YEAR-END GIFTING TO ST. MARK

 

Historically, tithing at St. Mark has been made via outright financial gifts. We just write a check, pay by credit card, or make a direct deposit to St. Mark. In addition to supporting the ministry of St. Mark, this may have provided you an immediate income tax deduction, should you itemize deductions on your federal tax return. 

You may also want to consider making an outright gift of investment securities such as stocks, bonds, mutual funds, or other investments to St. Mark. You may have investments (outside your retirement plans) that have increased significantly in value over the years, creating an opportunity for a suitable charitable contribution. Again, this may create an immediate income tax deduction. Our church office can assist you with this transfer and credit against your pledge. 

Always consult your financial planner or tax professional to review the most appropriate way for you to give to St. Mark. For further information or questions, please contact the St. Mark Finance Committee.

Photo by Leiada Krozjhen on Unsplash

ENDOWMENT and FINANCE COMMITTEES

 

The Endowment Fund was created to receive and manage property of monies from bequests, trusts, memorials and other special gifts to be used for the benefit of St, Mark Presbyterian Church or any of its missions. The Capital is invested conservatively and 4% of the year-end balance on hand is used each year to fund non-operating budget items. Decisions regarding the use of the monies are made by a committee consisting of four elected members and one Session-appointed elder plus two ex-officio members, the church pastor and the church treasurer. All decisions of the Endowment Committee are reviewed and approved by Session.

 In 2023, Endowment Fund monies were spent for a security system, renovations to the children’s ministry office and for new equipment for the playground. 

FINANCE COMMITTEE 

The Finance Committee, acting on behalf of the Session, administers St. Mark’s financial activities, including: (1) developing the annual church budget for Session approval, (2) coordinating the annual Fall Stewardship Campaign and other Financial campaigns, (3) planning and overseeing all offerings (including the special offerings), (4) performing financial review and overseeing reports, (5) managing St. Mark’s insurance, (6) providing general oversight of the Church Treasurer and (7) coordinating miscellaneous other corporate matters. 

St. Mark ended 2023 with a budget surplus primarily due to the generous support of our members. St. Mark also benefited from a one-time payroll tax credit in June. The Employee Retention Credit was provided to organizations, such as St. Mark, that were mandated to close during the pandemic and still retained their employees. 

For 2024, Session has approved a deficit budget. We have seen a trend in recent years that a lower percentage of households make formal pledges. This makes budget planning a challenge. As 2024 progresses, we will continue to carefully monitor our revenue and expenses. We will work with St. Mark Committee leadership and staff to ensure the church continues to move forward in a fiscally responsible manner with our programs and staffing. Staff received wage increases based on competitive salary reviews by the Personnel Committee and length of service. Percentage rates based on salary for staff pensions, life insurance and medical insurance for non-ordained staff remained the same. St. Mark will continue to cover 90% of the health insurance premium cost for employees and 50% for dependents.

The Finance Committee appreciates the faithful work of all our St. Mark staff. Special recognition and appreciation are extended to Mark Caplinger, who is continuing to serve as Church Treasurer, and to Tom Dolson, who provided the annual St. Mark financial review and report. We welcome Bob Lienemann as the 2024 Chair.

WAYS TO GIVE

As we all adjust to this new normal the Finance Committee is making a request of everyone to
maintain their level of giving to St. Mark. As a church we have agreed to continue paying all of our full-time staff. This includes our preschool teachers who are still sending out lessons and making connections with their students.

In addition, regular bills still arrive and need to be paid. We also want to support our mission partners. To that end it is important that we all commit to making our contributions. They can be mailed to the church or paid online. There will be a link provided at another time on how to set up online giving.

Please note that mailed checks will take longer to process than usual. If you wish for your donation to go to a specific area please note that on the check memo line. With all of this said please know at this time we are keeping up with our obligations but we want to be able to continue with all of our efforts. We appreciate your ongoing support of the work of our church.

https://www.discoverstmark.org/giving/make-an-on-line-donation-to-st-mark/