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.