Endowment Fund Report: Year ending 12/31/12 from Chairman, Bill Williamson
In 1955 some farsighted Parishioners established The St. Peters Episcopal Church Endowment Fund, Inc. to provide a way for people to leave a legacy to our Church through planned gifts during and after their lifetime. The mission is to support St. Peters Church by increasing the Endowment through Planned Gifts and appreciation of the investments. Over the last 58 years the Endowment has been critical to enhancing the work of the Parish both in outreach and in the Capital Campaigns – Miracle on 7th Street and Knocking on Heavens Door. In 2008 a loan of $150,000 was granted to improve the basement and 3rd floor space which is being repaid to the Endowment over six years. The total support to these projects exceeds two million dollars. Recent projects were the renovation of the Sacristy and the Multi Purpose Room. Another achievement of the Endowment is the annual support of the Planned Giving Committee established in 2002. Since inception the Committee has added 88 new donors who became members of The 1834 Legacy Society. The estimated value of these future gifts exceeds $8 million. Two new commitments were received in the last 12 months. The committee is chaired by Maria Long and assisted by the Planned Giving Committee and our Business Office. Thanks to those that wish to see St. Peters endure long into the future.
This past year (2012) was active in both grants and attention to our investments. The Endowment grants to Outreach were increased to $50,000, and continued support of $10,800 for administration and a special Celebration of the 10th Year of the 1834 Legacy Society. The Endowment at December 31, 2012 was valued at $1,931,407, an increase of 7.89%. New memorials and bequests were $2,100. Investments are in high quality common stocks, bonds, and cash reserves managed though the Investment Policy Statement adopted by the Board and the Finance Committee. The Endowment also manages the Shannonhouse Student Fund valued at $238,374 which makes loans and grants for education purposes. Special thanks go to members of the Finance Committee, Sam Bowles, Sam Gardner, Brian Simpson, and Bill Williamson. The current Trustees of the Endowment appointed by the Vestry are Kristin Bradberry, Sam Bowles, John Hurst, Jim Shannonhouse, Bill Williamson, Dan Woodall, and Father Ollie Rencher, Rector of St. Peter’s. For more information about the Endowment Fund, contact Bill Williamson and about Planned Giving, contact Maria Long.
A recent North Carolina Philanthropy Conference included the following presentation resource for churches and other non-profit organizations.