About the Westminster Foundation
The Westminster Presbyterian Church Foundation (Lincoln, Nebraska, USA) was founded in 1955.
Its work is an integral part of the life of Westminster.
Its purposes are two fold:
To aid Westminster by the solicitation of gifts, grants, and bequests of both real and personal property to the Foundation.
To accept the above gifts and, in turn, hold and administer them as trustee for the use and benefit of the Church.
The Westminster Presbyterian Church Foundation is the union of many gifts – small and large – held in trust and managed by the Foundation Board of Trustees for the benefit of Westminster, its programs and properties.
Foundation Board of Trustees
The Foundation is administered by a Board of Trustees consisting of members of the church who are elected by the congregation to three year terms.
Joyce Douglas, Board President
Greg Hershberger, Board Vice-President
Erika Schafer, Board Secretary
Allen Wachter, Board Treasurer/Finance Chair
Pat Leach, Board Trustee & Marketing Chair
Mark Schorr, Board Trustee
David Anderson, Board Trustee
Stacy Graham, Board Trustee
Steve Hughes, Board Trustee
Sandi Larson, Board Trustee
Jim White, Board Trustee
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