Dear Prince of Peace Community:
The Pastoral leadership of our parish is so grateful to God for the blessing of this community. In the midst of this uncertain time, we are reminded of what an incredible and generous parish family we have at Prince of Peace. Our staff is working tirelessly to extend our community outside of our parish doors and to provide you opportunities to encounter the Lord in your homes. Likewise, our school is incredibly thankful to all of the teachers, students, and especially parents who have worked together over the last few weeks and truly embraced eLearning.
Unfortunately, COVID-19 has had a dramatic impact on the financial health of our Parish. In full transparency, Prince of Peace is a large Parish and School with significant outreach. It is only through the generosity of our parishioners that we can accomplish all that we are able to provide.
In these unusual and uncertain times, we are facing large cash shortfalls—only $83,000 coming in regularly each month to cover the $220,000 in structural costs that remain. We need everyone to continue giving faithfully, to prevent the loss of ministries and staff members that have served you until now.
On average we collect around $260,000 per month in regular contributions. Of that, only 31% are from recurring and one-time online contributions set up through WeShare. The remaining 69% of our contributions fluctuate – as they are received through the mail and/or in the basket at Mass. In these times where we’re unable to gather for weekly Mass, we are experiencing a significant decline in contributions.
As we have previously communicated, we have eliminated every variable expense we can, including dropping utilities and maintenance to minimal levels. The only remaining significant costs we plan for are an approximate $34,000/month assessment fee to the Diocese, a $21,000/month contribution to our school, and the salaries and benefits for our 28 Parish Employees (totals to around$126,000/month). As a first step in managing payroll, we have asked the staff to use at least one week of their paid-time off allotment during the month of April. We also recently learned that we could apply for funds under the CARES Act legislation (recently signed into law). We quickly prioritized this and did, in fact, apply on Saturday! We are currently awaiting a response to our request.
Here is how you can Help:
If you’re able, and not already doing so, sign up for WeShare here to begin providing your gifts via regular, recurring payments. This way we know how much money to plan on going forward.
We are excited to announce that we have created a Venmo! To donate download the app and search “@POP-CHURCH” Please note that donations made on Venmo will not be included in your annual contribution letter.
If you would like to continue to physically contribute, and as you’re able, please mail weekly envelopes/checks to Prince of Peace at 5100 W. Plano Parkway, Plano, Texas 75093
If you normally make your gifts later in the year, please consider accelerating those payments and give today as you’re able.
Thank you again for your unwavering partnership. We pray that you all continue to stay safe and healthy. We know that you are being besieged by so many worthy causes, but we would invite you to remember “Charity begins at home,” and your spiritual home is here at Prince of Peace. So please pray and think about how you can continue to be a resource to us as we strive to be a resource to you and to others in this midst of this pandemic. Like you, we all look forward to the day when we can gather together, face to face, and especially in celebration of the Eucharist. Thank you in advance for your gracious response to this need.
In God’s service, and serving you,
Father Tom Cloherty
Pastor, Prince of Peace Catholic Community
Chad Evans
President, Prince of Peace School
Rick Bartel
Chair, Prince of Peace Finance Advisory Chair
Ben Vega
Prince of Peace School Finance Advisory Committee