From the Treasurer

This is an update of St. Philip’s financial results through August.

There have been some important and alarming changes since I last reported to you.

First, the contribution income (pledge and plate) has dropped below the projections the Finance Committee uses to measure how we are doing. This is the equivalent of an alarm bell, warning us to take action. It’s like those lights in our car that flash orange to let us know something needs attention—and that we should act before they turn the dreaded red.

We usually see a dip in contributions during the summer months, and that is true this year. However, the dip is larger than expected and has raised the alarm.

Second, many small businesses and non-profits closed during the pandemic. Sadly, we’re not free of that impact. The Beginning School, a long-time tenant and partner here at Saint Philip’s, was forced to close due to the financial realities of the pandemic. We lowered rent and sought other ways to help but ultimately, they felt they could no longer keep the school open and profitable. We did not anticipate closure and the total loss of that income.

The convergence of these two creates a less certain financial picture, though it feels like uncertainty is the only certain thing these days.

We’ve constrained expenses where possible and increased spending on some things we’d reduced during the pandemic, such as the maintenance of our grounds contracts. New costs, especially our online services, add to our expenses even as we balance the real cost and benefit of having church both online and in-person as people debate how and when to return to church.

We are working with a potential replacement for the school, but it will not open before next January at the earliest.  And, for it to open, we will have to do some cleaning, painting and a major refurbishment of the playground. 

We’re working hard to avoid the flashing red light on our financial dashboard and are asking you to help. We’ve managed to come this far through the pandemic because of your faithful generosity. So many have found this place to be a firm foundation when so much seems to be so shaky right now. We hope you will help us keep that foundation as solid as it has been throughout this challenging time when we’ve all needed it. Thank you, as always, for your commitment and your faith.

I thank Fr. Robert and Mtr. Mary for helpful suggestions to improve this report.

—Herb Burton, Treasurer