Our restricted endowment has a balance of approximately 1.9 million dollars. Those balances continue to grow and have been utilized to fund various ministries in our parish.

Our general endowment has a current balance of approximately 1.5 million. Six years ago, that balance was around 2 million dollars. Due to instability in the market and taking large draws from that to balance our budget we have overspent that endowment. The last two years we have increased that endowment as opposed to drawing it down further. We are working hard to creatively look at our finances and ways to lower our reliance on our general endowment to protect that asset for future years.

Part of the reason for overspending our general endowment, is that we continued to function as a large congregation long after it became clear that we no longer were a large congregation. We are a small congregation worshiping in a large church building. The costs to maintain the building are large and generally fixed. We are working to develop alternative revenue sources by renting out portions of the building through joint partnerships in our community.

Our hope is that our new rector will join us in building relationships in the community so that we can be good stewards of this beautiful building we get to worship in.