108th Annual Meeting Welcome!
AGENDA: 1. Call to Order and Prayer 2. Determination of a Quorum Michael Lawrence 3. Approval of Minutes of previous Annual Meeting (May 3, 2015) 4. Annual Report Christopher Johnson and Ross Fraser 5. Elections Stanley Ackert III PROGRAM: Guest Speaker; The Rev. Canon Dr. Victoria Sirota, Canon Pastor and Vicar, Congregation of St. Saviour at The Cathedral Church of St. John the Divine
Annual Report 2015 How far we have come. Our Club was founded March 23, 1908 Six months before this photo was taken
is a fellowship of lay women and men from around the United States. Since 1908, we have worked together in support of our beloved Cathedral and its programs. is a tax exempt corporation under section 501(c)(3) of the Internal Revenue Code. Donations are tax deductable to the extent allowed by law. Corporate Address; 1047 Amsterdam Ave., New York, NY 10025 We raise money, manage a million dollar fund from which we make periodic capital contributions to the Cathedral, we hold educational programs which promote the Cathedral s influence in the world and most of all, we hope ultimately to see to its completion.
Message from the President 2015 was a transition year for us, where we explored our relationships with our Cathedral staff counterparts and learned what types of projects we could bring to the Cathedral for implementation. Sadly, in October, due to his other commitments, Wayne Yankus, our President Elect and my right hand, submitted his resignation. As a result, we have been in a discernment and search process for our next President, something that should be done prayerfully and without unnecessary haste. We continue to play our part in supporting the Cathedral we love, in both capital projects like the Grand Staircase restoration and the new Joint Task Force with the Public Education Department. Floreat cathedra! Christopher L. Johnson
Fellowship and Educational Events Since our founding, our Club has held educational events to promote the Cathedral s role in the world and fellowship events to bring cathedral builders together. Here are some events we sponsored or co-sponsored in 2015; Members enjoying fellowship after Donatello tour. We celebrated the Roosevelt family's century of impact on our Cathedral with a book launch and panel led by FDR III. "Hissing Cousins" is the Untold Story of Eleanor Roosevelt and Alice Roosevelt Longworth, written by Marc Peyser and Timothy Dwyer February 28 March 13 April 30 May 3 October 6 October 25 November 4 December 7 Private tour of the Donatello Sculptures at MOBIA Farewell to the Phoenixes Book launch of "Hissing Cousins" The 107 th Annual Meeting Value of Food opening reception hosting Canterbury Clubs for Evensong All Saints Memorial Service, with The Rev. Thomas Pike as celebrant & guest lecturer Saint Nicholas Toy Collection for Cathedral Community Cares
Management It takes a lot of meetings to run any organization. Your club holds quarterly Board meetings and other external meetings with staff as needed. Here is a partial list of formally scheduled meetings; January 14 February 20 March 3 March 3 March 6 March 11 May 6 May 23 May 26 June 3 August 15 September 9 September 21 November 10 November 5 December 9 Board of Governors meeting Meeting with Sally Brenner re Development Meeting with Julia, Lisa & Kent re Development Idea Fabric Committee attended by Club President Investment Committee s annual investment review with TIAA-CREF. Board of Governors meeting Special Fabric Committee mtg on Lighting Proposal Executive Committee Fabric Committee attended by Club President Board of Governors meeting Executive Committee meeting Board of Governors meeting Fabric Committee attended by Club President Fabric Committee attended by Club President Budget Committee & Executive Committee Fabric Committee attended by Club President Board of Governors mtg in L Engle Library
Membership The number of people who give each year is not consistent. Various members give sporadically, paying some years but not others. Dues payments are up slightly with 2 new member in 2015. Total Dues 2014 = $4573 Total Dues 2015 = $4625 Number of dues paying members in 2015 73 Number who paid in past 3 years but not in 2015 27 Total Paid Membership 100
Treasurer s Report The purpose of the Operating Budget is to cover all administrative and event expenses through dues and fees so that the invested funds are never tapped into but reserved for capital contributions to the Cathedral. Entrance Fees have not been covering event costs recently, partially because of the difficulty predicting attendance and partially because of increased costs to run events ourselves. One solution is to include more shared events with the Cathedral or off Close events with per person fees. Income 2015 Operating Budget actual Expenses Dues $ 4,625.00 Event Income $ 2,212.00 Book Sales $ 40.00 $ 6,837.00 Administration $ 3,083.00 Events $ 5,450.00 $ 8,533.00 Net $ (1,696.00)
Treasurer s Report (continued) The Capital Budget allows us to plan periodic capital grants to the Cathedral from our investment fund. The Club s Investment Policy Statement during 2015, gave us an annual guideline for Expenditures & Gifts of 3% of the total fair market value of the Fund at end of the previous year. In 2015, the Club and the Cathedral did not identify a project appropriate for a grant. Therefore, the monies were rolled over into 2016 and will be used on the Grand Staircase restoration. Your Board of Governors works hard to manage the monies you entrust to us and to make your contributions to The Cathedral as meaningful as possible. 2015 Capital Budget actual Source From TIAA-CREF (3%) $ 28,848.00 From Unspent Reserve $ 7,500.00 $ 36,348.00 Grants None $ 0.00 Net available for roll over $ 36,348.00
Project Grants to The Cathedral Working with the Fabric Committee, the Development Office and other Cathedral departments, your Board of Governors proposes and negotiates grant ideas that are appropriate when utilizing our investment fund. Sometimes the meetings bear fruit and other times not. Some of our recent ideas, like Jazz in the Library or the Lighting of the Rose Window, did not gain traction. However, we have recently come to an agreement to fund the Grand Staircase restoration which will occur in the late Spring of 2016. Monies not spent in any given year are rolled over to the next, which gives the board the flexibility to spend wisely. We thank the various Cathedral Trustees and our staff counterparts for their assistance and hard work in these projects.
Investment Committee Report TIAA-CREF Financial Services are our investment managers for the fund, which has been accumulating over the years from legacy gifts including a 2015 Gift from Estate of Min Finger of $13,127.73 Portfolio Value by Year During late 2015 into early 2016, the markets suffered a lot of volatility and we were not immune. Portfolio Value (12/31/15) $ 946,609.97 Total growth in 2015 = -1.5% However, our fund has largely recovered and is now worth $ 974,249.43 Our board continues to be satisfied that the fund is properly invested and managed.
Plans for the future; the Grand Staircase In early 2016, your Board of Governors approved our largest project in many years - $116,000 for the repair of the Grand Staircase. After 90 years of unparalleled service, the Grand Staircase on the Cathedral's Western Front is in need of repair. New York's rapid freeze/thaw cycles and millions of pilgrims footsteps have taken their toll. Pollution has also impacted the color and appearance of the stone. Our Club just had to do something! However, we are hoping to raise additional monies to supplement our fund. Otherwise, we are borrowing into 2017 to complete this grant. 2014 7,500 rollover 2015 28,848 rollover 2016 47,331 new grant at 5% Total $83,679 $116,000 - $83,679 = $32,321 shortfall. Expect details to follow regarding our fund raising campaign for this project.
Thanks to our 2015 Leadership Team Board of Governors Officers Christopher L. Johnson President Wayne A. Yankus, MD President-Elect Michael E. Lawrence Recording Secretary Timothy Dwyer Corresponding Secretary Ross Fraser Treasurer Stanley M. Ackert III* William Cassarini Lisa Chin Susan L. Chute Michael Dougherty Timothy Dwyer* Ross Fraser* Christopher L. Johnson* Lorenda A. Johnson* George Kooney Michael E. Lawrence* Meryl Beth Marcus* Michael Nixon Charles R. Roberts William Schneberger* Richard S. Whaley Wayne A. Yankus, MD * terms expiring in 2016
ELECTION CANDIDATES We are electing 4 persons to be officers (2 year terms) and 4 persons to be Governors (3 year terms) Officers President Treasurer Rec. Secy Corr. Secy Chris Johnson Cong. of St. Saviour Ross Fraser Holy Trinity, Hicksville, NY Ruth Mueller-Maerki Cong. of St. Saviour Tim Dwyer Cong. of St. Saviour Governors Michael Lawrence St. Mark's, Mt. Kisco, NY Meryl Marcus Cong. of St. Saviour Bill Schneberger Trinity, Allendale, NJ Kyoko Toyama Cong. of St. Saviour This slate was recommended by the Nominating Committee and approved by the Board of Governors.
PLEASE WELCOME OUR SPEAKER; The Rev. Canon Dr. Victoria Sirota Canon Pastor and Vicar, Congregation of St. Saviour at The Cathedral Church of St. John the Divine