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TRINITY CHURCH
ANNUAL REPORT - 2021

FINANCE

Investment Team

As of September 30, 2021, Trinity’s assets included two Money Market deposit accounts, at First Citizens Bank and Self Help Credit Union with combined balances of $288,782, an operating checking account and an investment portfolio managed by Parsec Financial that is comprised of restricted, unrestricted, and Legacy assets of Trinity Church with a balance of $1,335,600. Additionally, Trinity is blessed to be the income beneficiary of three endowed accounts at the Community Foundation of WNC with combined balances of $1,800,358.            

                    

Trinity also receives income from a portfolio that is managed by Wells Fargo as Trustee. This account was established in the 1960s by a gift from a generous parishioner.

 

Our focus continues to be on being good stewards of the  assets of the parish. Our funds have enjoyed a good year, and this year we received a full distribution from our funds at the Community Foundation, after receiving a reduced distribution in 2020 due to market declines related to COVID. We will meet November 4th to make our recommendation to Vestry for the distribution from our Parsec funds. 

 

It has been a great blessing to have served yet another year as Chair, and to have served on this committee since its’ inception. 

Respectfully submitted,

Chad Hardy

Chairman of Investment Team

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The Investment Committee was established ten years ago to supervise, monitor, and evaluate the investment assets of Trinity Church and to recommend an annual distribution from these assets to the church budget.

We meet four times per year to review investment performance, meet with our investment managers, Parsec and the Community Foundation of WNC, and formulate recommendations for the Vestry to review and consider.

This year, our committee membership consisted of The Rev. Dr. Scott White, Senior Warden Brad Wilson, Treasurer Nancy Brooks, Finance Director Dillon Manly, Financial Assistant Jan Hildebrand, Fred Groce, Jeff Howden, Vince Childress, Jim Gunn, Dianne Weaver and Dr. Al Shivers.  I am grateful for the dedicated service of this talented group of Trinitarians.

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Stewardship Team

 

During the darkest times of COVID-19 when the church was closed to in-person gathering and the offices were empty with employees who had gone home to work, Trinity parishioners stepped up to the plate and generously sustained our treasury. The staff and our mission work could have been severely compromised, but we were able to come out on top even with new technology to help with live streaming and continue all of our Christian Education programs and Outreach ministries. For this we are deeply grateful.

 

Trinity is strongly dependent on pledged giving to reach our budgetary dreams for each fiscal year. Last year, we began with an electronic campaign. It was easy to do and was well received. For 2022, 60% of our pledgers have already responded online. The next ask was done by US Mail and we will finish up our campaign with Vestry members reaching out to those who have not had a chance to respond to the online or written pledge requests. We have reached out to 536 households and our goal is 100% participation. No pledge is too small. Or too large!

 

We could not do all this work without the help of our Stewardship Team which is comprised of our Wardens, Brad Wilson and Binford Jennings, several staff including Dillon Manly, Jan Hildebrand, Jo Rice, Ken Wilson and Scott White and Vestry liaisons, Robert Haden and Page McCorkle. Our theme is appropriately, “Gratitude Yesterday, Today and Forever.”

 

Respectfully submitted,

Dillon Manly

Finance Team

 

The Finance Team meets three times during the year prior to the Fall Budget Planning. They review Trinity’s finances and financial policies. This year it was decided to review cash positions every quarter which led to the investment of excess funds in accounts which were not earning interest.

 

In the fall, our team transitions to the Budget committee to draft a 2022 budget for approval by the Vestry by the first of the year. This work could not be done without the support of our team which consists of treasurer Nancy Brooks, Katherine Ray, Linda Watt, Don Weidemann, Dillon Manly, Jan Hildebrand, Brad Wilson, Binford Jennings, and Scott White 

 

Respectfully submitted,

Dillon Manly

Summary of Expenses
January 1, 2021 - September 30, 2021

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