2018 Annual Report United Methodist Foundation of West Virginia, Inc
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2018 Annual Report United Methodist Foundation of West Virginia, Inc. Creating a Culture of Generosity For everything there is a season, and a time for every matter under heaven. Ecclesiastes 3:1 3 Contents 1 President’s Review 2 New Endowments 3 What will be your legacy? 4 Investing Reserves 5 5 New Custodial Accounts 6 Memorial Gifts 7 Honorary Gifts 8 Individual Donors 11 Institutional Donors and Depositors 13 Estates 13 Focus on the Numbers 17 14 President's Financial Report 16 Foundation Grants 17 Culture of Generosity 18 Foundation Beneficiaries 22 Board of Trustees 23 In Memorium 24 Foundation Staff 22 25 Connect Our mission is to create a culture of generosity that transforms the world by raising, managing, and distributing funds that serve the needs of all people and communities. President’s Message The 2018 Annual Report is intended to provide you, our donors and constituents, some of the details of how we fulfilled our mission, which is to create a culture of generosity that transforms the world by raising, managing, and distributing funds that serve the needs of all people and communities. Creating a Culture of Generosity: In addition to providing educational workshops on planned giving and stewardship in various district training events around the Annual Conference, we provided two excellent opportunities for clergy and laity from our Conference to participate in stewardship education with some of the best available presenters. See Page 17 for details about the 2nd Annual Lakeside Chautauqua Stewardship and Generosity Conference held this past August, and the 1st Foundation Academy of Faith and Generosity held in September at Stonewall Resort. We are committed to continuing to provide leadership development events such as these. Raising Funds: The total gifts and deposits in 2018 amounted to nearly $4.63 Million. The gifts were made to new and existing permanent funds that provide perpetual resources for ministry. The deposits were made to new and existing custodial accounts—long-term investment accounts placed for investment services with The Foundation by churches and agencies of the Conference. These funds grow over time through the investment process, and the total amount is available for withdrawal at any time, with no maturity dates and no penalties for withdrawal. Managing Funds: While our funds experienced investment growth during the first three quarters of 2018, those gains were given up during the last quarter and we finished in the negative. We have to remember that our focus as investors is very long term; we do not try to outguess the markets in the short term. We do everything possible to make sure we are being good stewards of the assets our donors and clients have entrusted to us. We have an experienced and capable Investments Committee overseeing these activities, and we engage highly qualified experts in Wespath Investment Management to guide our investment decisions. See Page 14 for the 2018 investment returns for all our funds, as well as the historical averages. Distributing Funds: Our purpose is realized when we distribute funds to expand and enhance United Methodist ministry in the name of Jesus Christ throughout the West Virginia Annual Conference and beyond. Over $4.3 Million was distributed in 2018. In addition to the thousands paid to beneficiaries of unitrusts and charitable gift annuities and the millions to churches, ministries, and other beneficiaries of endowment trusts and custodial accounts, we gave away some of our own money through our Foundation Grants program. See Page 16 for a review of our grant awards for 2018. We are grateful for the generosity of United Methodists who, over 44 years of ministry, have enabled us to respond to these needs. As you read through this Annual Report, we hope you will consider the possibilities of ways The Foundation can help you or your particular church or ministry. • Annual Report 2018 ● Page 1 New Endowments Barbara Blackstone University of Charleston Campus Ministry Account – to provide a resource for Campus Ministry at the University of Charleston through St. Marks United Methodist Church Charles E. and Betty C. Rogers Memorial Trust for St. Marks United Methodist Church Crossroads Camp Campership Trust – to provide camperships for children and youth to attend Crossroads Camp in the Little Kanawha district David and Mary Lou Ohl Memorial Trust – to benefit the Jeffrey Ohl Scholarship of Johnson Memorial United Methodist Church, Huntington. Donald and Dorothy Finn Maintenance Endowment Fund – to benefit St. Andrew’s United Methodist Church in St. Albans Donald and Dorothy Finn Mission Endowment Fund -- to benefit St. Andrew’s United Methodist Church in St. Albans Education and Mission Trust Endowment for Religious and Spiritual Life at West Virginia Wesleyan College Gerald Scott and Lessie H. Runner Charitable Endowment Jane Ellen Brown Memorial Prayerspitality Trust – to support ministries of prayer and hospitality through St. Marks United Methodist Church Jeffrey A. and Sharon L. Porter Donor Advised Fund John L. and Mary C. Lipphardt Endowment for Christ United Methodist Church, Wheeling. Pauline Goudy Waters and Marlen Wiles Waters World Hunger Endowment Fund Rev. Dr. Basil A. and Janis Irene Hensley Memorial Seminary Scholarship Trust Page 2 ● United Methodist Foundation of West Virgina, Inc. What will be your legacy? Jane Ellen Brown died June 11, 2018, just weeks before her husband, Rev’d J. Montgomery Brown (Monty), was to retire from St. Marks United Methodist Church in Charleston. Monty wanted to honor Jane’s memory and exemplify her spiritual gifts. After reflecting on Jane’s legacy, Monty made a gift to the United Methodist Foundation to establish the Jane Ellen Brown Memorial Prayerspitality Trust, where prayerspitality is a portmanteau created by Monty to exemplify Jane’s spiritual gifts: prayer and hospitality. Monty envisions that the Jane Ellen Brown Memorial Prayerspitality Trust will provide funds for an annual award for an art, speech, or composition that uplifts the importance of the marriage of the two Judeo-Christian virtues of Prayer and Hospitality that were so important to Jane. Jane had retired after serving 38 years as a public school teacher, with two master’s degrees from Marshall and WVU. Monty thought such a competition would be the fitting way to honor Jane’s love for teaching and her deep spirituality. Monty planted the seed for the Prayerspitality Trust with his initial generous gift; then he began cultivating new gifts by encouraging family and friends to participate with him in honoring Jane’s memory. For Monty’s birthday, he told family that instead of a material gift for himself, consider making a gift to the Prayerspitality Trust. For Monty’s birthday on January 19 of this year, Monty used Facebook fundraising to encourage friends to add nearly $4,000 to the Prayerspitality Trust. Sadly, the day after Monty’s birthday, his mother, Betsy, died at the age of 92. The family requested that memorial gifts be made to the Prayerspitality Trust. Monty knows that Jane lives; that is their faith and trust. The Prayerspitality Trust will provide tangible evidence of Jane’s continuing positive influence on the lives of others through prayer and hospitality. • Annual Report 2018 ● Page 3 Where does your church invest its reserves? Often, local churches place their investible funds in a savings account or certificate of deposit. They take comfort in the idea that their fund is protected by FDIC from ever losing a dime in value. What they give up by avoiding risk, however, is the opportunity for a much better rate of return, especially in the long run. Many churches find that a custodial account with the United Methodist Foundation is a good alternative to a CD or savings account. While a CD offers a guaranteed interest rate, the rates are generally low. Moreover, the principal is committed for the term of the CD. If the church needed to make a withdrawal, it would incur a penalty. In contrast, with a custodial account at the United Methodist Foundation, the total market value of the account is available at any time. There is no maturity date; there are no transaction fees; there are no penalties. Moreover, the Foundation practices sustainable investing. Churches who take advantage of our investment funds can take comfort in the knowledge that their money will not be invested in enterprises that are contrary to their Christian principles, such as alcohol, tobacco, weapons, gambling, pornography, and private prisons. The Foundation will make a conscientious effort to invest, instead, in companies that have a commitment to the environment, social values, and good corporate governance. The Foundation offers reasonable investment returns with low fees. Consider learning more about how we can assist your church. • Page 4 ● United Methodist Foundation of West Virgina, Inc. New Custodial Accounts Aaron Miller Memorial Fund – to benefit Cross Roads United Methodist Church, Huntington Bailey Memorial United Methodist Church General Reserve Account Barrackville United Methodist Church Growth Fund Barrackville United Methodist Church Memorial Fund Bellemead United Methodist Church Maintenance Account Calvary United Methodist Church (Moundsville) Cemetery Reserve Account Limestone United Methodist Church Calvary United Methodist Church (Moundsville) Parsonage Account Limestone United Methodist Church Rainy Day Account Deer Park United Methodist Church Custodial Account Marvel Parish Account – to benefit First United Methodist Church, Keyser First United Methodist Church (Romney) Rainy Day Account Orlena United Methodist Church Building Fund Account First United Methodist Church (Romney) Trustees’ Reserve Account Smoot Charge Custodial Account First United Methodist Church (Terra Alta) Walkersville Charge Parsonage Account Reserve Account Wayside United Methodist Church Building Gates Ridge United Methodist Church Repair and Maintenance Account Parsonage Account Wesley United Methodist Church (Fairview) Limestone United Methodist Church Capital Custodial Account Improvement Account Zora Townsend Fund – to benefit First United Methodist Church, Williamstown Annual Report 2018 ● Page 5 Memorial Gifts John C.