St Luke’s Church Parish Profile

Our Finances
Our Congregation:
St Luke’s has 1,199 communicants in good standing, as cited in the 2010 Parochial Report.
We currently have 245 pledging units, offering $383,000 for 2011. Our average Sunday attendance
is 249 persons.
Financial Management:
The Finance Committee is composed of eight lay persons, including a lay Treasurer, and meets
monthly. Its responsibilities include recommending an annual budget for Vestry approval, monitoring
performance, recommending actions to the Vestry as required, and advising Vestry and the Rector
on financial matters.
Endowment & Restricted Funds:
The church has temporarily and permanently restricted funds that are invested in the Diocesan
Investment Trust of the Episcopal Diocese of Rhode Island. The Treasurer uses fund accounting to
properly track the various funds, and a complete list is part of the Treasurer’s Annual Report
(available upon request). Our total endowment and restricted funds total just under $1 million.
Donor Restricted/
Cheever Trust
$49,582
Rectory Fund
$249,988
Unrestricted/Vestry
Controlled
$307,665
Donor Restricted/
Flower Memorials
$13,344
Donor restricted/
Other $27,912
Staff
Related
$84,239
Church/Building
$173,574
Memorial Funds
$11,513
Budget Commentary:
Outreach/Mission
$69,757
Our financial position is strong, with just under $4 million in assets. We have met or exceeded our
budget in each of the last two years, due in part to a conservative philosophy of limiting programs to
funds availability. A separate funds campaign (“Restore, Refresh, and Renew”) was conducted in 2010
to address major facilities projects that were unattended in prior years.
We ran small deficits in 2008 and 2009, due mainly to the addition of an associate Rector. When
that individual left in 2009, the decision was made to eliminate the position, in order to improve our
financial picture. Given our current level of revenue, it is improbable that we will be able to support
two full-time clergy positions in the foreseeable future, unless and until stewardship resources and the
annual operating budget can so justify.
St. Luke’s Episcopal Church: P a r i s h P r o f i l e 2 0 1 1 20