Frequently asked questions regarding church finances during this period.
Washington policy analyst Daniel Clifton and Glenmede’s Thom Melcher discuss policy solutions for the pandemic and implications for the 2020 election and financial markets.
Although the economic outlook remains uncertain, baseline forecasts show the U.S. economy is likely to avoid a deep recession. . . .
At this time, we are seeing a public health crisis caused by a pandemic — not a financial crisis threatening the economy’s foundations. As a result, we expect the effects should be transitory with an economic and market recovery starting in the third or fourth quarter. History shows that in times like these it remains prudent to stay the course and ride out the volatility, so when markets do recover investors begin to recover what was lost.
—Adam Conish, CFA | Managing Director Endowments and Foundations | Glenmede
Yes, with the understanding that as much of this work as can be done electronically is being done offsite. Phyllis, Tanya, and Manny will continue processing financial transactions and providing reports as usual.
Yes, that process remains unchanged. Please contact Tanya Rainey as usual via email to process withdrawal requests, being sure to include documentation showing vestry/mission committee authorization for the withdrawal, also as usual.
Certainly anyone working under a Letter of Agreement or an employment contract should continue to be paid in accordance with the terms of their agreement. Moreover, the behind-the-scenes aspects of what your staff does may very well become increasingly important. They may be coping with schedule changes, increased communications, creative adaptations to worship, formation and outreach, and dealing with more rigorous building cleaning requirements. Pastoral care and spiritual support of your congregation during this period of time may also be more demanding. They are a critical investment in the long-term continuity of your ministry.
Contact Canon Phyllis Jones immediately to discuss options for relief and/or temporary support.
We will certainly understand if your monthly Marks of Mission Giving payment needs to be delayed due to the short-term financial impact of the suspension of public worship and public gatherings in your buildings. As we get nearer to year-end, if you determine that the overall impact has been severe enough to impair your ability to fulfill your pledge, please contact Canon Phyllis Jones to discuss your situation.