The following summarizes the reports, discussions and actions from the joint meeting of the Session and Calvary Foundation Trustees that was held on Tuesday, July 10, 2018.
Clerk’s Report: Session approved the following: Minutes of the June 5 Session meeting and 8 membership changes. Membership as of end June 2018 = 887.
David Foster reported that the May financial results are in keeping with the 2018 budget expectations and there are no unusual or odd variances of trends. The May budget ‘cuts’ are moving through the implementation process, and David will do a report on them at the August Session meeting. In addition, David will do a 2018 reforecast after the June results are final.
Session accepted the CPA Review of the Annual Financial Statements for the year ended December 31, 2017 as presented.
The Mission, Vision and Values sub-committee comprised of Kathie Cheatham, Lois Dress, Jennifer Gee, Anne Grawemeyer, Travis Pearson, and Jack Poindexter worked with Rev. Chinn to re-draft a Mission, Vision, and Values Statement, taking into consideration all feedback from Session and the Congregation on the first MVV draft. Various changes were discussed and the document was modified. Session adopted the Mission, Vision and Values Statement as amended.
Session approved the proposed Mission Study Team members: Rev. Cal Chinn, Erin Dress, Amy Hockman, Dave McDowell, Jennifer Miller, Travis Pearson, Jack Poindexter, Marion Stanton, Project Managers – Lois Dress, Anne Grawemeyer, Staff – David Foster, Robin Morjikian, Charlene Thai. Rev. Chinn will be calling an organizational meeting for the team later in July.
Current and prior Calvary Foundation Trustees Amy Hockman, Stephanie Andre, and Travis Pearson provided an overview and history of the Calvary Foundation, from its establishment over 15 years ago, through re-organization prompted by the large gift from deceased Calvary member Jane Newhall, to its current investment policy and strategies. A Joint Foundation/Session Task Force was established in 2012 to consider the potential impact of Jane’s gift on Calvary. The Join Task Force gathered input from various resources including other Presbyterian churches and solicited feedback from both boards and from the Congregation. The Joint Task Force recommendations approved by both boards in 2013 included the following:
The Foundation uses Vanguard as its financial advisor, and the investment objective is “preserving the long-term, real purchasing power of assets while providing a relatively predictable and growing stream of annual distributions, in support of the institution.” The Foundation Net Assets at the end of 2017 were $19 million. The planned distribution to support the Calvary 2018 operating budget, which includes Faith-in-Action support of Calvary’s poverty partners, is $750,000.
MISSION TEAM REPORTS:
Education & Spiritual Formation – Adults (Kathy Bear, chair)
Fellowship – Adults (Kathie Cheatham, chair)
8/18 BBQ at Crissy Field West Picnic Area
Fellowship – Young Adults (Eddie Higgins, chair)
Giving (Greg Hausler and Marion Stanton Co-chairs, Robin Morjikian, Director of Development and Volunteer Engagement)
Membership – Nurture & Database (Ellen Champlin, chair)
Recommended 8 members to be moved to inactive membership
Lois Dress, Clerk of Session