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Finance - Maynooth Parish

Finance

Parish Finance Committee

It is a requirement of Canon Law (Canon 537) that every parish should have a Finance Committee to help the Parish Priest in the administration of the goods of the parish.

The Administrative Guidelines for the Archdiocese of Dublin stipulate that the Parish Finance Committee should consist of between five and eight members, to include all priests of the parish and at least an equal number of lay people. A variety of disciplines should be represented by the skillset of the lay members of the committee.

Meetings are to be held at least quarterly and the minutes of the meetings should record any advice and recommendations made to the Parish Priest.

The Parish Finance Committee advises the Parish Priest of all aspects of parish finances. In particular the members advise on the proper keeping of financial records, the maintenance of proper internal financial controls, the preparation of an annual budget, the recommendation of the annual financial statements that are submitted to Archbishop’s House, the maintenance of the Church and parish property, fundraising initiatives and any other matters that arise which have financial implications for the parish.

The parishes of the Archdiocese of Dublin are registered together as a single entity with the Charities Regulatory Authority. Our Registered Charity Number (RCN) is 20016166. Parishes are also registered with Revenue for tax purposes under the Charity number CHY7424.

Parish Collections

There are three principal collections to which parishioners are invited to contribute regularly.

1. The Family Offering/Planned Giving – This is the money that maintains and upkeeps the parish properties. This includes building maintenance and repairs, insurance, property tax, light and heat, liturgical supplies, printing, postage and stationary, phone and IT, wages, bank charges and accountancy fees. Parishioners support this collection through standing orders, through planned giving envelopes or online via the parish website. This money is solely used for parish expenses.

2. First Collection at Sunday Mass – This money supports the priests of the Diocese, including the priests of the parish as well as sick and retired priests of the Diocese. This collection is remitted in its entirety to the Diocese each week for onward distribution to the priests of the Diocese. The Christmas, Easter and Summer Offerings/Dues are also included in these funds that go to support priests.

3. Second Collection at Sunday Mass – This money goes to the Share fund in the Diocese which supports poorer parishes in the Diocese and which also supports the services provided by the Diocesan offices and agencies. This collection is remitted in its entirety to the Diocese each week. From time to time this second collection is replaced on some weekends by various special collections.

Tax refunds on donations

The Parish, as a registered charity, is able to claim tax refunds from Revenue on certain donations made to the parish. These increase significantly the value of the donations made by parishioners.

The current Revenue rules for the tax refund scheme stipulate that the donor must be a taxpayer. The parish must be able to link the donation made to the individual donor. The minimum amount donated in any calendar year must be €250 to qualify for the tax refund on donations. The donor must sign a form allowing the parish to make the claim. A copy of this form is available here.

Payments to the parish by standing order, online donation, by cash or by cheque generally meet the requirements for linking donations to the individual donor. Many parishioners contribute to the Family Offering in this way thus enabling the parish to claim tax refunds if the minimum annual payment threshold is reached. Christmas and Easter Offerings, whether cash or cheque, where the donor provides their name and address on the Offering envelope also meet the requirements for linking donations to the individual donor.

Example: A parishioner has a monthly standing order for €21. This amounts to a total payment of €252 per year (21 x 12 = 252) which can be linked to the individual donor. The parish can claim a tax refund in this case.

Example: A parishioner has a monthly standing order for €15 and also gives Christmas and Easter Offerings of €50 which have their name and address on the Offering envelope. The total amount in the year is (15 x 12) + 50 + 50 = €280 which can be linked to the individual donor. The parish can claim a tax refund in this case.

Thank you

The priests of the parish greatly appreciate the generosity of parishioners who contribute to the various collections, thereby supporting the priests, the running and upkeep of the parish, the maintenance and upkeep of the parish properties and also supporting the wider Diocesan pastoral, administrative and financial support services.

Further information

For further information on standing order forms, planned giving envelopes, online donations or tax reclaim forms, please contact the Parish Office at 01-6409601 or by email at parishoffice@castleknockparish.ie

Parish Financial Statements

A Report on Parish Finances and a summary of the financial statements for the years ended 31st December 2020 and and 31st December 2019 are available by clicking here.