Endowment Board Minutes January 2017

Sacred Heart Larned Endowment Board

Meeting Minutes 01-22-2017

The board met Sunday, January 22, 2017 in the Parish Center.

Members present: 

• Father Warren Stecklein

• Dana Bauer, President

• Ray Moeder, Treasurer

• Judy Damm, Secretary

• Stan Durler

• Brian Hammeke

• Troy Langdon

 Members absent: 

• Cindy Colglazier

The meeting was opened in prayer by Father Warren.

Lloyd Davis from Edward Jones made a presentation to the board about the Sacred Heart Endowment investments.  He handed out summary information on the account information on the investments.  Mr. Davis provided information about our investment philosophy and the portfolio volatility.  Mr. Davis concluded his presentation and the regular board meeting was held.

Minutes of the previous meeting were read.  Motion was made by Ray and seconded by Troy to approve the minutes.  The vote was approved unanimously. 

Treasurer’s Report:  Ray presented a statement of cash flow for 07/01/2016 to 12/31/2016.  Balance of the fund was $416,545.62 as of 12/31/16.  Motion by Troy and seconded by Stan to approve the report as presented.  Motion was approved unanimously.

Old Business: 

Ray presented a rough draft of the handout that will be sent to parishioners that explains the purpose of the Endowment Board.  Discussion followed and it was suggested that we include past achievements and future goals.  Anyone that would like to supply Ray with information for this should email the suggestions by 2/15/2017.

New Business: 

There was a lengthy discussion about the Endowment investments.  The board made the decision to continue with the moderate investment strategy of 65% equity and 35% fixed income and cash.

Ray made a motion to leave the money market investments as is until the next meeting.  Brian seconded the motion.  Motion was approved unanimously.   

 It was suggested that an Endowment Board member meet with Sister Rebecca from the Adult Religious Formation committee and Jim Mitchell from the PSR committee to get an idea of what their funding needs are and how we would fund it.  Troy volunteered to speak with them and get the information for our next meeting. 

Next meeting:  4/23/2017 at 11:45am

Judy made a motion to adjourn the meeting. 

Meeting was adjourned.

 Respectfully submitted,

Judy Damm

Secretary