St. Stephen's Church

Agenda	Minutes
Vestry nominations	Report: Architectural Task force
Report: Communications Task Force	Report: Community Outreach
Report: Worship committee	Report: Church School
Rector's Report	Deacon's Report
Senior Warden's Report	Parish Records: Baptisms, Marriages, funerals, Transfers Out
Report: Parish statistics	Report: Trustees of the Endowment
Report: The Foundation Committee

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I. Annual meeting agenda
II. Minutes of the 2007 annual meeting
III. Vestry committee reports

Ryan Davis as Junior Warden, Glenn Kaler as his replacement on Vestry for the remaining two years

Tracy Ormsbee, Melinda Renken, and Barbara Wisnom to Vestry.

Susan Feyrer (1, year), Doreen May (2years) and K. Scott Kilbourn (3years) to the newly created Foundation Connnittee.

Norman Hofmann, J. Keith Nelson, and Dennis Wisnom as delegates to Diocesan Convention with David Carroll as the alternate.

Bruce Tatge moved that the slate be accepted as is. Keith Nelson seconded. Motion
carried by unanimous consent.

Father James mentioned the report from the Architectural Task Force was last Sunday. Barbara Wisnom asked if the meeting could be repeated on account that attendance was hindered by the ice storm. Susan Feyrer replied that a paper copy is available in the parish hall, will be in the February Messenger and is available online.

Tim Olsen asked if the Meal Site departure will cause any financial differences. Father James replied that no rent was received and there should be a saving in energy costs. Austin Spang seconded the idea that energy cost should be reduced.

It was asked that there be an explanation for the line item of Outreach for 2006 on the Budget Report.
Line item 4007 Plate-Outreach. No dollar amount is budgeted because it is an unknown; but what we get we give out.

Barbara Wisnom noted the proposed pledge budget is $187,500. Weare currently in at $185,149 with 112 pledges.

Susan Feyrer stated that the committee reviewed goals on January 8 for 2007. Thanks to Grant Jaquith, Nonnan Hoffinan, Marilyn Dare and Steve Ross who served on the committee.

Vestry has commissioned the Trustees to decide what to do with the money with regard to investing/saving the principle. The charter states specific goals..to invest the money.

Jack Feyrer compliments Dawn on her book-keeping. Dawn thanks those that came before her.

The Trustees met with several financial advisors and chose Fennimore Asset Management Group for $1,000,000.00 of the endowment. They chose them on the basis of their past returns, investment philosophy, and their socially conscious investment strategies. The Trustees are currently discussing whethet" to hire an independent financial advisor. The Trustees keep in constant communication with Vestry regarding the status of the endowment and their investment decisions.

Carole Merrill Mazurek asked how the parish can have a say in how the endowment will be spent. Susan Feyrer replied that the easiest way for the parish to have a say is the three parish members that they will vote in for the Foundation Committee. These three will recommend to Vestry how to disseminate the money to the poor and disenfranchised of the comlnunity.

The Trustees estimate that about $150,000.00 per year should be available from the endowment.

Mike DeBritz clarified that based on a four to five percent return on investment, $120,000.00 to $150,000.00 per year should be available.

Chris Jones asked that for every dollar we spend on ourselves that we spend a dollar on the needs of the poor. He drew attention to the Presiding Bishop's letter, seen on-line, that this is our mission.

Susan Feyrer stated that is currently the goal of the Vestry. Chris Jones asked that the Vestry publicly (officially) state that as their goal.

Dave Carroll stated whenever there is an exceptional need, for example this year $26,000.00 was needed for critical structural needs, the vestry must ask the Trustees for it. He agrees with Chris Jones, it is just a matter of practical considerations. Dave Carroll also stated the need for parishioners to continue their weekly contributions.

Barbara Wisnom asked if the $26,000.00 requested could be considered a loan. She also asked how the representatives are to know the parishioner's desires if they don't get input from the congregation? What is the vehicle for communication?

Jack Feyrer stated that the goal should be one dollar to the church, one dollar to the community, however mandating such a ration could put us in a ditch we don't want to be in. On the financial side, the money is only just being invested so that any money earned won't be available until the end of the year.

Father James noted that the Trustees have worked very hard to get this all together. Mike Bishop as well as the others, Dawn, etc., have put in a tremendous amount of work into arranging this. The Foundation is newer. They are at the beginning of the process. We just voted in the remainder of the committee and now they can get going.

Rosemarie Jaquith asked what the governing document for the Foundation group is. Stacy DeBritz replied that we y,rould like to do this as we did for the Trustees, a formal Charter.

Rosemarie Jaquith comments that we could post this so that people will know what the roles of the Foundation Committee members are.

Stacy DeBritz noted that people have passionate ideas of where the money should go in the community. She asks that parishioners write these ideas down and put them in the Communications book.

Carole Merrill Mazurek stated that she feels comfortable with coming together and getting ideas out. She agrees with Barbara Wisnom about the need for getting ideas across to the Foundation. Chris Jones remarked that we need more than just the Communication book to disseminate info!

Allison DeKanel questioned about the Budget Report Expense accounting for the budgeted Diocesan Assessment. Father James responded that it is $30,000. Vestry made a decision to pay to the Diocese only what percent the Diocese pays to the National Church. $7,000 was paid to Diocese, and $23,000 remains in Escrow. This $23,000 is what remains from previous years so that if this year the Bishop decides to pay the full assessment to the National Church we could then meet our obligation immediately. However next year's budget would have to increase by $23,000.

Marilyn Dare asked where did we get the $10,000 for legal fees two years ago? Father James responded that it was from the Escrow account. This was replaced.

Carole Merrill Mazurek noted that the Outreach Committee delivered bags of essentials to the Avenue Nursing Home.

It was asked who is taking food to SICM food pantry? Richey Woodzell answered that Rick Morin has been doing this. She noted that we need more volunteers. We also need another delegate for SICM. There is a new bulletin board in the parish hall devoted to SICM. Please read it over.

We are trying to make the new worship book user friendly. Our current booklet will be in use until. Lent. At that time we will go back to tile Prayer Book. A Comment was made that we haven't prayed for those executed lately. Deacon Pat noted that there haven't been any executions since November. Marilyn Dare commented that Devon Dare wanted to know why we haven't prayed for the women in jail. Deacon P at responded that we used to pray for all by name, now there are just too many.

Marilyn Causey asked why we haven't been singing the Irish Blessing. She'd like to see that come back again.

Eunice Chouffi requested that we verbally mention in whose memory the Altar flowers were donated. People want th'eir loved ones remembered and not everyone reads the
bulletin.

Jane Tatge would like to put library tidbits into the messenger. She wants people to know the dollar amount to replace books if they are lost. She asked for donations of books. These donations could be done commemorating birthdays, anniversaries etcetera.

Linda Emaelaf took this year off after 20 yrs of teaching. Diane Reed is covering for Dave Crates. Susan Townsend is taking tile year off after giving so much of her time. Father James noted that when the Children's Sennon ends a great number of children come back to the Parish Hall where there are not just arts and crafts but Biblical teaching as well.

If you have the opportunity to give towards Work Camp please do so!!! Super Bowl Subs
will be going on sale next week.

Jane Tatge commented that she greatly enjoys the suppers that the kids put on. She noted that you can't experience the kids through looking at a report, only tllfough watching them.

The messenger is always looking for new articles. He noted that they have a group to overview the layout. They are continually trying to make it better.

With regard to the proposal to hire a Christian Ed Coordinator, the Vestry decided that the position should be supported by parishioner's pledges. A search committee has been formed to fill the position.

The number of pledges is down but people have given more. Stewardship education should be a priority.

Fr. James noted that he spends his time with the Trustees, teaching, preaching and in worship.

He will attend a three day conference at the Trinity Institute next week as part of professional development.

Allison DeKanel asked if the increase in "members in good standing" is noted in the handout. Father James replied that it is under the "Baptized Member's" row.

Father James remarked that the newspaper contacts him for comment regarding the issues with the National Church. He is hopeful for the future of our diocese with the coming of Bishop Love. He said that there's still work to be done but he thinks we have modeled what it means to be a church. He feels very positive on the coming year, especially in regard to relations with the diocese.

The Vestry, Junior Warden, Foundation members and delegates to Diocesan Convention were commissioned.

Father James motioned to adjourn. All seconded the motion. The motion was carried.
The meeting was adjourned at 1: 15 p.m.

The Nominating Committee has presented the following slate of nominees to the Vestry:

The third architectural task force (whose members are Michael Bishop, Ryan Davis,
Tracy Ormsbee, Steve Ras, Melinda Renken, and Austin Spang) have held meetings and
conducted site tours with five local architectural firms and received bids from three of the
firms to complete a Feasibility Study for renovating/rebuilding St. Stephen's properties.
We are currently reviewing their bids and hope to make a recommendation to the Vestry
in early 2008.

In addition, the task force has been evaluating the condition of Reid House to determine
if asbestos is present. That information will be one of the factors in the Feasibility Study
to determine whether the house should repaired or removed.

A report was not submitted to the congregation last year. This is a brief summary of what
occurred in 2006.

The Communications Task Force was formed following the Annual Meeting in 2006. During 2006, we identified the many ways in which communication is provided to St. Stephen's members (Messenger, web site, Sunday bulletin, parish-wide emails & letters, Sunday morning announcements, etc). We also looked at the ways in which communication does, and does not work. We made a report to the Vestry in June, 2006. These recommendations for further action came out of that meeting:

The Committee at that time worked on finding ways to improve communications at St.
Stephen's.

At the beginning of2007, some members left the Task Force and others joined. A list of current members is at the end of this report.

1. Increase Leadership Visibility, so that members of the congregation will know "who's who" in the event they want information, or have a question or suggestion.

2. Increase congregational awareness of various programs & ministries at St. Stephen's

Are we leveraging the opportunities we have for keeping in touch with members of our congregation via a variety of electronic means?

Again, through promotion at the Faire, three new members volunteered to join the Communications Task Force.

Thanks to Chris Jones who took pictures, and to Stacy DeBritz & Melinda Renken who
did the art work, write up and mounting, we now have in the Parish Hall, pictures of the Parish Leadership: Vestry, Parish Council, Endowment Trustees and Foundation.
Our goal is to have a way for members of the congregation to connect a name with a face,
to know who the Leadersmp is, and to be able to connect directly with one or more of
them to ask questions, make suggestions, or observations.

We are meeting as a group on January 26,2008 to set our goals, action steps & timelines for this year.

The Community Outreach Committee had many blessed opportunities to help people in our community this year. The committee members included Carol Merrill-Mazurek, Bud Mazurek, Barbara Wisnom, Merideth Osta, Richey Woodzell, Marti Spang, Julie McDonald and myself. Thanks to the help of the committee members and the wonderful support of each of you, we have been able to put our Christian intentions into action in our community.

The committee's main focus is to help individuals rather than organizations. We recognize, that once established, the Foundation committee will will fund organizations in a more meaningful way than we can with our small budget. However, since the Foundation Committee has been put on hold temporarily, we did fund two organizations this season. This year began with a donation of $100 to Home furnishings. The donation was put towards the purchase of blankets, towels or pots and pans in need. Secondly, we were able to donate $500 to Schenectady Free Health Clinic. (The church gave $250 and it was matched by an anonymous donor.)

We also sponsored the annual Easter Food Drive for SICM, and a very successful school supply drive in September for Hamilton Hill Elementary School in Schenectady. In addition to the supplies, the school had asked for items they could use as incentives and the teachers were thrilled with what we found! We purchased three "treasure chests" full of rewards for the school children from a company called Smile Makers. The success of these efforts is due to a wonderful response from St. Stephen's parishioners. We just wish that you could all be with us as we make the deliveries... everyone is always so grateful.

Once again, a highlight of the Christmas season was the "Giving Tree" project. We had the privilege of delivering 39 joyful Christmas bags to elderly residents of The Avenue Nursing and Rehab Center who have no-one to remember them at Christmas. We also provided "Salon Services" for the residents who could use them. This is the second year we have helped The Avenue and their staff was overjoyed! The bags were handed out Christmas Eve!

As chairperson of this committee, I was pleased to arrange with assistance for four families with the committee's approval. We donated $500 to the family of a 14 year-old girl who had three organ transplants. (St. Stephen's donated $250 and it was matched anonymously.) The family traveled back and forth to Philadelphia for months while she recovered and we encouraged them to use the funds in any way that would help. Sadly, she died a few months after coming home. Another family is currently battling cancer for the second time in their 3 year-old son. The mother quit her job to be with her child and the family is suffering financially. St. Stephen's donated $250. We also had the opportunity to donate $100 to a freshman college student who needed some financial support while she secured a part time job. This girl grew up in foster care and had no family to call for help. And finally, we learned about a woman in her early forties who is battling colon cancer for the second time. She cannot work and her husband has been unable to keep his sales job full time because of his need to help his wife. St. Stephen's donated $500 ($250 of that was an anonymous match). Once again we encouraged them to use the money in any way that would make their lives easier. In cases like the above the gratitude that is expressed is always one of appreciation for the fact that someone cares. The money helps, but the act of our expression of caring is far more important.

We work with a small budget of about $2000 and yet the impact of our efforts seems so much greater. It is indeed a pleasure to be a part of this committee, as well as to be a member of St. Stephen's Church where generosity is inspiring.

The Worship Committee continues to look for ways to welcome newcomers and visitors to our worship, while maintaining the rich liturgical traditions of our Anglican heritage. We are reading and discussing Clayton Morris' Holy Hospitality as an aid to fulfilling the baptismal vows of all members of St. Stephen's. This year we recommended to the Vestry that new copies of the Book of Common Prayer be purchased to replace damaged old ones; they are now in use in the pews. We continue to alternate the use of worship booklets and the Book of Common Praver, season by season, in order to use the best resources available, both old and new. Our thanl(s go to all who serve in any capacity in our worship: Altar Guild, greeters, ushers, acolytes, musicians,lectors, chalicers, and especially to Kathy Miller and Paul de Kanel.

Deacon Pat

Thank you to the teachers. Their dedication to the children and youth made church school
possible.

Melinda Renken, Dawn Tonneau, and myself taught preschoolers & kindergarteners.
Dave Crates and Trudy North taught 1 sl tl1rough 3Td graders.
Allison deKanel and Peter Nelson taught 4th through 6th graders.
George Woodzell, Tracy Ormsbee, and Laura DeNofio taught 7th through 12th graders.
Richey Woodzell and Trudy North led the music for the children.
Stacy DeBritz led special art projects.
Karen Smith and Karen Holcombe have been substitutes and regular helpers in the classroom.

Episcopal Children's Curriculum was the primary learning source for the children from preschool age through 6th grade. The 7th_12th graders use material from a variety of sources at times focusing on current events and culture of our time.

Church school is and was held at various times on Sunday morning. 'Preschoolers and kindergarteners meet after the children's sermon during the I 0: 15am service. I sl-6th graders meet at 9:00am. 7th_lih graders meet after the 10: l5am service until 12:30pm.

We have enjoyed terrific attendance in 2007. There were approximately 30 families registered for Church School. An average <;>f8-l0 children attended each of the four classes every Sunday. We couldn't have church school without them either!

The younger children enjoyed many special projects or activities in 2007.
The calendar year started with Vicki Hoshko's Epiphany cakes that were enjoyed by all.
Vicki Hoshko taught the kids how to make palm crosses for Palm Sunday.
We had an evening program on Palm Sunday (3Td year) with 10 children in attendance and a Stations of the Cross for children on Good Friday (4th year) put together by Allison deKanel, Richey Woodzell and myself with approximately 20 participants.
The kids enjoyed an Easter egg hunt on Easter Sunday coordinated by Melinda Rel1ken.
acation Bible School was held at Union Presbyterian Church (3rd year) the last week in June.
In 2007, we had 12 volunteers and 12 participants from St. Stephen's (35 participants in all).
The children created a stole for Deacon Pat's 25th anniversary as deacon with the help of Stacy DeBritz and Karen Smith.
The Youth group and children presented a Chrisnnas pageant written by Ben Boese and Tom
Casale. Thank you to Laura DeNofio, Allison deKanel and Richey Woodzell for your support with the pageant.
Cheryl Syta organized Cllristmas caroling at Sunny View Rehabilitation Hospital. Over 30
parishioners of all ages came to sing to the patients there.

Outreach Projects have been ongoing in 2007. For the most part the children have assisted the Outreach Committee during church wide projects.

The children put together Heart to Heart kits for Church World Service during the season after Epiphany.

During the week of Bible School the children and their families raised over $200 that was donated to Heifer International, all through a penny jar fund drive.

Nursery care started again in 2007. Thank you Richey Woodzell who organized the volunteer
help and made sure we had care providers in the nursery each week January 07 through June 07. This fall we hired Pam Guthrie to serve regularly in the nursery. A different Youth Group member has helped Pam each week, raising money for work camp in the process. We had an average 3-4 children in the nursery each week. Thank you to the Griffin family for donating a changing table to the Nursery. Thank you to Pam for being there for our little ones each week.

The Youth Group was and is led by George Woodzell. Outside of. Sunday school, the youth group met approximately once a month for lock-ins. These activities were very well attended.
There was an average of 12 Youth Group members present for each lock-in. Thank you to George Woodzell who organized these events and to Jim Onnsbee who stayed the night with George and the group. The Youth Group participated in many fund raising projects in order to go to Work Camp in the summer.

They made Superbowl subs for the congregation the end of January.
They held a Mother's day brunch in May.
They sold "shares" that invested in Work Camp. The return rate was very positive.
They babysat at Congregation Gates of Heaven during the Jewish Higf1Holy days.
Chris Jones made jams and jellies. He sold them at church and the proceeds went to the Work Camp fund. Chris Jones, Mary Frances Hatfield, George Woodzell and Tom Miller made cards from photos they have taken. The proceeds from the card sales also went toward Work Camp. Thank you to this group for supporting the youth.

Finally the 9t11-12th graders (and some college students) were ready to go to work camp. 13 youth and 4 adults went to Weston, West Virginia for a week of serving, building, painting and growing in their faith.

During the program year of 2006-2007, Father James held a confirmation class using a new curriculum called "Confirm not Conform." Three participants completed the program. Thank
you to the adults that supported the group through mentoring the participants.

In November the Youth Group had the Work Camp "thank you" dinner tl1at was attended by approximately 50 parishioners.

That completes the year as I recall it. If you have questions or concerns, please let me know. I look forward to 2008. It is a privilege for me to be writing this and to be working at St. Stephen's. Thank you for the oppol1unity.

This is now the nineteenth occasion on which it is my responsibility as your Rector to reflect on the State of this parish. Once again that reflection has been my joy. As I prepared the parish statistics this year I became aware as never before of the impoliance of our community life here at Saint Stephen's.

First let me examine the area of our worship. For the most part, we have continued our innovative worship which began many years ago. Dr. Tim Olsen, our Music Director, brought in his Union College Jazz Ensemble for two "Jazz Sundays". In addition to the many small liturgical innovations led by our worship committee, this year we continued to use one of the authorized Alternative Eucharistic Prayers. As far as I know we are the only church in the Diocese of Albany which is using the Alternative liturgy. We also continued with the traditional Rite One Eucharist during Lent. This balance of innovation and tradition in our worship is a mark of St. Stephen's congregation.

Evangelism should always be of the highest priority for Christians because Christianity is about sharing what we have experienced with Christ and in his church. During the past year we have welcomed new families and attempted to integrate all of our members into the life of the parish. I especially want to thank Chris Jones for keeping up to date one of the best web sites I have seen for any church in the area.

Our service committee continues to become stronger, with new members and new projects. This year we gave hundreds of presents to the residents of a nursing home and we provided stamped, blank Christmas cards for ALL prisoners in the jail! We gave Easter food baskets and back packs filled with brand new school supplies to those who would not have had them otherwise. Also, in a year dominated by natural disasters and our nation in war, our congregants have given thousands of dollars to those in need. As individual Christians, I know that a large number of our members do a great deal of individual volunteer work in the community. I especially want to thank Cynde Schwrtz and her committee for all the work they have done.

The education program at St. Stephen's has continued to take into account diverse understandings of issues within and without the church. Ambiguity and difference has been not only tolerated but accepted, as long as issues and questions were probed and insights gained. This past year in our educational offerings for all ages we have continued to present the
questions, challenges, and understandings of the present without demanding a narrow orthodoxy. This has occurred within classrooms on Sunday morning as well as within experiences such as workcamp for our youth, fellowship activities with our Sunday School, and simply watching a movie together and discussing it. I give thanks to the congregation for pledging money to hire Laura Davis, who has conducted a sterling ministry as Director of Christian Education. I also thank Richey and George Woodzell, Stacy DeBritz and all the wonderful Sunday School teachers and for Deacon Pat Jones who has lead a variety of adult education classes.

Another area of congregational life which seems so natural for this church is pastoral care -
caring for one another. This includes not only the distribution of altar flowers to the home bound and to those in the hospital, but also birthday and anniversary cards, and dinners delivered at home for the ill. New members have told me that one of the reasons they chose to be a part of St. Stephen's is how the congregation demonstrates care for one another.

A major accomplishment of the Parish Council was working with the vestry to form a parish
Foundation to solicit funding requests from non-profit groups in Schenectady County and to
distribute part of the Endowment earnings to needy groups. As you can read in their report, they have worked diligently in creating procedures for this to happen.

Finally, all of these parish programs could not be possible without the work of our vestry.
Keeping the buildings and grounds in good order, and managing our finances well are essential to our life together. The vestries have served the congregation well these past nineteen years. They have been responsible for remodeling and rebuilding every' room of the parish buildings. New heating systems, new roofs, new buildings! And the Architectural Taskforce has been very busy looking at architects to even further meet our building needs. The parish finances have been consolidated, simplified and computerized. Perhaps the most work this past year has been in conducting and implementing an detailed inspection of all our buildings. I especially give thanks to Susan Feyer, our out-going senior warden for the many years she has served in the vestry.

Saint Stephens is a vital and growing parish. The reason for this is really quite simple. People have a tremendous need to know God, and to know God's'son, .Tesus Christ. In this place, Christ is known and worshiped. There can be no doubt that, remaining true to Christ as guide of all that we do as a community of Christians, the best is yet to come.

I give thanks for all of you who in life, and, yes, in death, are evangelists, bearers of the Good News. At your best, you are the Body of Christ, the presence of the incarnate one in this place.

The ministry of a deacon is "to represent Christ and his Church as a servant of those in need; and to assist.. .in the proclamation of the Gospel and the administration of the sacraments." (BCP 1987). In 2007 I continued my ministry in Schenectady County Correctional Facility: visiting women inmates each week, providing undies, commissary funds (for toiletries, writing supplies, and snacks), greeting cards, Bibles and "Forward Day by Day" devotional materials to them. Since the position of Inmate Services Coordinator has been discontinued at the jail, I am also asked to make more phone calls, gather information on rehabilitation sites and social services. Even with the able assistance of Robyn Stewart, there is more than I can do. In addition, I provide both funds and transportation (over 3100 miles in 2007) for former inmates, to enable them to keep appointments, buy food, obtain social services, pick up prescriptions, tal(e children to and from school, etc.

In the parish I lead Bible studies from time to time, serve as Chair of the Worship Committee, and participate in leading worship on a regular basis. Last winter I distributed over 100 coats from St. Stephen's to various agencies in Schenectady, with the help of parishioners; already this fall coats were being contributed (see the "Second Coats" section of the Nave Extension closet), and we have begun delivering them.

St. Stephen's supports this ministry by a budget appropriation for Jail Ministry, and by contributions from individuals to the Clergy Discretionary Flind, which is shared equally by Father James and me. My thanks to all who contribute so generously, in so many ways! In December we had a beautiful celebration of our 25 years of life and ministry together: from the night of my ordination to the present moment I have truly known that I am "at home with the holy" in this congregation. Thank you.

Senior Warden's Report

Although the Vestry did not ignore the unrest that has haunted our Diocese and National Church since 2003, our focus in 2007 celebrated the blessings of St. Stephen's as we directed much of our time and talent into our parish needs and those of our immediate community .

The Vestry was actively involved in overseeing the newly formed Endowment and Foundation Committees as they successfully undertook the daunting task of getting their committees up and running smoothly. We also monitored the progress of our parish's communication and architectural task forces as they progressed toward the goals our parish has set for them. We appreciate the effort all members of these groups put into these diverse committees/taskforces, all with the similar objective of strengthening our parish for current and future generations. (For more information, please see annual reports of these committees/task forces.)

Another highlight of the year was the hiring of Laura Davis as our Christian Education Director. One needs to look no further than the excited and eager faces of our youth and
teachers to see proof of the enthusiasm and dedication she brings to our church.

In addition, I would like to recognize and thank the out-going members of Vestry -Dave Caruso, Stacy DeB ritz, and Paul de Kanel for the countless hours they h},ve willingly given to our church.

As in the past, St. Stephen's continues to be the vibrant, caring parish it is because of you. Thank you for what you have brought to our parish this past year. Whether it was flipping pancakes at the pancake supper, putting down mulch and pulling weeds, preparing a coffee hour, attending an adult education class, caroling at Sunnyview, writing or performing in our Christmas pageant, setting up for Deacon Pat's anniversary brunch, running the shop on a Sunday morning, checking in library books, ushering, lecturing, supporting our Giving Tree, maintaining our property, welcoming a new member, comforting an old member, or hosting a Foyer group, we couldn't be who we are without you.

Brooks Aidan Brennan
Cadence Claire Brennan
Chloe Marie Bristol
Greyson Terrell Buell
Jake Paulus Collen
Alyssa Marie Koreman
Alannah Jade Mykoo
Claire Elizabeth Syta

Dennis L. Moss
Helen Oyer
John H. Peatling ..
Alice R. Petter
W. David Stevens
Mary Jane Strong

Report: Trustees of the Endowment

· As reported last year, approximately a third of the Endowment has been turned over to Fenimore Asset Management in Cobleskill, specializing in small and mid-cap value funds.

· Since then, most of the balance has been turned over to HFR investments of Niskayuna. HFR specializes in handling funds across the market size spectrum aimed at being secure while offering the prospect of achieving good returns in a rising market. HFR’s philosophy is quite similar to that of Fenimore, but generally in a different market sector.

· We have retained enough liquidity to be able to meet the church’s perceived needs for perhaps 2 or 3 years without broaching the invested funds.

· In the past year (11/1/06 – 10/31/07) the Endowment’s market value rose from $3.059 million to $3.152 million.

· In addition to the above increase, during the year $59,000 was disbursed to the Vestry, earmarked for rectory improvements and for charitable giving.

· The committee has retained Nelson Beebe, CPA of Ballston Lake as auditor. He has been instrumental in working with treasurer Dawn Tonneau to set up accounting systems and procedures. He also conducts an annual audit of the Endowment affairs.

· Besides holding the unrestricted assets of the Endowment, the trustees also manage the assets of the Altar Guild, Education and Music funds. These funds are kept in a money fund to permit more ready availability.

· The Trustees have created an Investment Policy Statement that serves as a guideline to our investment managers. We have yet to put together an Operations Manual to outline the conduct of the Endowment’s everyday affairs.

As reported last year, your Trustees continue to work to provide good stewardship of the church’s endowment. We have created a fairly ambitious portfolio which is aimed at producing good long term returns, though we are subject to market volatility, and the present investment environment is of some concern. We have strict proscriptions in our IPS against high risk investments, although the present sub-prime mortgage crisis is cutting a surprisingly wide swath in the stock markets around the world.

A huge debt of thanks is due to all my fellow Trustees for their commitment, dedication and common sense, particularly treasurer Dawn Tonneau and secretary Susan Townsend.

The Foundation Committee was formed early in 2007 as a vehicle for disbursing funds to needy community organizations through a formal request for proposal process, which would include an evaluation procedure by the committee, with its recommendations forwarded to the Vestry for approval.

This committee met a total of eight times over the course of the year to develop a mission statement, the process for application for funding, the criteria to met by the committee to qualify for consideration, an evaluation process and a time line to implement the program.

A timeline was developed by the committee in May 2007, in order to fully implement the program beginning in 2008. This information, along with a complete package covering the entire process and including a Fact Sheet for the Vestry’s use in evaluating the Foundation Committee’s recommendations was presented to the Vestry at the September meeting. The committee concluded that due diligence had been adequately performed by the committee and, to best of this writer’s recollection, the Vestry concurred. However, questions were raised concerning the Church’s by-laws that specifically spoke to disbursement of church funds. As of this writing, no further action has been taken – the Foundation Committee is hopeful that the by-laws issue can be settled so that St. Stephens is able to share some its good fortune with those in our community who are in need.

Budd Mazurek – Co-Chair

Dave Carroll – Co-Chair
Susan Feyrer
Scott Kilbourn
Doreen May
Carole Merrill-Mazurek
Cyndi Schwartz

Editor's note: Further financial information is available to members of St. Stephen's Church

	1997	1998	1999	2000	2001	2002	2003	2004	2005	2006	2007
Baptized members	239	253	231	278	276	251	249	258	243	250
Active supporters	107	73	117	91	113	22	46	61	48	46	59
Church School
Population C
Baptisms	9	4	5	6	8	5	4	4	9	9	8
Confirmations	0	4	0	5	4	12	0	0	0	3	0
Transfers in	7	8	20	7	8	6	6	12	6	10	0
Transfers out	8	5	4	10	9	8	10	3	3	6	1
Reactivations	0	15	3	0	0	0	0	0	3	5	1
Deaths	2	3	4	4	10	6	2	5	7	3	5
Worship Attendance
Average Sunday	137	140	145	167	175	164	157	144	148	142	132
Worship Services
Holy communion	171	171	167	162	227	213	186	146	169	187	163
Homebound	35	42	62	39	70	56	35	35	5	23	21
Marriages	2	5	3	3	6	3	5	2	7	2	1
Burials	4	3	4	4	11	6	2	6	6	4	6
Daily Offices	123	91	127	141	118	55	104	237	227	225	187
Stewardship
Number of pledges	121	127	127	133	147	142	130	126	113	112	100
Amount Pledged	$132k	$133k	$147k	$168k	$169k	$168k	$178k	$186k	$179k	$185k	$177k

Budget Income	$170k	$170k	$178k	$193k	$235k	$243k	$245k	$214k	$214k	$210k	$221k
Actual Income	$169k	$173k	$183k	$204k	$231k	$226k	$223k	$198k	$222k	$213k	$191k