125 Monument Circle   ·   Indianapolis, IN  46204   ·   317.636.4577

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Parish Picnic: Aug. 31

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Plan for a great time at our end-of-summer picnic! We will meet on the lawn and Monument Circle immediately following our 10 a.m. bilingual service August 31. Jugs Catering will provide mounds of fried chicken with ALL the trimmings. 

Please bring a desesrt to share.

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Interview with Chorister Katie Gunn

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In a few days, Katie Gunn will begin her eighth year as a chorister at CCC. In a recent interview, I asked Katie about her experiences as a chorister and about her life in general. This is the first in a series of articles and videos designed to help our community get to know the people behind the music and the "funny robes."

 

Katie maintains a full schedule at Doe Creek Middle School where her classes include biology, algebra, honors English, social studies, choir, and gym. Her favorite class is English, in part because her teacher has a great sense of humor. She studies piano and violin privately, and she loves animals. At her parents' home, she cares for sheep and goats. She recently won a ribbon for her sheep at the State Fair.

 

Her favorite part about being a chorister is, as you might guess, singing beautiful music. She especially likes Baroque music. Her least favorite part about being a chorister is "when it gets hot during services." 

  • Favorite food: Macaroni and Cheese
  • Favorite TV show: Modern Family
  • Favorite books: Anne of Green Gables and The Fault in Our Stars
  • Idol: Johann Sebastian Bach, because he stayed sane even though he had 20 children.
  • Favorite pop band: One Direction, in part because the singers are cute.
  • Favorite anthem: Beati Quorum Via by Stanford
  • Favorite canticle: Stanford in G
  • Favorite hymns: Once in Royal David's City and In the bleak midwinter


 

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CCC Charges JPMorgan Chase With Mismanagement of Trusts

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Contacts:
 
The Very Rev. Stephen Carlsen (317) 636-4577, Ext. 642  
Linda Pence (317) 833-1111 
Lou Gerig  (317) 442-4953
 
August 13, 2014 
 
CHRIST CHURCH CATHEDRAL CHARGES JP MORGAN CHASE WITH MISMANAGEMENT OF TRUSTS
 
INDIANAPOLIS – Historic Christ Church Cathedral today filed a complaint against JPMorgan and Chase Company in the U.S. District Court of the Southern District, alleging mismanagement of trust funds. 
 
The petition accuses JPM of investing money from the Church’s Lilly Trusts in risky, complicated and questionable investments that are inappropriate for these trusts, which are used to support the ongoing ministries of Christ Church Cathedral. The complaint asks the court to award monetary damages from JPM based on breach of trusts and charging of exorbitant fees. 
 
Linda Pence, attorney for Christ Church, explained, “The bank has been making investment decisions for the benefit of itself without regard for what would be best for the church’s trusts.” She added that JPM’s actions are in violation of federal, state and common law obligations requiring the bank to adhere to the highest fiduciary standards. 
 
The complaint cites excessive fees and commissions as a basis for seeking damages and alleges that the Christ Church Trusts lost about $13 million in value as a result of JPM decisions to purchase 177 different investment products, mostly from itself – producing the highest revenues to JPMorgan to the detriment of Christ Church
 
In his 1973 will, philanthropist Eli Lilly bequeathed a portion of his estate to Christ Church Cathedral. In December 2013, JPM voluntarily resigned as trustee, and the Probate court appointed the Christ Church Cathedral Foundation as successor trustee. 
 
The Rev. Stephen Carlsen, Dean and Rector of Christ Church Cathedral, noted, “The bank’s actions cost the Trust millions of dollars and consequently hampered our ability as a congregation to offer our ministry to our community and to support local organizations within our community. We are seeking a legal remedy to recover these damages.” 
 
“The losses cited in this complaint have prevented Christ Church from achieving the growth needed to fund its ministries and are the inevitable consequence of an obvious conflict of interest,” said Pence. 
 
“Altogether, the portfolio benefited JPMorgan but not Christ Church.” 
 
 -30- 
 

A Letter to the CCC Community:

Dear Friends,

 

Today, Christ Church filed a complaint in federal court against JP Morgan and Chase Bank seeking damages for breach of trust and exorbitant fees.

 

You may recall that in January, at the annual meeting, we announced that a new foundation, the Christ Church Cathedral Foundation, had been appointed by the Marion County Probate Court as the successor trustee for the trust. Today, this new foundation and its directors, who are appointed by the Vestry, are overseeing that Trust and other endowments of Christ Church. Three years ago, the Vestry initiated a legal process to secure this trust for future generations. Taking all necessary actions to establish a new foundation was the first goal. After this outcome was secured, the Vestry faced a decision as to whether to pursue a claim for damages.

 

After exhausting avenues other than litigation and after a careful and thoughtful decision process in consultation with the directors of the new foundation, legal counsel, investment advisors and the members of the Investment Committee, there was a strong consensus to take this action. The Vestry in a special meeting in July authorized the filing of this complaint.

 

According to Senior Warden, Ken File, "This is an issue of stewardship." The Lilly Trust and endowment funds were given by Eli Lilly so that Christ Church could "carry on its religious, charitable and educational purposes" from the heart of his city, Indianapolis, as the only remaining church on Monument Circle. The Vestry felt the obligation to seek legal remedy because the actions of one of its former trustees, JP Morgan/Chase. These actions cost the Trust millions of dollars and consequently hampered our ability as a congregation to offer ministry to our community and to support local organizations within our community. We are seeking legal remedy to recover these damages.

 

A press conference was held today at 2 p.m. The Indianapolis Star has already released a story, which will be updated.

 

If you have any questions, please contact me or one of the Wardens, Ken File and Barbie Russell. We will be available in the Parish Hall after the service on Sunday to answer your questions as we are able. I ask for your prayers for the Vestry and other leaders of Christ Church who are seeking to secure these funds to benefit our ministries and outreach for this and future generations.

 

Faithfully yours,

 

 

 

Stephen Carlsen  

 

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Search for Director of Music is Underway!

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The search is on for a new Director of Music to further our Cathedral's mission to "widen the circle of God's embrace, with heart and voice."

 

A search committee representing a diverse spectrum of our Cathedral's people and our many music ministries held its first meeting in July. The search committee is chaired by Dean Steve Carlsen, and includes April Culbertson, Rachel Salvador, Scott Spiegelberg, Steven Rickards, and Donna Worth. The Wardens are also being included throughout the search process. The purpose of the committee is to advise the Dean in his appointment of the next Director of Music, initially by providing feedback on the strongest applicants, and in the final stage, by gathering responses and feedback on the finalists from several groups within the congregation. Additionally, CCC has hired The Catherine French Group, a Washington, D.C.-based recruitment company with extensive experience in managing the search and recruitment efforts for senior and executive management of not-for-profit performing arts organizations, to assist with the process. 

 

"Our hope as a search team is to find a Director of Music who will make our hearts sing and help provide a place for music making for all," shared Carlsen. "From our toddlers first learning to match pitch, to choirs singing at the highest level of artistic expression, we intend to empower men and women, professionals and volunteers, children and adults, Anglo and Latino, to sing with joy here. We have a great tradition of music making. We hope to see that tradition grow and continue into the future at CCC."

 

Working with French, the committee has already comprised a job description for the new Director of Music (attached here). A worldwide search has begun to identify candidates. (If you know of a potential candidate, encourage them to be directly in touch with Catherine French at cfrenchgroup@aol.com). The Search Committee will begin to review strong applicants at the end of the August, with plans to begin interviewing candidates by Skype, telephone, and in person starting in September. We intend to call a Director of Music as quickly as possible, and we hope to have him or her in place by December 1, 2014.

 

Have questions or concerns or ideas about our process? Be in touch with any member of the Search Committee! 


 

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