St. Nicholas Greek Orthodox Church Endowment Fund Update for the Argonauts May 10th, 2018 Stephen Karniotis & Nick Feles

Agenda Background Board of Trustees Financial Status Donation Strategy How you can help grow the Endowment Fund Q & A

Endowment Fund Background Started in 2006 with donations from Helen ”Elie” Manos Additional donation from Tom & Beck Demery brought the value to $ 1,000,000 in 2007 Primary Goal: Provide long term financial stability to support programs, ministries, organizations, and charities of Saint Nicholas Is not used to pay church operating expenses

Current Board of Trustees Current Trustees: Stephen Karniotis, Chairperson Nick Feles, Secretary Aaron Cloutier Patrick Crosson Dino Kostopoulos Timo Nicholaou Financial Advisor: Mark Corombos, Partner, Plante-Moran Ex-Officio Fr. Stratton Dorozenski Fr. Michael Manos Peter Michalakis, President, Parish Council

Current Financial Status Financials as of April 30th Current Value: $2,105,363 Distributions via the Endowment Fund since 2006 Over $ 420,000 FY 2017 ROI = 14.4% ROI since inception = 5.37% Argonauts have received $ 64,275.55

How Distributions Occur Fiscal Year ends October 31st Distributions occur only when the Fund is profitable 50% of the profit is invested back into the fund 50% can be used for distributions If the Fund is not profitable, distributions do not occur until losses are returned into the fund

Distribution Strategy Allocations specific to donations made via Wills New for 2017: Endowment Grant Application Ministries within the church can apply for an Endowment Grant For 2017, $ 54,500 was allocated via the Endowment Grant Process

Results of the 2017 Grant Program 4 Grants were received by 10/31/2017 Men’s Lenten Retreat Community Center Technology Support Senior GOYA Trip to NYC to visit the Archdiocese, St. Nicholas Shrine, etc. Various ministry programs supported by the Parish

Pictures from the GOYA Trip

Grow The Endowment Fund Here’s the list of items that can be donated Bequest (Will) Matching Gift Gift of Cash Gift of Securities Gift of Life Insurance Gift of Real Estate Qualified Retirement Plans Charitable Gift Annuity Deferred Gift Annuity Charitable Lead Trust Charitable Remainder Trust

How to Donate To The Endowment Fund Consult your attorney Ask a Board of Trustees Member Ask Father Stratton or Father Michael Church Tax ID: 38-1392698 All donations must include the Church’s Tax ID and specifically designate the St. Nicholas Endowment Fund as the recipient of the donation. Any other stipulations must be fully documented with the donation.

Questions & Next Steps

Thank You