Treasurer's Report, May 2011, Valerie Lester
April Income = $86o
April Expenses = $566
YTD Income = $12,084
YTD Expenses = $11,457
May is the final month of the Fiscal year - Anyone with expenses, please submit requests for reimbursement or an advance to avoid carrying over expenses into next Fiscal year.
------------------------------------------------------------------------------------------------
Treasurer's Report, April 2011, Valerie Lester
March Income = $200
March Expenses = $905
YTD Income = $11,434
YTD expenses = $9,986
All approved contributions made. The Fiscal year ends May 31. Committees or individuals with expenses are encouraged to submit receipts.
------------------------------------------------------------------------------------------------
Treasurer's Report, 3/13/2011, by Valerie Lester
February Income = $472
February Expenses: = $2,260
Most of the contributions were made in Feb. $425 remain to be made in March.
YTD Income = $11,123
YTD Expenses = $9,006
Checking acct balance - $12,470
Sufferings Fund = $997
------------------------------------------------------------------------------------------------
Treasurer's Report, 2/20/2011, by Valerie Lester
January Income=$331
January Expenses=$864
January Net Loss = ($533)
YTD Income =$10,660
YTD Expenses=$7,633
YTD Net Gain = $3,027
------------------------------------------------------------------------------------------------
Treasurer's report, 1/9/2011, Valerie Lester
December Income = $3,075
December Expenses =$1,111
YTD Income = $10,262
YTD Expenses =$5,976
Account balances:
Checking = $12,854
Sufferings = $997
------------------------------------------------------------------------------------------------
Treasurer's report, 12/12/2010, Valerie Lester
November Income = $280
November expenses = $991
YTD income = $7,297
YTD Expenses = $5,182
Available Reserves - $12,439
Meeting donated to AFSC & Holiday Food & Gift basket in December due to the generosity of Friends who earmarked contributions to these organizations.
I will bring the more detailed report to Meeting for Worship with a concern for business for anyone who cares to see the detail.
------------------------------------------------------------------------------------------------
Treasurer's report, 11/14/2010, Valerie Lester
October Income = $1,853
October Expenses = $819
YTD Income = $6,872
YTD Expenses = $4,641
Current reserves = $12,518
Sufferings Fund = 997
OPFM made a $50 donation to PADS from money donated to our dinner in excess of expenses.
Friends wishing to donate by direct deposit may set that up with their bank, the treasurer can provide the information needed from Community Bank.
------------------------------------------------------------------------------------------------
Finance Committee Meeting, Oct. 30, 2010
Ministry & Oversight asked Finance Committee to consider a "pledge campaign" as a way to close the budget gap. We met today and reviewed this request, along with the solicitation letter from Lake St Church of Evanston. We feel that a campaign would be appropriate with clearly outlined goals (both $ and the benefits the dollars would enable if raised) as was done in their solicitation.
This brings us back to Ministry & Oversight to help us outline goals that will inspire a renewed commitment to our Meeting. We offer these as a starting point for our joint work.
Support the children's religious ed staff position initiated to increase family/children attendance
Focus on in-reach to enable our community to identify problems/conflicts, and to address them in a spirit-led way to build trust and nurture our spiritual development.
Reinstate contributions to Quaker and community service groups.
We will attend Ministry & Oversight to further season this way forward.
Judy Erickson & Valerie Lester
Oak Park Friends Meeting Finance Committee
------------------------------------------------------------------------------------------------
Treasurer's Report, 10/10/10
Sept Income = $380
Sept Expenses = $379
YTD Income = $5,333
YTD Expense = $3,233
Checking Acct Balance = $12,336
Sufferings Fund Balance = $997
------------------------------------------------------------------------------------------------
Treasurer's Report, 8/8/10
Please submit all requests for funds to Valerie soon as the proposed budget will be presented at the September meeting
---------------------------------------------------------------------------------------
Ad Hoc Joint Committee of OPFM Children’s Religious Ed. and Finance committees to decide Process for Hiring and Review of C.R. E. Employee, July 30, 2010
MINUTES
In Attendance: Sue Beckman, Judy Erickson, Kelly Maynard (convener/recorder), Sarah Shirk, Pam Timme, Val Lester, Wil Rutt
0. In lieu of Silence, prior to discussion of business, we played an empathy game.
1. We began with a review of recent decisions and actions by both committees.
2. We agreed we will hire the Teacher (Amanda) on a month-to-month basis, and reevaluate the continued need for a teacher in May, approximately one year in the future. The Teacher (Amanda) will be paid once monthly, on the last Sunday of each month, by the Treasurer. The Teacher’s salary is U.S. $100 per month. The Treasurer will subtract any required withholding from that amount and send that and the necessary matching payments to FICA.
3. The C.R.E. committee will oversee the Teacher’s discharge of her duties. For example, the C.R.E. committee will approve her curriculum. In order to ensure the Teacher is fulfilling the terms of her employment agreement (to attend at least 80% of all Meetings for Worship, from 9:45-11:45) The Membership Recorder (currently Wil Rutt) will record her attendance.
4. The Teacher has requested that any children arrive directly to her (upstairs) and then at 10:50 towards the end of Meeting for Worship, she will bring the children into the Meeting. It is the duty of the Greeter to inform any children/their caregivers who arrive of this arrangement. Since the Greeter is an alternating duty of us all, this information will be announced at the rise of Meeting for the next few weeks and Judy E. will put an announcement on the webpage.
5. One of the terms of our new liability and worker’s compensation insurance for an employee, we must put up a poster with the contact information of the insurance agent. Someone will need to contact him soon after any accident. We will put this amongst our First Day School belongings. Keep in mind in a real emergency call 911 first!
-----------------------------------------------------------------------------------------------
Finance Committee meeting, Thursday June 24, 2010
Attendees: Valerie Lester, Clerk/Treasurer, Patricia McMillen, Pam Timme
Children’s Religious Ed - It was the clear sense of the Finance Committee that Amanda should be treated as an employee of Oak Park Friends Meeting. By doing so we understand that
• this will require Meeting to handle withholdings for Social Security and Medicare. Our intention is that these withholdings are in addition to her take-home pay of $100/month (her pay will be “grossed up”). Valerie will work with Judy to understand how to handle each pay period as well as quarterly and annual reporting;
• Meeting will need to add a Teacher’s Liability endorsement to our insurance policy. Valerie has requested a quote;
• We are probably required to have workers comp. State Farm is not willing to write this for us because they “can’t control what she will be doing the rest of the workweek”. They suggest we check with legal counsel and if necessary go through Illinois Assigned Risk Program. Patricia will follow up to get legal advice.
Finance believes that an employee should have a responsible individual or Committee who handles oversight. We raise this concern to Meeting to determine how this will be handled.
Preliminary 2010/11 Budget - In prior years Oak Park Friends Meeting donations have been quite stable as a whole (although varied greatly by individual). In 2009/10, our donations to Meeting dropped from $11,000 +/-$300 to $8,396. This is in part caused by a drop in attendance and possibly personal economic concerns. In 2009/10, Oak Park Friends spent $1,759 more than we generated.
In preparation for the new fiscal year, the Treasurer drafted a preliminary budget (have not yet received input from committee clerks on their needs/wishes), attached. It shows that at current income levels, Meeting will not have the income to cover Operating and expected Committee expenses without spending reserves before any donations to outside organizations. It is the recommendation of Finance that we wait until midyear to determine how donations are coming in to determine whether we have the financial flexibility to make donations this year. After the Treasurer gets input from Committees on their budget needs, a budget will be submitted for approval at the September Meeting for Business.
Visit to Community Bank - Patricia & Judy visited Community Bank to understand more about how Socially Responsible they are. Community Bank is privately held and as a result, less information is publicly available.
The sense of their investigation is that the bank’s investments cause no concern. They are managed quite conservatively and as a result have weathered the financial crisis in better shape than other small banks. (Our money is safe). They avoided the high risk mortgage fiasco.
They are high profile with local non-profits and have initiated a NFP networking group for bank clients which are NFPs At previous meetings, the Community Bank NFP network group has (for example) shared information as to bookkeeping for NFPs, explored the possibility of “shared purchasing” of office and similar supplies, and the like. Patricia has asked that Oak Park Friends be added to this group. This would require that someone from Friends Meeting attend networking group meetings.
Community Bank is increasing their outreach to neighboring communities (Austin, Maywood & Berwyn) in partnership with Operation Hope (www.operationhope.org). This program includes financial education. Community Bank also has a “forced savings Program” with low interest loans/loan consolidation to facilitate low income clients’ qualification for home/commercial mortgages.
Our recommendation is to keep our reserves with Community Bank at this point.
---------------------------------------------------------------------------------------
Presented on May 9, 2010:
Finance Committee. In addition to the written report (see below), Patricia McMillen reported in Valerie's absence that there was a significant change to the Domini Money Market Fund in which OPFM recently invested our surplus funds. At the time of the decision to invest, the Domini MMF had its investments in Shorebank, which does microlending in low income businesses and neighborhoods in Chicago, among other places. However, it announced it had pulled its funds out of Shorebank and into a conventional bank. The Finance Committee decided to take its investment back and return it to Community Bank, which has been done, until some other investment decision is made.
Treasurer's report:
April Income = $415
April Expenses = $1,404
YTD Income =$9,702
YTD Expenses = $11,704
Donations to Meeting are down vs last year through April -$3,837
Reserves: Meeting General funds = $10,167
Sufferings Fund = $998
------------------------------------------------------------------------------------------------
Treasurer’s Report, April 11, 2010, given by Valerie Lester
3rd Month Income =$879
3rd Month Expenses = $259
YTD June 1-April 4 Income = $8,841
YTD Expenses = $10,409
Current Assets
Checking = $10,588 ($9,000 to move to Domini Money Market)
Sufferings Fund = $997
PAX Account emptied. Application complete for Money Market.
IYM Building Fund contribution - at the beginning of the year, Oak Park Friends decided to hold off making a $500 Building Fund contribution to IYM to see how income came in through the year. Due to current year deficit spending and OPFM's support of the increased assessment (to cover maintenance of the expanded property), I recommend that we do not make this contribution. Action: Meeting concurs with treasurer recommendation and the additional $500.00 contribution to IlYM Building fund will not be made this year.
Clarification given that Patricia McMillen and Valerie Lester are signatories for the Domini Money Market fund.
-----------------------------------------------------------------------------------------------
Presented on March 14, 2010:
Treasurer’s report: Donations decreased 28% from last year, expenses up 3%, sufficient reserves exist at this time to continue OPFM work. Detailed report appears following these Minutes.
Finance committee: Socially responsible investment options explored. As current checking account earns minimal interest, group explored new options, considering
Liquidity
Safety and security
Consistency with Quaker values – supporting positive work
Recommendation: Invest in Domini Social Investments Money Market Account – which invests in community development related to housing, small business, etc in cities such as Chicago and Detroit.
Recommendation approved.
Tax free letter for meeting has been updated and is available from the Treasurer.
------------------------------------------------------------------------------------------------
TREASURERS REPORT, March 14, 2010, by Valerie Lester, Treasurer
Feb Income = $687
Feb Expenses = $1,552
YTD Income =$8,094
YTD Expenses = $10,052
Current reserves = $11,276 including Sufferings Fund of $997
------------------------------------------------------------------------------------------------
Minutes of Finance Comm Meeting, 2/20/10, Judy E, Patricia M & V Lester in attendance
Patricia McMillen researched many Friendly investment options including socially conscious funds, micro lending, community investments, Lakota Funds,…
In evaluating the options, the Finance Committee agreed to 3 principles:
Liquidity – we want our reserves to be available when the Meeting needs them
Safe – we want to preserve principal, and will accept low to modest returns in order not to risk the resources Friends have entrusted to us
Quaker values – we exclude options that are inconsistent with our values, and seek options that can actively support Friendly values (but only if they meet the other two criteria).
Based on these criteria, we recommend investing $9.000 in a Domini Social Investments Money Market Account. The assets of this Account are deposited with ShoreBank where they are lent to ShoreBank customers for a variety of community development purposes, including: rebuilding neighborhoods, creating self sufficiency and jobs, securing decent homes, and financing small business. ShoreBank is America’s first & leading community development and environmental banking corporation. Founded in 1973, with $2.4B in assets, they focus on quality affordable housing and jobs in underserved neighborhoods in Chicago, Cleveland & Detroit. They have pioneered providing resources & information to fuel environmentally friendly, sustainable development opportunities.
This Domini account has a minimum initial deposit of $2,500 and a continuing minimum balance of $2,500, and is FDIC insured up to $250,000. Current rates are .5%, set monthly and subject to change (above the current .05% at Community Bank). There is a $500 minimum withdrawal. Because of these restrictions, we recommend maintaining our checking and savings (Sufferings Fund) accounts at Community Bank of Oak Park River Forest.
We had good discussion around micro lending, and think it might be a good option for Quaker Outreach to replace or supplement the donations we make each year.
We thank Patricia for her research!
April Income = $86o
April Expenses = $566
YTD Income = $12,084
YTD Expenses = $11,457
May is the final month of the Fiscal year - Anyone with expenses, please submit requests for reimbursement or an advance to avoid carrying over expenses into next Fiscal year.
------------------------------------------------------------------------------------------------
Treasurer's Report, April 2011, Valerie Lester
March Income = $200
March Expenses = $905
YTD Income = $11,434
YTD expenses = $9,986
All approved contributions made. The Fiscal year ends May 31. Committees or individuals with expenses are encouraged to submit receipts.
------------------------------------------------------------------------------------------------
Treasurer's Report, 3/13/2011, by Valerie Lester
February Income = $472
February Expenses: = $2,260
Most of the contributions were made in Feb. $425 remain to be made in March.
YTD Income = $11,123
YTD Expenses = $9,006
Checking acct balance - $12,470
Sufferings Fund = $997
------------------------------------------------------------------------------------------------
Treasurer's Report, 2/20/2011, by Valerie Lester
January Income=$331
January Expenses=$864
January Net Loss = ($533)
YTD Income =$10,660
YTD Expenses=$7,633
YTD Net Gain = $3,027
------------------------------------------------------------------------------------------------
Treasurer's report, 1/9/2011, Valerie Lester
December Income = $3,075
December Expenses =$1,111
YTD Income = $10,262
YTD Expenses =$5,976
Account balances:
Checking = $12,854
Sufferings = $997
------------------------------------------------------------------------------------------------
Treasurer's report, 12/12/2010, Valerie Lester
November Income = $280
November expenses = $991
YTD income = $7,297
YTD Expenses = $5,182
Available Reserves - $12,439
Meeting donated to AFSC & Holiday Food & Gift basket in December due to the generosity of Friends who earmarked contributions to these organizations.
I will bring the more detailed report to Meeting for Worship with a concern for business for anyone who cares to see the detail.
------------------------------------------------------------------------------------------------
Treasurer's report, 11/14/2010, Valerie Lester
October Income = $1,853
October Expenses = $819
YTD Income = $6,872
YTD Expenses = $4,641
Current reserves = $12,518
Sufferings Fund = 997
OPFM made a $50 donation to PADS from money donated to our dinner in excess of expenses.
Friends wishing to donate by direct deposit may set that up with their bank, the treasurer can provide the information needed from Community Bank.
------------------------------------------------------------------------------------------------
Finance Committee Meeting, Oct. 30, 2010
Ministry & Oversight asked Finance Committee to consider a "pledge campaign" as a way to close the budget gap. We met today and reviewed this request, along with the solicitation letter from Lake St Church of Evanston. We feel that a campaign would be appropriate with clearly outlined goals (both $ and the benefits the dollars would enable if raised) as was done in their solicitation.
This brings us back to Ministry & Oversight to help us outline goals that will inspire a renewed commitment to our Meeting. We offer these as a starting point for our joint work.
Support the children's religious ed staff position initiated to increase family/children attendance
Focus on in-reach to enable our community to identify problems/conflicts, and to address them in a spirit-led way to build trust and nurture our spiritual development.
Reinstate contributions to Quaker and community service groups.
We will attend Ministry & Oversight to further season this way forward.
Judy Erickson & Valerie Lester
Oak Park Friends Meeting Finance Committee
------------------------------------------------------------------------------------------------
Treasurer's Report, 10/10/10
Sept Income = $380
Sept Expenses = $379
YTD Income = $5,333
YTD Expense = $3,233
Checking Acct Balance = $12,336
Sufferings Fund Balance = $997
------------------------------------------------------------------------------------------------
Treasurer's Report, 8/8/10
Please submit all requests for funds to Valerie soon as the proposed budget will be presented at the September meeting
---------------------------------------------------------------------------------------
Ad Hoc Joint Committee of OPFM Children’s Religious Ed. and Finance committees to decide Process for Hiring and Review of C.R. E. Employee, July 30, 2010
MINUTES
In Attendance: Sue Beckman, Judy Erickson, Kelly Maynard (convener/recorder), Sarah Shirk, Pam Timme, Val Lester, Wil Rutt
0. In lieu of Silence, prior to discussion of business, we played an empathy game.
1. We began with a review of recent decisions and actions by both committees.
2. We agreed we will hire the Teacher (Amanda) on a month-to-month basis, and reevaluate the continued need for a teacher in May, approximately one year in the future. The Teacher (Amanda) will be paid once monthly, on the last Sunday of each month, by the Treasurer. The Teacher’s salary is U.S. $100 per month. The Treasurer will subtract any required withholding from that amount and send that and the necessary matching payments to FICA.
3. The C.R.E. committee will oversee the Teacher’s discharge of her duties. For example, the C.R.E. committee will approve her curriculum. In order to ensure the Teacher is fulfilling the terms of her employment agreement (to attend at least 80% of all Meetings for Worship, from 9:45-11:45) The Membership Recorder (currently Wil Rutt) will record her attendance.
4. The Teacher has requested that any children arrive directly to her (upstairs) and then at 10:50 towards the end of Meeting for Worship, she will bring the children into the Meeting. It is the duty of the Greeter to inform any children/their caregivers who arrive of this arrangement. Since the Greeter is an alternating duty of us all, this information will be announced at the rise of Meeting for the next few weeks and Judy E. will put an announcement on the webpage.
5. One of the terms of our new liability and worker’s compensation insurance for an employee, we must put up a poster with the contact information of the insurance agent. Someone will need to contact him soon after any accident. We will put this amongst our First Day School belongings. Keep in mind in a real emergency call 911 first!
-----------------------------------------------------------------------------------------------
Finance Committee meeting, Thursday June 24, 2010
Attendees: Valerie Lester, Clerk/Treasurer, Patricia McMillen, Pam Timme
Children’s Religious Ed - It was the clear sense of the Finance Committee that Amanda should be treated as an employee of Oak Park Friends Meeting. By doing so we understand that
• this will require Meeting to handle withholdings for Social Security and Medicare. Our intention is that these withholdings are in addition to her take-home pay of $100/month (her pay will be “grossed up”). Valerie will work with Judy to understand how to handle each pay period as well as quarterly and annual reporting;
• Meeting will need to add a Teacher’s Liability endorsement to our insurance policy. Valerie has requested a quote;
• We are probably required to have workers comp. State Farm is not willing to write this for us because they “can’t control what she will be doing the rest of the workweek”. They suggest we check with legal counsel and if necessary go through Illinois Assigned Risk Program. Patricia will follow up to get legal advice.
Finance believes that an employee should have a responsible individual or Committee who handles oversight. We raise this concern to Meeting to determine how this will be handled.
Preliminary 2010/11 Budget - In prior years Oak Park Friends Meeting donations have been quite stable as a whole (although varied greatly by individual). In 2009/10, our donations to Meeting dropped from $11,000 +/-$300 to $8,396. This is in part caused by a drop in attendance and possibly personal economic concerns. In 2009/10, Oak Park Friends spent $1,759 more than we generated.
In preparation for the new fiscal year, the Treasurer drafted a preliminary budget (have not yet received input from committee clerks on their needs/wishes), attached. It shows that at current income levels, Meeting will not have the income to cover Operating and expected Committee expenses without spending reserves before any donations to outside organizations. It is the recommendation of Finance that we wait until midyear to determine how donations are coming in to determine whether we have the financial flexibility to make donations this year. After the Treasurer gets input from Committees on their budget needs, a budget will be submitted for approval at the September Meeting for Business.
Visit to Community Bank - Patricia & Judy visited Community Bank to understand more about how Socially Responsible they are. Community Bank is privately held and as a result, less information is publicly available.
The sense of their investigation is that the bank’s investments cause no concern. They are managed quite conservatively and as a result have weathered the financial crisis in better shape than other small banks. (Our money is safe). They avoided the high risk mortgage fiasco.
They are high profile with local non-profits and have initiated a NFP networking group for bank clients which are NFPs At previous meetings, the Community Bank NFP network group has (for example) shared information as to bookkeeping for NFPs, explored the possibility of “shared purchasing” of office and similar supplies, and the like. Patricia has asked that Oak Park Friends be added to this group. This would require that someone from Friends Meeting attend networking group meetings.
Community Bank is increasing their outreach to neighboring communities (Austin, Maywood & Berwyn) in partnership with Operation Hope (www.operationhope.org). This program includes financial education. Community Bank also has a “forced savings Program” with low interest loans/loan consolidation to facilitate low income clients’ qualification for home/commercial mortgages.
Our recommendation is to keep our reserves with Community Bank at this point.
---------------------------------------------------------------------------------------
Presented on May 9, 2010:
Finance Committee. In addition to the written report (see below), Patricia McMillen reported in Valerie's absence that there was a significant change to the Domini Money Market Fund in which OPFM recently invested our surplus funds. At the time of the decision to invest, the Domini MMF had its investments in Shorebank, which does microlending in low income businesses and neighborhoods in Chicago, among other places. However, it announced it had pulled its funds out of Shorebank and into a conventional bank. The Finance Committee decided to take its investment back and return it to Community Bank, which has been done, until some other investment decision is made.
Treasurer's report:
April Income = $415
April Expenses = $1,404
YTD Income =$9,702
YTD Expenses = $11,704
Donations to Meeting are down vs last year through April -$3,837
Reserves: Meeting General funds = $10,167
Sufferings Fund = $998
------------------------------------------------------------------------------------------------
Treasurer’s Report, April 11, 2010, given by Valerie Lester
3rd Month Income =$879
3rd Month Expenses = $259
YTD June 1-April 4 Income = $8,841
YTD Expenses = $10,409
Current Assets
Checking = $10,588 ($9,000 to move to Domini Money Market)
Sufferings Fund = $997
PAX Account emptied. Application complete for Money Market.
IYM Building Fund contribution - at the beginning of the year, Oak Park Friends decided to hold off making a $500 Building Fund contribution to IYM to see how income came in through the year. Due to current year deficit spending and OPFM's support of the increased assessment (to cover maintenance of the expanded property), I recommend that we do not make this contribution. Action: Meeting concurs with treasurer recommendation and the additional $500.00 contribution to IlYM Building fund will not be made this year.
Clarification given that Patricia McMillen and Valerie Lester are signatories for the Domini Money Market fund.
-----------------------------------------------------------------------------------------------
Presented on March 14, 2010:
Treasurer’s report: Donations decreased 28% from last year, expenses up 3%, sufficient reserves exist at this time to continue OPFM work. Detailed report appears following these Minutes.
Finance committee: Socially responsible investment options explored. As current checking account earns minimal interest, group explored new options, considering
Liquidity
Safety and security
Consistency with Quaker values – supporting positive work
Recommendation: Invest in Domini Social Investments Money Market Account – which invests in community development related to housing, small business, etc in cities such as Chicago and Detroit.
Recommendation approved.
Tax free letter for meeting has been updated and is available from the Treasurer.
------------------------------------------------------------------------------------------------
TREASURERS REPORT, March 14, 2010, by Valerie Lester, Treasurer
Feb Income = $687
Feb Expenses = $1,552
YTD Income =$8,094
YTD Expenses = $10,052
Current reserves = $11,276 including Sufferings Fund of $997
------------------------------------------------------------------------------------------------
Minutes of Finance Comm Meeting, 2/20/10, Judy E, Patricia M & V Lester in attendance
Patricia McMillen researched many Friendly investment options including socially conscious funds, micro lending, community investments, Lakota Funds,…
In evaluating the options, the Finance Committee agreed to 3 principles:
Liquidity – we want our reserves to be available when the Meeting needs them
Safe – we want to preserve principal, and will accept low to modest returns in order not to risk the resources Friends have entrusted to us
Quaker values – we exclude options that are inconsistent with our values, and seek options that can actively support Friendly values (but only if they meet the other two criteria).
Based on these criteria, we recommend investing $9.000 in a Domini Social Investments Money Market Account. The assets of this Account are deposited with ShoreBank where they are lent to ShoreBank customers for a variety of community development purposes, including: rebuilding neighborhoods, creating self sufficiency and jobs, securing decent homes, and financing small business. ShoreBank is America’s first & leading community development and environmental banking corporation. Founded in 1973, with $2.4B in assets, they focus on quality affordable housing and jobs in underserved neighborhoods in Chicago, Cleveland & Detroit. They have pioneered providing resources & information to fuel environmentally friendly, sustainable development opportunities.
This Domini account has a minimum initial deposit of $2,500 and a continuing minimum balance of $2,500, and is FDIC insured up to $250,000. Current rates are .5%, set monthly and subject to change (above the current .05% at Community Bank). There is a $500 minimum withdrawal. Because of these restrictions, we recommend maintaining our checking and savings (Sufferings Fund) accounts at Community Bank of Oak Park River Forest.
We had good discussion around micro lending, and think it might be a good option for Quaker Outreach to replace or supplement the donations we make each year.
We thank Patricia for her research!
