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For the Year 2004
All changes to this report since December 2000 are printed in italic type.
An agency fund established in 1948 for the general support of Trinity Parish. Formerly held entirely in the Income Fund, at the end of March 1997 these holdings were divided between the Income and Stock Funds as if they were endowment funds, and the Trustees were instructed to rebalance these funds whenever endowment funds are rebalanced. Established with the proceeds of the sale, after the 1944 merger with Trinity Church, of property belonging to St. John the Evangelist Church. It is named for the original donor of the property.
Initial Investment: $7000.00.
An agency fund established 1983 to help pay pension premiums for clergy in Trinity Parish. Formerly held entirely in the Income Fund, at the end of March 1997 these holdings were divided between the Income and Stock Funds as if they were endowment funds, and the Trustees were instructed to rebalance these funds whenever endowment funds are rebalanced. Created in 1916 as a memorial to the parents of William N. Kimball, Eleanor B. Johnson, Martha G. Kimball with a gift of $3000. The William N. Kimball Trust added $5000 and, in 1982, the estate of Eleanor Kimball Morse added a further $5000.
Initial Investment: $13000.00.
A trustee fund established 1927 for the general support of Trinity Church, Haverhill. Begun in 1927 with a bequest of $5000 from the estate of Mary S. Hersey it was augmented on 9 April 1940 with a further $6417.66, along with $31.76 in accumulated income, upon the death of Arthur S. Hersey, from a trust established for his benefit by Mary S. Hersey.
Initial Investment: $5000 (1917) + $6449.42 (1940).
A trustee fund established 1916 for the general support of St. John the Evangelist, Haverhill and paid to Trinity Church, Haverhill as its successor since 1944. "On November 26, 1917 the Treasurer of the Church of Saint John the Evangelist, Haverhill turned over to the Trustees of Donations $2500 in order to obtain title to a former Church lot. This amount was to be invested and the income paid to the Church."
Initial Investment: $2500.
A trustee fund established in 1927 for the general support of St. John the Evangelist Church, Haverhill and paid to Trinity Church, Haverhill as its successor since 1944. Variously called "The Book of Remembrance Fund" and "The Memorial Fund (Endowment) of Saint John the Evangelist, Haverhill" this fund was transferred to the Bishop and Trustees of the Protestant Episcopal Church in the Diocese of Massachusetts of February 25, 1944.
Initial Investment: $1396.50
A trustee fund established in 1946 for the general support of Trinity Church, Haverhill. The residue of a living trust established on September 7, 1937 by Helen S. Gilman of Haverhill for the benefit of Emily Richardson of Haverhill during her life.
Initial Investment: $10,924.98
A trustee fund established in 1941 for the upkeep, repair, and insurance of the organ in Trinity Church or, if there shall be no such organ, then for the general purposes of Trinity Church, Haverhill. Given under the terms of the will of J. Otis Wardwell to provide funds for the maintenance, repair and insuring of the organ he gave to Trinity Church as a memorial to his late wife, Mary Porter Wardwell.
Initial Investment: $10,000
A trustee fund established in 1950 for the general support of Trinity Church, Haverhill. Originally established for the benefit of Saint John the Evangelist Church, Haverhill, the Wingate Trust was transferred to the Bishop and Trustees of the Protestant Episcopal Church in the Diocese of Massachusetts on May 15, 1950. The income from this fund is paid to Trinity Church as successor.
Initial Investment: $16,941.50
A trustee fund established in 1964 for the support of Saint Elizabeth's Guild, Trinity Church, Haverhill. From the estate of Sally B. Wright.
Initial Investment: $500.00
A trustee fund established in October 26, 1990 and designated by the Vestry for the purchase, restoration and maintenance of the parish's pipe organ. From the estate of Helen F. Whitcomb
Initial Investment: $105,000
An Agency Fund established in July 1994 with monies set aside over the years for modifications, major maintenance, and improvements to the Church.
Dividends of this fund are to be reinvested.
All balances are under the control of the Vestry and available for designated purposes.
At the end of March 1997 this fund was liquidated in its entirety and the proceeds were used to create the following agency funds. In all cases the monies are divided between the Income and Stock Funds as if they were endowment funds and the Trustees have been instructed to rebalance these funds whenever endowment funds are rebalanced. In all cases both principal and dividends are available to the parish at the direction of the Vestry for their designated purposes or other purposes. Dividends are reinvested quarterly.
with 75.6% of the proceeds. These monies have been given for the renovation of the interior of Trinity Church's worship space. At the end of March 1997 $270.51, which had accumulated in other parish accounts, was added to this fund.
with 24.4% of the proceeds. These monies were raised by the Parish Fair Committee over the years and set aside to the improvement of the Church's physical plant. At the end of March 1997 $12155.74, which had accumulated in other parish accounts, was added to this fund.
An Agency Fund established with monies from various memorial funds.
Dividends are to paid to the parish quarterly and held for their designated purposes.
At the end of March 1997 this fund was liquidated in its entirety and the proceeds were used to create the following agency funds. In all cases the monies are divided between the Income and Stock Funds as if they were endowment funds and the Trustees have been instructed to rebalance these funds whenever endowment funds are rebalanced. In all cases both principal and dividends are available to the parish at the direction of the Vestry for the designated or other purposes. Dividends are reinvested quarterly.
with 11.6% of the proceeds. This fund is a repository for memorial gifts received by the parish pending their disbursement. At the end of March 1997 $3663.10, which had accumulated in other parish accounts, was added to this fund.
with 27.7% of the proceeds. These monies were given as a memorial for Will Bergeron and the dividends have been designated to continue Mr Bergeron's ministry with the sick and shut in.
with 9.7% of the proceeds. Begun with a gift of $1000.00 from Alice Brooks the dividends have been designated to purchase books and other published materials for use in the parish's library or other ministries. At the end of March 1997 $220.00, which had accumulated in other parish accounts, was added to this fund. At the end of September 1997 a further $10,000.00 dollars, an otherwise unrestricted bequest from the estate of Alice Brooks, was added to this fund.
with 18.3% of the proceeds. Begun with memorials given for members of the Caswell family the dividends have been designated to purchase Vestry badges and insignias. At the end of March 1997 $188.00, which had accumulated in other parish accounts, was added to this fund.
with 21.7% of the proceeds. Begun with gifts in memory of Isabella and Ewan Glass the dividends have been designated for the purchase of music, choir vestments, or other items related to the ministry of music in the parish. At the end of March 1997 $258.10, which had accumulated in other parish accounts, was added to this fund.
with 10% of the proceeds. Begun with a gift from Joan Brawley in memory of her grandmother, the dividends have been designated for the purchase of crosses to be presented to baptisands at their christenings.
with 1% of the proceeds. Begin with gifts in memory of James Partain the dividends have been designated for the purchase of acolyte awards. At the end of March 1997 $112.51, which had accumulated in other parish accounts, was added to this fund.
An Agency Fund established in 1995 with the following provisions:
Initial investment: $15000.00
An agency fund established by the Vestry through the "set-aside," since 1994, of a portion of the funds formerly used to provide canonically mandated health insurance coverage for our Rector (provided since 1994 through Linda Crapsey's employment at considerably reduced cost to the parish). These funds are held with the Diocesan Investment Trust with the proceeds allowed to accumulate in the fund. It is the Vestry's plan to add to the principal of this fund over a period of several years. The income and principal are available for future health insurance expenses of the parish, or for such other purposes as Vestry may deem prudent. At the end of March 1997 the Trustees were instructed to reallocate these monies between the Income and Stock Funds as if they were endowment funds and to rebalance these funds whenever Endowment Funds are rebalanced. Also at the end of March 1997 $8104.29, which had accumulated in other parish accounts, was added to this fund.
An agency fund composed of monies received for safe-keeping from the Treasurer of Saint Elizabeth's Guild when that organization appeared to be becoming dormant in 1995. At the end of March 1997 the Trustees were instructed to reallocate these monies between the Income and Stock Funds as if they were endowment funds and to rebalance these funds whenever Endowment Funds are rebalanced. The principal and income are available for the purposes traditionally served by the Guild (the provision, care, replacement, and refurbishing of vestments, altar ware, and appointments used in public worship) or for such other purpose as future Vestries may direct.
Initial investment: $8269.35
An Agency Fund composed of the surplus income from the Wardwell Fund, designated gifts from individuals and parish organizations, and such other funds as the Vestry may from time to time allocate. At the end of March 1997 the Trustees were instructed to reallocate these monies between the Income and Stock Funds as if they were endowment funds and to rebalance these funds whenever Endowment Funds are rebalanced. Income is normally allowed to accumulate within the fund. Both the principal and interest are available for the care, refurbishing, re- leathering, or replacement of the parish's pipe organ. Should there be no pipe organ, these funds may be used, in the discretion of the Vestry, for the maintenance, preservation, or replacement of the parish's buildings.
An agency fund established in 1997 for the general support of Trinity Parish. These holdings are divided between the Income and Stock Funds as if they were endowment funds, and the Trustees were instructed to rebalance these funds whenever endowment funds are rebalanced.
Origin: Established with the a bequest of $10,000.00 and $950.00 of accumulated interest from the estate of Margaret Allen, PhD, late of Bradford, Mass and Portland Me, and a longtime active member of the parish.
Initial Investment: $10950.00
An Agency Fund established in 1996 with the net proceeds of the sale of the former parish Rectory at 16 Sheridan Street, Haverhill. The principal is divided between the Income and Stock Funds as if it were endowment. Income from this fund is available to help defray the proportion of the Rector's cash compensation associated with housing (presently 30%, though this proportion is adjusted from time to time by Diocesan Convention). The principal in this fund may be used to reenter the housing market through the purchase of another rectory or as part of some other financial arrangement (which must be approved by the Vestry and Diocesan authorities) designed to allow a future Rector to obtain a home.
Initial investment: $100182.45
An Agency Fund established by the Vestry at the end of September 1997. These holdings are divided between the Income and Stock Funds as if they were endowment funds, and the Trustees were instructed to rebalance these funds whenever endowment funds are rebalanced. The income from this fund is to be given away annually, at the direction of the Vestry, in the form of a grant or grants to worthy, non-profit causes within the City of Haverhill.
Origin: Established with a portion of the proceeds of the otherwise unrestricted bequest of Marion Hayes, late of Arlington Street, Haverhill, and a longtime member of the parish.
Initial Investment: $115,000.00
An Agency Fund established by the Vestry during 1998 at the suggestion of several parishioners. These holdings are divided between the Income and Stock Funds as if they were endowment funds, and the Trustees were instructed to rebalance these funds whenever endowment funds are rebalanced. Income from the fund will be reinvested quarterly until such time as it has grown sufficiently to enable to parish to offer small annual scholarships to young members of the congregation who are pursuing post-high school education.
Initial investment: $1035.00
An Agency Fund established in 2000 with the following provisions:
Initial investment: $2500.00
An Agency Fund established by the Vestry during 2001. These holdings are divided between the Income and Stock Funds as if they were endowment funds, income is to be reinvested quarterly, and the Trustees were instructed to rebalance these funds whenever endowment funds are rebalanced. Income from the fund will be reinvested quarterly until such time as all or any portion of the fund is needed to defer additional parish expenses associated with a clergy sabbatical leave. The monies in this fund were created by an annual "set-aside" (usually $1000 per year) and were formerly maintained in the "Holding Account" which was closed during 2001.
Initial Investment: $11000.00
Copyright © 1998- Trinity Episcopal Church
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