Trustees

The Episcopal Church in Minnesota Trustees oversee the financial assets, including real estate, investments, loan funds, and planned giving. They were incorporated in 1885.

President

The Rt. Rev. Brian N. Prior,
brian.p@episcopalmn.org

Meeting Summaries

Executive Summary of the October 13, 2012 meeting:

• Chancellor met with Trustees to urge them to review Trustee canons before July 4, 2013
• Motion of gratitude for the service of James Sanigular and Paul Stephenson for their work as Trustees.  Welcomed new Trustees, Mr. Peter Davis and Rev. John Dwyer.
• Trustee officers were elected: Vice Chair, Rich Simons, Secretary, Newell Searle and Treasurer, Chris Winter.
• 2012 Goals review and Committee Reports for Investment, Real Estate and Loan, and Finance and Audit.
• Trustees were assigned to the following committees: Real Estate and Loan – Rich Simons, Peter Dwyer, Newell Searle, David Olson, Mary Batinich and Dan White. Finance and Audit – Peter Davis, John Dwyer and Kay Kramer. Investment – David Neal, Kay Kramer and John Dwyer

Resolutions:
No resolutions were acted upon.

Executive Summary of the March 10, 2012 meeting:

• Bishop Prior reported that the Finance and Real Estate committees had been very helpful in untangling the Church’s financial management and were standardizing processes.
• Investment Committee reported that the PIF growth for 2011 was up 6.7% against a benchmark of 6.3% with enough liquidity for a 4% drawn-down.
• Finance & Audit Committee reported that as of March 10, 2012, 64% of the parochial reports had been received; the due date was March 1.  The MMS is 84% of the Church’s income.
• Real Estate & Loan Committeeis developing a model for conveying ownership of certain properties with a right to use easement.

Resolutions:

• Christ Church Frontenac.  Approved the contract that permits Christ Church to restore the stained glass windows and other improvements.
• Emnegahbowh House.  Tabled a decision on improving and repairing the deck pending a long-term use plan from the Division of Indian Work and further information about construction costs.
• Cass Lake Camp Road.  Approved a resolution to sell five acres of land to Cass County for $51,000 needed for the reconstruction of the road.

Executive Summary of December 10, 2011 meeting

The Trustees:

• Elected officers by unanimous vote; Bishop Prior presided
• Reviewed the goals set for 2011
• Approved action that the submission of vestry minutes weren’t necessary when a PIF withdraw request bore an authorized signature. A PIF withdrawal other than a quarterly withdrawal would require two authorized signers effective January 2012.
• Considered the status of mission properties.
• Approved action to authorize the following to sign documents on its behalf: Karen Olson, Rev. Tim Hodapp, Rt. Rev. Brian Prior, Chris Winter, and Paul Stephenson
• Approved a resolution thanking Harry Haynesworth for his long and distinguished service as a Trustee.

Executive Summary of the March 10, 2012 meeting:

• Bishop Prior reported that the Finance and Real Estate committees had been very helpful in untangling the Church’s financial management and were standardizing processes.
• Investment Committee reported that the PIF growth for 2011 was up 6.7% against a benchmark of 6.3% with enough liquidity for a 4% drawn-down.
• Finance & Audit Committee reported that as of March 10, 2012, 64% of the parochial reports had been received; the due date was March 1.  The MMS is 84% of the Church’s income.
• Real Estate & Loan Committeeis developing a model for conveying ownership of certain properties with a right to use easement.

Resolutions:

• Christ Church Frontenac.  Approved the contract that permits Christ Church to restore the stained glass windows and other improvements.
• Emnegahbowh House.  Tabled a decision on improving and repairing the deck pending a long-term use plan from the Division of Indian Work and further information about construction costs.
• Cass Lake Camp Road.  Approved a resolution to sell five acres of land to Cass County for $51,000 needed for the reconstruction of the road.

Executive Summary of September 10, 2011 meeting

The Trustees:

• Met with Susan Vick from the Church Investment Group
• Approved a resolution regarding the sale of the former St. John’s, Hutchinson property
• Approved a resolution on behalf of St. Bartholomew’s, Bemidji
• Approved the 2012 budget subject to revision to include funds from 2011 that are held on reserve for mission properties
• Approved the 2010 audited financial statements
• Approved hiring an outside consulting firm to do an assessment on 1730 Clifton Place for the purpose of reducing operating expenses

Executive Summary of June 4, 2011 meeting

The Trustees:

• Reviewed and discussed the Trustees 2011 Goals and status of Cass Lake Episcopal Camp
• Approved a resolution regarding the distribution of a portion of the Holy Cross, Dundas sale proceeds.
• Reviewed a draft of the new PIF brochure

Executive Summary of March 12, 2011, meeting

The Trustees:

• Unanimously approved the Consent Agenda which included the extension of the contract for deed with Household of Faith
• Reviewed and discussed the Trustees 2011 Goals and the promotional materials and fee structure for the Pooled Investment Fund
• Approved the 2011 Disbursement Approval Authority list
• Reviewed the year-to-date financial reports

Executive Summary of January 11, 2011, meeting

The Trustees:

• Heard reports from Bishop Prior, Diocesan Council, and the Investment and Real Estate Committees
• Elected new officers for 2011
• Confirmed 2011 committee chairs and membership
• Confirmed meeting dates for the remainder of 2011
• Reviewed and discussed the Real Estate Committee Spreadsheet that has been prepared by Rich Simons
• Approved the 2011 Budget with the understanding that it is subject to future adjustment
• Authorized the Real Estate/Loan Committee to review proposal for new outside signage for 1730 Clifton Place and proceed as it determines advisable
• Formally approved the sale of the White Earth Guild Hall for the record

(* indicates second term)