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Welcome! August 28, 2008

123 West 57th St.
New York, NY 10019
(212) 975-0170
Board of Deacons Annual Report 2005
Update from the Deacon Board on the budget and finances, hotel lease, facillities management and more.

by Loren E. Cannon

Board of Deacons
We appreciate the opportunity to keep you informed about the work of the Deacon Board, which has numerous responsibilities as assigned by the Bylaws. I am proud to serve with all the Deacons who have given countless hours over the past year in managing the maintenance and operation of the church. We say 'Thank You' to Demetrios Stratis whose work as Executive Administrator has been invaluable in many ways.

Budget and Finances
Each year the Deacon Board prepares and presents a budget for the members' review and approval. The Finance Committee has done an exceptional job this year of working with the pastoral staff, the Board of Elders, and program directors to complete a budget which we trust will accomplish God's will. We're thankful for the resources we have with which Calvary is able to provide many wonderful and meaningful ministry programs. Keep in mind, this church could not function without the personal and financial contributions of Calvary's members and friends, and we want to express our appreciation for your participation.

Hotel Lease
Sometimes in life we start down a particular pathway only to have God change course and lead us in another direction; such is the case with the Salisbury Hotel lease. As previously announced, the Salisbury Hotel lease transaction was terminated and we continue to seek the Lord's will in developing a plan which is in the best interest of Calvary for the long term.  The highest priority is to ensure the property given to us by God is well managed and operated in a professional and respectful manner. Please keep your leadership in prayer as we seek the Lord's leading.

Salisbury Hotel
We're very pleased to report that the Salisbury Hotel has regained a strong financial position over the past year, thanks in large part to the efforts of our new management team. We've continued our successful program of marketing specifically to Christian tour groups, which has produced great results. The improved hotel revenues have allowed the Salisbury to pay all due taxes and increase monthly rental payments to Calvary, which in turn has allowed us to increase the CBC budget to expand ministries.

Facilities Management
The Calvary facilities are generally in good condition and we are always looking for ways to make improvements as funds allow.  We spent some time this past year with the local fire department to review our building and fire safety procedures to ensure we are properly prepared for emergencies.  The Facilities Committee is in the process of developing a plan for upgrading the fifth floor and other areas of the church for more efficient use of space. If you have not volunteered to assist with one of our fix-up projects we encourage you to look for an opportunity, which is a great way to support our church.

We will continue, with God's grace, to fulfill the responsibilities of our position, as elected by the members and look forward to a wonderful year of accomplishment and victory ahead.

    Loren E. Cannon
    Chairman, Board of Deacons




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