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The Huston Foundation Disclosure Statement

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The Huston Foundation Disclosure Statement 2004 ANNUAL REPORT The Huston Foundation Disclosure Statement The Foundation, its Directors, and Officers may make recommendations for one-time solicited or unsolicited grants to qualified organizations, subject to the approval of The Huston Foundation Board of Directors. The Directors reserve the Qualified organizations are right, at their sole discretion, those approved by the IRS to determine and or modify the as tax exempt and meet the amount and duration of any grant. Foundation’s grantmaking Any grantee who wishes to requirements (guidelines). apply the sum total or any portion Any solicited or unsolicited of the specific grant funds to grant awarded by the Foundation, other purposes than that solicited in any year, does not constitute in the original request, must obtain a precedent for subsequent the permission to do so in writing grants to the same or other prior to the application of said qualified organizations. funds to other purposes. Contents 2 Background of The Huston Foundation 3 The Overall Mission 4 Board of Directors 5 Accountant’s Report 6 Statement of Investment Policy 7 Analysis of Distributions 10 Evangelical Distributions 20 Secular Distributions 31 Grant Requirements & Procedures Committed to Protestant 36 Pennsylvania Public Charity Evangelical Christian needs Registration Form worldwide and Secular purposes nationally Evangelical Ministries Secular Background of The Huston Foundation The Huston Foundation, a private founder of several family and children family foundation, was incorporated service organizations, including Health as a Pennsylvania non-profit corpora- and Welfare Council and The Family tion on December 12, 1957 for federal Services both of Chester County. As tax purposes. President and CEO of the Lukens Steel The Huston Foundation was Company he founded the Coatesville established by Charles Lukens Opportunity Council on Low Income Huston, Jr. and his sister Ruth Huston, Housing. As a recipient of the presti- co-founders and principal donors as a gious Silver Beaver award from the tribute to their parents, Charles Lukens Boy Scouts of America, it was evident Huston, a Protestant Evangelical Christian that Mr. Huston was a champion of philanthropic industrialist, and Anne developing leadership qualities in Stewart Huston, a Protestant Evangelical children. His own leadership abilities Christian community leader. benefited major university, bank and Ruth Huston, 1900-1982, served corporate boards, including Eastern for over half a century as a Protestant University, Drexel University where he Evangelical Christian missionary in the was conferred the Honorary Doctorate Appalachian Mountains of eastern of Letters degree, Marine Midland Kentucky, and concurrently served as Bank of New York, American Iron and a director of the Lukens Steel Company, Steel Institute, and the International in Coatesville, Pa. In Kentucky, she Iron and Steel Institute. founded a summer Bible camp for Following the passing of its children, taught Bible studies, promoted founders, the Foundation grew both Christian education, and allocated most in financial assets and family interest. of her income to the Lord’s work, both The only income providing for operating nationally and internationally. Miss expenses and grants to charity is derived Huston was a trustee of Bryan College, through sound investments in the and Bob Jones University. She was securities market. Therefore, securities conferred the Honorary Doctorate of market fluctuations have a direct impact Letters degree from Bryan College and on the Foundation’s expenditures and Pikeville College. She authored several grants from year to year. books including, God’s Timing and Presently there are two generations Acting like Christians. Miss Huston was of the Huston family on the eight called upon on numerous occasions to member Board of Directors. speak publicly about her missionary services, and business acumen. Charles Lukens Huston, Jr., 1906-1982, was an active supporter of educational, community, humanitarian, and faith-based organizations. He was ✦ 2 ✦ Evangelical Ministries Secular The charitable interests of both founders are reflected in the Foundation’s overall mission and more specifically in the Protestant Evangelical Christian and Secular mission statements. It is important to note that while the Foundation operates as one non-profit corporate entity; distributions are divided between Protestant Evangelical Christian and Secular organizations. According to the directive established by the Founders a majority of the grants must be given to Protestant Evangelical Christian organizations — this has been the consistent practice of the foundation since its inception in 1957. The Overall Mission The Foundation, a regional and centered, Biblical-based foundation national philanthropy, serves special with an effective prayer ministry and interests and is committed to serving unique calling by the Holy Spirit to Protestant Evangelical Christian needs promote evangelism and discipleship worldwide and Secular purposes around the world. Those ministries nationally, by providing funds, technical which subscribe to the building up assistance, collaboration, and net- of the Body of Christ with a deep working on behalf of not-for-profit commitment to and dependence organizations in the areas of: arts, upon the leading of the Holy Spirit to culture, education, health, human promote strong integrated programs services, public policy, education and projects where the Biblical claims and science. of Christ are presented side by side Through their grantmaking, as with any ministry involved. an investment in humanitarian needs, the Directors of the Foundation seek Secular Mission to encourage individual and Christ- The Secular segment of the Huston centered development which promotes Foundation strives to conform to the personal evangelism and discipleship. principals and directions established In addition, the directors seek to by Charles Lukens Huston, Jr., for the encourage problem solving and inno- benefit of improving the quality of life vative, practical approaches to meeting through not-for-profit organizations the changing needs of our regional, recognized by the Internal Revenue national, and international communities. Services as qualified to receive founda- tion grants. The Foundation directors Protestant Evangelical strive toward effective and efficient Christian Mission stewardship in receiving, researching, The Protestant Evangelical Christian and evaluating requests for funding segment of the Huston Foundation is and determining the amount of structured to conform to the principles distribution of funds in grants in and directions established by Ruth areas of education, health, welfare, Huston, missionary. The primary interest human services, arts, science, civic, of the Foundation is in funding ministries community affairs, literacy, that have a strong Protestant, Christ- environment and cultural alliances. ✦ 3 ✦ Evangelical Ministries Secular Board of Directors and Officers Charles B. Chadwick Charles L. Huston, IV Ridgewood, New Jersey Coatesville, PA Director Director Treasurer Gardner Huston Hansen Delray Beach, Florida Rebecca L. Huston Director Jamaica Plain, Massachusetts Director Nancy Huston Hansen Corporate Secretary Malvern, Pennsylvania Director Scott G. Huston Vice President, Evangelical Relations Berwyn, Pennsylvania Director Charles L. Huston, III Chester Springs, Pennsylvania Elinor Huston Lashley Director Williamsburg, Virginia Vice President, Community Relations Director Director of Operations Vice President, Education, Arts and Cultural Relations Huston Foundation Staff Susan B. Heilman Executive Assistant Patricia A. Jones Administrative Assistant Consultants to the Board of Directors Rainer & Company Certified Public Accountants, Newtown Square, Pennsylvania Stoneleigh Investment Consulting Vero Beach, Florida ✦ 4 ✦ Evangelical Ministries Secular Accountant’s Report To The Board of Directors The Huston Foundation Conshohocken, Pennsylvania: We have reviewed the statements objective of which is the expression of financial position — cash basis of an opinion regarding the financial of the Huston Foundation as of statements taken as a whole. December 31, 2004 and 2003, and Accordingly, we do not express the related statements of activities such an opinion. and changes in net assets — cash Based on our reviews, we are not basis and statements of cash flows aware of any material modifications — cash basis for the years then ended, that should be made to the accompa- in accordance with Statements on nying financial statements in order for Standards for Accounting and review them to be in conformity with the Services issued by the American Institute cash basis of accounting. of Certified Public Accountants. All The data in the financial statements information included in these financial is presented only for supplementary statements is the representation of the analysis purposes and has been sub- directors of the Huston Foundation. jected to the inquiry and analytical A review consists principally of procedures applied in the review of inquires of Foundation personnel and the basic financial statements. This analytical procedures applied to financial data is presented on the cash basis data. It is substantially less in scope than of accounting. We did not become an audit in accordance with generally aware of any material modifications accepted auditing standards, the that should be made to the data. Rainer & Company March 2005 Consolidated
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