Boston Church Defends Pricey Rectory as Investment

Boston’s Trinity Church has purchased a $3.6-million condominium for its rector, a move leaders of the historic Episcopal congregation cast as a savvy real-estate deal that would not affect the church’s operating budget or charitable work, writes The Boston Globe.

The Rev. Samuel T. Lloyd III and his family moved into the 3,100-square-foot Beacon Hill condo last month. Mr. Lloyd and other Trinity officials said the rector needed a sizable residence to host functions and church guests and wanted to be within walking distance of the sanctuary, where he works long days and often attends night meetings.

Church leaders said investments in the desirable neighborhood have done well in recent decades, and that the purchase—made with a mix of endowment funds, a loan, and private donations—would have no impact on Trinity’s $5.6-million budget, out of which it spends hundreds of thousands of dollars a year on programs for youth and the needy.

“I’m sure people will look at it and ask questions, but fundamentally, we looked at this as a business decision, and we think it’s a very sound business decision,” said Peter Lawrence, Trinity’s senior warden.