(Living Church) Dean: Washington Cathedral Fights ‘Monetary Asphyxiation’
A 2012-2014 strategic plan for Washington National Cathedral will help place the cathedral on a firmer financial footing, the cathedral’s dean, the Very Rev. Samuel T. Lloyd III, said June 5. He said the strategic plan, which includes both short- and long-term objectives, precedes a capital campaign, which will kick off shortly.
Speaking at the cathedral during a participatory town hall meeting, Lloyd said the challenge “that has haunted the cathedral from the beginning” is how it can prevent “monetary asphyxiation” (a phrase used by the cathedral’s late dean Francis Sayre) and sustain itself.
Strengthening the cathedral’s endowment is essential to avoid “endlessly having to chase that money,” the dean said. “We know the need is great,” he said. “We need a $400 million endowment to be sustainable for the ages; this is a first step.” (The current endowment is about $51 million.)
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Speaking at the cathedral during a participatory town hall meeting, Lloyd said the challenge “that has haunted the cathedral from the beginning” is how it can prevent “monetary asphyxiation” (a phrase used by the cathedral’s late dean Francis Sayre) and sustain itself.
Strengthening the cathedral’s endowment is essential to avoid “endlessly having to chase that money,” the dean said. “We know the need is great,” he said. “We need a $400 million endowment to be sustainable for the ages; this is a first step.” (The current endowment is about $51 million.)
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