On Tuesday, July 1, The Episcopal Church Office of Finance issued a mid-year updated report on diocesan commitments. In the report, N. Kurt Barnes, Treasurer and Chief Financial Officer, announced “that all Episcopal dioceses located in the United States and nearly every non-United States diocese have committed to the 2014 budget of The Episcopal Church.”
Barnes reported that “42 dioceses have committed to the full 19% asking level adopted by General Convention 2012.”
The Episcopal Diocese of Fort Worth is one of those forty-two dioceses. Under the leadership of the Rt. Rev. Rayford B. High, Jr., sixth bishop of Fort Worth, the diocese is continuing its commitment to full participation in and support of the mission and ministry of The Episcopal Church, both in the wider church and in this area of North Central Texas. The diocese covers 23 counties in North Texas, continuing the work The Episcopal Church has done in this area since the mid-19th Century.
Barnes also reported that 39 dioceses are contributing between 10% and 19% and that commitments have been received from every diocese except one.
“The commitments from the dioceses for 2014 total $26.8 million,” Barnes said. “The revised budget assumed $25.8 million. We are especially thankful for those dioceses that are able to make commitments at the full 19% asking level established by a vote of the General Convention, and we appreciate those dioceses that are striving to increase their commitments each year.”
A complete list of diocesan commitments appears here.
The 2014 revised budget adopted by Executive Council is here.
Barnes also noted that trust funds, income from which accounts for 25% of the annual budget, continued their exceptional performance. “Annual returns after all fees and expenses were 15.2%, 16.5% and 7.2% for the one-, five- and 10-years ending March 31, 2014 – ranking within the top quartile of all foundations with assets over $50 million,” he said. “We invite any Episcopal entity to co-invest with the DFMS.”
Additional information appears here. Information about the Episcopal Church Finance Office is here.
Read the full report on diocesan commitments here.