Merthyr Tydfil Ministry Area Annual Report- 2024 Contents Page l. Independent Examinerfs Report 2. Trustees Annual Report 3. Statement of Financial Activities 4. Statement of Financial Position 5. Notes to the Accounts 10 11-19 INDEPENDENT ENiif*llNER'S RF.PORT TO THF. TRIISTEESOF IILRI'HI'R"I'I'Dfr"IL %IIYISTRI' ,IRE. lthdependent examiner's report to the trustees of Merthvr T}dfil Ministrv Area I rep()rt to th¢ charity tru5te¢s on rn> examination of the accounts of Menhyr T}dfil Ministrj Area Itlie Trusil for the year ended 31 December 20?4. Responsibilities and basis of report A% tlie charit). Ifusiee5 of the Trust you are responsible for the prep2ralion of the accounts in accordance with the requirenients of the Charirie5 Act ?01 I I'the .4ct'l. I rep()rt in respect of my examination of the Trusi's accounts carried out under Section 145 of the Aci and in carrying oul my examination I have followed all applicable Directioiis given by the Charity Cornnii5sion under Seciion 14515llbl of the Act. lTrilei)endtbnt ¢i#miner'5 St#t¢m¢nt I have completed m) examinaiion. I confim that no material tnatters have come to my attention in connection with the eNaiMiiiation givin¥ me ¢au.%e io believe thai In any material respeci.. accounting rtCOTds ￿'¢re not kept in re5pe¢t of the Trust as reqllired by Section 130 of the Act. or the accounts do not accord with those records.. or the accounts do not comply ￿1th the applicable requirements concerning the fomi 4tnd content of accounts set out iii the Charitie5 (Accounts and Report51 Regulations ?008 oiher than any requirenienl that the accounts gTjI'e a irue and fair view which is not a mailer considered as part of an independent examination. I liave no coiicerns and haN'e corne acro55 no other matiers in connection with the exarnination to ￿h1¢h attention should be drawn in this report in order lo enable a propcr understanding of the a¢oounis 10 be reached. Richard Knoyle ACA FCCA Baker knoyle Charttred Accountants Orbit Business Cenire Mcrtlijr Tydfil CF48 1 DL Dale.. 2911012025 REPORT OF THE TRUSTEES FOR THE YEAR ENDED 31 DECEMBER 2024 The trustees present their report with the fi'nancial statements ol the charity for the year ended 31 December 2024 The trustees h3ve adopted the provisions of Accounting and Reporting by Charities". Statement of Recommended Practice applicable to charibes preparing their accounts in 3ccord3nce with the Financial Reporbng Standard 3pplic3ble in the UK and Republic of Ireland IFRS 1021 leffecbve I january 20191. OBJECTIVES AND ACTIVITIES Objectives and aims The aim of the charity is the promotion of the whole mission of the Church, pastoral, evangelistr'c, social, and ecumenical, especially within the context of our parish boundarie5. Signih'cant activities for the public benefit The Ministry Area Council (MACI is committed to enabling as many people as possible to attend worship and other activities at our church, Seeking to enable people of all backgrounds and demographic5 lo become part of our parish community. To enable each church to do this most effectively, we have assembled local group5 to oversee each church to enable them to tailor what they do fi)r their unique communities. Our service5 of worship promote and build Christian faith within the community through prayer, music, scripture, teaching, and communion. When planning our activitr'es for the year, the clergy and the MAC have considered the Commission's guidance on public benefit and, in particular, the specific guidance on charities for the advancement of religion. In particular, we try to enab5e ordinary people to live Dut their faith as part of our parish comrllunity thiough.. Worship and prayer,. learning about the Gospel,. and developing their knowledge and trust in Je5US. Provision of pastoral care for people living in the parish. Missionary and outreach work. Building a strong and welcoming communitv To facilitate this work, it is important that we maintain the fabric of our buildings, which are of 5ignifi.tant interest to our communit7es and important for our worship ènd mission. ACHIEVEMENT AND PERFORMANCE Worship witness We have continued to offer weekly opportunities for public worship at 7 of our churches throughout 2024, along with 3 mid-week services, one in the north, centre. and south of the parish. Attendance ha5 declined acr055 m05t of our churches, but where we have changed to a le55 formal vellue, or created a more informal style of worship we are seeing clear growth. Indicating this is an area to develop in the futLJre. For Sunday worship Church Christchurch. Pant St Tydhl's, Merthyr Tydlil St David's, Merthyr Tydlil St Mary's & The Holy Innocents, Merthyr Vale St john's Troedyrhiw Christ Church, Merthyr Tydfil 2023 13.9 26.7 36.9 11.6 2024 13.7 21.9 29.1 10.6 Change 29.7 34.2 Mid-week Services Christchurch, Pant St David's, Merthyr Tydfil St Mary's & The Holy Innocents, Merthyr Vale 10.2 15.1 (Please note we are in the process of digitalising all the date so next year's report should provide more accurate figures.) Prayer meetin85 are run weekly within one of our churches for the communities served by the MA and for the whole world. We have continued to provide services marking key moments in people's lives, such as christenings. weddings. and funerals. Overall, these are decreasing, although we are still seeing significant numbers. We are also providing opportunities for remembering those who have been loved alld105t, and marking the joyFul things in life, such as pets through animal 5ervice5, and Chri5tma5 through carol services, and all aged gatherings. These novel services seem to be well attended, attractr.ng primarily those from outside the church. We have continued to make provision for discipleship through ongoing teaching and the running of the 'Bible Course,. Our church buildings are of great interest to the communities and provide us with a base to work out from for worship Bnd rni55ion into the communities we serve. We have worked to keep thern in a safe condition. However, we are finding this to be increasingly llnsustainable, with some of our bLJildings requiring significant investment. Supportrng t7nd engoging with locttl community The 'St David's Baby Bank,, provides e55ential supplies for low-income familie5 Wlth children up to 3 years. This has built connectt.ons with the local authority and social services and has provided for IOO'S of families so far. We continue supporknng local schools through leading assemblies, workshop5, and supporting their governance. Supporting commtjnity groups, Brownies, the, Air Training Corps,, Weight Watchers, and other Christian congregations. through the use of our facilities or volunteers. We have continued supporting community groups such a5 the 'Food Bank,, and the Mendicants through donations of SLJpplies andlor monev. We have introduced a f￿e counselling Service offered by a qualified counsellor out of Christ Church for those who approach the church for help. struggling with their mental health. this ha5 offered a small number of people significant support, with some beneficiaries having received over 100 hours of free counselling. We also continue to host civic events such as the mayor'5 induction and Remembrance Sunday, which sees l￿'S of people attending. Supporting the globul mission of the church. As part of our mission, we also support worldwide missions and have made donations to 'Compas5ion International,, and the 'lnternational Mission to Jewish People, A mission awareness service was held. showcasing global mission organisations, introducing people to the organisation5 and giving information on how to support them. Community building ctctrvities Community is an important part of our life together a5 Christians and for our mission. To help us with this we ran garden parheslafternoon teas at different locab'ons, a weekly knitter-natter group, a weekly crafts group, weekly coffee drop-in5, and an Agape feast for all our church communities. Fund roising Christmas & summer F3yres, afternoon Tea, concerts, and a Quiz provided opportunities to raise funds to support our work. Prepuring a new woyforword Aware that WÈ are not engaging the community as well as we used to, and the increased pressure5 caused by finances and a volunteer shortage, we have recognised the need to adjust how we operate. for this reason, Significant time has been spent this year discussing and planning a new way forward for us as a ch3rity to enable us to better achieve our charitable aim5, these conversations and planning will continue into next year. Volunteers All groups are run by volunteers, and they provide many backup services and engagements with the local community. We had an estimated 56 volunteers. FINANCIAL REVIEW Financial position During the year, MMA received a total income of.. £237,234. Of this £237,139 related to unrestricted income and £95 of restricted income. Primary sources of income included Planned Giving and donations, totalling £120,019, gift aid totalling £38,918, grants totalling £4.794, fundraising activities totalling £27,910, weddin£ and funeral fees etc of £24,656. dividend51investment income of £2,170 and other Income of £18,768. Total costs for the year were £258,861. Of this, £129,644 15 related to the Parish Share to the Diocese. For the year to 31st December 2024, the charity incurred a net deficit of £21,627. STRUCTURE, GOVERNANCE AND MANAGEMENT Governing document The charity is controlled by its governing document, a deed of trust and constitutes an unincorporated charity. The Consb'tution of the charity was adopted on 22nd June 2023. The Ministry Area is an unincorporated charity, registered in England & Wales with the Charity Commission. The Ministry Area is an amalgamation of local churches as part of the Diocese of Llandaff of the Province of the Church Wales. It 15 (J Christion Church comprising theformer parishes of.. Troedyrhiw Merthyr Vale. Merthyr Tydfil Christ Church, Dowlais and Penydarren. Merthyr Tydtil St. David's & Abercannaid. The Merthyr Ministry Area is governed by a Ministry Area Council IMACI consisting of 14 Trustees, both Lay and Clerical. The MAC is supported by sub-committees which deal with.. M ission,. Children and Young People,. Finance,. Fundraising.. Buildings,. Pastoral Matters., and Fellowship. Recruitment and appointment of new trustees Trustees are appointed on a voluntary ba51S to the Ministry Area Committee IMAC). Lay Trustees are appointed by vote of members of the electoral roll at the Annual Vestry Meett'ng, or co-opted by the MAC at subsequent meetings. The clergy who are licenced with the cure-of-50uI to the Ministry Area by the Bishop. are ex offi.cio member5. Throughout the year we continued to develop the safeguard, extending training to subcomrnittee members, and the wider volunteer pool. Towards the end of the year, several policies were proposed. However, it was felt that these were inadequate and needed to be reworked. In the interim, we have contr'nued to follow the standard policies of the CIW, in places, extending this to include policie5 which had been accepted by the former parishes that constituted this mirii5try 3rea. these include.. Complaints handling Complaints policy and procedures Conflicting intere5t5 Internal risk management policy and procedures Risk management Safeguarding policy and procedures Safeguarding vulnerable beneficiaries Serious incident reporting policy and procedures Social media policy and procedures Trustee conflicts of interest policy and procedures Trustee expenses policy and procedLJres Volunteer management In the final months of the yeèr, we became GDPR registered and accepted a new GDPR policv. At the end of the year, the M inistry area leader stood down with no formal replacement Set to take over. REFERENCE AND ADMINISTRATIVE DETAILS Chority Nome.. MERTHYR TYDFIL MINISTRY AREA Registered Chority number.. 1203686 Charity Principle Addrgss.. Mandian House Brondeg Heolgerrig Merthyr Tydfil Merthyr Tydfil CF48 ITW Trusteesfrom Muy 2024.. Nome Date of Appointment 18 May 2025 28 April 2024 28 April 2024 28 April 2024 28 April 2024 28 April 2024 28 April 2024 28 April 2024 28 April 2024 24 April 2024 23 April 2023 Susan Morri5 Barbara Edwards Rev Caroline Owen Matthew Jones Elaine Fisher Rev Stephen Barnes Lynne Green Carole lones Rev Marc-Ashton Walford Clive lones Dorothy Evans Non-Trustee members of the MAC Rev Mark Prevett Eileen Willi3m5 Marian PTice Ken Lewis Signed on behalf of all the Trustees, Matthew Jones Chairperson 2911012025 Rev. Marc-Ashton Walford Ministry Area Leader Merthyr Tydfil Ministry Area Statement of Financial Activities for the Year to 31st December, 2024 Noies I-n￿￿triCIt￿ Restricte rund fund5 Pritsr vtar funds Incoming resource5 In¢i)m¢ enJ￿￿'mentS from.. Donations and lÈg3tiÈs 163.7iO 24.650 27.910 2.076 18.70 163,730 176.662 27.910 2.170 18,768 237,234 27.5Q2 2.016 i8Q..)44 Inve51menls Oiher Income Toi81 95 237.139 61HJ07 Resources expendeil Exiiendiiure on: 2.47g 120,112 129,644 Y,104 160.7?2 115.630 Sep3r3tÈ matÈiialltem ol expense Other ExppndituiÈ Toiol 119.644 9.104 2.478 29Y.9.$2 Net intomellexpenditurel before investment gainslllossesl Nel ¥iiinsillvssebl on inl&lnienls Net inf omellexpenditurel ¥traOrdi￿ar}. items Ti'aTrsfers beth'eeTr fund (Iihei. I'eio¥ni5ed gainslllDsses1- Gains Ios%i5 rcN'alualion ur rix¢d ass¢ts fur lh¢ ¢h#riii s own Otlier gain£illossesl 119,2431 12,3831 121,6271 304,&iS 119343 12,3831 121.6271 304,XSS 119.2431 12,3831 121,6271 JIH,85.i Recon¢iliation of funds: Tvl411 funds brDi1￿￿t lon¥ard 227.197 77.658 75,27.5 304,855 283.228 304,84.fj Merthyr Tydfil Ministry Area Statement of Financial Position as at 31st December, 2024 Nofes Ilthrtsiriet¢(l Re$tri¢ied Total this funds funds e¥r Total la$t >ellr Fixed assets 'rangible assets In¥isiminis Tolfflfi.rvdff55eis 89.23J 9.233 63,337 89,233 Current #$set$ Oiher D¢biors C￿h ai baiik and iii hand Tolol ciirreiil us5Ets 12.6(0 187.6?0 200J86 12,666 199,$57 212,223 ?.?0.7?4 11,937 230.724 Creditor5: Amounts falling due within one year In 18.228 11S.228 currenl Os5¥￿¢1[￿blI1lié&) 182.059 11,937 193.996 Zl.f.612 Tulul less turreni liobiliiigs 207.954 75274 211J,221S J04,&fS Creditor5: amounts (#lling due ¥fter one yegr Toial nei assgis orlitsbiliii 207,954 2113.22 3th4,8f Funds of the Charity UTrre41ricled I￿ndS Restricted tundfi Rei'aluaiioii r¢strv¢ 207.95.3 227.197 77.658 7).275 7S275 207,953 283,228 304851 Signed nn behalf all the tru5tee5 Mdtthem, Iones Chairpersts 2911012025 t)ale ReN Marc-Ashione Walford Ifiniytn .4rea Leader 2911012025 Dale 10 Mcrtbyr TTr'dfil Ministry Are8 F*otes to tILe Finall¢i81 Siatements for the Year to 315t Decetnber, 2024 tdbelDw. Ihe IdErd BPph(ablrilltheUKaDcR(gyb]i¢rft(et￿J(￿ IQ21{Effth l 2019k lli¢fftithrtU#iRwri¥StsndJrd wlM¥bkinth¢UthJ ￿￿￿￿ROUbl￿or￿l1w￿￿xs lQ2k itbtheckntiesArt2011. Thecknty IQI TaDb4ble 5xed4S2¢ts¥èiOitally at￿￿tr¢￿[C￿ tol￿￿8 ItiDitswiEkE.-.8 The1¢￿]i￿Oll ]nei11(vJ lsus¢4fttwitt4u￿t1T￿FEr￿￿itofth¢fiwI￿ Of[rYu￿K￿eX￿IknSe￿kE￿d￿TX￿*￿n ondyllpa1rm¥Lt¢h￿8V5 (l)￿r¢￿ bvi1dings wjd aillych)￿d¥&B ve51d￿ thER¢rn7i￿.yb(tytf￿s0rQr(*Ip. WNk5￿￿￿￿￿diDfjnTY part?fthefjwla554softhsMinisiry Are hlov&*l¢Church¢oJMe*is r¥lu￿ èf*¥J'.tyfor05XMI. Nkn4[cbl￿IrIormknthi￿re1i￿b￿ci￿l OrvEiwtioTr￿seA#I* Iky are DeP￿Thd0 vtroRE UitknllAft 50yws Stsw8btLin2 t.2 Golrlgcollt￿ IJ NOl*￿i￿e5 IA m1tert￿ rThr3urtrrDn l A(C•unt4ngPDlki 2.1 InfoJn¢ Reco2•idon Dlkncqmc ThEspate io thesiwtfji ofFir4n¢ial A¢ovitts(WA}whgi thteli0ntybts￿es clllld£dtDtherew itism0relik￿Y thfm ￿￿t￿tL￿tr￿vI￿IITelXJ￿ thr￿￿r￿&and beeTr iiooffxllitiÈ(rf&ti43thMI rffjLiird(¥ bytheTrRS 102SORPA)rFRS IV2 GrXtttsNnd GNiLgknddDDHtko￿are￿inrl￿a￿ ￿tIlp$OFAth tr4e￿Ill￿￿￿e￿Q￿cn￿a￿e￿L*1j.IOto5.l2FRslQ2 50RP). i￿l￿dEd￿n IhESOFAwlwrewii%pr(l*that iiiifKtht TAXf¢<￿s￿¥ gin5 GIft￿d weiY4bki8 in¢￿1•310 frDmikFIMRCoDthBdonthl ADytsift Aid Ilmd￿ thtsittitiÈJdonLtb jD5uYaL¢¢¢￿￿1aye onfytrK￿￿i￿tsSOFAWh￿7thern￿￿￿¢mW*￿￿i￿￿￿B￿￿(S.1QtQ5.7I FRS102SORPIJTrda￿1￿(I￿j$￿ I￿￿0f llKom¢ tiLtheSoFA. Thi51ii¢lu4tSa'.iy realijtyt or oftheyA. E%pEndithn Li&bilities atpt*)AOisthI iiu p￿b￿¢*h￿tBtr Sbeth cthgsiW'jné#.Ie￿T￿g$lhat BggtgsLe￿l [[￿r&I￿ iotht¢¥¢sw Jwticularbpyd￿8￿ they b&vEbee &llocotedty a￿￿te$co8ba￿Jc0￿￿t￿tW[th vATWhicbc￿ber￿fft￿￿ 15 [¥PtsLtst￿ pirttsfth¢¢xpe*dllurt ro wtsich itrthles. Th(￿rity15 Th4 eknanty No Itithrial item ofdekned w¢l*Ee iwJLthI ￿tbe9Cc(M￿ CrEditorn PTrvisiiinJ for1￿bIllI¢s TEpornn￿d￿ 3J T￿n￿bl*r￿¢￿￿stts vseby Aa5tts Cliutches.rh￿rClYLTdI￿ MOv*th]Ech￿Ch ￿￿1￿￿1*ein￿T¢Q1blt￿Wa￿lrwr￿TY r￿th￿X)S&Tr. v￿vare￿￿￿r rwwbKIIAorel""thktt6tWvduatioD.b￿e5 Thtya nOTre(wtsd￿th0 V￿£b5￿. EwthWtethithw(ths'm¢1￿￿￿C1￿teThtsj. thurchy£rJs Bo￿0 ot 2.5 Rthted RE2ylWW￿n¥y I￿a￿￿E￿ons￿rnts tobudi theIrsJz¢￿dJth￿E￿lld Giftsill Klnd bYth￿ 13 T•tA] fu Pdorytsr dB 3 Anlllyyts ofIn¢omt 17J.019 120,019 38,918 Oift Aid 13.680 176,662 163,73 C￿&￿tA￿leA¢llWllkn5 Trocesan kib&Ee .636 24,656 24,656 24A OtherTrAdkn¥Acth*llks 27.91Q 17,>1 27.502 348,36E Qxtser 1&768 14768 4Q078 4tr1,846 D￿ld￿nds￿nye$tMemknrAry 95 3,17 237.231 Told1[t￿lj 95 04,W7 Ltstycar TotsIfunth ru• rundy 81Skn8lunas *ttIwiti GFng-.8lPat￿h&Xp￿StS WBies M8intenarntÉ tslC*wches Malntgnanr8 llfutharprww MglntFnanca DfSenAcE5 M15sion?aYbh MISsI(￿..HomÈ￿0rtd ot￿rI*l7￿5￿ysU￿￿rt ParDthlalExpen£esofCtr 1&th)5 24.759 1,884 54036 127J 1gJ76 l478 6Q.414 5345 5.188 &iss 55Q 1.049 1.049 IA147 11191 i[￿y24 1478 160.722 A?9,644 129,644 129,& 135,630 9.ID4 9.104 3.600 3,600 11.5 256J83 5 PiidE]ll 5.1 Staff Costs 5Al*r5¢s Sthr.B5 ww Thi%Y¢ar ￿61Ve$r S,￿0 TnGludEdmtkneAJ¢Ytis¢rnplJy￿s1￿(￿]l1 l)L% Ymr Cha¢iMbleALliyÈtiE3 stip￿d￿ry&rEyxe WxKlltuE￿lldSUfft1v1￿S1hcDK¥X4¢ CaiiYibuuoM ￿e￿￿￿ebythPth￿ity￿theDJ￿WbiCts￿￿PX￿d thd .rhwewetenDts￿L(￿V￿ll￿TrUSi• OrretthlpT￿In1h￿)￿ 14 O Sllppjrttmii &Truthtt S•wortC￿ts Jbtsyear Last Ytar 2,400 2AOTr 2.4(M) 3,6Q TruitEe'expEW Thtta fttthttyv4T pthJ31 I￿nb￿2￿14. Cuh& ¢Ath uhyl¢Dts Totsi 7.1 Fsxed AJyEtlllTknts .-ryiiJglknl ¥&iUe¥tbegDIw8ofp￿m 89WJ s9.￿3 33 81233 F*fr￿]ut FslrV•kne *t 31.112024 31.L22fj23 1glJ58 0.724 230.724 TE¢ 8 Dtb¢Dr8& Pre1￿Y￿￿ots Olherlkit(rt-Gth.4id receitth¢ ThkYe4r 145t Y￿r 12.6(6 11666 9 CAsh Th*Wear IA6tYtsr atknk￿onh￿1 Other 191.537 230,724 23fft724 'rhtJ Y￿r tV￿r ADWntsfallkn¥dxwl¢hth pney￿r 7.091 IQ.ODO 3.6 E%￿InerFeE5 2,4 I,V7 18J28 hts.Mi* I&I02 15 BE￿￿ 11 ChAtity br￿Jght In¢othe forwA fonyanl DOw1￿.5P￿o¢Ij¥]￿Ur￿Lc{XR￿1N￿3 ?IFund. Chnkt chiTr¢b.￿". Pmd. A115aillts ThLrydi4bdHFJL Dowkns hmj. Chutcb Cixfft fver￿ Fund. ChnstChirfi.trvw4ll Gtyi¢ril Fl￿d-M￿￿￿Tydfjl C•tyi fjenEd Fulld. s￿￿[￿1nd Pail1%Ch￿th￿&H•]L GenEt&lkné. StDuYA. V*TydfjJ ller&iFLfflC. StJatrnB￿*,TrO￿lyth'￿ CtTh¢rnl Fund. stMarytodHoty]Dr.￿s Mthv e￿ Fund. StTydfil. M*rDdfil 0ry4n Fbjlld. 5..Dav1￿MIrthjy Trd61 71 t1145 6.028 13.465 19.7Ql [24,71 0.753) {19&gJ> {3E.4U} (29J21> I2.￿7) (38.483) (19.129) 19,765) {52.669) 11,194) 2Q137 2{IDI J8.X7 39.852 3J28 13.187 113,0061 5.019 13J28 ify. 9388 5Q187 I6.405 8.8 46.JlQ 524 1.774 2,929 2.998 23.% Mk1b>rT)￿CbTI￿cburr1i(D¢¢¢rnIOll F￿dI SsDavi&sChUtch(BLthbtt¥&eL￿U8t￿cShM0) SlJobn BWSiTrttitythlw{Rtknr￿FW￿) 21,750 1223 227,1 237.139 207,953 REthktsl Suiidth8Ft¢se¢tFiiod. St htstyTyd 114771 55.484 55,484 cotF stlydfiL%We￿Tn￿￿No. 444IC}- SI￿ri[. MuthyTT) ristChuY¢h FuJd Subday SthoOlFoUnthty￿. SJ Ab¢r¢4nw6 6yS 15.62> 6￿45 95 95 237J34 TOTAL FUND5 218 16 fojva ir2.821 34.76] 179.3301 (21.9891 [482x1 19.928) 124.5151 4B.946 StJd".n Baptistr.T* P&rJ¢b ¢fDthry￿.ts stm￿&￿6￿￿ kno(gi StTvdfilsChutdi 5.I 68.194 10.594 9.288 2Q522 69.161 .030 27.148 2lJl8 {50282) {16.182) 121.Y301 The CliurthofStPew& MCrthyrTrdflM￿I*ryAr Merth)rT￿lChnSrChllTthlthwatVJn Find) SrD&vid'$Cliuir4BU￿dir.W& ConltDw*J#F￿￿) SIJOI￿ Tr(thyrbiw (p￿￿8t￿Fthl 10,9 21.73 21.no 5W14 1299,9 7.135 227.197 aLgWts Ctharity Fu• nFArd fonpfjrd PT¢UUJ rtfftptrl Re&tAttySFyty cOIFStrT￿ffls wd1sTnL￿N0444￿- ￿T)￿s￿￿￿￿TT￿lfi1 51484 5S,484 Ab￿￿r￿n￿ld Th￿￿TY￿￿￿￿￿[chuTth1CtI Ih)rTydfilThnstCkntscb StJdu". BWSL T￿¥1..1w (CI htsthYrTYd￿ch￿￿￿a￿Tth1CtWc*jH•) Patisb ofDOw￿lS (Nvwthjors) 15.629 15,629 14.1th) 6545 (3.tw) 6545 5.-Ul 77.&q8 TOTAL FUNDS F￿￿d￿￿￿p1i¢*[l￿Lt Cjtthrly. theknd v4h￿*¢ll]￿￿Pl. 17 PpYPOl¢zryd Rutrkllw¥ GeDtrnJFull c￿n￿chUr￿- P￿t￿LS￿ts Chur¢b HatLDow."ii% tknwklsPaT[Kh￿Ch￿￿1C￿i(1LCTh￿￿aIwd1. bL4C*rf SPP*&gandSI P￿1 alld Hdl,Stt>a)rf StJokn si Pthys StT)dtti. DE5lgDEkd.-uctsyewLw4ntth&wo￿X[ An3ly*rfDrs￿t*d F￿￿$ m￿Ity[TYdfil Chri¥ ChLrthlDW￿TrnF￿￿) srDavid%Chttrth c￿￿￿￿￿&R￿￿j) Si J(thSChU￿T5lWJW{R￿￿*wPwtd) 23.5QO 23JOD 46.4fj3 46.4fj3 ReBknictedVuD yrATrrfe￿ ￿tsYCro ThEfrebr&¢tm ￿9V￿bEe1)prO￿dE thdstcasbJDW Proj￿ (￿0¥￿(05P￿￿V¢bgsLI•￿dWc8VWkn)k*Jlh th¢¥pproW ofthetru*ee4 toftthd any proeLts w[i1￿￿the￿￿￿r￿SBw•I ITh th ther¢Jervewli7as uthcfiuf.ccRt Orpn￿￿lld- stDa￿d, MrrthyrTydNI Atdviti*S wSlb6D eacb m*lorrtslrid￿ fund 1)gr¢stTh￿ fyr.&oftrecbErityhÈ¥e M¢rthyrTythJl fbvWt￿￿r£b{OryInFUN￿) ¢8tor%tion- SlJohD ￿PtIst,Tro￿YIk7 Tri2r￿10¢￿li￿ F.IncatStJLI)n's ￿￿￿￿￿¥45S¢* Dwil(blltProiectF*ud- StD4￿ MerWrTy COIF StTydfI5WelbTruSt I A wthfi¢¢nt¢ thDQnre￿rKttd lutheStTydfflWelbthth - StPetEr•ndPadtsChlltth R￿fI￿r￿j niThl tsth¢Putpxerffi￿swLdtySthO0I* ST ptter*¥d&PwJfslkn Me￿￿yrTrdr￿CbrL*tCb￿r¢h([*EOf4liOll F￿￿) F￿48$¢1&$14e fOr￿￿￿tI¥eeXpe￿di¢u￿In¢]￿i￿g￿Yl￿0fllDV MertbyrTydfiiChrbtCbur¢h ICIWI IrJknti(Rttmrthnvw p￿LI￿Je[.￿JJJ[tll8￿PTllIithg￿1I MerihyrTrdfllCknstChurthlCIWCiDyy*} Stlobn Bapt￿L Tr￿rhIW(Clw) Co]ltribui:thiwarfstf* catrlbuil￿to&C4￿0fnBw1kx 18 12 PrlorYcArAdJu•¢uy¢nt S￿?￿[0￿y7r￿￿ ¢fiii¢lttQiiutsfuth¢yW￿￿31'[X￿¢4*t