PURPOSE AND VISION
Our Foundation is the endowment arm of the Mercer Island Presbyterian Church. Session established the Foundation in 1991 to expand and enrich mission endeavors of the congregation. The Foundation’s purpose is to encourage, receive and manage gifts and donations, in perpetuity, for the benefit of mission.
On a quarterly basis, the Foundation makes distributions to the Mission Committee, which are used to provide needed funding to support ministries in fulfillment of Christ’s calling. In recent years, such distributions have allowed ongoing support of mission programs that otherwise may have been curtailed or terminated because of recessionary times and a depressed economy.
Thanks to the generous support of members and friends, the Foundation’s endowment now exceeds $800,000. Our vision is to double the endowment by 2017.
“The Lord God took Adam and put him in the Garden of Eden to work it and take care of it.” Genesis 2:15
Oversight of the Foundation is by a committee approved by Session. The committee is comprised of MIPC members who are approved by the congregation.
Many of the 39 parables of Jesus use money or work as teaching tools. The Foundation committee takes these tools to heart in meeting their responsibilities.
The committee seeks to inform and educate members of the congregation about the Foundation. While it is not the policy of the committee to solicit donations directly, they encourage lifetime gifts or testamentary bequests to the Foundation that can be lasting legacies to support mission projects in our local and global communities.
Endowment funds are managed in accordance with governing rules and an investment policy that have been approved by Session. Outside fund managers are Kaufman Kampe Advisors LLC, an investment firm on Mercer Island. With the approval of Session, the committee has authorized a distribution policy whereby amounts equal in value to 3.5% of the Foundation’s assets are distributed annually to the Mission Committee for use in supporting mission programs.
A modest quarterly management fee is paid to the fund managers. Otherwise, the Foundation committee does its work on a completely voluntary basis with a zero dollar operating budget.
“They are like trees planted by streams of water, which yield their fruit in its season, and their leaves do not wither. In all that they do, they prosper.” Psalms 1:3
The Mission Committee receives 100% of all distributions from the Foundation. Annual distributions currently exceed $20,000. Unless otherwise directed by a donor, the Mission Committee determines how these distributions will be used to support mission projects.
Foundation funds have recently supported a long-term commitment by MIPC to fund teachers’ salaries at the Child Academy in South Africa. A previous grant went to the Madrona Presbyterian Church to help the congregation to restore their sanctuary. Before then, Foundation funds supported a mission project to help Asa Mercer Middle School pay for their Readers and Writers Workshop program, which dramatically improved student reading skills. In 2012, it is anticipated that funds will be used during the Advent season to match Gift of the Heart donations from the congregation.
HOW MAY I HELP?
Learn more about the Foundation and how it helps mission projects. Offerings and pledges to support our church are of first importance, but also understand how the Foundation has a very important role in our church that goes beyond stewardship. Increase awareness about the Foundation in our church and in the community. Think about how a contribution can help to create a lasting legacy for one’s family.
“In all this I have given you an example that by such work we must support the weak, remembering the words of the Lord Jesus, for he himself said, ‘It is more blessed to give than to receive.’ ” Acts 20:35
There are many ways to support the Foundation. Planned-giving opportunities may include a bequest in a will or living trust of real property, securities or other appreciated assets. Giving strategies may also include charitable remainder trusts, gift annuities, and pooled income funds. The value of these gifts is tax deductible in accordance with charitable contribution regulations and guidelines.
“The human mind plans the way, but the Lord directs the steps.” Proverbs 16:9
We encourage MIPC members and friends to consult with their legal, financial, and tax advisors about the benefits and advantages of a gift or donation to the Foundation. Committee members are available to answer questions and to provide more information. Committee meetings are open to members of the church.