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Funding for the Future Creating a sustainable plan to streamline funding and maximize contributions to the church.

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Presentation on theme: "Funding for the Future Creating a sustainable plan to streamline funding and maximize contributions to the church."— Presentation transcript:

1 Funding for the Future Creating a sustainable plan to streamline funding and maximize contributions to the church

2 Funding for the Future The Proposal: As James Wright discussed in his Lay Leader Minute for the March Newsletter, the ongoing maintenance of the church is becoming a problem that will only get worse with time. In addition to the maintenance shortfall, there are a number of big ticket items that are going to have to be addressed in very near-term. To address this, we propose streamlining current accounts into two giving options that will sustain the church into the future with both a short-term fund that will be used as a collection vehicle for all capital improvements, and long-term fund that as it grows will be used as a primary maintenance fund.

3 The Problem:  Multiple accounts earning relatively little return  Confusion on what each account is to be used for  Confusion as to where money received should be placed  Lack of transparency for WC members  No clear options for giving  No recognition for those who do give

4 The Solution: Create two options for giving to the church 1.Building for the Future Fund  Use this as an account for capital improvement projects and fund raising campaigns such as the roof, repairing the windows, updating the kitchen, etc.. This account will ebb and flow based on the need and will remain invested in relatively liquid assets 2.Walker Chapel Endowment Fund  Use this as a maintenance account that will grow over time. The corpus is not touched except in times of emergency and for maintenance of the cemetery

5 The Solution: Two options for giving Current Structure Operating $ 9,131* BFTF $ 11,703 Benevolence $ 11,729* B&G $ 88,141 Cap Imp $ 32,834 Cemetery Operating $ (6,812) Cemetery Perpetual $ 86,164 Cemetery Headstone $ 1,350 Memorial $ 26,449 Moving $ 3,083 Youth $ 13,612 Children's (Barb Roberts) $ 3,772* Roberts Homeless $ 3,009* Total $ 284,166 1) Building for the Future BFTF $ 11,703 Cap Imp $ 32,834 Moving $ 3,083 Youth $ 13,612 ** Total $ 61,232 2) Walker Chapel Endowment Fund B&G $ 88,141 Cemetery Operating $ (6,812) Cemetery Perpetual $ 86,164 Cemetery Headstone $ 1,350 Memorial $ 26,449 Total $ 195,293 *Funds not moving to the BFTF or the WCEF will remain in liquid MMFs or checking accounts. ** this amount will be “earmarked” for youth projects

6 Maximize Giving As we roll out the two new giving options, we will also roll out a new program for planned gifting through wills and estates.  Have a one page form/clause that can be added as an addendum to a will  Make sure that we have a brokerage account/mechanism available for gifting of stock and securities  Have Rev. George Neas come to the church to present options for planned giving to the church  Provide a record of giving so that those who give will have a place in the history of Walker Chapel (leather bound book placed in the front of the church or other options).  Outreach to those families who have loved ones buried at Walker Chapel  BFTF will still have the car magnets as an ongoing incentive  Other options to be discussed

7 Current investment returns are de minimus Only a small percentage of funds are invested and current returns on invested capital is less than 1% annually Creation of an Investment Committee  Investment committee would recommend ways to maximize the returns on the 2 funds. o Goal: Invest more funds rather than have the majority of funds sitting in a money market account or checking account  Investment options will be explored by the investment committee for recommendation to the Church Council

8 Funding For The Future Next Steps 1.Streamline funding into 2 accounts 2.Finance Committee forms the Investment Committee (Goal is to complete investment recommendations by August when the first CD comes due). 3.Finance Committee embarks on a summer-long education campaign


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