trinity cathedral's 2016 treasury report
TRANSCRIPT
ANNUAL MEETINGMay 1, 2016
ANNUAL MEETINGMay 1, 2016
Treasurer’s Report
o Exceeded goal to reduce reliance on the Endowment – 4.68% draw including capital.
o Explored financially & mission generative models for use of our Unique Sacred Space
o Exceptional programming - worship and interfaith experiences, education & formation, congregational life, and civic & community service.
2015 Highlights
Inspire. Imagine. Ignite
o 2016 – A Year to Invest o Bicentennial – Events, Marketing, Bannerso Model for our unique sacred spaceo Discernment, Feasibility, and Potential Capital Campaigno Brighten our Sacred Architecture (tower lights, door
restoration) and ongoing maintenanceo Mather Hall – Negotiate a possible Land Leaseo Staff & Benefits – Basic increases jobs well done, health
insurance, trainingo IT Upgrades – per joint Diocesan assessment done in 2015
Strong– Congregational Support
$679,954
$700,827
$723,404$716,819 $718,100
$670,000
$680,000
$690,000
$700,000
$710,000
$720,000
$730,000
$740,000
2012 2013 2014 2015 2016
AMO
UN
T IN
DO
LLAR
S
YEAR
CONTINUED CONGREGATIONAL SUPPORT
Improvements – Commons Earned Income
2015 Budget: $336,401
Improvements – Commons Subsidy
2015 Budget: $279,693
Improvements – Endowment Draw
Year Endowment Draw (Percent)
Additional Draw
Additional Draw Operations (Percent)
Additional Draw Capital or Extraordinary (Percent)
2011 5.95% $201,228 76% 24%
2012 6.37% $274,410 82% 18%
2013 6.46% $265,500 95% 5%*
2014 5.31% $53,948 0% 100%**
2015 4.68% $18,770 0% 100%
Efforts to reach 5% endowment draw by 2016
*In addition $83,000 net was drawn from LOC for major steam and building automation system** With additional draw on LOC of $ 2,200 net
Improvements - Endowment
Year Reliance on Endowment to Support Operations
2000 80%
2013 50%
2014 42%
2015 39%
2016 Budget 47%
2015 Performance – Income
Trinity Cathedral Consolidated Operating Activities 2015 Actuals 2015 Budget
INCOME
Congregational Pledges, Contributions, Offerings, Gifts $716,819 $735,140
Grants* $173,160 $162,820
Earned Income $305,314 $313,717
Friends Support $55,916 $40,300
Investment Transfers (5% Portion)+ Other $850,477 $926,588
Additional Draw from Invested Funds for Operations $0 $120,841
$2,101,685 $2,299,406
2015 Performance – Expenses and Net
EXPENSE 2015 Actuals 2015 Budget
Salaries & Benefits $1,065,972 $1,141,662
Contract/Professional $262,401 $331,159
Food/Equipment/Supplies $68,646 $84,461
Rent/Utilities $135,318 $149,135
General Office $59,176 $72,161
Marketing & Communications $61,457 $99,592
Maintenance $139,197 $105,934
Other Programming $3,405 $5,550
Travel, Mileage $27,451 $18,668
Dues, Memberships and Contributions $19,962 $20,600
Interest & Bank Fees $13,029 $13,277
Assessment, Portions, Taxes, Adjustments $245,517 $257,207
$2,101,541 $2,299,406
Net Operating Activities $143 $0
2016 Budget by Program Area
2016 Budget by Program Area
THANK YOU FOR YOUR SUPPORT.