Finance Ministry
The Finance Ministry is managed primarily by a Finance Committee, which monitors the financial life of the church, including operating budgets, capital funds and investments. The committee directs formulation of the budget and oversees how funds are spent. It coordinates with the other church ministries and groups on financial matters.
Budget Process
As part of our Covenant, the congregation of Fauntleroy Church is responsible for its own financial life.
Every year, typically in February, we begin to think about what we would like to do in the next year and what it might cost. This thinking and planning takes place in ministries, the Church Council and subgroups of each of them. By April, we develop a preliminary budget, based on needs and our best guesses of what people will pledge.
After the stewardship campaign, the Finance Ministry draws up a proposed budget and presents it first the Church Council and then the Congregation at its annual meeting in June.
As of 2009, the church's annual budget was about $450,000. Of that, a bit more $50,000 goes toward ministries of the United Church of Christ and local ecumenical and service agencies beyond our walls. Over 75% of our income is pledges and donations from members and friends. About 10% comes from building use fees, including the YMCA (see link), which shares our building, and Little Pilgrim School, which pays a small fee as well. About 7% comes from endowments
The Endowment Program of Fauntleroy Church
In 1976, several members of the Fauntleroy Church began a GEM (Gifts, Endowments and Memorial) Board. The members of the Board contributed their own funds to begin an endowment program that has grown to about $1 million. The congregation is very grateful, not only to the particular members of the Board, but to all of those who have contributed to an endowment.
An endowment is a fund to which people contribute special gifts, bequests and memorials. The funds are invested and the interest and growth is used to support the life and mission of the church. The basic gift itself is not used. So, the gifts of members and friends continue to give through these endowments long after they may have died.
As of 2009, we have fourteen different endowment funds. Each of them supports different areas of the church's life or special projects, such as the Music Program, Adult Education or the Outreach Ministry.
The endowment program is now managed by the Finance Ministry through an Investment Committee. For more information about the Endowment program, the different endomwents and/or how you can participate, contact Lucy Gaskill Gaddis or David Kratz.
Updated: 05/01/09: D. Kratz: B. Ackers
