Dear Clergy and Wardens of parishes in the Episcopal Diocese of Central Pennsylvania,
We are inundated with COVID-19 emails and news. In my role as Canon for Finance and Operations, I want to reach out to all of you whom, I know, are under tremendous stress and take this opportunity to focus on what can be done during this time of uncertainty. These recommendations and suggestions are broad in scope and some may or may not apply to your parish. Regardless, this is also a time for opportunity.
STOCK MARKET: The stock market really dislikes uncertainty. Similar to 2008-2009, we are in a climate of significant SHORT-TERM uncertainty. The Diocesan pooled portfolio has declined 25% since 12/31/2019 and I would be surprised if we have seen the bottom. So what should you do?
- Hopefully your parish follows something similar to the Diocesan investment policy of withdrawing no more than 5% of the account value based on a rolling 3-year average account value. If this is the case, do what you can to stay with the policy.
- Do what you can to limit unnecessary withdrawals. If you don’t need the money, keep it invested.
- Be careful making any significant investment changes. Timing the market rarely works.
(these last two ideas are not mine alone, but the advice of investment analysts who study the market and its fluctuations including those with whom we work at State Street and the Episcopal Church Foundation).
- If you have specific questions about your congregational portfolio, I am happy to talk and I can also put you in touch with our ECF representative for additional counsel.
BUILDING AND GROUNDS: There should be ways you can save some money operating your building(s). Please consider some of the following:
- Reduce Energy Use. While current guidance provides visibility out two to three weeks, assume it will be longer. Turn off or reduce temperature settings for hot water heaters and turn ALL heat down to 60-degrees or lower. Do not shut heat off completely.
- Keep building unoccupied by working remotely but make sure someone periodically checks on the parish.
- Defer any parish projects you have scheduled unless absolutely critical.
REVIEW YOUR BUDGET: Budgets are road maps, not roads. Sometimes detours are necessary.
- Review your entire budget. See what income needs to be reassessed and identify what cuts may be necessary now or in the near future. Try to run various scenarios or plans to forecast their financial impact. Be sensitive to the importance of clergy and staff. They are working tirelessly to foster the relationships that support the vitality of your parishes. Do not make irrational cuts to employment status.
FINANCIAL STEWARDSHIP: The topic of stewardship and money is critical to address now and with intention. The work that clergy, staff, and vestry members do is imperative and cannot happen without financial support.
- Clergy’s primary work in this time is continuing to care for the spiritual welfare of the parish and her people; financial stresses from reduced in-person giving can be mitigated by introducing new practices for keeping up to date with pledges. Regular contact from clergy to the congregation through phone calls is the best way to maintain connection. Several of our larger parishes have formed small “cell groups” with a vestry member in charge of each group, gathering them on-line to keep a sense of community. These measures will aid in keeping people connected spiritually and supporting their parish in this time.
- The Diocese has established a secure online giving platform where any parish is the Diocese can refer parishioners to make an online gift to your parish. The address is: www.diocesecpa.org/stewardship. The Diocese will issue checks and gift details every two weeks to parishes that receive gifts. There is also a DONATE button on the top of the Diocesan home page what will take people to the same link. Encourage parishioners to set up reoccurring gifts. Donations can be made with either a credit card or ACH (direct deduction from bank account).
COMMUNICATIONS: The Diocese exists for the benefit of the parishes it serves. Let us help you however possible. Please share your parish lists with the Diocese so we can add people to our email updates. Currently, we have only 1/3 of our congregant’s email addresses. Please consider informing your parish that communication is key in this time and that you will be sending the parish list to the diocesan communications office; parishioners can be given an option to “opt out.” This is critical. We can help get the word out about online giving, Diocesan updates, and other important information. This information will NOT be shared outside the Diocese. In addition, the Diocese will not solicit donations from anyone on those lists without the expressed consent of the parish. For communications questions, please contact
Canon Guszick
.
THE DIOCESAN LEADERSHIP: So what is the Diocesan Leadership doing during this current challenge? We are following the same recommendations outlined within this letter. We are reviewing our budget from top to bottom, assessing the impact of the markets, events, etc. We are also reviewing budget allocations to identify additional ways we can help parishes financially, while still maintaining our core functions. The Bishop is sending weekly updates to the diocese on Fridays and, in addition to regular clergy council meetings, she is hosting a Saturday Zoom session for clergy to check in. Other members of our staff are offering updates as needed.
I hope you find some of this information helpful as you navigate these challenging times. The Diocesan staff will continue to be available as we work out of our respective homes. I would be glad to review any budgets and financial reports for ways you might be able to save or reallocate funds. Please email me at
clinder@diocesecpa.org
if you would like to set up a consultation or have any questions.
Please remember that this crisis will pass. While we all are facing new challenges, this also presents an opportunity to build stronger relationships with your parishioners. Create a contact plan and follow it diligently. Also, don’t be shy about including stewardship as part of all of your communication.
God Bless.
