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Where does all the money go?

 Financial Considerations

1.      There are very few discretionary costs at the redeemer.  Salaries, benefits, and fixed costs (heat, electricity) comprise over 95% of our budget

2.      The average Pledge is $2400 per PLEDGE.  The average pledge per parishioner is less that $1000. The cost per parishioner to run the Redeemer is $1285.

3.      The Current draw on the endowment due to low pledging is UNSUSTAINABLE

Background

·         Clergy and staff, their salaries and benefits, cost over $575,000 or 65% of an almost $900,000 annual budget.  Our Clergy is excellent, we have the highest quality music, our Church School, Youth Choir and youth activities continue to attract young families, which are our primary source of growth.

·         We have not overpaid our staff.  Our goal should be to attract and retain the highest quality people and to treat them as fairly as possible.

·         2009 was the first budget in several years to contain a full compliment of staff.  2009 Budget of $890,746 is up almost $160,000 from the 2007 Actual expenses of $731,100.  All of the increase comes from a combination of a: 1) a full year of the Curate, Marc Eames, 2) filling the position of an Executive Assistant, Laine Walters Young, 3) salary increases in line with inflation, and 4) an almost $45,000 increase in a combination of employee retirement and health benefits.

·         Annual giving has been impacted by the economy and the affect on fellow parishioners.  2009 Pledge Income will come in at $649,000, almost $18,000 below plan and $30,000 from the giving level in 2007.  The number of pledge units in 2009 will come in at 250, down from 275 in 2008 and 2007.  The decline in 2009 Pledge Income comes from; 1) the loss of pledging units, 2) a net loss in pledge income as the amount received from the 80 parishioners who increased their pledge did not offset the loss of pledge income from the 40 parishioners who decreased their pledges, and 3) the gain from the 30 new pledges in 2009 failing to offset the loss from the 60 who pledged in 2008 but didn’t pledge in 2009 (this includes those that moved away or died).

·         The 2010 Stewardship Financial Goal is $750,000, $100,000 or 15% above 2009 but a more realistic 10% increase from the giving levels of 2008 and 2007.  The participation goal is to raise the number of pledging units from 250 to 275, a 10% increase.  The longer-term goal would be to raise Stewardship to almost $900,000 or equal with our operating expenses.

·         Attaining the 2010 goal will be dependent on gaining back those that have pledged in the past and convincing those that can give more to do so.

·         The goal of $750,000 would reduce the draw on the Endowment to a level that would be sustainable.  Note that the dependency on the Endowment in 2009 to fund the shortfall from pledge income is up to 23%, which is not sustainable.  

·         The economy affects each parishioner differently. Parishioners are asked to think in terms of increasing their pledge not only to meet the financial goal but just as important, being mindful that they are helping those parishioners who would give more if they could.  When we give to the Redeemer, we are giving to ourselves.

·         Money for Outreach and Mission are raised through the Church Service League and the Christmas, Easter and Thanksgiving Offerings.  The line item in the Budget called Outreach or $107,546 in 2009, includes $96,886 that is the Redeemer’s Diocesan Assessment.  Except for the Diocesan Assessment all of the Pledge Income goes towards Church Operations.

·         Property and Utilities at $132,000 or less than 15% of the Budget is the next largest expense following Salaries and Benefits.       

·         While the average pledge is $2,600 per pledging unit (250), the average pledge per parishioner (700) is less than $1,000.  We ask that parishioners think in terms of what their pledge level is per family member.  A husband and wife pledging $1,000 are pledging $500 per person.  A family of five pledging $1,000 is $200 per person or less than 55 cents per day.

Participation Matters

• Our Long-term Goal is 100% Participation.

•  Every single dollar helps, so even a symbolic pledge is encouraged

•  If people are uncomfortable pledging because of an “issue” please let them know that a Stewardship/Vestry/Clergy call can be arranged

Background

·         Comfort with pledging may vary based on lack of relationships or familiarity, distance, health, or changes in family circumstances

·         If people feel they are not in the position to pledge “enough” please reassure them that every single dollar maters and every gesture is a pledge.

·         One goal is to cover our budget.  Another goal is to unify the church by100% participation.

·         Words such as “every gift from the heart will help the Redeemer’s mission of caring for souls”

·        If people have important questions about the church that they need to explore further to feel comfortable with a gift, PLEASE reassure them that we can investigate and get back to them.  A clergy call is a possibility.

379 Hammond Street, Chestnut Hill, MA 02467
tel 617-566-7679, office@redeemerchestnuthill.org