Financial Statements
As a non-profit institution, St. Michael’s does not receive any subsidies from any governmental agencies or from the Archdiocese. Since its opening in May of 1958, the Home has been self-sufficient and depends on the boarding fees its residents are able to offer as well as donations received from its many steadfast friends. Approximately, one-quarter of the Home’s operating expenses are covered by contributions and truly, the quality of life for residents would be greatly diminished without this critical source of income.
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To assure a steady source of income, the Home recently established an Endowment Fund in which the principle will remain intact and a portion of the interest will be used to underwrite those programs necessary to provide quality care.
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2020-2019 Financial Statements