How HUUF Works Financially

Endowment Fund

In 2005 our Endowment Fund was established, to be managed by an elected committee whose members are selected at the annual Fellowship meeting, are separate from the Fellowship Board, and serve for three years. Contributions to the Endowment Fund will mostly come from assets donated by members after their death, but may be made at any time. The donations will be preserved perpetually by investing them wisely, preserving the original principal, and using only the earnings for special purposes other than regular operations of the Fellowship. The projects to be funded will be chosen by the Endowment Fund Committee after consideration of suggestions from the Fellowship’s members.

 

Contributions to the Endowment Fund differ from money pledged to fund our annual operating budget in several ways:

    1. The principal cannot be spent and only earnings are expended, thus allowing all gifts to carry out the Fund’s purposes in perpetuity, year after year.
    2. Decisions on Fund investments and the uses made of earnings are determined by the Endowment Committee and not by the Fellowship’s Board. This committee is directly responsible to the Membership and provides a report at the annual membership meeting, along with periodic reports to the Board.
    3. No funds will be spent by the Endowment Committee until sufficient capital has been accumulated to make expenditures reasonably worthwhile.
    4. The Fund’s earnings will not be used for the Fellowship’s general operating expenses but instead for purposes expressing the values of the Fellowship above and beyond the limitations of the budget. Such expenditures will represent in concept, if not in every detail, the suggestions of HUUF members that are made to the Endowment Committee.

 

 

HUUF – like all UU congregations – is an autonomous ‘member congregation’ within the UUA (Unitarian Universalist Association of Congregations). We do not receive any money from the denomination.  This means that ALL the money that it costs us to operate, we raise ourselves.

HOW MUCH DOES IT COST TO OPERATE

This year our operating budget is approximately 240K. This pays for our staff (65% Minister, Office Administrator, Choir Director, Pianist, Teen Director, Religious Education Director, Religious Education Teachers, Childcare Coordinator, and Childcare Providers and Assistants), our building costs, our program supplies (paper, computers, software, etc.), our utilities (lights, gas, phone, internet, water, etc.) and the money it costs for our programs to run (music, worship, religious education, newsletter, etc.) and our support of denominational services (to help run the UUA, provide curriculum, spread a wider voice in the religious landscape). We do not have a mortgage.

HOW DO WE GET MONEY

HUUF – like all other UU congregations – raises money in one of five ways:

  1. Building Use – HUUF raises approximately 6% of its income by renting out its space to other groups (Community groups, Weddings, Memorials, etc.).
  2. Fundraisers and Program Activity – HUUF raises approximately 6% of its income by holding fundraisers (Service Auction, Rummage Sale, Special Events, etc.).
  3. Pledges – HUUF relies on pledging from Members and Friends to account for nearly 79% of operating income. Unpledged donations will usually supply another 1% of income.  That means 80% of all our operating revenue comes from members’ pledges and donations … equaling about $190K.
  4. Sunday Collection – HUUF raises less than 2% of its revenue from Sunday collections (after giving away about 20% to other local agencies in the social justice field). 
  5. Endowment – We also use the earnings from our endowment (about $4k annually) to fund special projects.

As we begin 2018-19 we have approximately 171 members and received 153 pledges from member and friend families. This works out to about a $1,251/year ($104/month) as the average or $540/year ($45/month) as the median. The highest pledge we received was $18k.  The lowest was $20.  People pledge according to their means and how valuable they feel this community is for themselves and in the world. To meet our budget we need donations averaging $1,111 per member.  We do have a mostly unfunded long-term maintenance schedule, which we attempt to save for out of our operating budget. Sobering numbers, but this is our reality, and knowing it is the first step to changing it!  Let’s do it!

We ask people to pledge or donate from 2 to 10% or more of their adjusted gross income.  As one friend put it – we are asking for a gift from you that is a SIGNIFICANT amount to you; a gift that is an expression of the value you place on what this church offers in the world, in the community, in your spiritual and family life.