Where is the money, what is is used for, and how is it managed?
For inquisitive minds, we hope this page provides explanation of the financial workings of St. James and how we finance being a center of worship and common life where Christ’s love is made visible and experienced in our community and the world.
Funds & Their Uses
At the annual meeting of the parish in February, parishioners approve an operating budget set by the Finance Committee upon advisement from the Vestry. The operating fund covers staff salaries and professional expenses; office supplies; utilities and maintenance; and outreach, educational, and program support. The Finance Committee anticipates revenues based chiefly on historical pledge data gathered from the previous year; it estimates expenses based on (1) recommendations of the staff, wardens, and volunteers who head various programs; (2) commitments already in place; and (3) on recent history and experience.
St. James maintains an extensive Memorial Fund, comprised of contributions made in memory of a loved one or in celebration of a special life event. The church uses these funds primarily to finance special projects not covered by the operating fund. The Memorial Fund is controlled by the Vestry and ministry leaders.
The St. James endowment fund was created by former parishioners who through numerous donations set up a legacy that has been able to sustain St. James in times of need for over 100 years. The endowment monies are invested funds, which are periodically withdrawn to help with major capital expenditures or other Vestry- and Trustee-approved projects.
The Finance Committee is a group of financially-savvy individuals that keep up with the day-to-day finances to keep St. James operating smoothly and efficiently. They work closely with our accountant and treasurer to ensure that our financial books are in order, and also put together a budget to submit to the Vestry and ultimately the congregation at-large for approval.
Contact: Bryan Lanich
Board of Trustees
The Trustees are primarily responsible for overseeing the church’s endowments involving outreach, building and grounds, and special projects, as well as managing the rector’s housing fund. The Board of Trustees is made up of the Senior Warden, Rector, and three elected members.
Contact: Walter Dewar, III
The Vestry is the governing body of the church made up of lay members elected by the congregation at-large. Every Episcopal Church has a Vestry that facilitates conversation and takes leadership of the church’s finances, missional objectives, and program offerings, and St. James is no exception. Our Vestry is the primary visioning body of our church, and members work closely with the staff, clergy, and members of the entire parish to adequately support, fund, and advance missions and objectives that ultimately allow the church to live more deeply into its purpose and move further down the path God calls St. James to follow.
Contact: Garyne Evans, Senior Warden