Eliot was blessed with an amazing surplus of $71,784 in our fiscal year ending June 30, 2024, highly unusual for a non-profit that usually wants to end the year with expenses equal to income. The Board thinks that some of that income was unique to the year where we cut expenses and received higher than typical contributions with the excitement of calling Rev. Taves as our settled minister. Some of you may be wondering what the Board plans to do with this extra cash. For starters, we are using approximately $20,000 to provide an Assistant Minister for this year, Rev. Dee Evans. We anticipate that her salary will be covered by the budget in future years. The carpet in Adams Hall was also replaced at an expense of $12,000. The remainder replenished our cash reserves, which had reached dangerously low levels in the past two years. Eliot spends an average of $2,174 per day based on our current budget. A general rule of thumb would be to maintain a cash balance of 90-120 days operating cash on hand to ensure that we can easily afford our payroll, keep our lights on, and provide coffee on Sunday morning. Our cash balance is now standing at 112 days of cash in reserves. This compares favorably to May 2022 when it had dipped as low as 44 days cash in reserves. This cash reserve will also be beneficial as we refinance our mortgage prior to its due date in April 2025. The extra cash demonstrates to a lender that we are a good credit risk and can manage our expenses. There are no immediate plans to spend this surplus and our members and friends will be the first to know if and how it is spent. 

Our budget for the 2024-2025 church year was based on a successful pledge campaign. The intent is to operate each year within our current year income rather than to dip into reserves to meet current year expenses. The budget is also based on raising $20-25,000 during our Chalice Keepers drive as well as other fundraising such as Madrigal, Trivia Night, and other miscellaneous fundraising. The Chalice Keepers drive goal is less than prior years and we plan to reduce the amount of a year-end ask in future years. The Chalice Keepers generosity drive is an end of year request as you look with love on what Eliot has provided to you during the year. If you are at a place of abundance, we ask you to consider making a year-end gift to Eliot Chapel. If you are at a place in which your resources are scarce, please feel great about your place at Eliot and know that you are a valuable part of the Eliot community. The first 100 donors will be entered into a drawing for a $100 gift card to Balkan Treat Box, a Bosnian immigrant-owned restaurant in Webster Groves. 



We have much to be proud of financially in the past year and we want to finish our current year on June 30, 2025 on solid ground. 

Susan Bell, Treasurer