Finance Mission: To be good stewards of the gifts God has graciously provided to Eastminster
Accomplishments in 2020: • Conducted 2019 Audit with audit firm of Capin Crouse. • Applied for Payroll Protection Plan (PPP) and received assistance under the plan. • Applied for forgiveness of PPP in late October and still waiting approval. • Paid off the remaining debt on the lot purchased with Trenholm Road UMC from Carolina Children’s Home. Eastminster is currently debt free. • Coordinated the development of 2021 church budget. • Guidance was provided by Endowment Committee to other committees responsible for using endowed funds in regards to spending rate for 2020. • Established text giving option for individuals to donate to the church • Closely monitored the budgets of the church and the Eastminster Day School due to the uncertainty of the impacts of Covid. • Received several endowment gifts during 2020 including gifts from Dr. Jim and Lou Ebersole and a continued contribution from Bob Ariail’s estate. Also, received an anonymous gift to the Eastminster endowment of $500,000 at the end of 2020.
Goals for 2021: • Conduct 2020 Audit. • Form an audit subcommittee to assist with the church audit each year. • Further review and develop the guidelines of the reserve and look at investment opportunities for these funds. • Develop a protocol for the membership of the Finance Committee and the responsibility of the committee, especially for succession of leadership. • Work alongside the new Safety Committee and support their work. • Work closely with the Communication Committee in providing the support needed in providing the latest technology for the ongoing ministry of the church. • Coordinate the development of 2022 church budget. • Developing a Whistle Blower Policy, Retention Policy and Disaster Relief Plan as suggested by the church’s auditors. • Continue to work on building the endowed funds of the church though programs such as Wills University and other promotions. • Continue to work with Central Carolina Community Foundation who manages the funds of Eastminster’s endowment to develop an investment policy for the church Want to know more? Finance Chair: George Derrick (2021) - gderrick001@sc.rr.com Eastminster Staff Support: Bill Collins & Christy Rippy Eastminster Annual Review - Page 24
