The Episcopal Church
Office of Public Affairs
The Episcopal Church Office of Finance has issued an updated report on budget and investments.
N. Kurt Barnes, Treasurer and Chief Financial Officer, announced that the nearly all of the dioceses have committed to The Episcopal Church.
“We now have 108 dioceses and regional areas (of 111) which have indicated and signed commitments for 2014 totaling $26.8 million,” Barnes said. “The revised budget assumed $25,885,000.”
Based on the preliminary Operating results for 2013, he noted:
“Overall,” Barnes said, “taking advantage of opportunities for revenue generation plus careful expense control produced a better result than budgeted. We will continue to emphasize that while we cannot control income, we can control expenses.”
Barnes continued that the DFMS has experienced exceptional performance of the Society’s trust funds – 7.5% annual returns since 2003 after all fees and expenses, ranking us in the top 1% of all foundations and endowments with assets greater than $50 million.
He pointed out that any Episcopal parish, diocese or other Episcopal-affiliated organization is welcome to co-invest in the DFMS trust portfolio, as do more than 50 participants in 75 funds.
Summary information is available on the Finance Office website at http://www.episcopalchurch.org/page/investing-us
Budgetary information is here
The Episcopal Church: www.episcopalchurch.org