2020 Diocesan Vestry RetreatThe Diocese of Southwest Florida

Anne Vickers and Martha Goodwill

What’s Next? And Why?Financial Sustainability in an Unprecedented Time

May 2, 2020

ECF Publications

TEC Publications

• Financial Management• Internal Controls, Bookkeeping• Taxes and the Episcopal Church• Clergy Discretionary Funds• Audit Guidelines• Risk Management and Insurance• Parochial Reports• Records Management

Diocese of Southwest FL Publications

• Endowments• Debt• Property Usage• Capital Budgets and Campaigns• Operating Budgets• Staff and Compensation• Operating Income Trends• Relationships

LEGACY

CAPITAL

OPERATING

What’s the Same…. Endowments

$21 $23 $24 $25 $29

$33 $27

$31

$12

$17 $20

$23

$24

$24 $30

$33

$-

$10

$20

$30

$40

$50

$60

$70

2012 2013 2014 2015 2016 2017 2018 2019

Mill

ions

Endowment Asset Growth

True Endowment Board Designated

What’s the Same….Debt

$19

$18

$19

$15

$13 $12

$9

$7 $7 $7

$0

$2

$4

$6

$8

$10

$12

$14

$16

$18

$20

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Mill

ions

Debt Reduction

What’s the Same….Capital

Property UsagePreschool/After School

Care (13, $0-57k) K-8/12 School (9, $0-151k)

Thrift Shop (14, $0-138k)

Rental Houses/Rectory (26, $0 - 17k)

Parking Lots (4, $1-41k)

Cell Towers (2, $19-20k)

Group Meetings(51, $0-26k)

Community Garden/ Farmers Market

(2, $2-48k)

Hosting Other Worshipping Community

(3, $10-54k)

$4

$3

$2

$4

$3

$2

$3

$6$6

$8

$0

$1

$2

$3

$4

$5

$6

$7

$8

2010 2011 2012 2013 2014 2015 2016 2017 2018 2019

Mill

ions

Capital Incomeof all 76 Congregations

What’s the Same…. Budgets

-150

-100

-50

0

50

100

Budg

et (D

efic

it)/S

urpl

us

Thou

sand

s

2020 Budgeted Net Total (Deficit)/Surplus

Safety Net / Watch

What’s the Same…. Staff

What’s the Same…. Clergy

What’s Next? Trends

$(200)

$(100)

$-

$100

$200

$300

$400

Thou

sand

s

Change in Operating Income 2018-2019

What’s Next? Liquidity

Level 1-Cash• Accounts Receivable net of

Accounts Payable

Level 2-Line of Credit• Available Line• New Debt Options

Level 3-Board Designated Funds• Quasi Endowment

What’s Next? Relationships

Congregation Leadership and

Parishioners

Diocese

Church Pension Group

The Episcopal

Church

Banks / Government

SBA

Community Foundations

Community Leaders

What’s Next? Relationships

Congregation Leadership and

Parishioners

Diocese

Church Pension Group

The Episcopal

Church

Banks / Government

SBA

Community Foundations

Community Leaders

• Giving Challenge • Rapid Impact Grants

• 90 day hardship grace period on benefits and property insurance

• Clergy pension assessment waivers (per emergency policy)

• Education & Wellness offerings• EAP

• Zoom Grants; Food bank grants• Waiver of Apportionment $156,890 to date• 2 month loan suspension• Guidance/Training/Development

• 28 banks• Round 1 and 2• PPP Loans Funded $5,152,040

• Front line vs. COVID-19• Human Services Partnerships

• Ecumenical Partnerships

• Manual for Business Methods• Triennial Budget, Asking• Virtual Choir

What’s Next? Innovation

www.episcopalswfl.org/video.htmlwww.episcopalswfl.org/give.html

Questions?

VESTRY CONVERSATION TOPICSFrom Finance Resource Guide

1. At present, who are the people in your congregation with a role in your congregation’s finances? How long have they been in those roles? How are

you inviting new leaders into financial leadership and allowing them to discern how to best use their gifts? (Chapter 3)

2. What areas feel “mysterious” or “out of control” or “risky” in terms of your congregation’s financial health? How and when do you want to invite the wider

congregation into an assessment? How long is your runway? (Chapter 5)

3. How has your congregation prepared for a disaster that might impact your building, worship, employees, data, or leadership? Drawing on your experiences

from Hurricane Irma and COVID-19, what has been impactful? (Chapter 9)

2020 Diocesan Vestry RetreatThe Diocese of Southwest Florida

Today’s Materials are Online

http://www.episcopalswfl.org/retreat.html

Evaluation Survey

http://www.episcopalswfl.org/retreat.html

2020 Diocesan Vestry RetreatThe Diocese of Southwest Florida