CMM 2023-12-10

Minutes of Meeting for Worship with Attention to Business

Concord (NH) Monthly Meeting of

the Religious Society of Friends

10th of Twelfth Month 2023

Eleven Friends gathered for Meeting for Worship to attend to business, in person and by Zoom.  We opened with a brief period of quiet Worship.  The clerk read us a quote from Howard Brinton about Quaker Meeting business process,

At its best, the Quaker method does not result in a compromise.  A compromise is not likely to satisfy anyone completely.  The objective of the Quaker method is to discover Truth which will satisfy everyone more fully than did any position previously held.  Each and all can then say, ‘That is what I really wanted, but I did not realize it.’  To discover what we really want as compared to what at first we think we want, we must go below the surface of self-centered desires to the deeper level where the real Self resides.  The deepest Self of all is that Self which we share with all others.  This is the one Vine of which we all are branches [John 15:1–6], the Life of God on which our own individual lives are based.  To will what God wills is, therefore, to will what we ourselves really want.

Howard H. Brinton. Reaching decisions: the Quaker method. Wallingford Pa., Pendle Hill, 1952.  (Pendle Hill Pamphlet № 65, page 18)

Minutes of Eleventh month 2023 were approved as posted on our website with the correction that we decided to make to 11.06 to make it more consistent with minute 11.03 and the reality of how things work under Federal tax code.

12.01  Facility Use Policy: At the request of the clerk of property committee, we approached the issue of the childcare expectations under our facility use policy.  Some Friends present today were willing to meet to look at the issues, looking to inform the rest of our Meeting about their understanding of the current policy.  Jonah S, Sara S, Juliet C and Ruth H will take up this responsibility.

12.02  Peace, Social & Earthcare Concerns: The clerk of PSECC committee gave us a verbal report about committee activities in the recent past.  This included a fundraiser for AFSC-NH and a concert fundraiser for our Asylum Seekers Support Fund that they hosted with a well-known musician and storyteller that packed the Meetinghouse.  Once the final numbers are known, the committee will give us a written report of how they managed the event and the amount of money it raised.

12.03  Youth Religious Education: YRE committee gave us a verbal report about their intentions to do outreach to families.  The committee noted that Elanor T, a regular attender of our Meeting First Day school will be joining the committee.

12.04  Treasurer’s Report: Finance committee reported on the current state of our interim FY2024 budget for this fiscal year.  At six months of the fiscal year, we have received $17,710 income and have paid expenses of $11,230.  They also presented the balance sheet update. These reports are attached as is a report about the financing of our new heating system.  This focuses on the cash flow related to the costs and the short-term loans used to accomplish the work and the anticipated moneys returning to us from the Federal tax code incentives for nonprofits to get what would have been a tax credit for a for-profit business.

An updated proposal for a replacement of the above interim budget for fiscal year 2024 (6/1/2023 to 5/31/2024) was also brought along with reasoning for the major changes involved. This is attached.  Friends approved this final budget as proposed with gratitude for the work of the finance committee.

Financial Summary
Total Income: $17,710
Total Expenses: $11,230
Net Income: $6,480  


We closed with a brief period of quiet worship, purposing to meet again on the second First Day of First month 2024.

Submitted by,   Accepted as the Approved Record,
     
/s/ Jennifer Smith, Recording Clerk   /s/ Richard Kleinschmidt, Presiding Co-Clerk

Concord Monthly Meeting

Statement of Operations as of Eleventh Month 30, 2023

(50% of Fiscal Year 2024)
Concord Monthly Meeting Statement of Operations 2023-06-01 – 2023-11-30 Budget – FY 2023-24 Budget Remaining % of Budget Raised
Income
Contributions $15,201 $27,400 $12,199 55%
Interest Income $69 $810 $741 9%
Rental Income – Child Care $2,000 $0 ($2,000) 100%
Rental Income – Others $440 $900 $460 49%
Solar Roof Lease $0 $240 $0 0%
Total Income $17,710 $29,350 $11,400 60%
Expenses       % of Budget Spent
Program
Finance Committee $0 $30 $30 0%
Hospitality $51 $100 $49 51%
Library $0 $140 $140 0%
Ministry & Counsel $0 $400 $400 0%
Outreach Committee $0 $175 $175 0%
Peace, Social & Earthcare Concerns $0 $150 $150 0%
Right Relations $0 $400 $400 0%
Website Expense $0 $1,000 $1,000 0%
Youth & Religious Education $60 $300 $240 20%
Total Program $110 $2,695 $2,585 4%
Property
Data Usage $595 $960 $365 62%
Debt Service $1,903 $3,805 $1,902 50%
Depreciation $1,905 $3,810 $1,905 50%
Donation in Lieu of Taxes $0 $500 $500 0%
Electricity $500 $1,000 $500 50%
Furnishings $0 $0 $0 0%
Grounds $0 $100 $100 0%
Insurance $1,490 $2,890 $1,400 52%
Maintenance $379 $1,180 $801 32%
Snow Removal $0 $1,600 $1,600 0%
Supplies - Bldg. & Maintenance $56 $250 $194 22%
Wood Pellets $215 $1,200 $985 18%
Total Property $7,042 $17,295 $10,253 41%
Support
AFSC $824 $1,640 $816 50%
Dover Quarterly Meeting $0 $10 $10 0%
FCNL $0 $157 $157 0%
Friends Camp $0 $314 $314 0%
FWCC $0 $68 $68 0%
Interfaith Council $0 $50 $50 0%
NEYM - Equalization Fund $0 $314 $314 0%
NEYM - General Fund $3,246 $6,491 $3,245 50%
NH Council of Churches $0 $75 $75 0%
Woolman Hill $0 $241 $241 0%
Total Support $4,070 $9,360 $5,290 43%
Landscaping $8 $0 ($8) 100%
Total Expense $11,230 $29,350 $18,120 43%
Net Income $6,480

NB. The Income & Expenses Sheet was created with two decimal points, which were removed for readability, the cents being unimportant to the overall understanding.  This can have the effect of throwing off any given sum by a dollar due to compounded rounding.  —  Prepared by Greg Heath and Chris Haigh.


Concord Monthly Meeting FY 2024

Accrual Basis Balance Sheet as of Eleventh Month 30, 2023
Concord Monthly Meeting Balance Sheet 11th Month 30, 2023    
ASSETS
Current Assets
Checking/Savings
Checking MCSB $18,820
Money Market MCSB $114
Savings Granite State Cr Union $10
Total Checking/Savings $18,944
Accounts Receivable
Accounts Receivable $0
Total Accounts Receivable $0
Other Current Assets
Prepaid Electricity $4,502
Prepaid Insurance $248
Total Other Current Assets $4,751
Total Current Assets   $23,695
Fixed Assets
Building/Furnishings/Fixtures $513,629
Equipment $0
Less Accumulated Depreciation ($34,978)
Land (including new lot) $144,400
Total Fixed Assets   $623,051
Other Assets
Granite State Credit Union CD $3,102
Total NH Community Loan Fund $24,869
Total Other Assets   $27,971
TOTAL ASSETS     $674,717
LIABILITIES & EQUITY
Liabilities
Current Liabilities
Loan - Heating - Fire Safety $14,000
Total Current Liabilities $14,000
Long-term Liabilities
Mortgage Loan $6,340
Total Long-term Liabilities   $6,340
Total Liabilities   $20,340
Equity
General Fund Balance  
Fire Safety Improvements $30,035
Land & Building Fund - Other $610,855
General Fund Balance – Other $561
Total General Fund Balance   $641,451
Temp. Restricted Net Assets
Donor Restricted Funds
Asylum Seekers Support Fund (ASSF) $1,192
Kakamega Family Support Fund $1,818
Mindful Mortality $975
Social Justice Fund $303
Solar Grant Fund $1,209
Total Donor Restricted Funds $5,497
Meeting Temp. Restricted Funds
Friendly Assistance Fund $950
   
Total Meeting Temp. Restricted Funds $950
Total Temp. Restricted Net Assets   $6,447
Net Income   $6,480
Total Equity   $654,377
TOTAL LIABILITIES & EQUITY     $674,717


Concord Monthly Meeting

  Budget Planning for

Remainder of Fiscal Year 2023-24
Concord Monthly Meeting Budget Comparisons & Proposal 2023 Continuing Budget (same as last FY Budget) Last Fiscal Year Actuals (2022-06-01 – 2023-05-31) FY 2024 Proposed Budget Changes From Previous FY Budget Explanations of Proposed Amounts
Income
Contributions $27,400 $27,591 $27,400 $0 same as FY 23 Budget
Interest Income $810 $930 $1,090 $280 Current NHCLF loans with $160 more from current bank CD
Rental Income - Child Care $0 $0 $5,400 $5,400 Based on lease & anticipated full enrollment by Feb 1
Rental Income - Other $900 $1,729 $1,200 $300 An unknown variable
Solar Roof Lease $240 $240 $240 $0 Fixed by agreement
Total Income $23,350 $30,490 $35,330 $5,980  
Expenses
Program
Finance Committee $30 $0 $100 $70 Increased due to anticipated expenses
Hospitality $100 $65 $100 $0 same as FY 23 Budget
Library $140 $26 $140 $0 same as FY 23 Budget
Ministry & Counsel $400 $0 $400 $0 same as FY 23 Budget
Outreach $175 $190 $175 $0 same as FY 23 Budget
Peace, Social & Earthcare Concerns $150 $0 $150 $0 same as FY 23 Budget
Right Relationships $400 $0 $400 $0 same as FY 23 Budget
Website Expenses $1,000 $148 $1,000 $0 same as FY 23 Budget; unsure if needed
Youth & Religious Education $300 $176 $300 $0 same as FY 23 Budget
Total Program $2,695 $604 $2,765 $2,695  
Property
Data Usage $960 $1,008 $1,200 $240 Comcast increased contract
Debt Service (Prin. & Int.) $3,805 $3,805 $3,805 $0 Quarterly Payments end January 2025
Short-term Borrowing Interest $0 $0 $500 $500 Less than originally projected due to principal payments made
Depreciation $3,810 $3,810 $3,810 $0 Same as last year including enough for new heating system
Donation in Lieu of Taxes $500 $500 $0 ($500) Eliminate due to Pathfinders Child Care and Oxbow Solar tax payments
Electricity $1,000 $999 $1,000 $1000 same as FY 23 Budget
Updated Agreement with Oxbow Solar $0 $999 $1,000 $0 A variable TBD but best guess
Grounds $1,000 $78 $1,000 $0 May not be needed if funded by Legacy Grant from NEYM
Insurance $2,890 $2,884 $3,072 $182 Based on Church Mutual new premium commencing January 2024
Maintenance $1,180 $1,276 $1,740 $560 For possible installing of acoustic panels in Worship Room
Snow Removal $1,600 $1,460 $1,600 $0 same as FY 23 Budget
Supplies - Bldg. & Maintenance $250 $150 $250 $0 same as FY 23 Budget
Wood Pellets $1,200 $1,319 $0 ($1,200) No more need
Total Property $17,295 $17,289 $18,477 $1,182  
Support
AFSC $1,640 $1,640 $1,889 $249 3% increase for organizations with payroll
Dover Quarterly Meeting $10 $10 $10 $0 same as FY 23 Budget
FCNL $157 $157 $162 $5 3% increase for organizations with payroll
Friends Camp $314 $314 $323 $9 3% increase for organizations with payroll
FWCC $68 $68 $227 $68 FY 23 Budget + NEYM calculated share
Interfaith Council $50 $50 $50 $0 Based on membership assessment
NEYM - Equalization Fund $314 $314 $361 $47 15% increase
NEYM - General Fund $6,491 $6,491 $7,465 $974 15% increase
Friends General Conference (FGC) $0 $0 $159 $159 NEYM calculated share
Friends United Meeting (FUM) $0 $0 $159 $159 NEYM calculated share
NH Council of Churches $75 $75 $75 $0 Based on membership assessment
Woolman Hill $241 $241 $248 $7 3% increase for organizations with payroll
           
Total Support $9,360 $9,360 $11,128 $1,768  
Total Expense $29,350 $27,253 $32,369 $3,019  
Net Income $0 $3,237 $2,961 $2,961  

Concord Monthly Meeting

Fundraising Report

for Fire Safety and Geothermal Heating System Upgrades

as of November 5, 2023
Source of Funding Actuals
Capital Campaign  
Capital Campaign – Individuals 18,485
Capital Campaign – Grants 11,500
Total Capital Campaign 29,985
Other Source of Funds  
Federal Subsidy (30% of geothermal) ** 15,383
Sale of Boiler Items 689
Replacement Reserve Savings 20,000
Total Other Source of Funds 36,072
   
Total Source of Funds 66,057
   
Funds Expended (includes $1000 for landscaping materials) 68,724
   
Gain/(Loss ) (2,667)