CHRIST CHURCH GREENWICH 2016 Financial Report January 22, 2017

Discussion Topics 2016 Financial Accomplishments Review of 2016 Results Financial Objectives – 2017 and Beyond Conclusions

Key Financial Accomplishments Operations – 2016 was the 6th consecutive break-even + year Improved financial management with new finance and operations director Capital Campaign – Raised $10 million Completed $8 million renovation on budget & on time

Key Financial Accomplishments Cont’d Endowment Formed Endowment Commission (EC) Engaged Fiduciary Trust to advise EC on investments Vestry approved EC recommendation to reduce endowment debt and draw EC implementing UPMIFA best practices

Financial Results – Snapshot $ in 000’s   2016 2017 Budget Income $ 2,347.0 $ 2,329.0 Expenses Programs $ 432.0 $ 382.0 Operating $ 1,913.0 $ 1,946.0 Total Expenses $ 2,345.0 $ 2,328.0 Net Income $ 2.0 $ 1.0

2016 Income - $2,347,000

2016 Expenses - $2,345,000

Income and Expense Trends

What are our priorities?

Financial Objectives – 2017 and Beyond Increase overall parishioner income Enhance stability and growth of endowment Develop and implement the next phase of the capital projects plan Develop capital budget Develop plan for best use of buildings and property

Conclusions We have successfully: Eliminated operating deficits Restored our campus Going forward, we want to: Generate more income to fund programs and operations Develop a stable funding source for capital projects

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