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Trinity, Wall Street, has $2bn assets

by
03 May 2013

By a staff reporter

TRINITY Church, on Wall Street, New York, has published a financial statement which reveals that its assets amount to more than $2 billion.

The vestry of Trinity has released its income and budget figures, which, it says, show that the parish's "extensive resources are wisely and appropriately utilised".

The report also says that Trinity is a "force for good in Lower Manhattan, the diocese of New York, the wider Episcopal Church, and the worldwide Anglican Communion".

The parish's wealth dates back to a gift from Queen Anne to Trinity Church of 215 acres of farmland, in 1705. This has now been turned into 5.5-million square feet of commercial real estate in some of the most sought-after areas of Manhattan, worth more than $2 billion.

The parish earned $158 million in income from this real estate in 2011, most of which was spent on maintaining its real estate. Of the $38 million for the church's operating budget, $4 million was spent on communication, and $3 million on philanthropy.

The congregation of Trinity has been split over whether the church should be giving more to charity. Nearly half the vestry resigned, or claim that they were pushed out, after a failed bid last year to get the Rector, the Revd Dr James Cooper, to step down.

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