2022 ANNUAL REPORT: FINANCE & BUDGET

Be strong and of good courage . . . for the Lord your God is with you wherever you go.
Joshua 1:9

At its heart, stewardship is an understanding that everything we are and everything we have – including our financial resources – comes from God. We give back by taking some of what God has given us and returning it to use for God’s work in the world, and we thank God by sharing our blessings, offering them to the service of others and advancement of God’s kingdom. From identifying the most fruitful soil for strategic investments to equipping parish leaders with tools to grow in financial vitality to monitoring and adjusting the diocese’s budget priorities as needed, Bishop Mariann, diocesan staff, and the volunteers who serve on our various financial committees steward the resources of the diocese – God’s gifts to us – with care and intention. In 2022, as we began emerging from the COVID-19 pandemic, Bishop Mariann and her team remained acutely mindful that the financial impact of the pandemic were not evenly distributed and recovery will remain an ongoing process.
Close up of hands giving and receiving the host at June's priesthood ordinations service at Washington National Cathedral
Paper doves in nave at Washington National Cathedral
We've Come This Far By Faith logo for the 2021 Annual Giving Campaign toolkit

FINANCE COMMITTEE

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