January 2008 Newsletter
Endowments Enable Future Ministry
The C. Lynch Christian and Joy R. Christian Endowment Fund has been established through the Virginia United Methodist Foundation for Court Street United Methodist Church in Lynchburg. The late Joy Christian made contributions prior to her death and through her estate to fund the Endowment Fund which will be administered by the Foundation for the church. The income from the endowment is unrestricted. Court Street’s Endowment chairman, David T. Petty, Jr. says: “What a generous and meaningful way to support our church in future ministry.” Mr. and Mrs. Christian were long-time members of Court Street Church.
Wesley UMC, Colonial Heights An Endowment Fund for Wesley UMC in Colonial Heights, Virginia has been established with the Conference Foundation by Rex Strickland, a resident of Cedarfield and long time member of Wesley Church. Strickland was a leader in the United Men’s movement throughout the annual conference and held leadership positions on the Petersburg district. The Rex and Pat Strickland Endowment Fund will provide income each year to support the ministry of Wesley Church. The Rev. Louis Carson, a long time friend of Rex and fellow resident of Cedarfield calls him “a wonderful example of a dedicated and faithful servant of the Lord.”
Positive Return on Investments The Virginia United Methodist Foundation reports positive gains in 2007 for all investment funds offered by the Foundation in spite of the volatile investment market. The FEG Advisors Diversified Fund showed a 6.63% return for 2007 following a 15.5% return in 2006. The Equity portfolio had a 5.83% return for 2007 following a 18.5 % return in 2006. The Fixed income portfolio reported a 7.08% return in 2007 following a 3.97% return in 2006. The Foundation switched in December from the Schwab Cash Reserve Fund to the Schwab Government Money Fund for short term investments. That new fund reported a 3.93% yield at the end of December. More information on investment options for local churches is available at 1 800- 768- 6040 ext. 122. Reports appear monthly on the Conference web site at www.vaumc.org. Go to Offices and then click on Foundation. Foundation Workshops at District Training Events Representatives of the Foundation have made or are making presentations at seven district training events this fall and winter: Danville: Lawrence Broomall, Foundation board chairman; Norfolk-Portsmouth: Jim Bergdoll; Harrisonburg: Jim Bergdoll; Roanoke: Bill Powell, immediate past board chairman; Peninsula: Jim Bergdoll, Arlington-Alexandra finance workshop: Jim Bergdoll, Farmville-Petersburg: Jim Bergdoll. A representative of the Foundation will be at the Eastern Shore training event on April 5 and Jim Bergdoll will speak to the Rappahannock District pastors on March 4.
The Foundation has been assisting Camp Overlook in Keezletown in a matching Charitable Gift Annuity challenge for endowment made by the Rev. Dr. Raymond F. Wrenn. Individuals or couples have responded to date to the challenge with contributions totaling $371,000. Charitable Gift Annuities provide a guaranteed income for the donor, or donors in the case of a two-life annuity, and then the remainder value of the annuity goes to the charitable organization, or organizations, at the death of the donor, or the surviving spouse in a two- life annuity. There are significant tax advantages in using a Charitable Gift Annuity to make a gift. The United Methodist Foundation administers the charitable gift annuities and distributes the annual or semi annual or quarterly payments to the annuitants. Information is available from Jim Bergdoll at 1-800-768-6040, ext. 120.
St. Luke's Church in Danville Plans How to Utilize Three Bequests The Foundation’s executive director has been working recently with St. Luke’s Church in Danville in planning how to utilize three recent bequests totaling more than $1 million. A “bequest task force” has been appointed by the Church Council to make recommendations in this matter. Jim Bergdoll has suggested that the group consider “program ministry, physical facilities, community outreach and missions, and endowment.” The bequests are unrestricted. St. Luke’s was established in 1988 as a merger of Calvary, Sledd Memorial and Piney Forest in the Danville district. News from the Board of Directors Two new officers have been elected for the Foundation. Lorilei J. Roberts will become secretary of the board. She is a Certified Public Accountant with PBGH, LLP in Warrenton. Ronald Hardman is the chairman of the Foundation’s marketing committee and a member of the executive committee. Ron is the former Conference lay leader and a retired former chief of staff for a US Congressman. Joseph Brancoli, a member of the Foundation’s board of directors since 1999, has retired from the board this year. Joe is active with the Virginia Conference Legislative Network. He has been a member of the Foundation’s Investment Committee. The Barbara Brancoli Endowment in the Foundation has received substantial support from the estate of Joe’s mother, the late Barbara Brancoli. She was a leader at Reveille UMC in Richmond. Lawrence Broomall, chairman, called Joe “a very active and faithful member of our board. He will be missed.” Stewardship The Virginia United Methodist Foundation will co sponsor a Conference-wide stewardship initiative called “Living for Giving; A Wesleyan View of Stewardship” with the Conference Office of Stewardship. The Foundation is also one of the sponsors of this new conference position being filled by the Reverend George Neas. You may reach George at 1-800-768-6040, ext. 121. |
