ABCRM - spacer image
ABCRM - spacer image
ABCRM Home PageAbout American Baptist Churches of the Rocky MountainsMember ChurchesPastorsMinistriesMissionClustersCommunication

••••••• FINANCIAL REPORTS•••••••
 

INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

SECOND QUARTER, 2014

 

 

At the end of June the Ministry/Mission Fund balance was $15,748,325, an increase of $359,722 from the prior quarter.  The total return for the quarter, including the authorized withdrawal of $160,000 for the operating budget, was 3.4%.   

 

Year-to-date the total return, including authorized withdrawals of $322,500, was 5.2% compared to the benchmark total return of 5.8%.  In general the fixed income investments performed consistent with the benchmark while the some of the equity investments underperformed.

 

As of June 30, 2014 the Fund was invested in the following:

American Baptist Foundation Endowment Fund       - Stock $2,043,197.94

Calvert Social Investment Fund – Equity                                   $5,027,748.22

Vanguard FTSE Social Index                                                                  $3,066,957.47   $10,137,903.63

 

American Baptist Foundation Endowment Fund – Bond   $1,124,687.79

Calvert Social Investment Fund – Bond                                              $4,485,733.94     $5,610,421.73

 

                                                                                                                                                   $15,748,325.36

 

At the end of the quarter the Fund’s asset allocation was 64% equities and 36% fixed income.  This is within the allowable range and represents a rebalancing from recent quarters when it was outside of range.

                                                                                                                                      

If you have any questions about the Fund and its investments, please contact any of the Committee members, Gary Diffendaffer, Jim O’Dell or myself.

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee

 

 


 

INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

FIRST QUARTER, 2014

 

 

At the end of March 2014 the Ministry/Mission Fund balance was $15,388,603, an increase of $12,246 from 2013 year end.  The total return for the quarter, including the authorized withdrawal of $162,500 for the operating budget, was 1.1% compared to the benchmark total return of 1.8%.  In general the fixed income investments performed well while the equity investments underperformed.

 

As of March 31, 2014 the Fund was invested in the following:

 

American Baptist Foundation Endowment Fund - Stock                        $2,069,062.25

Calvert Social Investment Fund – Equity                                                   $4,866,524.78

Vanguard FTSE Social Index                                                                     $2,945,860.85     $9,881,477.88

 

American Baptist Foundation Endowment Fund – Bond                        $1,128,709.21

Calvert Social Investment Fund – Bond                                                    $4,378,446.26     $5,507,155.47

 

                                                                                                                                                    $15,388,603.35

 

At the end of the quarter the Fund’s asset allocation was 64% equities and 36% fixed income.  This is within the allowable range and represents a rebalancing from recent quarters when it was outside of range.

                                                                                                                                      

If you have any questions about the Fund and its investments, please contact any of the Committee members, Gary Diffendaffer, Jim O’Dell or myself.

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee


INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

FOURTH QUARTER, 2013

 

 

At the end of December 2013 the Ministry/Mission Fund balance was $15,376,358, an increase of $891,395 in the fourth quarter.  Since $162,250 was withdrawn as authorized by the Region’s budget, the quarter’s investment gain was $1,053,645.   

 

On a full year basis the Fund increased by $1,901,493 when compared to the 2012 yearend balance of $13,474,865.  Since $650,000 was withdrawn to support Region operations, the total return increase including withdrawals would have been $2,551,493.  This is a total return of 18.9% slightly exceeding the Fund’s weighted benchmark return of 18.6%.

             

As of December 31, 2013 the Fund was invested in the following:

 

              American Baptist Foundation Endowment Fund            - Stock             $2,071,580.32

              Calvert Social Investment Fund - Equity                                             $5,493,470.69

              Vanguard FTSE Social Index                                                                  $2,866,777.33

              American Baptist Foundation Endowment Fund - Bond           $1,115,466.33            

Calvert Social Investment Fund – Bond                                              $3,829,063.29

                                                                                                                                    $15,376,357.96

 

At the end of the year the Fund asset allocation was 68% equities and 32% fixed income.  The Investment Committee would like the Fund to be at a 65%/35% allocation and the investments will be adjusted accordingly.

                                                                

If you have any questions about the Fund and its investments, please contact any of your Investment Committee members; Gary Diffendaffer, Jim O’Dell or myself.

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee


INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

THIRD QUARTER, 2013

 

 

At the end of September 2013 the Ministry/Mission Fund balance was $14,484,963.32.  This is an increase of $443,605 since the end of June 2013.  Including second quarter withdrawals of $162,500 for the operating budget, the Fund assets grew by $606,105.   

 

As of September 30, 2013 the Fund was invested in the following:

 

              American Baptist Foundation Endowment Fund                            $3,185,866.43

              Calvert Social Investment Fund - Bond                                   $3,815,377.25

              Calvert Social Investment Fund - Equity                                 $4,888,807.17

              Vanguard FTSE Social Index                                                      $2,594,912.47

                                                                                                                           $14,484,963.32

 

The asset allocation of the Fund at quarter end was 65% equities and 35% fixed income compared to the Region Investment Policy target of 60%/40%.  Equities have continued to increase in value faster than the bond investments.  During the quarter funds were moved from equity to fixed income funds and withdrawals also were from equity funds.  The Committee will continue to make allocation adjustments to try to stay within 5% of the target asset allocation.

 

On behalf of your Investment Committee of Gary Diffendaffer, Jim O’Dell and myself, let me thank you for opportunity to serve the Region by overseeing this Fund. 

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee


INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

SECOND QUARTER, 2013

 

At the end of June 2013 the Ministry/Mission Fund balance was $14,041,358.  This is a decline of $117,374 since the end of March 2013 although when the authorized quarterly withdrawal of $162,500 is included, the Fund actually gained $45,126 during the quarter.  

 

Including the $325,000 in first half authorized withdrawals, the Fund balance increased by $891,493 since the beginning of 2013.  This represents a total return of 6.6%, somewhat below the benchmark return of 7.3%.

 

As of June 30, 2013 the Fund was invested in the following:

 

              American Baptist Foundation Endowment Fund                            $3,207,764.83

              Calvert Social Investment Fund - Bond                                            $3,354,891.77

              Calvert Social Investment Fund - Equity                                           $5,027,679.80

              Vanguard FTSE Social Index                                                            $2,451,021.65

                                                                                                                          $14,041,358.05

 

The asset allocation of the Fund at quarter end was 68% equities and 32% fixed income as compared to the Region Investment Policy target of 60%/40%.  In order to move the asset allocation closer to the target, quarterly withdrawals are being rotated among the Fund’s equity investments.

 

On behalf of your Investment Committee of Gary DIffendaffer, Jim O’Dell and myself, let me thank you for opportunity to serve the Region by overseeing this Fund. 

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee


INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

FOURTH QUARTER, 2012

 

 

At the end of December 2012 the Ministry/Mission Fund balance was $13,474,865, a decline of $37,182 in the fourth quarter.  Since $162,250 was withdrawn as authorized by the Region’s budget, the quarter’s investment gain was $125,068.  This 1% total return exceeded the fourth quarter benchmark of -0.14%. 

 

On a full year basis the Fund increased by $963,792 when compared to the 2011 yearend balance of $12,548,249.  Since $649,500 was withdrawn to support Region operations, the total return increase including withdrawals would have been $1,613,292.  This is a total return of 12.9% exceeding the Fund’s benchmark return of 11.3%.

             

As of December 31, 2012 the Fund was invested in the following:

 

              American Baptist Foundation Endowment Fund                                        $3,066,552.13

              Calvert Social Investment Fund – Bond                                              $3,443,829.56

              Calvert Social Investment Fund – Equity                                                        $4,725,774.20

              Vanguard FTSE Social Index                                                                  $2,238,709.26

                                                                                                                                    $13,474,865.15

 

At the end of the year the Fund asset allocation was 66% equities and 34% fixed income.  The Investment Committee would like the Fund to be at a 65/35 allocation and has been carefully moving towards this goal by managing its withdrawals.

                                                                

If you have any questions about the Fund and its investments, please contact any of your Investment Committee members; Gary Diffendaffer, Jim O’Dell or myself.

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee


INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

THIRD QUARTER, 2012

 

 

At the end of September 2012 the Ministry/Mission Fund balance was $13,512,041.  This is an increase of $502,409 since the end of June 2012.  Including second quarter withdrawals of $162,250 for the operating budget, the Fund assets grew by $664,909.   

 

Since the beginning of the year the Fund growth including withdrawals has been $1.45 million.  This represents a year-to-date return of 11.6% versus the benchmark return of 11.4%, a strong performance for the Fund.

 

As of September 30, 2012 the Fund was invested in the following:

 

              American Baptist Foundation Endowment Fund                            $3,016,916.60

              Calvert Social Investment Fund - Bond                                            $3,421,943.62

              Calvert Social Investment Fund - Equity                                          $4,883,696.63

              Vanguard FTSE Social Index                                                           $2,189,484.32

                                                                                                                           $13,512,041.17

 

The asset allocation of the Fund at quarter end was 66% equities and 34% fixed income as compared to the Region Investment Policy target of 60%/40%.  Equities have continued to increase in value faster than the bond investments and future withdrawals will be used to bring the allocation back closer to the Policy target.

 

On behalf of your Investment Committee of Gary Diffendaffer, Jim O’Dell and myself, let me thank you for opportunity to serve the Region by overseeing this Fund. 

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee


INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

SECOND QUARTER, 2012

 

 

At the end of June 2012 the Ministry/Mission Fund balance was $13,009,632.  This is a decline of $542,852 since the end of March 2012.  Excluding second quarter withdrawals of $162,250 for the operating budget, the Fund assets declined by $380,602.

 

During the first half of 2012 the Fund balance increased by $461,382 in addition to the $324,750 in withdrawals.  The total earnings of $786.132 represent a return of 6.3% close to the benchmark return of 6.7%.

 

As of June 30, 2012 the Fund was invested in the following:

 

              American Baptist Foundation Endowment Fund                            $3,043,956.86

              Calvert Social Investment Fund - Bond                                            $3,308,115.09

              Calvert Social Investment Fund - Equity                                          $4,603,956.61

              Vanguard FTSE Social Index                                                           $2,053,602.97

                                                                                                                         $13,009,631.53

 

The asset allocation of the Fund at quarter end was 66% equities and 34% fixed income as compared to the Region Investment Policy target of 60%/40%.

 

On behalf of your Investment Committee of Bob Blake, Jim O’Dell and myself, let me thank you for opportunity to serve the Region by overseeing this Fund. 

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee

 


INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

FIRST QUARTER, 2012

 

 

At the end of March, 2012 the Ministry/Mission Fund balance was $13,552,482, an increase of $1,004,234 in the first quarter consistent with equity market gains.  The total return for the quarter was 9.3% as compared to the benchmark total return of 7.68%.

 

As of March 31, 2012 the Fund was invested in the following:

 

              American Baptist Foundation Endowment Fund                               $3,130,094.50

              Calvert Social Investment Fund – Bond                                              $3,215,692.97

              Calvert Social Investment Fund – Equity                                             $5,047,977.34

              Vanguard FTSE Social Index                                                               $2,158,718.73

                                                                                                                             $13,552,483.54

 

Of the four investments in the portfolio three of them exceeded their first quarter benchmarks:  Calvert Social Investment Fund – Equity 15.7% versus 12.6%; Vanguard FTSE Social Index 13.1% versus 12.6%; and Calvert Investment Fund – Bond 1.2% versus 0.3%.  The Foundation lagged the benchmark 5.9% versus 7.7%.  Overall this is a very good performance albeit for just one quarter. 

 

Comparing to one year ago the Fund balance is back to $13.55 million having recovered its market value during the last 12 months as well as funding the 2011 authorized budget support of $630,000.   Once again the Ministry/Mission Fund is exceeding its original $13 million funding level.

                                                                                                                                      

If you have any questions about the Fund and its investments, please contact any of the Committee members; Bob Blake, Jim O’Dell or myself.

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee


2011 Final Audit Report (pdf file)  


INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

FOURTH QUARTER, 2011

 

 

At the end of December 2011 the Ministry/Mission Fund balance was $12,548,249, an increase of $653,052 in the fourth quarter consistent with general market gains.  The total return for the quarter was 5.6%.

 

The Fund declined by $471,079 when compared to the 2010 yearend balance of $13,019,327.  Since $630,000 was withdrawn to support Region operations as authorized by the budget, the total return including withdrawals would have been 1.2% compared to the benchmark return of 4.4%.  Fund performance was impacted by the relatively poor performance of socially screened securities as well as the timing of withdrawals relative to market changes. 

 

As of December 31, 2011 the Fund was invested in the following:

 

              American Baptist Foundation Endowment Fund                                        $2,957,051.61

              Calvert Social Investment Fund – Bond                                                       $3,176,547.12

              Calvert Social Investment Fund – Equity                                                     $4,362,659.95

              Vanguard FTSE Social Index                                                                       $2,051,990.55

                                                                                                                                     $12,548,249.23

 

During the year the Investment Committee diversified the Fund holdings by moving some money from the American Baptist Foundation Endowment Fund to the Vanguard FTSE Social Index Fund. 

 

If you have any questions about the Fund and its investments, please contact any of the Committee members; Bob Blake, Jim O’Dell or myself.

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee


INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

SECOND QUARTER, 2011

 

 

At the end of June 2011 the Ministry/Mission Fund balance was $13,304,855.  This is a decline of $253,970 since the end of March, 2011.  Considering that the second quarter withdrawals for the operating budget were $280,000, the Fund assets grew by $26,030 during the quarter. This return of 0.2% lags the benchmark return of 1.1%. 

 

During the first half of 2011 the Fund balance increased by $285,527 in addition to the $430,000 in withdrawals.  Therefore the total earnings have been $715,527 which represents a return of 5.5% comparing favorably with the benchmark return of 5.0%.

 

Year-to-date withdrawals are more than half of the authorized full year amount of $630,000 due to budget timing considerations.  The second half withdrawals will be the remaining $200,000.

 

As of June 30, 2011 the Fund was invested in the following:

 

              American Baptist Foundation Endowment Fund                            $3,100,545.47

              Calvert Social Investment Fund - Bond                                            $3,084,577.81

              Calvert Social Investment Fund - Equity                                           $4,860,663.65

              Vanguard FTSE Social Index                                                            $2,259,067.59

                                                                                                                          $13,304,854.52

 

The asset allocation of the Fund at quarter end was 67% equities and 33% fixed income as compared to the Region Investment Policy target of 60%/40%.

 

During the second quarter $2.3 million was invested with the Vanguard FTSE Social Index mutual fund.  This move further diversifies the Ministry/Mission Fund investments and reduces the risk of any one poor performing investment significantly impacting the Fund balance.

 

On behalf of your Investment Committee of Bob Blake, Jim O’Dell and myself, let me thank you for opportunity to serve the Region by overseeing this Fund. 

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee


INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

FIRST QUARTER, 2011

 

 

At the end of March 2011 the Ministry/Mission Fund balance was $13,558,825.  This is an increase of $539,498 since the end of December, 2010.  During the quarter the fund grew by 5.3% including authorized withdrawals of $150,000 whereas the benchmark indices increased by 3.7%.

 

As of March 31, 2011 the Fund was invested in the following:

 

              American Baptist Foundation Endowment Fund                            $5,440,350.02

              Calvert Social Investment Fund - Bond                                            $3,127,186.14

              Calvert Social Investment Fund - Equity                                           $4,991,288.99

                                                                                                                          $13,558,825.15

 

The asset allocation of the Fund at quarter end was 60% equities and 40% fixed income which is the same as the Region Investment Policy target.

 

During the first quarter the Region Board, at the request of the Investment Committee, authorized opening an account with Vanguard and subsequent to the quarter end, $1.3 million has been invested in the Vanguard FTSE Social Index Fund.  This move will further diversify the Ministry/Mission Fund investments and reduce the risk of any one poor performing investment significantly impacting the Fund balance.

 

On behalf of your Investment Committee of Bob Blake, Jim O’Dell and myself, let me thank you for opportunity to serve the Region by overseeing this Fund. 

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee

INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

FOURTH QUARTER, 2010

 

 

At the end of December 2010 the Ministry/Mission Fund balance was $13,019,327, the first time the Fund has exceeded its original 2005 value of $13 million since June, 2008.  This is an increase of $741,272 from yearend 2009.  This growth is primarily due to equity market gains. 

 

During 2010, $670,000 was withdrawn to support the Region’s operations as authorized by the approved budget.   

 

Including all withdrawals, the Fund’s total return was $1.41 million, an 11.5% increase since December, 2009.  This is consistent the Fund’s 2010 weighted benchmark of 11.7%.

 

As of December 31, 2010 the Fund was invested in the following:

 

             American Baptist Foundation Endowment Fund                                        $5,270,508.83

            Calvert Social Investment Fund – Bond                                                        $3,087,431.05

             Calvert Social Investment Fund – Equity                                                      $4,661,387.39

                                                                                                                                     $13,019,327.27

 

During the year the Investment Committee made several decisions regarding the Fund’s investments.  During the third quarter $3 million was moved from the American Baptist Foundation Endowment Fund and invested in the two Calvert funds consistent with the Fund’s target asset allocation.  At the Committee’s December meeting it was agreed to move another $ 1 million from the Foundation Endowment Fund and invest it in Vanguard’s FTSE Social Index Fund.  This transfer will be completed early in 2011.

 

If you have any questions about the Fund and its investments, please contact any of the Committee members; Bob Blake, Jim O’Dell or myself.

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee

 

 


INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

THIRD QUARTER, 2010

 

 

At the end of September, 2010 the Ministry/Mission Fund balance was $12,357,405.  This is an increase of $653,690 since the end of June, 2010.  During the quarter the Fund grew $932,857, including withdrawals of $279,167, and returned 8.0% which exceeds the benchmark performance of 6.1%. 

 

During the quarter $3 million in assets was transferred from the American Baptist Foundation Endowment Fund to the Calvert Funds.  This was approved by the Region’s Investment Committee at its July meeting after comparing the long term performance of the current investment managers.  The Fund continues to be below its original principal market value of $13 million although it is above its value at September, 2009 of $11,953,143.

 

As of September 30, 2010 the Fund was invested in the following:

 

              American Baptist Foundation Endowment Fund                            $4,995,566.92

              Calvert Social Investment Fund - Bond                                   $3,126,879.46

              Calvert Social Investment Fund - Equity                                 $4,234,959.03

                                                                                                                           $12,357,405.41

 

The asset allocation at end of September was 59% equity and 41% fixed income as compared to the benchmark of 60%/40%.  The allocation has moved closer to the benchmark by 3% during the quarter due to the improved performance in equities.

 

On behalf of your Investment Committee of Bob Blake, Jim O’Dell and myself, let me thank you for opportunity to serve the Region by overseeing this Fund. 

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee


 

INVESTMENT REPORT

AMERICAN BAPTIST CHURCHES OF THE ROCKY MOUNTAINS

FOURTH QUARTER, 2009

 

 

At the end of December 2009 the Ministry/Mission Fund balance was $12,278,055, an increase of $324,912 from the end of September and a gain of $1,465,118 from year end, 2008.  This growth is primarily due to equity market gains. 

 

During 2009, $490,832.70 was withdrawn to support the Region’s operations although $710,000 had been authorized.  The Region has used other funding sources where possible in order to minimize the impact on the Fund and to enable the Fund to recover faster from its market losses as the markets recover. 

 

Including all withdrawals, the Fund’s total return was $1.96 million, an 18% increase since December, 2008.  This exceeds the Fund’s 2009 weighted benchmark of 16%.

 

As of December 31, 2009 the Fund was invested in the following:

 

              American Baptist Foundation Endowment Fund                                           $8,174,827.15

              Calvert Social Investment Fund – Bond                                                          $1,837,070.37

              Calvert Social Investment Fund – Equity                                                        $2,266,157.11

                                                                                                                                        $12,278,054.63

 

With the turnaround in the financial markets underway, the Investment Committee and the Region staff will continue to carefully balance their actions to enable the Fund to return to its expected levels while also honoring the intent of the Fund to provide support for Region programs. 

 

Reflective of this careful balance of regaining principal while supporting operations, the Fund’s 2010 support for operations has declined to $670,000 from $710,000 in 2009.  This is consistent with the Fund’s Investment Policy which specifies 5% of the last 12 quarter market values as the level of annual operations support. 

 

If you have any questions about the Fund and its investments, please contact any of the Committee members; Bob Blake, Jim O’Dell or myself.

 

                                                                                                  Anne Mills, Chair

                                                                                                  ABCRM Investment Committee

 

Click here to see previous reports


2009 Final Audit Report

Click Here for the report (in PDF)

2008 Final Audit Report

Click Here for the report (in PDF)

2007 Final Audit Report

Click Here for the report (in PDF)

2006 Final Audit Report

Click Here for the report (in PDF)

 



Spacer image
ABCRM - spacer image
ABCRM - spacer image