St. Ann’s 2017 Annual Meeting – 11/12/2017
Rector Tim Lewis opened the meeting by calling for the report from the Nominating Committee – members were Carole Beinecke, Andy Steffan and Rich Mohlere.
Nominating Committee Report
Carole reported that the three members of the Vestry whose terms expire at the end of 2017 – Alex Coulter, Ed Deyermond and Nicole LaBarbera Kelley – had all agreed to stand for re-election. The Rector asked for nominations from the floor; receiving none, he asked for and received a second for the candidates proposed by the Committee. He then asked for the vote of those present and qualified. The three candidates were elected unanimously – Alex and Ed for second three-year terms and Nicole for her first full term (she is currently serving the remaining two years of Jen Pike’s term).
Carole then gave the Wardens’ Report:
- The Rectory Project was a great success thanks to the leadership of Crosby Renwick and Lynda Bradley.
- Andy Steffan was cited for his long service as a member of the Vestry and as a Warden and his current service as the Treasurer.
- Carole showed the attendees the new St. Ann’s Christmas ornament. These one of a kind gold ornaments, displaying the church picture and name, will be sold during Coffee Hour each Sunday and at the church office from 9AM to 2PM.
- A new Landscape Committee has been appointed; members include Joanne Gouge, Jen Pike, Lynda Bradley, Anne Curtin and Tim Lewis. Abby Fleming will continue to manage the Memorial Garden and the potted plants and to organize holiday decorations.
- The summer barbecue was a great success (hats off to Terry Fiore). The mid-Lent feast on March 25th and a new event, the Harvest Dinner on November 4th , were also enjoyed by all.
- St. Ann’s has a new sign in the lawn in front of the Church. Keith Reinhard contributed it, and Jen Pike sanded and painted the support poles.
- The Church and the Rectory were part of the Bridgehampton Historic Buildings Open House in June.
- Carole noted that we are still in a search for a Sunday School teacher.
Andy Steffan gave the Financial Report. (See below.)
Terry Fiore reported on the work of the Outreach Committee. He focused on the presentation of “Joy to the World” on December 8th, 9th, and 10th, urging all present to volunteer their services and to take and sell ads for the program.
Hospitality Committee - Christina Stromski noted that Anne Hansen had become co-head of the Committee a year ago, replacing Arlene Husband who retired after many years of service. She thanked those who volunteer for Sunday coffee hour service, pointing out that St. Ann’s is “known for hospitality”. She asked whether she should continue to dress in costume for appropriate holidays and received a unanimous favorable vote. Chris and Tim said that they count on parishioners to let them know of situations where Pastoral Care is needed.
On behalf of the choir, Bruce Brougham commented that Janet does an excellent job with the Music/Choir Program.
Tim thanked the Altar Guild team – Adelin Bakke, Joanne Gouge, Jen Pike, and Toni Vreeland - and added that that volunteers would be most welcome.
Remembering Those Departed
Tim noted in his Rector's Report before the meeting that this summer we had the first interment of ashes in our Memorial Garden. A brief ceremony (it was actually a re-burial of someone who died 30 years ago), but it marked a change in the way we now perceive that area of the churchyard. No longer is it simply a garden with a serpentine wall. It now contains human remains, and is therefore hallowed.
Jack Hagstrom has asked that we establish a fund to which parishioners could contribute in honor of deceased family members or friends. He has done so for Shirley Garrett and Marian Pryce, sisters and long time friends from the 8:00 service who died a year ago.
Financial Report to the 2017 Annual Meeting of St. Ann’s Episcopal Church
The Rectory project has had a major impact on our financial results for the past two years. The project cost was almost $550,000 and construction took form mid-2016 to mid-2017.
Parishioners have made direct gifts to fund the project of over $150,000, including a $50,000 bequest from the estate of Alexandra Leigh-Hunt. Parishioner also made pledges totaling almost the same amount, to be paid over the next 4 years.
In addition, approximately $400,000 has been drawn from the Endowment to fund the project, 40% of which will be returned to the Endowment as pledges are paid.
Operating expenses are about $415,000 annually, plus our Diocesan contribution of almost $40,000. Annual pledge payments and other offerings total about $250,000 and fund about 55% of the Church operating expenses. The resulting deficit is covered by drawing funds from the Endowment. A total of about $400,000 has been drawn from the Endowment to support Church operations for 2016 and 2017.
St. Ann’s Endowment
The Endowment was about $3MM at the end of 2015 and was just under $2.8MM on last Friday. This means that positive investment returns have offset $600,000 of the $800,000 drawn from the Endowment over the past two years. The equity markets have been very strong during this period; the S&P index was up 12% for 2016 and is up almost 14% this year to date. Our Endowment is about 75% in equities and was up 9% in 2016 and is up 12% so far this year.
You will soon receive our annual Stewardship letter and we are counting on your continued generous support of St. Ann’s. While we expect Rectory pledge payments of about $25,000 a year for the next three years, we will need pledges and other offerings to continue at the current level or grow a bit in order to bring our Endowment draw down to a conservative level of 5-6% from 7.5% this year.