What is the St. Matthew’s Capital Reserve Fund? Who manages it? How are the funds used?
Purpose:
The purpose of the Capital Reserve Fund of St. Matthew’s Episcopal Church, Austin, Texas (Church) is the long-term maintenance of Church property to enable St. Matthew’s to serve its ongoing community. The Fund is managed in a way that preserves and grows donated financial resources, to address both short-term and long-term needs for its buildings and grounds. The Buildings and Grounds Commission of the Vestry identifies projects worthy of using the fund, each of which must be approved by the Vestry. Investments of the Fund are managed by a pair of St. Matthew’s Portfolio Managers.
Executive Summary:
The Capital Reserve Fund was established by the Vestry in 2023, while the Church was also undertaking a Capital Reserve Study. Such funds are a best practice, in use by a majority of Episcopal churches as a prudent way to prepare for future needs. Leadership of St. Matthew’s encourages church members and friends to donate to the Fund through commemorative gifts or as part of their legacy plans. Doing so helps ensure the long-term health of St. Matthew’s