St. Mary's Foundation
The St. Mary’s Foundation seeks to strengthen the life and work of the church by developing the St. Mary’s Endowment Fund and Special Gift Funds to encourage planned giving. Parishioners may contribute to the Endowment or Special Gift Funds during their lifetimes or through planned giving in their estates.
The point is this: the one who sows sparingly will also reap sparingly, and the one who sows bountifully will also reap bountifully. Each of you must give as you have made up your mind, not reluctantly or under compulsion, for God loves a cheerful giver. 2 Corinthians 9:6,7
We enjoy our beautiful church and robust ministries today because past generations of St. Mary’s parishioners have answered the Scriptural call to share generously. What we share now will ensure a vibrant church well into the future.
What is St. Mary’s Foundation Committee?
The St. Mary’s Foundation Committee was established by the Vestry in 2000 to provide oversight of the Foundation investments funds. It reports to the vestry. The Foundation Committee is responsible for two funds: the Endowment Fund, and the Special Gift Fund. Each fund is managed with a perspective for its purpose and with the advice of a qualified multinational investment fund manager. Each fund accepts gifts, grants, and bequests for purposes that have been specifically designated by the donors. The Endowment Fund holds gifts in perpetuity, with up to 5% annual distributions. The Special Gift fund holds gifts which are not endowed and the investments are managed separately from the Endowment.
The Endowment Fund
The Endowment Fund is intended to serve as the Church's perpetual investment account. Its primary goal is to serve St. Mary’s into perpetuity. Today's parishioners are blessed with an asset valued close to $900,000. Up to 5% of the Endowment Fund value each year may be used by the Vestry, which then allocates this "draw" to support the mission of the parish and its operations.
The Endowment Fund is replenished and grows through investment returns and through gifts and bequests designated as endowed. This Fund is an important vehicle for each of us to leave a legacy to St. Mary’s and to help ensure this welcoming place will be here for future generations.
The Special Gift Fund
The purpose of the Special Gift Fund is to add to the financial stability of the parish. It provides income to supplement the mission of the church and capital needs such as repairs and upgrades to our buildings. It accepts gifts that are not endowed (the principal can be spent), unrestricted, and special purpose designations.