St Nicholas Greek Orthodox Church Endowment Fund Update

St. Nicholas Greek Orthodox Church Endowment Fund Update for the Argonauts May 10 th, 2018 Stephen Karniotis & Nick Feles

Agenda Background n Board of Trustees n Financial Status n Donation Strategy n How you can help grow the Endowment Fund n. Q&A n

Endowment Fund Background n n n Started in 2006 with donations from Helen ”Elie” Manos Additional donation from Tom & Beck Demery brought the value to $ 1, 000 in 2007 Primary Goal: ¨ Provide long term financial stability to support programs, ministries, organizations, and charities of Saint Nicholas ¨ Is not used to pay church operating expenses

Current Board of Trustees n Current Trustees: ¨ ¨ ¨ n Stephen Karniotis, Chairperson Nick Feles, Secretary Aaron Cloutier Patrick Crosson Dino Kostopoulos Timo Nicholaou Financial Advisor: ¨ Mark Corombos, Partner, Plante-Moran n Ex-Officio ¨ Fr. Stratton Dorozenski ¨ Fr. Michael Manos ¨ Peter Michalakis, President, Parish Council

Current Financial Status n Financials as of April 30 th ¨ Current n Value: $2, 105, 363 Distributions via the Endowment Fund since 2006 ¨ Over $ 420, 000 ¨ FY 2017 ROI = 14. 4% ¨ ROI sinception = 5. 37% ¨ Argonauts have received $ 64, 275. 55

How Distributions Occur Fiscal Year ends October 31 st n Distributions occur only when the Fund is profitable n ¨ 50% of the profit is invested back into the fund ¨ 50% can be used for distributions n If the Fund is not profitable, distributions do not occur until losses are returned into the fund

Distribution Strategy Allocations specific to donations made via Wills n New for 2017: Endowment Grant Application n ¨ Ministries within the church can apply for an Endowment Grant ¨ For 2017, $ 54, 500 was allocated via the Endowment Grant Process

Results of the 2017 Grant Program n 4 Grants were received by 10/31/2017 ¨ Men’s Lenten Retreat ¨ Community Center Technology Support ¨ Senior GOYA Trip to NYC to visit the Archdiocese, St. Nicholas Shrine, etc. ¨ Various ministry programs supported by the Parish

Pictures from the GOYA Trip

Grow The Endowment Fund Here’s the list of items that can be donated n n n Bequest (Will) Matching Gift of Cash Gift of Securities Gift of Life Insurance Gift of Real Estate n n n Qualified Retirement Plans Charitable Gift Annuity Deferred Gift Annuity Charitable Lead Trust Charitable Remainder Trust

How to Donate To The Endowment Fund Consult your attorney n Ask a Board of Trustees Member n Ask Father Stratton or Father Michael n v Church Tax ID: 38 -1392698 v All donations must include the Church’s Tax ID and specifically designate the St. Nicholas Endowment Fund as the recipient of the donation. v Any other stipulations must be fully documented with the donation.

Questions & Next Steps

Thank You