As we head toward the home stretch of 2024, I wanted to take this opportunity to provide a few fast facts about our Endowment, emphasize how God has blessed our church in this way, and underscore the point that countless lives have subsequently been impacted over the decades:
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Established almost 30 years ago by the WUMC Charge Conference, our Endowment follows both the Book of Discipline of the United Methodist Church (including the Social Principles that guide our church’s investment decisions) and also an Investment Policy Statement that provides additional clarifications and guidelines for our work.
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The Endowment Committee meets quarterly with our endowment manager to discuss strategy and to cover other matters such as requests for grants or spending policies.
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After ten years, this year the Endowment Committee decided to perform a review of our endowment management, called for proposals this spring, and then interviewed finalists as well as various other similar churches about their experiences. Ultimately, locally-based Davenport & Co. was selected in June to become our new endowment manager.
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Unlike a personal checking or savings account, endowments are designed for the long-term and the interest generated is either reinvested or used for a greater good. For our endowment, proceeds go to help specific purposes, new initiatives that are not yet in our budget, one-time immediate needs or new programs. A grant request comes through a committee of the church, is passed along by Church Council, and finally approved by the Endowment Committee.
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In recent years, the Endowment has provided for a broadly-useful, new church website, equipment to help our Kids Morning Out teachers communicate with their team and with parents, and children and Youth programming for movie nights. This year, endowment funds enabled us to install a new sound and video system in our entirely remodeled Fellowship Hall, enabling us to host a wide variety of church ministries, including a new weekly Sunday evening service. We also have approved a grant to fund part of the planned 2025 project to replace the original heat and air system in our 1963 building, inclusive of the Sanctuary.
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We are most grateful for those who have created and supported the 6 funds within our Endowment that go to provide for areas of greatest need within the church and to help those in our community. Other funds, for example, help to maintain our buildings and grounds, marvelous organ and beautiful memorial garden.
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As you suspect, there are many opportunities to financially support our Endowment. Gifts such as cash, qualified charitable distributions like IRAs, appreciated securities, gift annuities, real or personal property, and your estate may receive a tax deduction for your charitable gift to the endowment and in turn, provide a lasting impact. If you would like further information or want to receive additional details, please contact our committee through the church office.
Our Endowment is vibrant, growing and has been a blessing to many over the years. Personally, it has been an honor to serve on this committee for four years, and the last three as chair. As my term ends in 2025 and Alison Foley ably takes the helm, I want to express sincere gratitude to my fellow committee members for their dedicated service, and I look forward to seeing how God will continue to use our endowment in great and mighty ways for our church!
On behalf of the committee, thank you all for your steadfast support, advocacy and generosity.
~ Gerald Bullock, Endowment Committee Chair