Tuesday, February 23 2021
St. John’s Episcopal Church
With the addition of new members Andrew Bird and Fawn Hacker, regular monthly meetings of the Finance Committee will resume in March. We would still like to add one or two additional members to continue the work of this important committee. If you are interested in serving on the Finance Committee, or know someone who may be, please contact me.
Our Current Financial Condition
Our Budget Report for January 2021 may be found by clicking here, or by going to our website, www.stjohnsoly.org, clicking on “About Us”, then clicking on “Our Vestry” and scrolling to the bottom of the page. As of January 31, 2021, our year-to-date operating deficit was -$2,394.74, a positive variance to budget of $8,895.79 attributable primarily to the timing of the payment of some recurring bills in February rather than January. Pledge payments in January were $19,193.00, ahead of budget by $318.00.
We are still awaiting documents from Bessemer Trust in New York City regarding a $10,000.00 unrestricted cash bequest. We have two additional sources of funds for operating expenses: the EIDL loan proceeds and our (endowment) account with the Diocese of Olympia Master Trust.
The EIDL funds, $134,900.00, are currently invested in an Investment Advisory Account with Edward Jones. Currently, the market value of the account is $140,592.07.
With Vestry approval, we have withdrawn $115,000.00 from the General (Unrestricted) Account with the Diocese of Olympia Master Trust to apply to the cost of the asbestos abatement currently underway in our sanctuary. The current balance in this account is approximately $35,000.00.
Capital Campaign Update
Exciting work continues on our capital campaign! We have completed the writing and creative design work for our brochure, pledge card, and envelopes and delivered them to the printer. I hope you are enjoying our “Campaign Corner” updates each week in The Messenger.
I’d like to acknowledge and thank the members of our “Capital Campaign Team” for giving so generously of their energy, insight, time, and talent: Andrew Bird (Gift Worker), Caitlin Bird (Communications, Gift Worker), Jerry Campbell (Consultant), Michael Clifthorne (Gift Worker), Fawn Hacker (Gift Worker), Anne Hall (Campaign Coordination, Database Management), Lou MacMillan (Gift Worker, Photographer), Bob Peck (Campaign Prayer), Barbara Scheppele (Creative Design, Print Materials), and Tieran Sweeny- Bender (Administrative and Technical Support, Communications).
Early gift solicitation will begin on Sunday, March 7; our campaign kick-off will be on Easter Sunday, April 4, and we will celebrate the conclusion of the campaign on Pentecost, May 23.
We are accepting gifts to the capital campaign. If you would like to make your gift online, please go to our website to our website, www.stjohnsoly.org, click on the “Give Online | Done aqui” button, and select the new “Capital Campaign” option. If you prefer to make your gift by check, please make the check payable to “St. John’s Episcopal Church Capital Campaign” and mail it to St. John’s Episcopal Church, PO Box 977, Olympia, WA 98507. If you would like to make a gift of stock, please contact me at email@example.com for instructions on how to transfer the stock to the St. John’s | San Juan account.
As always, I welcome your comments and questions about our financial condition and capital campaign.