Page 25 - Final Annual Report 2020

The Chair of any committee may request use of any available funds by submitting a request in writing to our
committee. New funds may be established by donor request - please speak to Pastor John or any member of our
committee

As of November 30, 2020, we held the following in perpetuity – it cannot be spent. The interest, dividends, and
capital gains earned by these funds can be spent (see below):

$19,143.33 - in the Memorial Principal Fund. (Earnings are in the Candlelighter Fund)

$432,986.62 - in the General Endowment Fund – (Earnings are in the “buckets”)

$190,869.53 - in specified use funds as requested by the donor(s)

$642,999.48

At the same time, we held the following, which could be spent:

$77,767.43 in the Candlelighter Fund – interest, dividends, and capital gains earned by Memorial Fund. This
may be used for items related to the Worship Service and/or the Sanctuary.

$193,288.75 in the maintenance, plant and capital bucket – 50% of the interest, dividends, and capital gains
earned by the General Endowment.

$157,785.84 in the support of people and programs bucket – 45% of the interest, dividends, and capital gains
earned by the General Endowment.

$173,861.89 in interest, dividends, and capital gains earned by specified use funds (please see below) – this
is used for specific purposes as directed by the donor.

$602,703,91

In addition, the following is held in perpetuity, but could be spent if so voted by the congregation:

$ 131,444.77 - Received from bequests and trust distributions.
($100,000 will be taken from this for the proposed 2020 Vitality Fund, if so voted by the Congregation)

$ 183,127.63 - 5% of the interest, dividends, and capital gains earned by the General Endowment. This is
held in the Reserve for Future Growth “bucket.”

$314,572.40

Total: $1,560,275.79

Included in the M&E Policy is: “the purpose of this Memorial and Endowment Fund Policy . . . is to enhance the life
of Pilgrim Church apart from the general operation of the church.”

The “buckets” are determined by a vote of the congregation, to be reaffirmed at least once every four years. This was
last done in 2018.

See the 2020 program payments at the bottom of the Financial report.

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