The basics of Foundation

St. Mary’s Foundation was established in January 1994 by the Vestry and Parish to encourage, receive and administer gifts in St Mary’s Planned Giving programs. It is the custodian of memorials and bequests maintained separate and apart from the operating funds of the parish and its funds subject to Vestry approval in accordance with The Foundation Plan of Operation.

Trustees:
Senior Warden - Linda Heitzman,
Vestry appointed Trustees - Martin Steel, Jessica Fergus
Elected Trustee at large - Jack Lynch (2014), Ilse Wolfe (2013), Kevin O'Brien (2015), Chairman – Joel Jennings (2013), Financial Secretary Carter Stark, Rector Carol Gadsden

Our Purpose

Foundation’s Purpose is to enhance the mission of St. Mary’s outside of the general operating budget. Your gifts and bequests to the Foundation are tax deductable and no gift is too small. You might recognize a birthday, anniversary, any special event in your life, or designate a larger annuity or lump sum as part of your estate planning. Funds are invested and managed in our Diocesan Investment Funds and local savings, and are not co mingled with annual stewardship or the operating budget.
Grants are distributed by the Trustees annually or as necessary or feasible to accomplish purposes such as: Capital improvements, building projects, debt reduction, general educational purposes intended to help Parish members to grow in Christian faith and service, outreach projects, projects sponsored by the National Episcopal church at home and overseas, enrichment of our music program, our Memorial Garden, enhancement of St. Mary’s worship and other programs or support needs approved by the Foundation Trustees and Vestry.

GOVERNANCE

Governance by Trustees – 7 Trustees and 2 non voting ad hoc members make up the Foundation. 3 at large Trustees and 1 Chairman are elected by the Parish for 3 year terms. The remaining 3 Trustees are filled annually by the Warden and 2 Vestry appointed Trustees. Ad hoc members include the Financial Secretary and Rector. We meet about 6 times a year or as needed and minutes are provided to the Vestry. Feel free to contact any Trustee with any questions.

Past Grants

On average larger endowments or smaller Foundations at churches grant about 5% - 8% yearly while simultaneously growing funds via interest/dividends earned and additional gifts or bequests. St Mary’s is no different by maintaining a consistent balance around $115K each year while granting $6K-12K annually to enhance St Mary’s future. Over the years Foundation grants have been made in line with it’s purpose and have been used to: upgrade the pipe organ, make structural chimney repairs, purchase a lawn mower, honor service with a new refrigerator, purchase music and audio visual equipment, host financial planning and fellowship concerts, paint outside columns, contribute to music and building funds, and help local and national outreach.