The Finance Committee is responsible for preparing and monitoring the annual operating budget of the diocese. It makes recommendations to Bishop Mariann and the Standing Committee concerning requests for sales or encumbrances of real property and separate congregations. In 2022, the Finance Committee continued to track the ongoing financial impact of the pandemic on the diocesan budget to suggest adjustments as necessary. The committee started drafting a budget for 2023 over the summer and committee chair Stephen Gibson presented this preliminary version during the fall Regional Gatherings.
After many faithful years of service on the committee, Stephen Gibson will step down as chair after the 2023 Annual Convention. We are grateful for his wise counsel and dedication.
FINANCIAL RESOURCES COMMITTEE
The Financial Resources Committee (FRC) is charged with the design and implementation of plans to strengthen the financial capacity and ministry of congregations in the Diocese of Washington.
In 2022, the FRC offered these helpful resources:
- Annual Giving Campaign Toolkit
- See, I am doing a new thing (Isaiah 43:19) continued the theme from January’s Diocesan Convention.
- New this year, the FRC offered free customizable videos to help parishes with their campaigns. Over 40 of our parishes took advantage of the opportunity.
- As in previous years, the resource page of the refreshed toolkit has been accessed by hundreds users (including some parishes from other dioceses and denominations)
- The FRC conducted summer workshops in preparation for fall Annual Giving Campaigns
- FRC offered individual consultations and annual giving campaign support in support of several congregations across the diocese
The FRC looks forward to providing support for 2023 Annual Giving Campaigns with a new toolkit available in the summer. The committee will continue to explore ways it may expand its offerings, including the development of resources for small campaigns (4 zeroes or less), networking for stewardship committee chairs, a toolkit for treasurers, and a workshop for clergy on preaching about money.
DIOCESAN GRANTS AND SCHOLARSHIPS
The diocese administers a range of life- and ministry-changing grants and scholarships to our leaders, congregations, and wider communities. We give thanks to the many volunteer committee chairs and members who take great care in carrying out this important fiduciary responsibility. Below, we report the actions and disbursements of each fund in 2022.
- COVID-19 Relief Fund
- $65,000 in grants were awarded to families, food banks, and feeding programs
- In December, the fund was discontinued and remaining monies were reallocated to parishes with refugee and migrant assistance ministries
- Angus Dun Fellowship Fund
- This fund supports continuing education for canonically resident clergy
- 3 individuals were each awarded $1,000 grants
- Clergy Children Scholarships
- More formally known as Claggett Fund Grants, these scholarships are available to help cover the cost of education from grade school through college for the children of canonically resident clergy
- 15 families received a total of $45,000 in grants
- Congregational Growth Grants
- These grants are intended to help congregations explore new ways to grow and meet the needs of a changing world
- $135,000 in grants were awarded to 24 parishes, many of which focused on upgrades to parish technology and websites
- We welcomed 2 new members to the Congregational Growth Grants committee
- Hunger Fund
- $21,500 in grants were awarded to 9 institutions
- In late December, after a long period of discernment with Bishop Mariann, the Hunger Fund Committee chose to cease operations after its final grant cycle at the end of January 2023. Read about went into the decision here
- St. Mary’s County Scholarship Fund
- This fund provides scholarship help to Black students from St. Mary’s County in pursuit of a degree in an accredited college/university or certification in a post secondary educational program
- $12,500 in scholarships were awarded to 16 students
HIGHLIGHTS OF 2022 AND TAKING OUR NEXT FAITHFUL STEPS IN 2023
- For 2022, Congregational Giving was budgeted at $2.3 million. As of December, we were running approximately $70,000 ahead of budget.
- For 2023, Congregational Giving remains budgeted at $2.3 million
- In 2023, income from the Soper Fund is anticipated to drop slightly due to the poor performance of equity and bond markets in 2022.
- Staff salaries are budgeted to increase 3.5% for 2023