b'P RO PE RT Y CO M M I T T E E The most significant project of the year was the renovation of the second floor.This was undertaken by Creative Contracting (a big Thank You! to Brad Telfian for overseeing this venture).This project involved patching walls and repainting the classrooms and corridor, replacement of the drop ceiling tiles in the classrooms and upstairs offices, and installation of a drop ceiling in the classroom corridor.All lighting fixtures on the second floor were replaced with energy efficient LED units.With the refurbishment complete, room usage was re-assigned under the direction of Kyle Bonnar Bomar and Kate Given to more effectively utilize the space for our children and youth.Smaller projects included repainting the columbarium, elevator lobby, and rear stairwell. In October, we held a parish workday.Within the church, a team of volunteers cleaned all the woodwork in the nave, chancel, and sanctuary.Outside, the parking lot was cleaned up, bumpers moved back into position, secured in place and painted.With this done, the lines of the parking lot were repainted.Late in the year, Todd Dykshorn, one of our long term members, rolled off the committee.We are grateful to Todd for his years of expert advice, and are looking for a replacement.Submitted by Andrew Peacockpeacockandrewj@gmail.comE N D OW M E N T The Grace and Holy Trinity Endowment was created in 1947 with funds from the sale of the Churchs rectory. The Endowment exists solely for the purpose of supporting our Church. At present, the Endowment comprises ten funds that are all professionally managed by Davenport Asset Management. The trustees oversee the investment of three of these funds and determine amounts to be disbursed. The largest of the three is unrestricted. The two remaining funds are subject to restrictions specified by the donors. An example is the C. F. Patrick Scholarship Fund, which yearly provides educational scholarships for members of our parish. The seven remaining funds are financially managed by the trustees but are under the control of the Vestry. An example of this category is the Lucie Watkins Memorial Fund, named for church member Lucie Watkins. She and her husband were parishioners in the 1950s. When she died, she left the Endowment Fund $50,000, which has grown to more than $1,500,000. The primary objective of the trustees is to preserve and grow capital in order to provide help when a major project or an unforeseen need arises, and also to provide funds each year to the Vestry for parish programs. Each year the trustees seek to distribute up to 4% of the three-year rolling average of unrestricted funds under our control. In 2021, we contributed $382,000 to the church for its programs and committed $20,000 for scholarship assistance to parishioners. In addition, we contributed $100,000 toward repairs: $80,000 for the renovation last summer of educational spaces in the parish hall and $20,000 toward a reserve for future major repairs. This year we have pledged $420,000 to the church and at least $20,000 for scholarships. As of December 31, 2021, the total value of all ten funds was $17,491,223, of which $12,486,711 represented unrestricted endowment. As trustees, we are committed to our leadership in Grace & Holy Trinity by fulfilling the Endowments mission of providing current assistance while preserving capital for future needs. Submitted by Nelson Lankfordnelsonlank@gmail.comANNUAL REPORT | 11'