Westminster Presbyterian Church 2016 Annual Report

Transcription

1 Westminster Presbyterian Church 2016 Annual Report 1250 W. Exchange Street Akron, Ohio

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3 Table of Contents 2016 Westminster Church Leadership 3 Message from the Pastor 4 Music at Westminster 5 Children and Family Ministry 6 Clerk of Session Report In Memoriam 8 Discipleship Committee 9 Outreach / Mission 10 Properties Committee 11 Memorial Garden Committee 12 Celtic Garden 12 Chancel Flowers 12 Monday Supper Club 13 Westminster Book Club 13 Westminster Presbyterian Women 14 Board of Deacons 15 Finance Committee 16 A Word about the Rowley Gift 18 Balance Sheet Analysis 19 Analysis of Revenues & Expenses Report of the Westminster Endowment Trust 21 Addendum Minutes of Congregational and Corporation Meeting Sunday, March 6, Minutes of the Special Congregational Meeting Sunday, December 11,

4 2016 Westminster Church Leadership The Reverend Jonathan S. Hauerwas, Pastor Clerk of Session Lucinda Weiss Treasurer Shelley Koutnik Assistant Treasurer Marcia Holcomb Elders Term Expiring 2016 Term Expiring 2017 Term Expiring 2018 Ginny Melver Harloe Cutler Ellen Daugherty Sharlene Santelli Mary Johnson Nancy Keogh Anne Karney Kyle Vuchak Sue Wallin Phil Fry Todd Willis Gert Wilms Deacons Term Expiring 2016 Term Expiring 2017 Cindy Beidler Lynn D Avello Bob Leonard Polly Davis Evie Martindale Sandy Gruneich Jim Shriner Dan Shaughnessy Dave Stobbs Susan Shellito Jamie Willis Marian Wahl Sophia Louise VanDerSchyf Margo Works Westminster Presbyterian Staff James Mismas, Director of Music/ Organist/Five at Five Artistic Director Sheila Svoboda, Director of Children and Family Ministry Germaine Wilson, Director of Communication Eileen Martinez, Staff Accountant Kayla Elefritz, Childcare Director Jeremiah Ward, Custodian 3

5 Message from the Pastor Dear Friends, 2016 was a very busy year for Westminster. This was my first full year as your pastor. We continued our work with the consulting firm, Ministry Architects, as we seek to grow and strengthen our ministry to those in grades We also wrapped up the consulting phase with our children and family ministries. I am proud to report that both of these ministries are growing in numbers. Our youth group has moved from the main level of the church to the second floor where they are enjoying a newly renovated space. The Tweens (grades 4-6) are now on the first level, and have expressed their appreciation for their new fellowship and learning classroom. The nursery has been updated (2017). Changes abound. In 2016, we updated numerous parts of our manual of operations. The newly formed Worship Committee began its work, and Session voted to form a new Membership Committee. The latter will be responsible for the photo directory, new member s classes and packets, nametags, visitor welcome, attendance, reaching out to missing members, and formulating a marketing strategy/publicity. Our Properties Committee continues to seek ways to cut costs in our expansive facility while serving the needs of our congregation and building users alike. Our Deacons and Outreach Committee are also hard at work, finding ways to encourage and support our members, the surrounding community, and the needs of this world by following the example of Jesus Christ. In 2016, we hired several new nursery attendants and new evening, Sunday, and special event custodians. As 2017 gets underway, the Personnel Committee and I are meeting with the staff to both give and receive feedback regarding the performance of all who are employed by our church. Financially, we ended 2016 in a much stronger position than expected. The Rowley principal applied to our deficit budget was $38,327.82, which was $78, less than the budget s projected $116, This is a very good sign in anticipation of Westminster s future fiscal wellness. Session also approved a plan for the short and long-term usage and investment of the Rowley fund. I would like to offer my profound appreciation to our staff and for all who have served our church in volunteer positions this past year. Your commitment to serving God in the context of this congregation is evident in countless ways. We have much for which to be thankful. Peace and best wishes, Jon 4

6 Music at Westminster Music has been a vital aspect of Westminster Church for decades and it continues to hold that place of importance now. Music gives us the opportunity to express ideas and feelings in a very powerful way, sometimes surpassing what we can communicate with words alone. It can lead the way as we seek to understand the divine mysteries of our faith. Deep gratitude to those who provide superb direction and leadership in our music program - Ronald Hazelett, Adult Bell Choir, Denise Milner Howell, Westminster Youth Chime Choir and Sam Olin-Hitt, Children s Choir. Each of these wonderful people is a fine musician who leads lovingly and with the highest expectations because we all believe that what we offer to our God should be our very best no matter what it is that we do. Finally, our extremely successful concert series, Five at Five, concerts of universal inspiration on Sunday afternoons at 5pm and presently in its 18th season, continues to draw great crowds and serves as a dynamic and exciting outreach into our community and well beyond. In da Vinci s words, Music is the shape and form of the invisible. And thrilling music is alive and well at Westminster Presbyterian Church! SOLI DEO GLORIA James Mismas, Director of Music/Organist, Artistic Director for Five at Five 5

7 Children and Family Ministry 2016 was a year of firming up, staying engaged and supporting sustainability for children and families here at Westminster Presbyterian Church. The Children s Ministry Renovation Team was formed when we contracted with consultants to help us build sustainable Children and Youth Ministries here. We spent 16 months working with Ministry Architects to build up our strengths and acknowledge our weaknesses. We love our annual parties, our Godly Play Sunday School and our parent support. We needed to build our Tween program and revitalize our Nursery, staff and procedures as well as space. We needed to work on the job description and title for the staff position. We are proud to say that we have met our goals and are ready to move forward without the consultants, but with a new name. No longer a renovation team, we are the Children and Family Ministry Team. The staff member, Sheila Svoboda chairs the team and with much gratitude has a continued team consisting of Erin and Kevin Spring, Walter Hayes, Margo Works and Char Molinaro. Sunday School meets Sunday mornings at 9:30 am for three age groups of children. We have a Bible Story Room for ages 3-preK, a Godly Play Room for K-3rd grade and a Tween class for children 4th-6th grade. Fifteen teachers are trained and dedicated to work with 39 children who are regularly attending. Our nursery continues to grow. We have 22 children who are regular or semi-regularly cared for by our three stable, caring and professional childcare staff headed by Kayla Elefritz. Our parents meet weekly in Library Conversations to discuss parenting trends and support one another. The families meet together regularly in church events, from picnics, to an annual Halloween Party and Advent Potluck and workshop. Our VBS, Under Construction, this year was staffed by 28 adult and teen volunteers with 48 children attending. We had a Parent Educator join us to talk about Raising Resilient Children. Again, our Christmas Pageant was lovingly and creatively told by our children and youth under the leadership of Sam Olin-Hitt and Denise Howell. This year was a very positive, engaging and supportive time for WPC Children and Family Ministries, much has been done and continues to be done! Early in 2017 look for our nursery renovation! Respectfully submitted by, Sheila Svoboda Director of Children and Family Ministry 6

8 Our Communion Table Easter Sunday Service, March 27, 2016 Christmas Basket Outreach 7

9 Clerk of Session Report 2016 Baptisms Adult 1 Children 11 Member Statistics Membership as of January 1, Gains Members Received 19 Losses Deletions 75 Letters of Transfer 0 Deaths 8 Membership as of December 31, In Memoriam Sara Sally York..... February 10, 2016 William Christie... March 17, 2016 John Bly April 19, 2016 Ila Pearson... May 28, 2016 Nancy Sue Wyle Jones.. June 2, 2016 James Spindler.... August 22, 2016 Jean Mercer... November 11, 2016 Thomas Fisher..... December 20,

10 Discipleship Committee In our Westminster community, we offer opportunities for all of our members/visitors to participate in programs and activities that help them strengthen their faith. COME! Each Sunday we welcomed members/visitors to worship God with us. In support of our families, we offered professional childcare each Sunday morning as well as at other congregational events and meetings. ENCOUNTER! Children, youth and adults encountered God through our many opportunities for Christian education: Sunday morning education hour offered a choice of two classes for adults, Godly Play for children ages three through grade 3, a Tween class for fourth through sixth graders and IGNITE 12:50 for students in grades Dedicated volunteers prepared engaging lessons for these classes. Twelve to fourteen members of the Eye Opener Bible Study met each Thursday morning for in depth Bible study. Active members of Presbyterian Women enjoyed monthly Bible Study. Members of Westminster and our community enjoyed a lecture series, entitled Real Creation and Real Science by Rev. George L. Murphy. Many children and helpers enjoyed UNDER CONSTRUCTION a Habitat for Humanity Curriculum during Vacation Bible School. The Prayer Quilt Ministry continued to provide quilts as an expression of Westminster s love for all who are in need of healing prayer. In 2016, the Ministry expanded to include quilts for infants who were baptized at WPC. In all, sixteen quilts were made with love, hung in Wright-Herberich Hall and tied with prayers for healing and for joy. The Children s Choir and the Hand Chime/Hand Bell Choir for fourth through eighth graders performed several times during morning worship. GROW! Presbyterian Pandemonium highlighted many opportunities for engaging in fellowship, service and mission at Westminster Presbyterian Church. Included in these are Dinner Groups, Presbyterian Women, Dinner Bridge, Westminster Choir, Hand Bells, Book Club, Celtic Gardeners, Sewing Circle, and Prayer Quilt Ministry. Additionally, members enjoyed the Mardi Gras dinner/dance, Memorial Day picnic, an evening at Blossom, Ice Cream Social with the Akron Big Band, and the Labor Day picnic at Hardesty Park. SERVE! We have members who served in many different ways. Some of these are Flower Arrangers, Befrienders (members who regularly visit homebound people), a Bereavement Group that prepared and hosted funeral receptions, and those who served on various church committees, volunteered in the office, helped with VBS, taught Sunday School, and helped serve communion. One of our most successful outreach programs was our Christmas Basket delivery in December in which many adults and youth/children assembled and delivered baskets. Forty-two families helped with our monthly Third Sunday Community Dinners. On the first Sunday of each month, we collected non-perishable food items as well as cash to support the Good Neighbors Food Pantry. 9

11 Youth Ministry In 2016, many volunteers from the congregation supported efforts to build youth ministry at WPC by chaperoning, driving, cooking meals, making flyers, writing articles, and organizing events. The Youth Ministry held twelve events in 2016 with an average attendance of eight youth. In May and September, teachers of the Youth S.S. (7-12) class, participated in a Christian Formation Retreat, led by consultants from Ministry Architects. Teachers sought to create an intentional plan for Christian education and formation for our youth. The result is a document that establishes five core competencies, with related topics and a six-year plan for implementation. Seven youth and three adults traveled to Ronceverte, WV to work in a Literacy project and to help residents recover from damages caused by recent flooding. The Youth Ministry has a new space in the former Temple room. Volunteers installed new carpet, which was donated by a generous church member. Our youth can watch the Smart TV, while sitting on new and comfortable furniture. Game tables include Foosball, Air Hockey, and Ping Pong. Thanks to the many volunteers who helped with this project. Discipleship Co-Moderators, Anne Karney Sharlene Santelli Outreach / Mission The Outreach Committee would like to thank all WPC participants who donated time, talent and treasure to our 2016 programs. Food For Life volunteers, in partnership with St. Bernard s, made sandwiches bimonthly for Akron s poor and homeless. Hope Totes, in partnership with Haven of Rest, provided two trunk loads of personal care items to needy and homeless men, women and children in our community. Third Sunday Dinner fed approximately 630 people in 2016 a delicious and nutritious meal. Christmas in July and the Christmas Basket program, in partnership with the Salvation Army, provided hundreds of families much needed perishable and non-perishable food items. Over 144 items were donated to Access Shelter with the Christmas Giving Tree. First Sunday Food Collection, in partnership with Good Neighbor, provided nonperishable food items to those in need. One Great Hour of Sharing, Peacemaking Offering, Two Cents for Hunger, and Pentecost collections were used by our Presbytery to fund local, national and international mission work. A portion of our Peacemaking Offering was donated locally to RAHAB Ministries to fund their work with juvenile victims of human trafficking. We continued to financially and spiritually support three missionary families Les and Cindy Morgan, Michael and Rachel Weller, Jeff and Christy Boyd. Thank you again for your support, Gert Wilms, Outreach Moderator 10

12 Properties Committee The responsibility of this committee is far-reaching. When you consider the building and grounds (including the parking lot across the street), it includes just about everything, inside and out. We oversee the maintenance, repair, new projects, rental contracts, service contracts and requests for building use. All members are dedicated and actively involved in accomplishing our goals. We meet monthly, in addition to frequent s, to keep all things up and running. We wish to thank Frank Field for almost 25 years of unwavering service on the committee. About half of the expenses are for utilities --- almost $40,000! We are aggressively working to reduce this amount. We are in the process of auditing electric, gas and water usage. There are signs in all rooms: turn lights off/ turn thermostat to 60. We are participating in weekly pickup with ReWorks, a Summit County single stream recycling program, at no cost to us. Ohio Living and WYDACA are also participating. We changed suppliers for most of the cleaning and paper products about six months ago. This has already saved us a considerable amount. It s not just the staff and the congregation that use products, we also provide for tenants. For example, we order about one case of toilet tissue (96 rolls) a month. The Building Use Policy was adopted last spring. The purpose is to provide regulations and standard procedures for all. We approve requests for both outside and inside groups. Outside groups that get our approval then go to Session for approval. The last flat roof (area above the CE doors) was replaced, completing four roof replacements in the past three years. The two slate roofs get yearly maintenance and repair. Thank you all for your support. Special thanks go to anonymous donors and existing funds that make much of our work possible. Comments and questions are always encouraged, appreciated and welcomed. Ginny Melver, Moderator Properties Committee February

13 Memorial Garden Committee In June 2016, the Memorial Garden Committee was created as a sub-committee of Properties. The committee members have been busy reviewing the work of the original Memorial Garden Task Force. The goal is to develop a regular maintenance plan for the garden and keep the congregation informed about interment opportunities. The members of the committee are Phil Fry, Kara Hauerwas, Marcia Holcomb, Shelley Koutnik, Earl Pierson, Barb Shriner and Jim Shriner. Celtic Garden The Celtic Garden has a very devoted group of gardeners that work from the end of March to the first of November. This year we had a very successful perennial sale the first of May. Perennials were dug from the garden as well as from the gardens of Celtic gardeners and friends. The monies from this sale are used for new plants and gardening supplies. We are very thankful for the funds that a benefactor gave to the garden. We used some of these funds to replace the old wooden arbor of 25 years with a new vinyl arbor. We appreciate all the kind words from members and hope all take time to walk through the garden often and enjoy its beauty. We always welcome new gardeners. Anna Marie Wilton Chancel Flowers Each week the Chancel Flowers are arranged from the Celtic Garden or from a wholesale source. The arrangers also do the arranging on Palm Sunday, Easter and Christmas. Members and friends always give generously for all the arrangements. The arrangers also provide flowers for the Third Sunday dinners, memorial receptions and church luncheons. Our dedicated arrangers are: Kyra Bosnik, Kris Keller, Sook Lee, Inky Malone, Raphael Peoples and Kristy Yates. Anna Marie Wilton 12

14 Monday Supper Club The Monday Supper Club is a group of mostly 50+ age adults that met for Christian fellowship, a potluck supper and a program. Our programs for 2016 included: January March April Business meeting Mark Price, Historical writer for the Akron Beacon Journal Roger Nelson, Lighthouses For a number of reasons, the members decided to disband the Monday Supper Club effective with the April 2016 meeting. Over the many years the club was in existence, many of the members served numerous times in leadership roles, president, secretary, treasurer, and as team leaders for dinner setup. While too numerous to mention names, I would like to thank all of you, who over the years made the club a success. Following is our income and expenses for the year. $ Beginning Balance $ Total Income (Listed Below) $ Total Expenses (Listed Below) $ Ending Balance Income $ Donations & Regular Meeting Charge $ Total Income Expenses $ Chancel Flowers $ Youth Trip $ Christmas Baskets $ Christmas in June $ cents for hunger $ Total Expenses Westminster Book Club Westminster's Book discussion group is made up of church and community members and meets the second Monday of the month, twelve months a year. The group meets from 7:00 p.m. to 8:30 p.m. in the church library. Some members chose to lead the informal discussion but it is not a requirement. All are welcome. In 2016 (our 15th full year!) we enjoyed a variety of books, ranging from geology (Eruption), history (Dead Wake) and genetics (The Gene) to historical fiction (A Wilder Rose, Orphan Train), fantasy (The Lion, the Witch and the Wardrobe), sci-fi (The Martian), and mystery (The Monogram Murders, Girl on the Train). Cathy Melver 13

15 Westminster Presbyterian Women Presbyterian Women of WPC had a busy year. We had four Gatherings. At each of these events we collected a good will offering of money and/or items for the mission. 1. March 5, 2016, brunch, mission for Battered Women s Shelter 2. April 30, 2016, lunch, mission for Good Neighbors 3. October 8, 2016, lunch and tour of Rockynol s new facilities, mission for Rockynol Life Care 4. December 3, 2016, Christmas Tea, mission for WYDACA We have five bible study circles that meet monthly, September through May: 1. Discussion Circle, first Tuesdays at 10 am 2. Martha Circle, resting this year 3. Metanoia Circle, fourth Thursdays at 1 pm 4. Evening Circle, third Mondays at 7 pm 5. Mary Circle, resting this year PW supports a Sewing Group as a mission project. They make protective garments for adults at Rockynol and baby bibs for needy moms. We actively participated in the Spring Bazaar at Rockynol on April 15th, raising money for Rockynol projects. Childcare is always available at the church during Gatherings and circle meetings. Thanks to generous donations to our Annual Fund Drive, we have been able to support many missions, including Eastminster PW, missionaries, local and community programs. We were able to buy a new commercial sewing machine for Not Wasted. WPW Finances: Total Receipts $6, Disbursements $6, Ginny Melver, Moderator WPW Officers : Ginny Melver, Moderator Shelley Koutnik, Vice-Moderator Cathy Melver, Recording Secretary Joan Buehl, Corresponding Secretary Andi Jopperi, Treasurer Kristy Yates, Assistant Treasurer Kathryn Vuchak, Coordinator of Studies Harriet Cutler, Coordinator of Involvement Mary Lou Griffiths, Historian 14

16 Board of Deacons 2016 was an action-packed year for the WPC Board of Deacons. It started with a very meaningful and rewarding Saturday morning retreat in February. After that, everyone went to work on the agenda for the year. All 14 board members were involved in organizing the many events sponsored by the board, assisting with events sponsored by other church groups, involved in worship service duties like ushering and coordinating/serving communion or holding a board office. Sunday fellowship events sponsored by the Deacons were Valentine Day, Easter, Mother s Day, Memorial Day, Father s Day, youth cookies and Christmas Day. The board also coordinated the monthly first Sunday birthday celebrations and wishes to thank all WPC members that donated the beautiful cakes. Church wide events sponsored by the Discipleship Committee with Deacon assistance were the Mardi Gras party, ice cream social and Labor Day picnic. A special thank you goes to resting Deacon Raphael Peoples for coordinating the food preparation for many of these events. Another thank you goes to Deacon Polly Davis and her husband Ralph who hosted a relaxing July Deacon social gathering at their home. Jim Shriner 2016 Board of Deacons Cindy Beidler Bob Leonard Evie Martindale Jim Shriner Dave Stobbs Jamie Willis Sophia Louise VanDerSchyf Lynn D Avello Polly Davis Sandy Gruneich Dan Shaughnessy Susan Shellito Marian Wahl Margo Works 15

17 Finance Committee A primary goal of the Finance Committee for 2016 was to communicate the church s financial status to the congregation on a regular basis. To accomplish this goal, a summary of total revenues and expenses (actual and budget) is published in the Bulletin the third Sunday of every month and in the bi-monthly Script. Quarterly giving statements are distributed via and are mailed upon request. Detailed monthly financial reports are always available from the Finance Office. Our staff accountant, Eileen Martinez, is happy to provide you with any financial information. Committee Moderators assumed more responsibility for their committee expenditures and budgets in Every month each Committee Moderator receives a detailed report of their committee s spending and budget. The Moderators are to be commended for recognizing the financial constraints and curbing 2016 spending. This helped reduce dependence on the Rowley Gift to cover operating expenses. For 2017, each Committee committed to a 5% budget reduction in an attempt to keep operating expenses within the estimated revenue stream. Still, without additional income and conservative spending, approximately $63,000 of Rowley funds may be needed to cover 2017 operations. Another major task of the Finance Committee was the review of the church investment accounts for designated, restricted, distributed endowment funds and the Rowley gift. In early 2015, approximately $1,425,000 was invested in a managed account at Wells Fargo Advisors. Another $930,000 was invested in a non-managed account. In January 2016, the Finance Committee reviewed the yield and fees related to the accounts and requested that Session review the management and use of the Rowley gift. Finance Committee members receive a monthly Statement of Financial Position, Investment Portfolio Summary and an Investment Recap Report (investment earnings, fees, realized gains and losses). A discussion of Session approved investment decisions is included at the end of the Finance Committee 2016 Report. The end of 2015 also presented the need for updated office technology equipment when the oldest office computer could no longer receive the accounting and membership software updates. The Technology Task Force with representatives from Properties and Finance Committees was formed to work with staff determining computer needs and seeking bids for a new system. In April 2016, six new computers and related equipment were installed in the staff offices and library. Another part of this project was the addition of a monitor in the Pastor s Study for use by Committees, Session and other groups and the replacement of Wi-Fi in Wright Herberich Hall and the Christian Education Building. To keep the system updated and provide technology support, Westminster contracts with DataCore to provide constant monitoring and maintenance. In July 2016, ongoing maintenance calls for repairs to the network printer/copier made it apparent that this equipment would soon need to be replaced. The Sharp copier/printer was acquired as pre-owned equipment in July Bids were obtained from four different companies and a brand new Konica Minolta was installed November 30 at a lower monthly cost than the previous lease. Thank you to Germaine Wilson for her assistance visiting the vendors and testing various copiers to be sure they met our needs. 16

18 The Finance Office relies on volunteers to count the collection every Monday morning and to assist with thank you letters, memorial acknowledgements, attendance tracking, preparing invoices and various other office tasks. Thanks to our Monday Morning Counters, Bob Leonard, Chuck Lebold, Marc Messaros and Don Rearick and to our Office Volunteers, Ellen Daugherty and Kyra Bosnik. Stewardship The 2017 Annual Stewardship Campaign was the responsibility of the Finance Committee during Graphs and a Checkbook Register were used to present the financial resources and needs of Westminster. Thank you to the Committee Moderators, Project Leaders and all in our Congregation who contributed fun facts and testimonials for the campaign. The goal for 2017 was $425,000. One hundred seven members and friends pledged $328,190 towards 2017 operations. Thank you for your generous gifts which support Westminster and its ministries. The Finance Committee Members Todd Willis, Moderator Jeff Bornstine Larry Hawkins Marcia Holcomb, Assistant Treasurer Shelley Koutnik, Treasurer Alec Works Tom Koutnik, Endowment Trust Representative Many thanks to Larry Hawkins for his dedicated service and leadership to the Finance Committee. Larry is retiring from the committee to pursue other interests and warmer winters. We will miss his historical perspective on budgeting, stewardship and all things finance related. 17

19 A Word about the Rowley Gift In early 2014, Westminster Presbyterian Church received a very generous, unrestricted gift from two Trusts established by W.A. Rowley. The total of the trusts was approximately $2,280,700. During 2014 and 2015, $60,732 was expended on various one-time projects such as Ministry Architects, Christmas in July and Pastoral Search expenses. An additional $32,688 was used to cover 2015 operations. The balance of the Rowley Fund at December 31, 2015 was $2,187,280. The 2016 Operating Budget included the use of Rowley Fund principal to balance the budget. An allocation of $116,433 would be needed to cover the planned operating expenses. If current budgeting strategies prevailed, the Rowley Funds would be eventually expended just to maintain operations. While Session had discussed the long-term investment and planned uses of the Rowley Gift, no definitive plan had been approved. In May, the Finance Committee asked Session to define their goals for the Rowley Fund. There had been no plan for long-term, mid-term and short-term needs or investment strategies. At a regular meeting of Session convened on July 18, 2016, Session approved the following plan for the remaining Rowley Funds: Total Funds Short-term Less than 5 years Mid-term 5 to 10 years Long-term More than 10 years Operating Expenses $750,000 $500,000 $250,000 $0 New Church Life Projects $250,000 $250,000 $0 $0 Designated Capital Funds $320,000 $150,000 $170,000 $0 Designated Endowment Fund $680,000 $0 $0 $680,000 Total $2,000,000 $900,000 $420,000 $680,000 In September, Session authorized a small committee to research and evaluate the current investment portfolios and to buy/sell and/or retain securities as deemed appropriate with the final result of reinvestment according to the approved plan shown above. The restructuring of all of the investments was completed in November. At December 31, 2016, Rowley funds in the amount of $1,404, are invested with other church funds and $680,000 is invested with the Endowment Trust as a designated endowment fund. The church anticipates receiving an annual distribution in the amount of $13,000 from the Rowley Designated Endowment fund as well as interest and dividends from the short-term and mid-term investments remaining in the church investment accounts. 18

20 Westminster Presbyterian Church Balance Sheet Analysis Comparison at December 31, 2016, 2015 and /31/16 12/31/15 12/31/14 Assets Checking Account 99, , , Investment Accounts ** 1,611, ,357, ,509, Mortgage Receivable 48, , Total Assets 1,759, ,469, ,529, Liabilities, Fund Principal, & Restricted Funds Unrestricted Funds 52, , , Designated Funds 143, , , Temporarily Restricted Funds 132, , , Restricted Endowment Distributions 26, , , Rowley Gift Fund ** 1,404, ,187, ,277, Total Liabilities, Fund Principal, & Restricted Funds 1,759, ,469, ,529, ** During 2016, $680,000 of the Rowley Gift Fund was transferred to the Endowment Fund to create the Rowley Designated Endowment Fund Unaudited Statements for Internal Management Use Only Westminster Presbyterian Church Balance Sheet Analysis 19

21 Westminster Presbyterian Church Analysis of Revenues & Expenses Comparison of the years ending December 31, 2016, 2015 and Actual 2015 Actual 2014 Actual Revenues: Contributions 381, , , Endowment Distributions 67, , , Interest and Dividend Income 33, , , Discipleship Ministry 4, , , Office and Administration Income 2, Outreach Ministry 21, , , Personnel Committee 20, , , Properties/Building Use 17, , , Worship Committee 6, , , Deacons Programs & Ministry 2, , Total Income 557, , , Expenses: Investment Expenses 12, , Discipleship Ministry 11, , , Office and Administration Expenses 44, , , Outreach Ministry 40, , , Personnel Expenses 375, , , Properties/Utilities and Maintenance 97, , , Worship Committee 8, , , Deacons Programs & Ministry 3, , , Total Expenses 595, , , Rowley Gift used to support operations , Rowley Gift used to support operations , Reserve Funds used to support operations , Please contact the Finance Office if you would like a copy of the detailed financial report for 2016 Unaudited Statements for Internal Management Use Only 20

22 2016 Report of the Westminster Endowment Trust The Westminster Endowment Trust receives contributions for the support in perpetuity of Westminster Presbyterian Church (WPC). These funds are invested and the investment income is used to support programs of our church. The Endowment Trust, except for the Telford Fund, is centralized in one master account to simplify accounting and to enable each of the named funds to earn the same rate of return. Each named fund represents a percentage of the total account and is allocated investment income based upon that percentage. The market value of the Endowment Trust was $ 3,800,068 at the end of This includes capital gains and losses, dividends, interest, transfers and contributions and is net of distributions to WPC. The Endowment Trust provided $ 89,151 of support to WPC operations in The Westminster Endowment Trust holds both unrestricted and donor restricted funds. The Unrestricted Funds, used to support WPC operations, are: The Westminster Endowment Fund, which includes the Westminster Fund, C. Smith and Frances H. Bateson Endowment Fund, Lois Randall Goldthorpe Memorial Fund, Reinherr Fund and Rowley Designated Endowment Fund. The William B. and Delphine C. Telford Endowment Fund The Donor Restricted Funds, used to support specific projects and programming, are: Joyce Wortman Barnett for the physical maintenance of WPC Brideweser Music Endowment Fund for the enrichment of musical programming The Mary S. and David C. Corbin Endowment Trust Fund for special projects as selected by Session Doris S. Corns Endowment for organ maintenance Leone & Franklyn Dickinson Fund budgeted for the upkeep of church property Harry W. Eberts, Jr. Endowment Fund for Teaching and Preaching for expenses of and stipends for guest preachers and speakers Margaret Enyart Endowment Fund to further the music enrichment program at WPC John R. and Neva I. Humphreys Endowment Trust budgeted for WPC operations Russell & Vivienne Johnstone Endowment to support organizations dedicated to serving the needs of Akron area poor The Vivienne Johnstone Endowment For Habitat For Humanity to support the Summit County affiliate Kaye Lebold Memorial to be used at worship committee discretion The Thomas Reef Flower for altar flowers in memory of Thomas H. Reef The Schooley Fund to Support The Bell Choir for support of the Westminster Bell Choir The James Henry Seiberling Endowment for Music for enrichment of musical programming Blanche Shaw Flower Garden to buy plantings for the Celtic Garden 21

23 Phyllis Spaethe Scholarship for need-based undergraduate scholarships for WPC members World Hunger Endowment Fund Established by James and Rosemary Spindler to support organizations dedicated to reducing world hunger The Robert W. & Anita L. Young Endowment Fund for youth programming We encourage members and friends of Westminster Presbyterian Church to contribute to the future of our church by donating to the Westminster Endowment Trust. The Endowment welcomes gifts of cash, real estate, insurance policies, bonds, stocks, and other forms of securities. If you have any questions or would like additional information, please contact an Endowment Trustee Contributors to the Endowment Trust Jo Anne Barnes James W. Barnett Cynthia Bishop Sally Bowman Jean Colley Harloe & Harriet Cutler Ellen Daugherty Thomas & Judith DiNardo Frank & Eileen Field Joe & Sue Henninger Gregg & Betty Howorth Eleanor Humphrey Thomas & Marcia Laubacher Peter & Dorothy Lepp Lincoln Family Trust Eleanor O Brien J. Mike O Brien Patrick O Brien & Dawn Meyer Thomas O Brien Barbara Schenck Charlotte Staiger Marjorie Thiell Rachael Louise Wanca Shirley Werner The WPC Endowment Trustees sincerely thank Marcia Holcomb for her continuing service in sending thank you acknowledgements to contributors Financial Report of the Westminster Endowment Trust Net Portfolio Value: December 31, 2015 $2,889,362 Rowley Designated Fund $ 680,000 Net gain (loss) in 2016 $ 230,706 December 31, 2016 $3,800,068 Basis for Contributions: December 31, 2015 $1,892,223 Rowley Designated Fund $ 680, Contributions $ 2,560 December 31, 2016 $2,574,783 Distribution to Westminster Presbyterian Church in: 2012 $ 77, $ 79, $ 84, $ 87, $ 89,151 22

24 Comments The most significant happening in the Westminster Endowment Trust in 2016 was the funding of the Session created Rowley Designated Endowment Fund. The $ 680,000 initial funding of this designated fund allowed total Endowment assets to end 2016 just shy of four million dollars. The United States economy continued its progression throughout Oil prices recovered further, gasoline and natural gas prices remained low benefiting consumers, there was job creation, wage growth, low unemployment and a minimal rise in interest rates. The stock market made us pause early in the year when both the S & P 500 index (S & P) and the Dow Jones Industrial index (Dow) declined 11.4% and 10.1% respectively from yearend 2015 to mid-february The worry du jour then was the Chinese economy. February was the market low for 2016 and, coincidently, it has been in two of the three years prior to By the end of 2016, the S & P and the Dow were flirting with all-time highs. The S & P increased 9.5% in value during The Dow increased 13.4% in value during Including dividends, the S & P was up 12.0% and the Dow was up 16.3% for the year. So, what about the Westminster Endowment Trust? Remember that the above-mentioned indices are 100% equity (stock). Our fund according to Session adopted investment policy should be invested 50 to 75% in equities and 50 to 25% in fixed income investments. This results in a balanced and less volatile approach than a 100% equity portfolio. During 2016 the Endowment portfolio averaged 71.0% equities and 29.0% fixed income. Our blended portfolio returned 10.3% for Our fixed income allocation still was challenged by relatively low reinvestment rates during the year. However, post-election, interest rates have increased by approximately one-half percent in expectation of changing Federal fiscal policies. One future risk is if rates increase too far or to fast so that economic activity and equity valuations are diminished. The past year resulted in reasonable, not risk-free performance. Our annual support to WPC will grow in 2017 because of the creation of the Rowley Designated Endowment Fund and dividend growth of our equity allocation. Continuing with the reality that there is always something to monitor, what is on the radar for 2017? No shortage: Will the many promises made during the electoral process move toward implementation, will The Netherlands, France and Germany vote to leave the European Union, will protectionism become vogue, will corporate earnings sufficiently increase to support current and future equity valuations, will inflation reboot and? 2017 has the makings of an interesting year. 23

25 2016 Endowment Trustees Bill Bramley John Childs Ralph Davis Ben Hoffman Tom Koutnik Rae Leonard Jerry Young The WPC Endowment Trustees gratefully thank John Childs for his six years of service which ended as of the end of Art Schooley was newly elected to a three-year term as a trustee commencing in

26 Addendum WESTMINSTER PRESBYTERIAN CHURCH Akron, Ohio Minutes of Congregational and Corporation Meeting Sunday, March 6, 2016 The Congregational and Corporate Meeting of Westminster Presbyterian Church was called to order by Moderator the Reverend Jonathan Hauerwas at 11:30 a.m. in the Sanctuary, immediately following worship. The Clerk of Session declared that a quorum of the members of Westminster Presbyterian Church was present. Also present: The Reverend Jonathan Hauerwas, Pastor Lucinda ( Cindy ) Weiss, Clerk of Session Pastor Hauerwas opened the meeting with prayer. He stated the purpose of the meeting was to receive the annual reports of committees and program groups in the 2015 Annual Report document, to review and receive the 2015 financial report and the 2016 Budget, and to consider any other business pertaining to the life of the church. Copies of all documents were made available by hard-copy handouts distributed during the meeting. Questions from the congregation were taken and answered. Motion prevailed to receive the 2015 Annual Report. The 2015 Financial Report & 2016 Budget After a Motion to Call the Question prevailed, a Motion prevailed to receive the 2015 Financial Report and the 2016 Budget. Other Business A Motion prevailed to express the congregation s appreciation of all who serve in leadership of Westminster Presbyterian Church. A Motion to adjourn the meeting prevailed. The meeting was adjourned with prayer by Pastor Hauerwas at 11:50 a.m. Respectfully submitted, Lucinda Weiss, Clerk of Session The Reverend Jon Hauerwas, Moderator 25

27 WESTMINSTER PRESBYTERIAN CHURCH Akron, Ohio Minutes of the Special Congregational Meeting Sunday, December 11, 2016 The Special Congregational Meeting of Westminster Presbyterian Church, duly called by the Session, was called to order by Moderator the Reverend Jon Hauerwas at 11:28 a.m. in the Sanctuary, immediately following worship. ALSO PRESENT: The Reverend Jon Hauerwas, Pastor, Moderator and Lucinda Weiss, Clerk of Session. Pastor Hauerwas opened the meeting with prayer. He stated that the two purposes of the meeting were to elect new Officers of Westminster Presbyterian Church presented by the Churchwide Nominating Committee, and to vote upon two amendments to the church s Code of Regulations endorsed by the Session. The presence of a quorum of Westminster s members was declared present by the Clerk (94 members attending). The Clerk introduced Todd Willis and Ed Labbe serving as counters of the congregation members present and the votes on the Code of Regulations amendments because passage requires a 2/3 vote of members present. ELECTION OF OFFICERS The Moderator called upon Elder Ginny Melver of the Nominating Committee to present the slate of officers and introduce them to the congregation: For Elders: Harriet Chapman, Ed Labbe, Alec Works and James Gray For Deacons: Phil Fry, RaeAnn Hall, Walter Hayes, Betsy Melick, Becky Harlow, Jamie Willis and Evie Martindale For Endowment Trustees: Art Schooley, Ralph Davis and Tom Koutnik For Churchwide Nominating Committee: Allison Breaux, Kathryn Vuchak, Barb Shriner, Kristy Yates and Bruce Stebner The Moderator explained that as the Slate was presented by a Committee, no second was needed, then called for any nominations from the floor. Hearing none, he invited a Motion to elect the slate by unanimous ballot, and upon that Motion duly made and seconded, the voice vote was taken and the slate unanimously elected. AMENDMENTS TO CODE OF REGULATIONS The Moderator then presented the process for considering and voting on the two proposed amendments separately. The Amendments had been duly sponsored by Elders Ellen Daugherty, Phil Fry, Anne Karney, Nancy Keogh, Ginny Melver, Sharlene Santelli, Kyle Vuchak, Sue Wallin, Todd Willis, and Gert Wilms. 26

28 Amendment 1: To amend Article III, Section 2 to read: The Annual Meeting of the Congregation and of the church as a corporation shall be not later than April 6th of each year on a date determined by the Session. The Moderator called for a Motion and Second for the Amendment, which were duly made, then opened the floor for discussion. Upon a call for the question, the vote was taken by show of hands. The motion was passed unanimously. Amendment 2: To amend Article IX, Section 1 to read: The election of various officers shall be held during the month of November or December of each year at a meeting of the congregation duly called by the Session for such a purpose. The Moderator called for a Motion and Second for the Amendment, which were duly made, then opened the floor for discussion. Hearing no questions, the vote was taken by show of hands, and the motion was passed with only one Nay vote. Upon motion duly made and seconded, the Special Congregational Meeting was adjourned at 11:47 and closed with prayer by Pastor Jon. Respectfully submitted, Lucinda Weiss, Clerk of Session The Reverend Jon Hauerwas, Moderator 27