The First Parish membership met on Sunday, December 2, 2018 and voted to approve the Motion to create a financial plan for the church’s endowment. The plan was developed by our Treasurer, Sherman Zemler -Wu and recommended by the Finance Committee and Trustees. There was also a thoughtful discussion of how the endowment will be invested. The consensus was for an investment subgroup and Finance Committee to decide on specific investment instruments.
All of the proceeds ($ 1.6 million) from the sale of the Manse this summer are currently deposited into a high interest 6-month CD. This gave our First Parish congregation time to thoughtfully discuss options for the wise use of the proceeds. We held two Congregational Conversations during the fall to get more input from you. The approved plan establishes a separate fund that is subsidized from the growth of the larger endowment. This fund will be used to provide annual operating income for:
- Contingency for emergency facility needs.
- Support for future programs to grow the mission of the congregation.
- Plan for larger capital projects.
Financial stability is necessary to grow the impact of our spiritual and social justice mission. We need to be good stewards of our assets to support our mission today and for future generations. The endowment is a way to meet the spiritual needs of our congregation and increase the impact of our social justice mission. We should do both while maintaining intergenerational equity.
Thank you to our Clerk, Mary Elliff, Treasurer Sherman Zemler-Wu and our Meeting Moderator Jenn Cartee for their efforts in leading an informative and productive meeting.
Ardis Vaughan, Chair of the Board of Trustees