Investment Objective

Income and capital appreciation consistent with preservation of capital.

  • Management of investments directed by Investment Policy;
  • Performance review from investment manager twice per year;
  • Treasurer and Finance Committee chair receive monthly statements;
  • Investment report provided at each regular Foundation meeting
  • Assets divided into two separate funds:
  • General Fund
  • Endowment (Restricted) Fund

General Fund

  • Disbursed at discretion of Trustees
  • Automatically pays out 5% of average balance over last 3 years
  • Monies included in annual budget
  • Investments split between equities/stocks and fixed/bonds

Costs associated with administration, Birthday Club mailings, the congregational annual luncheon, and promotion are examples of expenditures paid out of the General Fund.

Endowment (Restricted) Fund

  • Provides members and friends of congregation opportunities to practice stewardship of accumulated resources.
  • Helps insure funding of ministries well into the future.
  • Investments split between equities/stocks and fixed/bonds
  • Composed of 19 separate funds, which include:
    • Christian Education,
    • General Purpose,
    • Special Ministries,
    • Mission,
    • Facilities,
    • Library Fund,
    • Great Commission

Additional specific endowment funds include:

  • Anderson Fund – supports the music program of Westminster;
  • Bukey Fund – use determined by Board of Elders;
  • Gardner Westminster Preschool Scholarship Endowment – provides scholarships for preschool students;
  • Great Commission – supports church growth;
  • Hamilton Fund – funds for lay staff to attend conferences;
  • Henderson Fund – maintenance of Carillon and elevator;
  • Howe Endowment – funds for music for church services;
  • Knox Family Endowment – funds for operation of the church, as determined by Sr. Pastor;
  • Pauley Family – supports the Westminster Music Department;
  • Sinkey Endowment – use determined by Board of Deacons;
  • Swanson Fund – provides scholarships for Westminster families attending college;
  • Terwilliger Fund – cash gift to Westminster member studying in a college-level organ program;
  • Youth Mission Endowment – to support Westminster Youth Group Mission Trips and Youth Group Study Trips.
  • Zeisset Fund – funds for leadership and development

Significant activities and projects funded by the Foundation:

  • Replacing the air conditioner compressor
  • Asbestos removal in Preschool area
  • Administrative costs for 2000 Centennial Campaign and 2010 Campaign
  • Shelving units for Library
  • Subsidizing Phase I electrical system upgrade
  • Purchase, demolition and paving of Ryons Street properties
  • In 2010, the Westminster Foundation supported the Church’s operations by the amount of $100,000.