My Dear Friends in Christ,
On behalf of Bishop Malooly and the Diocesan Finance Council, I am pleased to present the audited financial statements of the Diocese of Wilmington, Inc. for the fiscal years ended June 30, 2015 and 2014. The statements were audited by Belfint, Lyons & Shuman, Certified Public Accountants. Despite a slight investment loss, fiscal year 2015 was a good year for the Diocese as net assets grew by more than $3 million, or 10%. The success of the Sustaining Hope for the Future Capital Campaign was a significant contributing factor. Of the $33.3 million in total net assets, approximately $23 million are restricted in use, with the balance available for any purpose.
The Diocese is responsible for the financial resources which have been entrusted to it. This responsibility includes safeguarding assets, exercising prudence in financial matters, and accountability to those who so generously provide monetary support. Of course, without this generosity, the many pastoral, educational, and charitable services and ministries the diocese offers would not be possible. We are extremely grateful for your support.
Consistent with the ideals of accountability and transparency, it is the practice of the Diocese is to include the complete set of financial statements on the Diocesan website, which we have now done for the second consecutive year. We invite you to review them through the link below:
Joseph P. Corsini
Chief Financial Officer