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" ...I have set an acorn, which when it becomes an oak, God alone knows what will be the fruit thereof ."
Sir Walter Mildmay, 1588
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Our church has been presented with a timely opportunity to unveil the St. David’s Endowment Fund, which has been initially funded by a $50,000 bequest from the estate of Maxine Graham Wheeler, long-time parish secretary.
Through an endowment fund, we prepare today for our needs and challenges of tomorrow through God’s Church. The information below outlines the substance and vision of the “St. David’s Endowment Fund”. Like the acorn on its logo – which can grow into a mighty oak – so can our initial funding become greatly enhanced over time.
We hope that every family unit of St. David’s, together with our friends and neighbors, will become Charter Contributors. All contributions, ranging from $100 to $100,000, will qualify for this distinction and recognition. Additionally, there are further long-range opportunities through Legacy gifting, as described in the brochure. Please join now with the Fund’s directors, who have participated 100%.
Emboldened by the past, we look forward with confidence to the challenges of the future!
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From the Book of Common Prayer
The Book of Common Prayer reminds us to be mindful of our duty as Christians “...to make prudent provision for the well-being of their families, and of all persons to make wills, while they are in health, arranging for the disposal of their temporal goods, not neglecting, if they are able, to leave bequests for religious and charitable uses.” BCP p. 445
Mission
In response to this reminder, St. David's Episcopal Church, San Antonio, Texas has created an Endowment Fund. This fund will provide the means for us, in gratitude, to return a portion of our substance, assured that it will be set aside, invested, managed, and be made available for God's purposes for generations to come.
Gifting Opportunities
1. “Present Gift” through donations of assets such as cash, securities, and real property.
2. “Legacy Gift” by inclusion of the endowment fund as beneficiary of wills, insurance policies, IRA’s, etc; transfer of incidents of ownership in life insurance policies.
The world in which we live has never had a greater need of God’s church and its powerful message of a redeeming, healing, and loving God. St. David’s Endowment Fund is just one means by which we can enhance our Lord’s presence in the world.
Purposes
The income derived from gifts to the fund will be used primarily for the following purposes:
· Outreach ministries and grants
· Seed money for new ministries
· Special projects
· Extraordinary capital needs
The income and/or principal from the endowment will not be used for operating expenses of the parish.
How an endowment benefits St. David’s Episcopal Church
Historically, endowments have been powerful resources for benefiting humankind in areas such as: funding higher education, promoting arts and humanities, providing care programs for the poor, and funding religious endeavors.
Episcopal liturgy encourages us “to know Christ and to make Him known, and to serve Him with gladness and singleness of heart.” One important way to serve is to return to Christ sufficient resources for the advancement of our Lord’s kingdom in the world. We practice responsible stewardship through our gifts to the endowment fund.
Investments
The investment of assets given to St. David’s Endowment Fund is overseen by the Endowment Fund Board of Directors which has the power to interview, hire and dismiss outside managers.
One such manager may include, but is not limited to, The Episcopal Church Foundation in West Texas, a Texas non-profit corporation that is exempt from federal income tax under Section 501(c)(3). It is a charitable religious organization governed by a Board of Directors that includes the Bishop of the Episcopal Diocese of West Texas. Its Executive Director and staff manage the daily activities of the Foundation.
The Foundation was created by the Diocese to:
Invest and manage funds of the Diocese;
Be an investment resource to churches and institutions of the Diocese;
and,
Encourage and promote “legacy” stewardship within the Diocese.
More information about the Foundation may be found on the following website: www.foundation-dwtx.org
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The Endowment Fund Board of Directors
Steven Mitchell, Chair
Bill Hoffman, Secretary
John Brooke
Frank Davis
Vicky Goebel
John Jockusch
The Rev. Lisa Mason
Patsy McGaughy
The Endowment Board of Directors share general information about options in gift planning with those who are interested. The Board asks that every interested donor consult his or her own legal and financial advisors for advice concerning their particular situation.
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