Page 26 - Final Annual Report 2020

PILGRIM CHURCH
MEMORIAL AND ENDOWMENT FUNDS INT, DIV,
FINANCIAL SUMMARY BALANCE GAINS & PLEDGES & PROGRAM BALANCE
1/1/20 (LOSSES) DONATIONS PAYMENTS 11/30/20
DONOR RESTRICTED ENDOWMENT FUNDS (1):
General Endowment $ 432,986.62 $ - $ 432,986.62
The Rev. Kenneth D. Powell for the Creative Word $ 53,300.66 $ 53,300.66
Winnie and Charlie Williams Endowment $ 54,633.28 $ 54,633.28
Gordon Morrison for Landscape, Grounds and Gardens $ 25,735.59 $ 25,735.59
Bobbie Morrison for Youth Ministries $ 25,100.00 $ 25,100.00
Marguerite S. Iverson for Christian Education $ 10,000.00 $ 10,000.00
Memorial Garden Perpetual Care $ 6,775.00 $ 6,775.00
Carol W. Leitch Memorial Garden Trust $ 4,000.00 $ 4,000.00
Dr. Willis N. Pitts, Jr. Memorial Scholarship $ 5,130.00 $ 5,130.00
David and Ruth Johnson Bible $ 6,195.00 $ 6,195.00
DONOR SPECIFIED USE FUNDS (2):
Edward H. and Gladys Y. Barry Music $ 57,308.33 $ 4,732.62 $ 62,040.95
Lillian Waters Service Projects $ 9,343.44 $ 771.60 $ 10,115.04
Cornerstone Forum $ 5,571.78 $ 460.13 $ - $ 6,031.91
Pilgrim Church Service Scholarships $ 4,919.56 $ 406.27 $ 560.00 $ 1,500.00 $ 4,385.83
Dorothy M. Quinn Service Scholarship $ - $ - $ 1,000.00 $ 1,000.00 $ -
Memorial Garden $ 780.05 $ 623.91 $ 500.00 $ 903.96
Powell Creative Word - Plimoth Plantation $ 23,261.00 $ 6,322.59 $ 1,194.00 $ 28,389.59
Morrison Youth Ministries $ 12,953.63 $ 3,142.53 $ - $ 16,096.16
Iverson Christian Education $ 9,887.58 $ 1,642.35 $ 11,529.93
Leitch Memorial Garden Trust $ 560.74 $ 376.63 $ - $ 937.37
Pitts Memorial Scholarship $ 11,140.16 $ 1,343.62 $ 12,483.78
Johnson Bible $ 1,455.79 $ 631.81 $ - $ 2,087.60
Morrison Landscape, Grounds and Gardens $ 3,631.58 $ 2,425.19 $ 6,056.77
Williams Endowment $ 7,658.82 $ 5,144.18 $ 12,803.00
CONGREGATION DESIGNATED FUNDS:
Bequests and Trust Distributions Received (3) $ 131,444.77 $ 131,444.77
Memorial Principal (1) $ 19,143.33 $ 19,143.33
Candlelighter (2) $ 66,878.60 $ 7,103.83 $ 3,785.00 $ - $ 77,767.43
Maintenance, Plant and Capital - 50% (2) $ 157,016.25 $ 36,272.50 $ 193,288.75
Support of People and Programs - 45% (2) $ 138,694.87 $ 32,428.91 $ 13,337.94 $ 157,785.84
Reserve for Future Growth - 5% (3) $ 167,005.46 $ 16,122.17 $ - $ - $ 183,127.63
TOTAL MEMORIAL AND ENDOWMENT FUNDS $ 1,452,511.89 $ 119,950.84 $ 5,345.00 $ 17,531.94 $ 1,560,275.79
ASSETS CONSIST OF:
Cash and Equivalents $ 326,695.31 $ 367,925.61
Corporate Notes and CDs at Amortized Cost $ 257,743.08 $ 147,961.57
Bond Funds and Preferred Stocks at Market Value $ 64,114.87 $ 64,712.98
Equity Mutual Funds and Exchange Traded Funds at Market Value $ 803,958.63 $ 979,675.63
TOTAL ASSETS $ 1,452,511.89 $ 1,560,275.79

PROGRAM PAYMENTS: Dorothy M. Quinn & Pilgrim Church Service Scholarships: Anna
Scott Johnson ($1,250) and Brendon Geary ($1,250) $ 2,500.00
Memorial Garden - Landscaping $ 500.00
Powell Creative Word Fund - Plimoth Plantation Speaker & Workshop $ 1,194.00
Support of People and Programs:
- DCM Expanded Hours for Online Presence & Additional Responsibilities $ 6,000.00
- MetroWest Emergency Assistance Fund $ 5,000.00
- Two New Computers for Remote Work Due to COVID $ 2147.94
- The Rev. Barbara Lemmel (2020 "Coach") $ 190.00 $ 13,337.94
TOTAL PROGRAM PAYMENTS $ 17,531.94

(1) Held in perpetuity. (2) Available for spending. (3) Currently held in perpetuity as
designated by the congregation.

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