from parishioners which are detailed below.
Each parish in the diocese pays a levy of 10% of its Sunday Collection to the Cork & Ross Central Diocesan Fund to help fund the running costs of the diocese and the services it provides. Each parish also pays a levy of 8% of its Sunday Collection to the 'Cork & Ross Priests' Benevolent Fund' which provides for the care of retired priests and those who are ill.
In recent months we have created new opportunities for parishioners to donate to the parish, such as online donations and standing order. The focus of these new initiatives is not to ask people to give more but rather to create new ways for people to contribute in ways that best suit them. We thank all those who support our parish financially. Please click on the links below for a summary of our Annual Financial Reports in recent years. Please note that while the Harbour Parishes functions as a single pastoral unit, for the purposes of administration we are required to keep separate accounts for Passage West Parish and Monkstown Parish [which incorporates Monkstown, Shanbally and Ringaskiddy]. Each parish has its own Parish Finance Committee, made up of clergy and lay people, who oversee the parish finances and approve any capital projects in advance. Please click on the links below to see the Income & Expenditure Reports for each of our parishes for 2018 and 2019. Our Annual Financial Reports are prepared by PF Lynch & Co Accountants and submitted to the diocese each year as part of our obligations to the Charity Regulator's Office.
Income Tax Rebate on donations made to parish.
If an individual donates €250 or more to her or his parish in a calendar year, the parish can claim a refund of tax paid on that donation at a specified rate, currently 31%. In the case of a donation of €250, this equates to an additional benefit to the parish through a tax refund of €112 at no additional cost to the individual and will see the value of their donation rise to €362. Any contribution or donation made to the parish using the Sunday Offering Envelopes, the online Donate facility, or by standing order qualify for this scheme.
For more information on how you can make your contribution go further please contact the Parish Office.
Annual Diocesan Collections
These collections are taken up during the year as a second collection in Church, usually one per month. They help to fund the diocese and services which provide support and advice to parishes in areas such as schools and education, safeguarding, GDPR, Garda vetting, pastoral development and training, legal and accounting services.
They also support local, national and universal Catholic charitable causes, e.g. Mission Sunday, the Holy Places in Jerusalem, Marriage Support and Papal Charities.
The priests of the parish do not receive a salary as such from the parish in the sense that they do not receive any of the money contributed by parishioners to the Sunday Collection or donations made to the parish. Rather, the income of the priests is made up from the following voluntary offerings of parishioners:
Offerings received for the celebration of Baptisms, Weddings and Funerals.
Spring Dues Offering Envelopes
Autumn Dues Offering Envelopes
November Novena for the Deceased
We are deeply grateful to our parishioners who contribute so generously and faithfully to support the priests of our parish.
Within the diocese of Cork & Ross the priests of the diocese operate a Diocesan Fraternity Fund to ensure that all priests receive an equitable income regardless of the parish in which they serve. Priests who earn above the annual threshold contribute to the fund to help bring the income of others up to the threshold. All priests of the diocese are liable to income tax on this income and are assessed as self-employed for the purposes of taxation.
DONATE ONLINE USING THE PARISH 'DONATE' BUTTON
Many people are increasingly using online payments as a quick and easy way to pay bills and to contribute to different organisations. Parishes in Cork & Ross have engaged Easy Payments Plus to manage our online donations. It provides a safe, convenient and confidential method for making a once-off or recurring donation to your parish, the diocese or your local clergy.
Click the Donate Button on the homepage of our parish website.
Choose which of our parishes you wish to donate to.
Click once on a DONATE option to donate to one of the collections listed.
Fill in the amount you wish to donate [either a once off donation or a recurring donation] and your Bank Debit/Credit Card details and follow the instructions to the end.
PARISH BANK ACCOUNT DETAILS
PASSAGE WEST PARISH
Name: Passage West Parochial 1 Account
IBAN: IE09 AIBK 9341 7879 4470 62
Name: Monkstown Parish No 1 Current A/c
IBAN: IE09 AIBK 9343 1321 4151 48