Project Type: Assist Parishes in Financial Planning and Analysis, Debt Management, Refinancing, Capital Projects and the preparation of Financial Documents for Archdiocesan Review
Client: Parishes of the Archdiocese of Saint Paul & Minneapolis
A Parish Financial Partner
BACKGROUND: John Bierbaum, as CFO, Director of Finance and Administration and Corporate Treasurer of the Archdiocese of Saint Paul and Minneapolis, helps shape the structure and systems of the financial operations of the Archdiocese. As part of his work, he analyzes financial reports and programs of parishes and submits his review to the Archbishop.
CLIENT REFLECTION: I rely on Catholic Finance Corporation to assist parishes that are preparing financial documents for Archdiocesan review. Their work is high quality, particularly in their service assisting parishes prepare their financial reports and long-range forecasts to be submitted to our office. When CFC is involved, the submissions are in very good shape, excellent. I feel comfortable when a parish submission bears "the CFC stamp."
One of their strengths is that they collaborate with parish leadership, define a viable project and ensure that everyone understands the advantages and the risks. They bring together both financial acumen and a genuine understanding of parish life. Because they are involved with a number of parishes, they have a global perspective of what's happening in parishes, trends in the world of finance, construction trends, the interests and styles of the various lending institutions and programs and the pitfalls of construction projects. They bring real-world analysis to any financial situation. When there is financing involved, I am confident that CFC checks all the finance options and comes up with "the best package" for the parish.
There is no doubt that they are of value to the Catholic financial world. First, they are a Catholic institution, but one that is independent of the influence of the Archdiocese. I don't know of any other such organization in the country.
"The first thing I would say to a parish is, 'Have you talked with CFC?'"
- John Bierbaum