Overview and Funds Summary -JOHN WESLEY-

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1 DO ALL THE GOOD YOU CAN, BY ALL THE MEANS YOU CAN, IN ALL THE WAYS YOU CAN, IN ALL THE PLACES YOU CAN, AT ALL THE TIMES YOU CAN, TO ALL THE PEOPLE YOU CAN, AS LONG AS YOU EVER CAN. -JOHN WESLEY- Overview and Funds Summary September

2 The St. Paul s United Methodist Church of Cedar Rapids Foundation Table of Contents Overview... 3 Funds Description Capital... 3 Christian Education... 4 Congregational Care... 4 Mission... 5 Music and Fine Arts... 6 Church Operations... 7 Scholarships... 7 Technology...9 Unrestricted... 9 Youth Governance Investment Distribution Policy What to Give John Wesley Heritage Society Board of Directors Board of Directors Jim Steggall, Chairperson Lois Mather, Vice Chairperson Dave Mahlke, Secretary Brice Anton-Jensen Lorna Barnes Dean Beer Garr Hintz Mary Hurlbut Rev. Sherrie Ilg Dale Moore Gregg Nelson Marie Peeters Matt Preston Phillip Schilling Gary Speicher Karla Twedt-Ball 2 15

3 The John Wesley Heritage Society St. Paul s UMC Foundation honors individuals who have made gifts of current or future support through membership in The John Wesley Heritage Society. Named for John Wesley ( ), the 18th-century Anglican clergyman and Christian theologian who was an early leader in the Methodist movement, St. Paul s Foundation Directors established the Society in Membership has grown from 43 to more than 90 individuals, all of whom are recognized in the Foundation s annual report and are invited to special Foundation events and programs. Membership may be anonymous. Eligibility is by supporting St. Paul s in one or more of the ways described above. Donors whose gifts for St. Paul s that are made through the Greater Cedar Rapids Community Foundation or the Iowa United Methodist Foundation are also eligible. To learn more about the St. Paul s UMC Foundation, to discuss options for giving, or for detail about any of the policies outlined in this brochure, please contact: Connie Richardson, Executive Director crichardson@stpaulsumc.org or Clarence Burton, Treasurer & Administrative Director clarence@stpaulsumc.org St. Paul s UMC Foundation 1340 Third Avenue SE Cedar Rapids, Iowa (319) OVERVIEW Since its founding in the 1840s, the mission of St. Paul s has been sustained by the commitment and vision of generous donors. Since the Church established the St. Paul s Foundation on June 10, 1975, many have chosen to leave a legacy at St. Paul s, permanently strengthening it for now and for the future. The Foundation s sole mission is to serve St. Paul s UMC. The Foundation is a non-profit corporation in the State of Iowa and is governed by a board of directors, all of whom are members or staff of St. Paul s UMC. Foundation investments are professionally managed, and distributions are generally made to the Church annually. FUNDS Following is a list of funds as of September The total market value of all invested funds is just over $6M. Capital Capital Projects Fund: For capital projects on any Churchowned property. Established in 1999, the fund is administered by the Trustees. Market value is $114,680, having distributed funds for tuck pointing, upgrades to building systems (HVAC, plumbing, electrical), roof replacement, parking lot improvements, carpet replacement, major equipment purchase/replacement and parsonage upgrades. The fund is made possible by gifts from Clyde and Doris Cammack, Carolyn Rosberg. the Doris Whiting Estate, and other gifts. Sherwood Parsonage Fund: For special needs or routine maintenance of the Church s parsonages. Established in 1949, the fund is administered by the Trustees. Market value is 14 3

4 $6,451, having distributed funds in the past for carpet replacement, appliances, and similar items. The fund was established by a gift from Nellie Sherwood through her estate. Currently St. Paul s owns one parsonage. Leola Clark Capital Fund: For the care and maintenance of Church property, the fund was established in 2009 by Leola Z. Clark through her estate. It is administered by the Trustees and has a market value of $71,979. St. Paul's Sullivan Building Preservation Fund: For projects related to the historic nature of the Church building, the fund was established in 2009 with a gift from Bertha Tribuno, with a significant addition in 2010 by Leona M. Miller. The fund is administered by the Trustees and has a market value of $63,872. Martha M. Justice Endowment for St. Paul's Church Building and Grounds: To provide for well-maintained and aesthetically pleasing facilities and grounds sufficient to carry out St. Paul s ministries, with special sensitivity to the historic nature of the Louis Sullivan designed building. Established in 2010 by Martha Justice, the fund is administered by the Trustees. The market value is $190,728. Christian Education Christian Education Speaker Fund: To provide special speakers for Sunday School teachers and counselors to further their skills as lay Christian educators. This fund was established in 2000, is administered by the Spiritual Formation Committee, and has a market value of $6,451. Congregational Care Dale D. and Ruby Morgan Endowment for the Congregational Care Team: For salaries of professional staff supporting Congregational Care and for the purchase of WHAT TO GIVE Since the Foundation is a non-profit organization that operates to serve the mission of St. Paul s Church, the Church has designated the Foundation to function as the preferred organization for the Church s endowment. The Foundation encourages donors to make both outright and planned gifts. The most common types of gifts are listed below. Unless otherwise restricted by the donor, gifts are placed in the endowment s undesignated fund. Donors wishing to designate a gift for a specific purpose are encouraged to discuss the restriction with Foundation staff to ensure that the Foundation and the Church can use the gift in accordance with the donor s wishes. Cash Required Minimum Distribution (RMD) rollovers Bequests from Wills and Estates Marketable Securities, Stocks, and Bonds Tangible Personal Property Real Estate Life Insurance Charitable Gift Annuities Charitable Trusts Life Estates Bargain Sales Retirement Plan Designations St. Paul s benefits from several funds at the Greater Cedar Rapids Community Foundation, many of which accept additional contributions. Gifts may be made with the assets listed above and may qualify for Endow Iowa tax credits. 4 13

5 12 GOVERNANCE The Foundation is governed by a Board of Directors, all of whom are Church members or staff. Directors are elected by the Board and approved at the church s Annual Conference. INVESTMENT The Foundation s investment philosophy is to manage assets to ensure an optimum return on investments within risk guidelines set for each asset type. Using the services of a portfolio manager for 95% of its investments, the most important long-term consideration is total portfolio return. In managing the Foundation assets, a balanced growth approach utilizing flexible allocations among stocks, bonds, money market investments, and real estate and commodity funds is employed. This approach emphasizes equities for capital appreciation and fixed income securities for stability or return and income generation. DISTRIBUTION POLICY Calculation of the annual distribution is based on a payout rate targeted in the range of 3.5% to 7% of the market value of the preceding 12 quarters, with September 30 as the final quarter. special items to support this ministry. The fund was established in 1999 through an estate gift by Ruby Morgan, with an additional gift from Eugene and Virginia Pugh. It is administered by the Congregational Care Committee and has a market value of $157,677. Wesley and Nancy Nygren Fund for St. Paul s UMC: To help support the spiritual, emotional, and physical care of St. Paul s members, Wes and Nancy Nygren established this fund in 2015 at the Greater Cedar Rapids Community Foundation. Distributions are used for congregational care and for the technology needs of St. Paul s. Mission Cedar Rapids Needy Fund: For assistance to needy people in the Cedar Rapids metro area, or to help support other organizations providing assistance to needy people of Cedar Rapids. Uses may include assistance to domestic violence shelters, homeless shelters, neighborhood meal programs, food banks, and individual emergency needs. The fund was established in 1993, is administered by the Sending to Serve/ Missions Committee, and has a market value of $238,067. It has distributed funds recently for Helping Hands Ministry, Cedar Rapids Ecumenical Center, Mission of Hope, Neighborhood Meals Program, Early Childhood Ministries, the SPRINT Program, domestic violence shelters, and family financial assistance. The fund is made possible by gifts from Carolyn Rosberg, and the estates of Gladys Thomann and Doris Whiting. General Missions Fund: For support of any project deemed to be of a mission nature, this fund was established in 1985 and is administered by the Sending to Serve/Missions Committee. The market value is $80,873, having distributed funds in the past for family financial assistance, the TGIW Program, and Worship Service Cab Transportation. The fund is made possible by gifts from Barbara Newhall in memory of 5

6 Richard Newhall, Clyde and Emily Sanborn, the estates of John Rayburn and the Domer Family, and miscellaneous memorial gifts. Sears Adult Foreign Mission Trip Fund: For support of adults serving the Church in foreign mission trips. This fund was established in 2002 from the Kathryne Sears estate and is administered by the Sending to Serve/Missions Committee. The market value of the fund is $63,611, having distributed funds in the past for adult group trips to Mexico and Haiti, and an individual s trip to Nigeria. Knapp Endowment Fund: For mission ministries as determined by the Sending to Serve/Missions Committee. The fund was established in 1999 by gifts from Russell and Louise Knapp, with additional gifts from their estates; market value is $75,387. Glidden Music Fund: To support the Church s music ministry and for upgrading music ministry facilities deemed to improve the music program. Established in 2003 from the estates of Charles and Edith, with additional gifts made in memory of Richard Newhall. The fund is administered by the Worship Committee and has a market value of $137,201. Distributions have been used to purchase music, engage guest musicians, repair and maintain instruments, and partially support general music ministries. Struve Organ Fund: For special improvements or major repair of the sanctuary organ. This fund was established in 1997 by Wilfrid Struve, with additions made from the estates of Wilfrid and Ruth Struve in 2013 at their direction by their sons, James and Roger. Administered by the Trustees, the market value is $15,185. Fine Arts Fund: To support fine arts programs, special concerts or other musical events. The fund, established in 6 Music and Fine Arts programs. Established in 2012 by Dave and Sherri Justice, it is administered by church youth leadership, under the direction of the lead pastor. Market value is $20,167. Sears Youth Mission Trip Fund: To support youth who are participating in group mission trips. This fund, established in 2002, is administered by the Sending to Serve/Mission Committee. It has funded a youth trip to Canada and a Bible Leaders in Training trip to Jamaica. Established by Kathryne Sears through her estate, the fund s market value is $63,611. Gary and Susan Speicher Fund for Youth: To facilitate the development of church youths capabilities for Christian teamwork and leadership, and for growth and development of their Christian faith. Established in 2011 by Gary and Susan Speicher at the Greater Cedar Rapids Community Foundation, with additional funds from members of St. Paul s, it is administered by the youth leadership of St. Paul s under the direction of the lead pastor. In 2015, the funds were used to refurbish the youth and game rooms. Market value is $167,348. Youth Work Camp/Choir Trip Fund: To support work camp or choir tours involving Church youth groups. Established in 2000, the fund is administered by the Youth Council. The fund has a market value of $24,912, having distributed funds in the past for mission trips to Canada, Arizona, Mississippi (Katrina in 2006 and 2007), and local flood assistance in 2008 and The fund is made possible by gifts in memory of Carole Petersen and other gifts. 11

7 lifetimes and through their estates. Donors include several anonymous gifts, Marian Arens, Lorna Barnes, Marlette Jensen, Helen McKee, Keith and Cheryl Krewer, Barbara Newhall, Dorothy Rasley, Carol Ridenour, Robert Rush, Kevin Sanor and the Union Pacific Matching Gifts Fund, Christine Crilley in memory of her father Chuck Boots, the remainder of the Ruth Walker charitable gift annuity, Rev. Eugene Hancock memorial gifts, and the estates of Milton Carlson, Leola Clark, Ken D. DeWitt., Mildred Jones, Stella Jorpeland, Ralph LaCombe Jr., Mary Jeanne Palmer, Beth and Clarence Thompson, Susan H. Weber, and Jack Zazza. Greater Cedar Rapids Community Foundation: One of several Foundation designated funds at the Community Foundation, the undesignated fund was established by action of the St. Paul s Foundation board in 2011, with additional gifts by Lorna Barnes, David Mahlke, and Quent and Ellen Wagenfield. Gifts to this fund are eligible for tax credits through the Endow Iowa program. Distributions from the GCRCF are made to the St. Paul s Foundation and are added to the annual distribution to the Church. These funds are administered by the Church Council and the market value is $25,925. General Campership Fund: To support children and youth with camping scholarships and related activities like summer camp programs, retreats, work camps, and choir trips. This fund was established in 1986 by a gift from Ruth Struve, with additional gifts from the estates of Mildred Lamb, Helen Laipple, and Wilfrid and Ruth Struve. It is administered by the Spiritual Formation Committee and has a market value of $15,095. David and Sherri Justice Fund for Youth: Held at the Greater Cedar Rapids Community Foundation and distributed to the Church to support the middle and high school youth 10 Youth 1996, is administered by the Worship Committee, and has a market value of $35,921. Donors include Lanette Passman, Eugene and Virginia Pugh, and the estates of George Hottel and Paul and B.J. Fuhrman. Church Operations General Operating Fund: For the Church s operating budget. This fund, established in 1986, is administered by the Finance Committee and has a market value of $77,590. The fund was established by gifts from the estates of Clyde and Emily Sanborn and Wilfrid and Ruth Struve, with additional gifts from Clarence and Char Burton, Dannie and Darlin Keck, and Eugene and Virginia Pugh. Wasta Endowment Fund: For the Church s annual operating budget. Established in 1988 by Erwin and Louise Wasta, it is administered by the Finance Committee and has a market value of $147,706. Scholarships Seminary Scholarship Fund: For individuals pursuing seminary study. Available to a St. Paul s UMC member (or member of another UMC within the Iowa Conference in the event of no eligible candidate from St. Paul s) who is a current seminary student enrolled in a seminary graduate degree program, preparing for a full-time career in ministry, missions or Christian education. This fund, established in 1993, is administered by the Foundation Scholarship Committee. The market value is $68,443. The fund is made possible by gifts in memory of Erwin and Louise Wasta from Wayne and Phyllis Wasta, the remainder from the Verne H. Knecht charitable gift annuity, and additional funds by action of the Foundation Board. 7

8 Child Care Scholarship Fund: For scholarships to any child care program of the Church. This fund, established in 1995 from gifts from the estate of Mrs. Parker Waddington, is administered by the Early Childhood Education Board, and has a market value of $13,751. St. Paul s Scholarship Fund: For scholarships to St. Paul s members pursuing post-secondary education in an accredited college, university, vocational or technical school, not including continuing education. Established in 1985, it is administered by the Foundation Scholarship Committee and has a market value of $133,447. The fund is made possible by gifts from the estates of Cornelius Arnold and Doris Whiting, gifts in honor of Mary Wilson by her sons, Naomi Lash and Susan Weber memorial gifts, and additions by action of the Foundation Board. In 2014, the Christian Education Scholarship Fund, for students pursuing a career in Christian Education, was merged with the St. Paul s Scholarship Fund. Applicants to the St. Paul s Scholarship who meet the Christian Education criteria will receive preferred consideration. This fund was established in 2002 by Mary Jeanne Palmer in memory of her parents. In 2014, the Christian Music Scholarship Fund, for students pursuing a career in Religious Music, was merged with the St. Paul s Scholarship. Applicants to the St. Paul s Scholarship who meet the Christian Music criteria will receive preferred consideration. This fund was established in 2002 by Mary Jeanne Palmer in memory of her parents. Leola Clark Scholarship Fund: For a scholarship to a high school senior graduating from each of the Cedar Rapids metro schools (CR Jefferson, CR Washington, CR Kennedy, CR Metro, Linn-Mar, Marion, Prairie) preparing for post-graduate education. The scholarships are need-based and are awarded annually through each high school counselors office. This fund was established in 1988 by Leola Z. Clark. The market value of the fund is $54,461, having distributed annual 8 scholarships since it was established. Robert James (R.J.) and Grace M. Noonan Endowed Scholarship: Established in 2010 by Grace Noonan with gifts in memory of Robert Noonan and with annual gifts from Grace Noonan, the scholarship is awarded by the Foundation Scholarship Committee to a member of St. Paul s graduating from Cedar Rapids Washington or Jefferson High Schools. Preference is given to a student interested in a career in teaching at the K-12 level. The market value is $8,011. Fran and Stan Richardson Scholarship Fund: For scholarships to St. Paul s members pursuing post-secondary education, not including continuing education. A nonendowed fund, it was established in 2007 by Frances and Stanley Richardson and is administered by the Foundation Scholarship Committee. Having awarded an annual $1,000 scholarship since it was established, the fund s value is now $2,775. Technology Wesley and Nancy Nygren Fund for St. Paul s UMC: For support of the technology needs of the church. Wes and Nancy Nygren established this fund in 2015 at the Greater Cedar Rapids Community Foundation. Distributions are used for congregational care and for the technology needs of St. Paul s. Unrestricted Unrestricted: This fund, the Foundation s largest, has a market value of $3,938,126 having distributed funds in the past for local, state, national and international missions, (including the SPRINT Program, Neighborhood Meals Program, Linn County Food Bank, Habitat for Humanity, disaster relief); capital needs of Church-owned property, including tuck pointing and roof replacement. The fund is made possible by numerous gifts from members during their 9

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