The Investment Committee
The Investment Committee held five meetings during the year. The attendance and active participation of all members was positive testimony of the desire to manage the investment assets to benefit our Church.
The investment assets as of January 1, 2005 were $2,739,208 and as of December 31, 2005 had increased to $2,965,652. The net increase of $226,444 amounted to an 8.3% gain for the year.
The net increase resulted from the following sources:
Investment earnings and transfers for 2005
Dividends
$38,781
Interest
21,956
Capital Gain Distribution
60,598
Realized & Unrealized Gain
28,711
*Net Cash Deposits
76,398
Total Increase
$226,444
*Note: Net cash deposits resulted from $176,398 provided for investment less $100,000 transferred to the Church to take care of operating and capital expenses as the need arose.
Investment asset allocation as of December 31, 2005
Cash and Money Market
6.6%
$194,395
Fixed Income
35.4%
$1,049,316
Equity
58.%
$1,721,941
Investment Assets
100.0%
$2,965,652
The Committee members have diligently endeavored to fulfill their obligations and appreciate the confidence and backing the Parish Council has provided.
Respectfully submitted:
Investment Committee Members
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Martin Mahdesyan, Chair |
Robert Janigian Sr. |