TM February 16 th 2014 St James Episcopal Church Annual Update 2013

GROWTH (Spiritual, Membership, Stewardship) Our Parish if Growing…… –Spiritual-Outreach food and clothing responded to the community’s needs –$8,186 of food purchases in addition all the food and clothing donations from our parish and the community –Membership-437 Members on our parish list at the end of 2013 –429 members were on the parish list at the end of 2012 –150 members were contacted and removed after confirming they were not a member due to just visiting, relocation, transferring, etc. –29 new families have joined St. James’ –Stewardship Pledges are at record levels! –92 Pledging units (a record number) –Totaling $200,593 (a record amount) Jesus tells his disciples “for where your treasure is, there your heart will be also” (Matt 6:21). Your commitment reflects your heart and your willingness to use your treasure for the ministry of Christ through the ministries of St. James’ Parish. You and all who have participated are a great blessing. Our prayers are being answered!! Thanks be to God!

St James’ 2013 Financial Update Section 1 – Balance Sheet Section 2 – Review of Endowments Section 3 – 2013 Results of Operations Section 4 – 2014 Budget Discussion

Some Important Points before we begin the Financial Review What a Difference a Year Makes! Our Operating Shortfall declined 60% to ($14,000) from ($35,000) –Many people came through and made extra donations beyond their pledges!! Thank you for your praises to God!! Endowment balance is up 31% to $616,000 –We decreased the amount withdrawn from the endowments by 46% Withdraws were only $19,000 for capital projects (as opposed to support operating shortfalls) –Stock market helped, but so did Bequests!! The 2014 Budget is basically balanced on an operating basis!! –It’s based on realistic assessments of likely revenue and expenses No more “faith based or hoped for” income!! Vestry may elect to make withdraws from the endowment in 2014, but they will be for specific projects and improvements not to balance the budget –

Section 1 - St James Balance Sheet (Page 1) 1

Section 1 - St James Balance Sheet (Continued) 2 $16,000 Lower than 2012!! Stock Market Helped us Out Bequest and “found” Blackrock funds

Section 2 – 2013 St James Endowment Composition Substantial improvement in the ratio of Restricted vs Unrestricted funds 41% of endowment is unencumbered vs less than 25% in

Section 2 – St James’ Endowment Burn Rate Assumes: Annual planned transfers for specific projects $25,000/year Endowment Valuations remain constant Increase in Endowment and reduction in the burn rate have really secured our Parish’s future! 4

Section 3 - St James’ Summary of Operating Income and Expenses versus Budget 5 There was a lot of “faith” in this amount. It certainly was justified.

Section 3 - St James’ Summary of Operating Income and Expenses 2012 versus Praise be to God!! That’s a 16% Increase in Giving. Look how much Bequests help your parish!!

Section 3 – St James 2013 Operating Cash Sources Big Improvement over 2012 (88%) 6

Section 3 – St James 2013 Operating Cash Uses 7 Operating expenses were a bit higher than 2012, but mostly because increased donations allowed the Parish to spend more on Building Improvements and Outreach

Section 4 - St James’ 2014 Budget 5 Really close to Break-Even!!