Church Of Saviour Foundation

CHURCH OF THE SAVIOUR FOUNDATION PROVIDES PERMANENT SUPPORT TO CHURCH OF THE SAVIOUR BY UNDERWRITING MAJOR MAINTENANCE OF THE CHURCH'S GRAND FACILITIES, PROVIDING START-UP FUNDS FOR NEW MINISTRY INITIATIVES AND CHURCH PROGRAMS, AND SUPPORTING LOCAL AND WORLDWIDE MISSION WORK. PROPERTY OF THE CHURCH OF THE SAVIOUR FOUNDATION SHALL BE USED SOLELY AND EXCLUSIVELY FOR THE BENEFIT OF CHURCH OF THE SAVIOUR, UNITED METHODIST, OR ITS SUCCESSOR, AND THE CONDUCT, MAINTENANCE, PROMOTION, DEVELOPMENT OF SUPPORT OF ANY EXCLUSIVELY PUBLIC RELIGIOUS, CHARITABLE OR EDUCATIONAL WORKS OR ACTIVITIES IN WHICH SAID CHURCH NOW IS, OR MAY HEREAFTER BE ENGAGED, EITHER DIRECTLY OR INDIRECTLY, ALONE OR IN CONJUCTION WITH ONE OR MORE OTHER INSTITUTIONS ORGANIZED AND OPERATED EXCLUSIVELY FOR PUBLIC RELIGIOUS, CHARITABLE OR EDUCTIONAL PURPOSES, PROVIDED NO PART OF THE NET EARNINGS OF SUCH OTHER INSTITUIONS INURE TO THE BENEFIT OF ANY PRIVATE SHAREHOLDER OR INDIVIDUAL.

IN 2023, THE CHURCH OF THE SAVIOUR FOUNDATION AWARDED GRANTS TOTALING 504,489, BOTH DIRECTLY TO THE CHURCH AND TO THIRD PARTIES ON ITS BEHALF, TO SUPPORT CAPITAL IMPROVEMENTS AND NEW MINISTRY INITIATIVES. ADDITIONALLY, THE CHURCH CELEBRATED LEGACY GIFTS DIRECTED TOWARD SPECIFIC MINISTRIES. ALSO IN 2023, THE FOUNDATION RECEIVED A SUBSTANTIAL BEQUEST AND CREATED THE "SUSTAINING FUND" TO HELP SUPPORT ITS ANNUAL OPERATING BUDGET. THERE ARE FOUR BASIC TYPES OF FUNDS ESTABLISHED AND UTILIZED BY THE FOUNDATION: GENERAL MEMORIAL - UNRESTRICTED MAINTENANCE - SUPPORTS MAINTENANCE OF THE CHURCH FACILITIES SPECIAL PURPOSE - SUPPORTS PROGRAMS AND MISSION OF THE CHURCH SUSTAINING - SUPPORTS THE CHURCH'S ANNUAL OPERATING BUDGET POLICIES CONCERNING THE ESTABLISHMENT AND USE OF THE FUNDS: GENERAL MEMORIAL FUNDS - COMPRISED OF UNDESIGNATED GIFTS AND BEQUESTS IN THE ORIGINAL AMOUNT OF 5,000 OR MORE, NAMED BY THE DONOR OR FOR THE DECEDENT AND GENERAL INCOME- UNNAMED GIFTS LESS THAN 5,000. MAINTENANCE ENDOWMENT FUNDS - COMPRISED OF DESIGNATED GIFTS AND BEQUESTS IN THE MINIMUM AMOUNT OF 5,000 SPECIAL PURPOSE ENDOWMENT FUNDS - COMPRISED OF DESIGNATED GIFTS AND BEQUESTS IN THE MINIMUM AMOUNT OF 25,000 - THE PURPOSE OF THE SPECIAL PURPOSE FUND MUST BE CONSISTENT WITH THE PURPOSE OF THE FOUNDATION AND IN ACCORDANCE WITH THE GIFT ACCEPTANCE POLICY. IF THE ORIGINAL GIFT IS LESS THAN 25,000, THE DONOR AND FAMILY COMMIT TO BUILD THE FUND TO ITS MINIMUM VALUE WITHIN THREE YEARS OF THE ORIGINAL GIFT. IF THAT IS NOT ACHIEVED, THE FUNDS WILL BE TRANSFERRED TO THE GENERAL MEMORIAL FUND. THE FOUNDATION TRUSTEES MUST FORMALLY ACCEPT THE GIFT OR A BEQUEST FOR SUCH A PURPOSE. SUSTAINING ENDOWMENT FUND - COMPRISED OF DESIGNATED GIFTS AND BEQUESTS IN THE MINIMUM AMOUNT OF 100,000. IF THE ORIGINAL GIFT IS LESS THAN 100,000, THE DONOR AND FAMILY COMMIT TO BUILD THE FUND TO ITS MINIMUM VALUE WITHIN THREE YEARS OF THE ORIGINAL GIFT. IF THAT IS NOT ACHIEVED, THE FUNDS WILL BE TRANSFERRED TO THE GENERAL MEMORIAL FUND. DISTRIBUTION POLICY: THE FOUNDATION DISTRIBUTES UP TO 4.75% OF THE AVERAGE THREE-YEAR OF TOTAL ASSETS AS OF 12/31 FROM OF THE GENERAL MEMORIAL FUND, THE MAINTENANCE ENDOWMENT FUND, AND THE SUSTAINING ENDOWMENT FUND. SPECIAL PURPOSE ENDOWMENT FUNDS DISTRIBUTE INCOME ONLY. FOR ALLOCATION PURPOSES, TWO THIRDS OF THE DOLLARS FROM THE COMBINED GENERAL MEMORIAL AND MAINTENANCE FUNDS ARE TO BE USED FOR BUILDING AND CAPITAL IMPROVEMENTS AND ONE THIRD FOR PROGRAMMING.