Emmanuel Parish Finances

Our parish has many resources. Our financial base is strong and healthy; pledges have increased in recent years; we have ended the last few years with a budget surplus; and our Endowment continues to grow. We view stewardship as a year-round spiritual undertaking, an aspect of Christian service and commitment, evidence of faith, and a statement of our convictions. We are committed to using our financial resources wisely and effectively to strengthen our ministries and to do God’s work in the world.

The Canons of the Diocese of Atlanta clearly state that the Vestry is responsible for the temporal affairs of the parish. The Bylaws of Emmanuel Parish further state that the expenditures of parish funds are under the direction of the Vestry and that the Vestry is responsible for generating and monitoring the annual budget. All expenditures of parish funds must be approved by the Vestry. The financial operations of the parish are overseen by the Finance Commission, the Finance Committee, the Treasurer, and the Director of Finance and are audited annually. The complete monthly statements and the independent auditor’s report are available in the office of the Director of Finance.

Current Monthly Statement

Each month the Director of Finance prepares a summary of the monthly statement for publication in the parish newsletter and this website. June 30, 2010 summary.

Endowment

Emmanuel Church is also blessed to have a healthy endowment. The Emmanuel Parish Endowment Fund is a separately incorporated organization with its own Bylaws and its own Board of Trustees elected by the Vestry; the Rector is an ex-officio member of the Board. The Board administers the funds and distributes the income to the Vestry; in 2007, the Board hired State Street Global Advisors in Boston to manage the funds. Some income derives from funds whose specific use was designated by the donors; the rest is distributed to the Vestry to be used as the Vestry decides.

The Emmanuel Endowment Board of Trustees have fiduciary oversight over four separate investment accounts commonly known as the Mildred V. Rhodes Trust, the Elizabeth V. Williams Trust, the General Fund, and the Special Trust, all set up from gifts and bequests by parishioners, some dating back to the inception of the Foundation in 1944. The Rhodes and Williams Trusts are the largest (accounting for approximately 75% of the Endowment) and are commonly known as the Williams-Rhodes Endowment; the income from these two trusts is allocated at the discretion of the Vestry according to a formula that is reviewed annually. The current allocation is 70% for Outreach, 25% for Building, 2.5% for Rector’s Discretionary Fund, and 2.5% for our Music Program.

The Emmanuel Parish Endowment Fund grew from contributions of loving parishioners in the early 1940’s who wanted to help ensure the future for successive generations of Emmanuelites. Currently the Fund has assets of over $8 million which generate over $200,000 annually to support our ministries. We are blessed to reap the benefits of these visionary parishioners. People interested in contributing to the Endowment should contact the Rector.

Planned-Giving Program for Emmanuel

In 2007, the Vestry began the work to create a planned-giving program to grow the Endowment further and offer more support to the ministries of Emmanuel. We will post information about the planned-giving program as it becomes available.