Chapter opened with prayer and approved the April minutes. We welcomed our new member, Erin Sacco Pineda.
Sam Ward presented the Endowment Committee’s Semi-Annual Report:
- The Chapter approved the Endowment Committee’s newly revised investment policy. It was noted that the Cathedral’s investment strategy is oriented toward moderate-conservative growth.
- The two Cathy Hopper Grants have been largely disbursed to the Cathedral’s endowment. One of the grants is for the benefit of children and youth ministry at the Cathedral and the other for the children of Dorcas House. The remaining grant funds will be disbursed soon. Once disbursed, the income from these funds will continue to fund mission and ministry for many, many years to come. Cathy Hopper was a much beloved and active member of St. Paul’s for many years and her generosity and commitment to children and outreach is a legacy that will live on thanks to these gifts. If you would like to learn more about leaving a legacy at St. Paul’s by leaving the Cathedral a gift in your will or other estate plans, click here.
- Some time ago, the committee decided to invest a portion of our capital in Socially Responsible funds. The funds did not perform as well as our other funds, so the Chapter has started a discussion: Is it more responsible to maximize the return on our investments to enable us to do God’s work within our own Cathedral and in the world, or to accept a lesser return but know that our money is being used to further the work of socially responsible enterprises? Do we all agree on what it is responsible to invest in? Can we even trace all the different places our funds are in on any given day? Should we invest some money in micro-businesses and accept a lower return, knowing that it is Outreach? We struggle with these and other questions personally and as Christ’s body. Chapter will explore this issue further with the Cathedral congregation, beginning with forums. You can view the first of these forums here:
The Finance Committee presented their report showing that the Cathedral’s finances are generally healthy and on budget.
The Buildings and Grounds Committee is investigating the cost to repair a bowed window in the Chapel. Both parking lots are being restriped.
The Dean reported that he would be traveling to Sacramento to lobby for a moral budget. (For a further report, see the forum above).
A three week Time and Talent Campaign is planned beginning near the end of May through June 13. You can learn more by clicking here.
A Mini-Stewardship Campaign (to help us stay on track in pledge income during summer vacationing months) as well as a Seminarian Campaign will be conducted in June.
Chapter approved and signed Mike Angell’s candidacy certificate. Mike is at Virginia Theological Seminary. You can follow Mike on his Blog here.
The Chapter agreed to continue conversation and groundwork related to a future Organ Restoration Project.
Carol L. Walsh, People’s Warden