403 Use of Lease Proceeds From Parish School Buildings
403 USE OF LEASE PROCEEDS FROM PARISH SCHOOL BUILDINGS
Net proceeds will be distributed as follows, based on the parish’s average annual offertory for the last three years and whether the parish has outstanding debts and obligations, including but not limited for:
- Insurance
- Cathedraticum taxes
- Previous unpaid Special Assessment of Parishes for the Support of Catholic Schools
- Unfunded pension obligations
- Outstanding loans from the parish or school from the IPLF or other loans from the Archdiocese.
- Any other unpaid obligations of the parish or school.
Parishes or schools that have debts and obligations to the Archdiocese
Parishes with annual offertory of less than $100,000 per year (three year average).
| Percentage | Distributed to: | Use |
| 47.5% | Parish | Determined by Parish |
| 2.5% | School Fund | School Fund |
| 50% | Archdiocese | Repayment of Debts and Obligations |
Parishes with annual offertory of less than $200,000 per year (three year average).
| Percentage | Distributed to: | Use |
| 45% | Parish | Determined by Parish |
| 5% | School Fund | School Fund |
| 50% | Archdiocese | Repayment of Debts and Obligations |
Parishes with annual offertory of less than $300,000 per year (three year average).
| Percentage | Distributed to: | Use |
| 40% | Parish | Determined by Parish |
| 10% | School Fund | School Fund |
| 50% | Archdiocese | Repayment of Debts and Obligations |
Parishes with annual offertory between $300,000 and $399,999 per year (three year average).
| Percentage | Distributed to: | Use |
| 30% | Parish | Determined by Parish |
| 10% | School Fund | School Fund |
| 60% | Archdiocese | Repayment of Debts and Obligations |
Parishes with annual offertory $400,000 and over (three year average).
| Percentage | Distributed to: | Use |
| 10% | Parish | Determined by Parish |
| 20% | School Fund | School Fund |
| 70% | Archdiocese | Repayment of Debts and Obligations |
Parishes or schools without debts and obligations to the Archdiocese
Parishes with annual offertory of less than $300,000 per year (three year average).
| Percentage | Distributed to: | Use |
| 80% | Parish | Determined by Parish |
| 20% | School Fund | School Fund |
Parishes with annual offertory between $300,000 and $399,999 per year (three year average).
| Percentage | Distributed to: | Use |
| 75% | Parish | Determined by Parish |
| 25% | School Fund | School Fund |
Parishes with annual offertory $400,000 and over (three year average).
| Percentage | Distributed to: | Use |
| 70% | Parish | Determined by Parish |
| 30% | School Fund | School Fund |