New York Quarterly Meeting, Religious Society of Friends
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New York Quarterly Meeting, Religious Society of Friends Meeting for Worship with a Concern for Business Brooklyn Meetinghouse, Brooklyn, NY First month, twentieth day, 2019 Time: 11am-12pm: all are welcome to join Brooklyn Meeting for worship 12-1pm: potluck and fellowship (please bring something if so moved), childcare provided. 1 pm: Quarterly Meeting !!In case of a snowstorm, please watch the NYCQuakers.org website for a notification *Reports received prior to the Meeting will be posted to the website during the business day they are received. *Please bring two signed copies of your report for the clerks table. Any corrected final reports can be emailed to the clerk and the assistant clerk immediately after the meeting. *Any announcements to be made at the QM by the clerk should be submitted either prior to the meeting by email or given to the clerk in written form. ADVANCE AGENDA *No further reports will be scheduled going forward. *The following order of agenda items will be changed prior to the Meeting. Date change for October 2019 NYQM from October 18th to October 27th. Brooklyn Meeting requests this as the only dates available for their fall retreat falls on the weekend of October 18-19th. Audit and Budget proposed budget Friends in the City Friends Seminary Annual Report Mary McDowell report M&C minute asking to put Concerning Quaker Life Working Group under their care M&C report asking the meeting to consider a Jubilee Year and establishing a process for discernment Nominating Report and consenus slate Relief Committee report Brooklyn Monthly Meeting Report Fifteenth Street Monthly Meeting Flushing Monthly Meeting Report Manhattan Monthly Meeting Report – no report Morningside Monthly Meeting Report Staten Island Meeting FOR FUTURE REFERENCE: 2019 NYQM dates: January 20th: Brooklyn Friends Meeting, Brooklyn April 21st: Fifteenth Street Meeting, Manhattan July 13th: Quaker Cemetery, Prospect Park, Brooklyn in case of rain, meet at Brooklyn Friends Meeting October 27th: Morningside Meeting, Riverside Church, Manhattan 2020 NYQM dates: January 19th: Brooklyn Friends Meetinghouse, Brooklyn April 19th: Fifteenth St. Friends Meetinghouse, Manhattan July 18th: Saturday, Quaker Cemetery, Prospect Park October 18th: Flushing Monthly Meeting, Flushing Formatting instructions when submitting reports for our website: Use only a PDF format All files should be named as the following: 20181028_TitleOfDocument. Note there aren’t any spaces in the document name (incorrect example: 20181028_Title of Document) Do not put NYQM in the document name: e.g. 20190120_CommitteeReport New York Quarterly Meeting, Religious Society of Friends Meeting for Worship with a Concern for Business Brooklyn Meeting House, Brooklyn, NY 20th day, first month, 2019 AGENDA READING: Agenda review Date change for October 2019 NYQM from October 18th to October 27th. Brooklyn Meeting requests this as the only dates available for their fall retreat falls on the weekend of October 18-19th. Nominating Report and consenus slate Mary McDowell report Friends Seminary Board of Trustees Annual Report Brooklyn Monthly Meeting Report Staten Island Meeting Audit and Budget proposed budget Announcements -M&C will be hosting this next Wednesday’s mid-week worship at 15th St. as a worship sharing on the proposed Jubilee Year. -Jim Morgan: upcoming May 11th program -??? BREAK: M&C asking to put Concerning Quaker Life Working Group under their care Relief Committee report Morningside Monthly Meeting Report Flushing Monthly Meeting Report Friends in the City Fifteenth Street Monthly Meeting Manhattan Monthly Meeting Report M&C report asking the meeting to consider a Jubilee Year and establishing a process for discernment Worship CLOSE OF MEETING Recording clerk: Ian Hansen 2019 NYQM dates: January 20th: Brooklyn Friends Meeting, Brooklyn April 21st: Fifteenth Street Meeting, Manhattan July 13th: Quaker Cemetery, Prospect Park, Brooklyn in case of rain, meet at Brooklyn Friends Meeting October 27th: Morningside Meeting, Riverside Church, Manhattan 2020 NYQM dates: January 19th: Brooklyn Friends Meetinghouse, Brooklyn April 19th: Fifteenth St. Friends Meetinghouse, Manhattan July 18th: Saturday, Quaker Cemetery, Prospect Park October 18th: Flushing Monthly Meeting, Flushing Memorandum Date: January 20, 2019 To: Clerk, New York Quarterly Meeting (NYQM) From: NYQM Audit & Budget Committee Cc: NYQM Trustees Re: Proposed 2019 Budget Herewith a discussion of the proposed 2019 NYQM Budget (see attached). The Budget calls for a +123% increase versus 2018 Actual Total Income to $4,402,837 (Operations/Contributions $3,075,415, +147%; Investments $701,688, -3%, Friends Seminary Capital Reserve Fund contribution $625,734, N/A), a level above Total Expenses of $3,252,811 (+31%; Operating $1,608,343, +15%; Capital $1,544,468, +56%; Distributions $100,000, +12%) and resulting in a surplus of +$1,150,028 when compared with the 2018 Actual deficit of -$510,062. Note the 2018 deficit follows on the 2017 surplus of +$143,691 and the cumulative deficit from 2015 onwards of -$1,620,501. For Total Income the components of Operations/Contributions (70% of Total Income) reflect NYQM property rental income, the greatest being that from Friends Seminary (45% of Total Income) at $1,991,265, the combined total due for 2016-2019. Note that the Friends Seminary monies are in escrow and as such presently unavailable to fund NYQM activities in 2019. After Friends Seminary, comes the NYC Board of Education ($945,643, 21% of Total Income). Investment Income (16% of Total Income) is derived from NYQM monies managed for the most part by Friends Fiduciary Corporation (FFC). The projected -3% decrease reflects the 2018 -3% asset decrease (-$843,262 on 12/31/17 assets of $25,650,597 (12/31/18 $24,807,335)) and FFC’s projection for 2019. The last element to Total Income is the Friends Seminary Capital Reserve Fund Contribution (14% of Total Income) that at $625,734 is the combined 2016-2019 total due. These funds too remain in escrow. For Total Expenses, Capital Expenses (47% of Total Expenses) are the largest item for 2019 due to the NYQM Capital Reserve Fund contribution (19%, $625,734). Operating Expenses (49% of Total Expenses) comprise Personnel (32%, $1,044,343, +17%), Property (11%, $363,000, +4%) and Other Expenses (6%, $201,000, +23%). Salaries (30%, $971,343, +18%) are rising due to benefit costs and the filling of a vacant Facilities Manager position. Overall for 2019, Audit & Budget looks for NYQM to be supported by the expected release of Friends Seminary funds from escrow. As minuted by NYQM Trustees, the $1,991,265 escrow release will allow the return of $1,365,531 to the endowment account at FFC. NEW YORK QUARTERLY MEETING OPERATING BUDGET 2019 2018 2018 Actuals 2019 OPERATING EXPENSES Budget (NOT AUDITED) Budget Personnel Expenses QM Office Salaries (Includes Fringes) $ 462,066 $ 410,611 $ 571,161 15th Street Salaries (Includes Fringes) $ 186,723 $ 186,670 $ 205,595 Brooklyn Salaries (Includes Fringes) $ 188,023 $ 188,344 $ 157,138 Cemetery Salaries (Includes Fringes) $ 36,379 $ 34,866 $ 37,449 Overtime Expenses $ 35,000 $ 37,363 $ 35,000 Worker's Comp Insurance $ 32,000 $ 31,534 $ 33,000 Employee Education $ 1,500 $ 449 $ 5,000 Total Personnel Expenses $ 941,691 $ 889,837 $ 1,044,343 Property Expenses 15th Street Property $ 100,000 $ 104,913 $ 100,000 Brooklyn Property $ 98,000 $ 58,051 $ 70,000 Cemetery Property $ 45,000 $ 39,588 $ 40,000 112-116 Schermerhorn Property $ 5,000 $ 1,852 $ 5,000 Property + O&D Insurance $ 147,000 $ 144,500 $ 148,000 Total Property Expenses $ 395,000 $ 348,904 $ 363,000 Other Expenses QM Office $ 40,000 $ 28,081 $ 40,000 Morningside Meeting $ 12,000 $ 12,000 $ 12,000 Staten Island Meeting $ 3,840 $ 1,070 $ 3,400 Downtown Meeting $ 200 $ - $ 200 Manhattan Monthly Meeting $ 5,000 $ 5,120 $ 5,000 Audit & Budget Committee $ 200 $ 100 $ 200 Accounting Expenses/Audit $ 35,000 $ 41,771 $ 42,000 Cemetery Committee $ 1,000 $ 829 $ 1,000 Nominating Committee $ 200 $ - $ 200 Ministry & Counsel $ 10,000 $ 5,000 $ 10,000 QM Trustees $ 2,000 $ 1,753 $ 2,000 QM Clerk $ 1,000 $ - $ 1,000 Property Development $ 20,000 $ 5,855 $ 30,000 Special Projects $ 2,000 $ - $ 2,000 Legal Expenses $ 20,000 $ 60,999 $ 50,000 Miscellaneous Expenses $ 500 $ 1,232 $ 500 Consulting Expenses $ 1,500 $ - $ 1,500 Total Other Expenses $ 154,440 $ 163,810 $ 201,000 TOTAL OPERATING EXPENSES $ 1,491,131 $ 1,402,551 $ 1,608,343 INCOME Income From Operations/Contributions * $ 2,263,762 $ 1,242,906 $ 3,075,415 FS Reserve Fund Contribution (2016 & 2017) ** $ 262,500 $ - $ 262,500 FS Reserve Fund Contribution (2018) ** $ 179,375 $ - $ 179,375 FS Reserve Fund Contribution (2019) ** $ - $ - $ 183,859 Income From Investments $ 761,993 $ 727,124 $ 701,688 TOTAL INCOME $ 3,467,630 $ 1,970,030 $ 4,402,837 Operating Surplus (Deficit) $ 1,976,499 $ 567,479 $ 2,794,494 CAPITAL EXPENSES QM Office Capital $ 30,000 $ 11,216 $ 30,000 15th Street Capital $ 93,840 $ 223,827 $ 210,000 Brooklyn Capital $ 1,445,760 $ 328,417 $ 48,000 Cemetery Capital $ 60,000 $ 4,460 $ - 112-116 Schermerhorn Capital $ 108,000 $ 420,146 $ 5,000 FS Reserve Fund Expenses $ 441,875 $ - $ 625,734 QM Reserve Fund Expenses $ 348,035 $ - $ 625,734 TOTAL CAPITAL EXPENSES $ 2,527,510 $ 988,066 $ 1,544,468 Distributions To Beneficiaries $ 132,000 $ 89,475 $ 100,000 TOTAL EXPENSES $ 4,150,641 $ 2,480,092 $ 3,252,811 Total Unspent (Overspent) $ (683,011) $ (510,062) $ 1,150,026 Notes: * This projected income line includes FS's rent contributions (2016-19)