"Of the $38 million left for the church’s operating budget, some $4 million was spent on communications, $3 million on philanthropic grant spending and $2.5 million on the church’s music program, church officials said. Nearly $6 million went to maintain Trinity’s historic properties, including the main church building, which was built in 1846; St. Paul’s Chapel; and several cemeteries, where luminaries including Alexander Hamilton and Edward I. Koch are buried. The remainder went into the church’s equity investment portfolio."
The whole report on Trinity Wall Street's mega-investments is here. Makes for interesting reading on how to make as little information as possible to the people who matter.
Let us do some arithmetic.
From Trinity Wall Street's property investments $38 million is surplus after costs.
$4 million is spent on communications. Wow!
$2.5 million is spent on the church's music programme. Hey, choirs cost!
$6 million maintains the church's historic properties. Fair enough. Anglicans know that stone church cost their weight in gold.
So now we are down to 38-4-2.5-6= $25.5 million dollars to spend with a certain freedom and flexibility, what with no worries mate about the choir, organ and buildings.
Let me see, what would Jesus do?
(1) That would be what Trinity does: $3 million on philanthropy and $22.5 million into "the church's equity investment portfolio" ($160 million in 2011). Always sound investment strategy to grow the equity base!
(2) That would be to give all the surplus away: $25.5 million. I can think of a cathedral project or two which would be greatly helped!
(3) That would be to ... what do you think?
It is difficult, as an Anglican (these trust funds are all over the Communion) knows.