Page 19 - Final Annual Report 2020

We continue to work with the M&E Treasurer, Mark Young, to ensure all cash transactions are properly accounted
for and that our consolidated financials are aligned. Additionally, Bart, Mark, Eric Burt and I discuss the big picture
topics such as investment risk, analysis, and prudent financial strategies.

To the best of my knowledge, with the information that has been presented to me, I believe that the financial
statements included in this report accurately reflect the financial position of Pilgrim Church – Sherborn at December
31, 2020 and the results of its operation for the year then ended.

FINANCIAL STATEMENTS
The year-end financial position of Pilgrim Church is shown on the Statement of Assets, Liabilities and Fund
Balances following this report. All receipts and disbursements flow through one of four operating funds:

Pilgrim Church Ministry Fund
Each fall the Finance Committee prepares a budget for the next year from committee and staff requests. Then the
Stewardship Committee runs a campaign to fund it. Pledges are used to budget salaries and fund Christian
Education, Sacred Arts, Congregational Ministries, building and other operating expenses. At the January Parish
Board meeting the budget is reviewed and then presented to the congregation for approval at the Annual Meeting in
February.

Missions Fund
This fund records all monetary donations that will be given to charitable entities, community-based programs or used
for charitable projects within the church. The Missions Committee strives to pass along donated funds as they are
received and maintain a minimal ending fund balance.

Property Maintenance Fund
This fund provides for long-term capital expenditures to maintain the church building and the parsonage.

Work Camp Fund
This fund supports the annual Senior High Work Camp mission trip in April. Receipts come from fundraising
projects, donations and fees from the work campers. At the end of the calendar year, this fund always has a balance
because fundraising for the next trip has begun. Fundraising and donations support the advisors who graciously
volunteer to travel with the group each year.

FINANCIAL POSITION:
Pilgrim Church relies solely on the generous support of its members and friends to sustain it. It relies heavily on
volunteerism to carry out its mission. At year end, Pilgrim Church ended the year in sound condition despite the
pandemic and reduced financial support and participation. Currently, there are strategy sessions being held to review
our structure and to ensure that we are aligned with reality and the current needs of the congregation.

Please feel free to contact the Finance office with any questions that you may have (finance@pilgrimsherborn.org or
508 655-1667 x23.) Detailed financial statements are available upon request from the church office.

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