Regathering Again
We can’t wait to regather with you soon for regular in-person worship, both inside the Cathedral building and with an outdoor option for those who aren’t quite ready to return inside just yet. Our Regathering Team and Vestry have submitted a formal regathering proposal to Bishop Jennifer Baskerville-Burrows, and once approved, we anticipate being able to offer regular worship services (at limited capacity indoors) again in early May. Please stay tuned to the weekly Good Word and to our social media for updates and sign ups.
Note: even as we regather in person, we will still continue to livestream our worship services at 10 am and 1 pm.
Thank you, Diocese of Southeast Mexico!
In December 2020, we completed our planned five-year partnership with the Diocese of Southeast Mexico. While we had planned one last mission trip to visit with our companions at Nuevo Progreso last summer, we were limited by the restraints of the COVID-19 pandemic and regret that we missed the chance to celebrate in person. We give thanks for much fruitful ministry together over these five years, and our Global Missions team looks forward to discernment and conversation this summer about where God is calling us to ministry and partnership next.
Christ Church Cathedral Foundation 101
If you wonder about the source of dollars to continue paying salaries, employee benefits, the costs of streaming services and concerts, and all the other important aspects of our church life when there are no dollars dropping regularly into offering plates on Sunday mornings, continue to read, please. About 90% of the Cathedral operating funds are the result of withdrawals from Christ Church Cathedral Foundation, Inc., an Indiana not-for-profit corporation and a type 1 supporting foundation. It was formed by the Cathedral in 2012 to act as successor trustee for three trusts that had been established by Eli Lilly for the benefit of the Cathedral. Mr. Lilly had named three Indianapolis banks to serve as the Trustees for the three trusts. Over the years, the result of various mergers and acquisitions was that the trustees were two out-of-state banks. In order to improve the administration of the trusts, implement a coordinated investment policy, and reduce expenses, the Cathedral petitioned the Marion County Probate Court to appoint a single trustee, the Foundation, to manage those trusts. In December 2013 and January 2014, the two banks resigned as trustees of all three trusts; the Foundation was appointed successor trustee; and the three trusts were consolidated into a single trust by order dated January 31, 2014. Additional assets held by the Cathedral were also transferred to the Foundation: an unrestricted endowment, the Joanna Hall Pastoral Care Fund; and the Joseph C. Talbott Memorial Fund.
The amount of money available to the Cathedral each year is calculated by applying a percentage (5% or less!) chosen by Vestry to a trailing 12-quarter rolling average of the value of the trust. In 2019 and 2020, that percentage was 4.75%. Vestry has chosen to decrease that percentage to 4.5% for 2021.
In a year so painful for many, the Foundation ended 2020 with total assets of $81.2 million, growing from $75.4 million at the end of 2019 (and dropping to a low of $65.9 million in March 2020). At the end of February 2021, the total assets had grown to $82.8 million. The February return which resulted in this balance exceeded by .4% the return which would have been expected with our investment policy. This means that our investment partner, Cambridge Associates, is adding value, and this is always good news.
If you have questions about Christ Church Cathedral Foundation, you may surely send an e-mail message to board president Linda Zimmermann.
Vestry Meeting Minutes
February 2021 (English, Spanish)
Our Vestry meets the fourth Tuesday of each month via Zoom, and all our meetings are open to members of the congregation. Questions or concerns? Please contact Senior Warden Tim Culbertson.
Christ Church Cathedral 2021 Budget as of February 28, 2021
Questions or concerns about the 2021 Budget? Please contact Cathedral Treasurer Irma Petrosino.
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