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First Congregational United Church of Christ - Grand Junction, CO
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Pastor's Report for 2009 Annual Financial
Report
(January 24, 2010) A very long time ago, when I was finishing seminary and working through the process of becoming an ordained UCC minister, one of the questions I was asked on my oral examination was, “What Scripture passage has most influenced your faith journey?” My response was: Matthew 25. The entire passage reads a little harshly in some lights, but it’s the passage where Jesus is talking about caring for others, especially “the least of these,” and says that as we do so, we feed/shelter/visit/care for Him. That has always been deeply important to me, first as a layperson in a church, and now as a minister. That probably won’t come as a surprise to most of you … nor the fact that our church is doing a better and better job of living it out. Most of you will celebrate the fact that during the month of November, our sukkah was filled with hundreds of pounds of food to feed hungry folks here in the Valley. And the fact that during Advent, we collected dozens of items of warm clothing, pajamas, toys, children’s books, more food items, clean socks, razors, other hygiene products, gift-cards, and more that will go to families escaping from violence at home, to individuals and families who have no home, to those whose care we share through ministries like Homeward Bound (the Community Homeless Shelter), Latimer House, Catholic Outreach, and the Salvation Army (two of which we also gave special donations to from last August’s Shrimp Boil and Silent Auction Fundraiser). But do you remember some of the other powerful and life-giving work we’ve done together this year? Like Respite Night, which offers some very special kids and their families great food and a much-needed evening to relax. Like our Prayer Shawl ministry, which donates shawls and lap-blankets not just to our own members who are hurting, but to “people who know people who are hurting” as well. Like our Women’s Fellowship, which continues to maintain bonds with and care for some of our women members who can no longer get to church activities regularly – and our Men’s Coffee Group which does the same for some of our men. Like the wonderful worship we enjoy on Sundays, including the music, which takes a huge number of people to put together, and which feeds the spirits of so many people – some regular long-term members, and others, folks who just need a little temporary soul-care. Like the cards you send and the phone-calls and visits you make just to let people know they are cared for. Like the remarkable bereavement lunches and coffees and dinners that so many of you bake cakes for, or come and chop veggies for, or make soup for, or set tables or wash dishes for. And let’s not forget all the other people we welcome here – some of whom might consider themselves “the least of these” – into our building-spaces – groups like PFLAG, the Homeward Bound Overflow Program (“Room at the Inn”), A.A. and N.A. (a representative of which called just before Christmas to tell me how deeply he and his group appreciate and value having such a safe, inviting, and hospitable place to gather). We also host community groups like Mesa County Library folks, Decorative Arts people, Camera Club, Habitat for Humanity, Western Equality, book clubs, PEO, AAUW, FCE, and Couples of Children with Autism, to name only some. I love it every time I hear someone say, “I didn’t know (that group) met here – that’s great!” Or every time I hear, “you know, I’ve never (fill in the blank … brought in a cake for a funeral, brought towels for the Day Center, brought food for the Food Bank, and more) before, but I’m really glad I did. It feels good!” Or, “I don’t know if I should feel proud about this, but I really am proud that our church does such a good job (again, fill in the blank … the bottom line of which is always, caring for others).” And I love it that our folks – “official” members and regular visitors alike – are so incredibly generous. Even in this year of tremendous economic pain and struggle, you have stepped up, made significant sacrifices of things you would really have enjoyed having, so that our brothers and sisters in this community – those who worship with us, those who are served in other ways by us – can have their needs met. At a time when many churches see their budgets shrinking by 20 or 25 or 30%, ours has managed to hold stable –at a very real cost to most of you. Thank you all for being God’s generous, faithful, giving people. We have so many healthy, faithful, life-giving things happening here it would be easy to become complacent and rest on our laurels. But let’s not! Our gracious God is always calling us to become new people, to create new ministries, to reach out in new ways to our community. So, in the year ahead, let’s listen together, and imagine together. Let’s keep focusing on Matthew 25, but also attend to Rev. 21:5: “And (God) said, “See, I am making all things new.” And on 2 Cor. 5: 17: “So if anyone is in Christ, there is a new creation: everything old has passed away; see, everything has become new!” What might our Still-speaking God be calling to us to do and become in this new year? How will you be a part of it? With gratitude for our ministry together, Pastor Sharyl
The following FCUCC Financial Documents are provided below: Abbreviated Balance Sheet as of December 31, 2009 FCUCC Operating Fund Account 2010 Approved Budget FCUCC Trust Account FCUCC Memorial Savings Account General Endowment Fund Building Reserve Fund Legacy Circle Endowment Fund Resolution Memorial Fund Policy
First Congregational UCC TRUST Fund Account The Trust Account (checking account at Bank of Colorado) holds specific funds that are carried over from year to year. These funds come from endowment interest, fundraisers, donations, grocery coupon sales, and other miscellaneous sources. These funds are restricted for use of specific groups (e.g. Altar Guild, Women’s Fellowship) or for specific purposes (e.g. Finishing Touches, Landscape & Beautification, funds raised for projects such as the new sound system). The account also serves as a holding place for special offerings until payments can be transferred (e.g. Neighbors in Need, One Great Hour of Sharing). The following table shows the major restricted funds in our Trust Account (checking account at Bank of Colorado) and the activity in these funds in 2009. Details regarding income/ disbursements available on request.
TRUST ACCOUNT FUNDS AVAILABLE
Memorial Funds The Trust Account also contains Memorial Funds. These are memorials received by the church from members and their friends, often in the name of a deceased member. Memorial funds may be designated for specific purposes. Undesignated memorial funds are placed into the Undesignated Memorials Account until their purpose is determined. In designating funds, a surviving spouse or other family member may wish to consider special church needs and opportunities beyond the church’s annual budget. A list of current needs is maintained to assist donors and survivors in making decisions about such funds. Memorials for Loved Ones
Memorial gifts in 2009 were contributed in honor of the following individuals:
First Congregational UCC MEMORIAL FUND Savings Account In addition to the Memorial Funds in the Trust Fund (checking at Bank of Colorado) we also have Memorial Funds in a savings account at the Bank of Colorado. Following are balances in this fund as of January 1, 2009 and January 1, 2010. Memorial Funds
GENERAL ENDOWMENT Fund The General Endowment Fund contains gifts to the church, whereby the principal is held intact and only the interest or a portion of the interest may be used. The current practice is that 5% of the interest earned is reinvested into the Fund. There are five categories within the General Endowment Fund, as established in October 2006. Gifts that are directed to the General Endowment Fund may be made to a specific category or spread equally between the following five, according to the donor’s wishes. 1. Christian Education. Grants may be made for special programs for children, youth, and adults enabling them to grow in their understanding of the Christian faith. Moneys may be used for the purposes of attending college and seminary to prepare for a church-related vocation and for church camping, retreats, and leadership conferences. 2. Community Service and Outreach. Grants may be made for programs and services through social service agencies, community action groups, and ecumenical agencies relating to the spiritual, social, and economic needs of persons in the community the church serves. 3. Wider Mission of the U. C. C. Grants may be made for work of the U.C.C. in the USA and overseas in such areas as new church development, professional leadership, educational ministries, evangelism, and world mission. 4. Capital Improvements. (Building Reserve) Grants may be made to provide for major capital improvement of facilities, building programs, and debt reduction that cannot be expected to be raised adequately by annual giving and capital campaign efforts. 5. Annual Church Program. In congregational matters, when annual giving does not suffice to fulfill the need to minister, income from the Endowment Fund justifiably may be utilized for the annual ongoing program of the congregation. Because of the market conditions in 2008 and 2009, the fund has lost Market Value, in spite of earning $6,083.55 interest in 2008 and $5,817.14 interest in 2009. The tables below show the market value of our endowment fund and the interest available for 2010.
Note: December 31, 2009 Book Value = $166,452.00 Available Endowment Income for 2010
BUILDING RESERVE Fund The Building Reserve Fund has come from annual interest from royalties from ownership of an Encana gas property and Endowment Fund interest allocated to Building Reserves. These funds are held for major building expenses (e.g. roof replacement, major furnace repairs). Because of the market conditions in 2008 and 2009, the fund has lost Market Value, in spite of additions and earning $1,144.36 in interest in 2008 and $1,139.75 interest in 2009.
Note: December 31, 2009 Book Value = $50,443.52
The Legacy Circle was established in 2007. It is part of the Endowment Fund that recognizes those who have made a commitment to leave assets to the church upon their death. It does not compete with our annual stewardship drives or occasional capital campaigns. It does not ask for present gifts to the church, but rather for bequests that benefit the church beyond one's lifetime. It encourages planned giving with benefits to the giver and the church. Presently sixteen members have become Legacy Circle members with advanced planning to leave funds to the church upon their deaths. More members are encouraged to join them in planned giving.
RESOLUTION CREATING THE FIRST CONGREGATIONAL CHURCH UNITED CHURCH OF CHRIST of GRAND JUNCTION, COLORADO
OUR PURPOSE It is the purpose of this Church to be a community of Christian love, freely committed to the search of God’s truth as expressed in Christ’s ministry through Christian Fellowship, union in prayer, praise, and worship, reaching out in caring service and mission; in all enabled by the indwelling Holy Spirit. (FCC Constitution, Revised, May 23, 2004) [Click here to view full text of the FCC Constitution for current revision.] To help facilitate our Purpose, there is hereby created the First Congregational Church Endowment Fund for the First Congregational Church United Church of Christ of Grand Junction, Colorado.
PURPOSE: The purpose of the fund is to provide a means whereby gifts to the church may be held with income and/or principal used to fulfill the purposes of the church in Christian ministry and mission. The Church in this construction means the First Congregational Church; any of the ministries of the Rocky Mountain Conference of the United Church of Christ; and any of the ministries of the United Church of Christ, nationally and the world.
MANAGEMENT OF THE FUND: Responsibility for investment and management of the Fund shall be vested in the Board of Trustees subject to the direction of the Church Council as prescribed by the by-laws of First Congregational Church. To assist the Board of Trustees in the investment and management of the Fund, there will be created a standing committee called the Endowment and Financial Advisory Committee.
THE ENDOWMENT AND FINANCIAL ADVISORY COMMITTEE: Hereafter known as the committee, this shall consist of five members, all of whom shall be voting members of the First Congregational Church. The Committee shall consist of the chairperson of the Board of Trustees, the Church Treasurer, and three other members elected at large from the active membership of the congregation. Except as herein limited, the term of each member elected at large shall be three (3) years. Upon adoption of this resolution, the congregation shall elect members of the Committee: One for a term of three (3) years, one for a term of two (2) years, and one for a term of one (1) year. Thereafter, at each annual meeting, the congregation shall elect one member for a three (3) year term. No member shall serve more than two consecutive three (3) year terms. After a lapse of one (1) year, former Committee members may be re-elected. In the event of a vacancy on the Committee, the Church Council shall appoint a member to fill the vacancy until the next annual meeting of the congregation, at which time the congregation shall elect a member to fulfill the term of the vacancy.
The Committee shall meet at least quarterly, or more frequently as deemed by it in the best interest of the Fund. A quorum shall consist of three members. A majority present and voting shall carry any motion or resolution. The Committee shall report on a quarterly basis to the Board of Trustees. The Committee will create specific categories for distribution of income from endowment funds that are not restricted to specific purposes. The Senior Minister and the Moderator of the Church Council shall be advisory members of the Committee. In addition to these two individuals, the Committee may request other members of the congregation to serve as advisory members.
SALE OF NON-CASH GIFTS (STOCKS, LAND. ETC.) IMMEDIATELY VS. INDEFINITE HOLDING: It is preferred all certificates of stock, bonds, personal or real property, etc. accepted by the Committee as gifts to the Endowment Fund, be liquidated and proceeds deposited as close to the date of the gift as possible; however, the Committee reserves the right to evaluate each gift for its long-term investment value rather than immediate sale.
TRANSFER OF FUNDS FOR INVESTMENT PURPOSES: The principal of gifts, devises, and bequests received and accepted by The Endowment Fund, shall be transferred to the United Church of Christ Foundation or a local depository for investment and management purposes. At the direction of the Board of Trustees, all such funds shall be returned to the local Church for investment and management purposes.
DISTRIBUTION OF INCOME: The Committee shall determine what is principal; and income according to accepted accounting procedures. Income received from the Fund shall be distributed as follows: In accordance with the direction of the donor, or, if undesignated, according to the decision of the Board of Trustees on a year-to- year basis. No income received from the Fund shall be used to pay ongoing operating expenses (i.e. utilities, salaries, maintenance, etc.) unless designated or permitted by the donor. In order to maintain the value of the principal with regard to inflation, the Committee will determine appropriate procedures to maintain the value of the principal. As a minimum, an amount equal to 5% of the annual income shall be returned to the principal.
DISTRIBUTION OF PRINCIPAL: The principal of all gifts, devises, and bequests received and accepted by The Endowment Committee of First Congregational Church, shall remain untouched and shall not be withdrawn from Endowment Funds except as follows:
POWERS AND DUTIES OF THE ENDOWMENT AND FINANCIAL ADVISORY COMMITTEE: The Committee shall have the following powers and duties pertaining to the Endowment Fund:
FREEDOM TO EMPLOY COUNSEL: The Board of Trustees, at its discretion, is free to employ counsel in the management and investment of the Fund that may include but not be limited to legal advice, help of a Certified Public Accountant, or guidance from investment counsel.
DISPOSITION AND TRANSFER OF FUND: If, at any time, the First Congregational Church be lawfully merged or consolidated with any other church, all the provisions thereof in respect to the Endowment Fund shall be deemed to have been made in behalf of the merged or consolidated Church which shall be entitled to receive all the benefits of said Endowment Fund and shall be obligated to administer the same in all respects and in accordance with the terms thereof.
In the event of the dissolution of the First Congregational Church, the Rocky Mountain Conference of the United Church of Christ shall receive the benefits of said Endowment and shall be obligated to administer the same in all respect and in accordance with the terms thereof.
AMENDMENTS: The Church Council may amend this resolution by a majority vote of the full duly called Church Council according to the by-laws of the First Congregational Church.
ADOPTION: This resolution, recommended by the Board of Trustees, is hereby adopted.
First Congregational Church UCC
By
__________________________ ______________________________________________ Clerk Moderator
Dated this day, October 27, 2002.
MEMORIAL
FUND POLICY The primary purpose of the Memorial Fund policy is to establish a method for administering and allocating special designated and undesignated (also known as restricted and unrestricted), non-budgeted gifts to be used by and for The Church.
2. Designated. A Memorial Gift,
whether in the form of money or other property (real or personal), specifically
designated in writing by the donor(s) to be used or expended solely for a
particular purpose or purchase, shall be used and expended solely in accordance
with the specific designation, subject to the requirements above. If the gift is
to be administered over a period of time exceeding one year from the date of the
gift, The Committee shall approve, in writing, a plan of administration for the
gift. The plan shall include, without limitation, specifications as to the use
of principal and/or income. Designated Memorial gifts should be greater than
$100; however, gifts may be combined if the designation is on the list of
special needs and opportunities approved by the Trustees. Gift designation
should occur within three months of the donation. | |||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||||
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The Rev. Sharyl B.
Peterson, Ph.D., Senior Minister
