August 2008First Rickard Scholarships Awarded Five young persons of the Virginia Conference have been awarded the first Harry C. and Reba C. Rickard scholarships for 2008 by the Virginia United Methodist Foundation. The five, who are pursuing careers in church related vocations, are Andrew Fallon of Roanoke, Luke Fawcett of Glen Allen, Joseph E. Lenow of Colonial Beach, Michelle Renee Thorne of Colonial Heights, and Timothy Ward of Bristow (Northern Virginia). Four of the recipients are or will be attending Wesley Theological Seminary. One will attend Duke University Divinity School. The $1,000 scholarships were made possible by a bequest to the Virginia United Methodist Foundation from the estate of the late Reba C. Rickard, widow of a former chaplain and clergy member of the Virginia Conference, the Reverend Harry C. Rickard. Portions of the bequest from Mrs. Rickard were designated for the Retired Clergy Housing Corporation, Virginia United Methodist Homes, Virginia United Methodist Family Services, and for the work of evangelism within the Annual Conference. The portion for scholarships was placed in a permanent endowment fund and is being administered by the Conference Foundation. Applications for 2009 may be secured from the United Methodist Foundation office at United Methodist Center in Glen Allen beginning March 1, 2009. Two New Charitable Gift Annuities A long-time member of St Paul’s UMC in Staunton has established a Charitable Gift Annuity with the Virginia United Methodist Foundation to benefit that local church. Mrs. Gladys Showalter is retired from a bank in Staunton and has been a life-time member of St Paul’s. Her husband, the late Claude Wilson Showalter, also a banker, was a member at St. Paul’s. A former official of the United Methodist General Board of Discipleship and his wife have established a Charitable Gift Annuity with the Foundation to benefit the Society of St. Andrew. The Reverend Earl F. Barfoot and Lesley E. Barfoot, now retired in New York state, have had a long- time interest in the Society of St. Andrew and other world hunger programs. Mr. Barfoot served pastorates in the New York area. The Foundation is administering some $1.5 million in charitable gift annuities and charitable trusts to benefit various United Methodist related causes. Confidential information on annuity rates is available by calling Jim Bergdoll at 800-768-6040, ext. 120 or email JimBergdoll@vaumc.org.
Wes Sheffield The Reverend Wesley Sheffield, executive director of the Virginia Conference Foundation from 1989-1991, died in April 2008. A member of the Virginia Conference, Sheffield held pastorates in several conferences and served on the staff of the General Board of Global Ministries from 1980 until 1989. He retired in 1991 and lived in Florida with his wife Luise. Trust Fund Will Assist United Methodist Foundation Dr. William J. Hanna, a retired geochemist, and his wife Frances, a retired teacher, established the William J. and Frances Shelton Hanna Charitable Remainder Trust with the Virginia United Methodist Foundation in 1993. The Trust was funded with gifts to the Virginia United Methodist Foundation of securities and of their home in Virginia Beach. Mrs. Hanna died in 2002 . The donors have been receiving income from the Trust during their lifetime and at the death of the surviving spouse, the remainder value of the Trust will provide income for programs and services offered by the Conference Foundation. Dr. Hanna, who received his doctorate at Rutgers University, taught there and later at Old Dominion University. Mrs. Hanna taught in the Princess Anne County School system. Mrs. Hanna’s family was active at Haygood United Methodist Church. Dr. and Mrs. Hanna have been active in more recent years at Scott Memorial UMC in Virginia Beach. Endowment Funds Annual Seminar The Russell and Louise Fox Endowment in the Virginia Conference Foundation provides funding each year for a program in the fall at the Blackstone Assembly Center on the topic of science, ethics and theology. Dr. Russell Fox, a retired physicist, and Mrs. Louise Fox, a former school teacher, established the endowment in 2000 with a gift to the Foundation. The series began in 2001. The topic for 2007 was “Reconciling Faith and Science: Why Should It Matter to the Church?” Dr. Fox died in February 2008. He was a graduate of Hampden Sydney College and received his Ph.D. degree at the University of Virginia. He had a long career with Westinghouse Electric Corporation including serving as research director for the Industry Products Division. Mrs. Fox, an active member at First UMC Church, Newport News where she and Dr. Fox have taught a Bible Study in recent years, taught in the Hampton and Newport News Public Schools 15 years. She attended Blackstone College and William and Mary College and is currently the president of the Blackstone College Alumnae Association. The Foundation is administering some $7 million in permanent endowment accounts to benefit local churches and/or other United Methodist related causes. These endowment accounts are placed with the Foundation by local churches or agencies or by individuals. The distributions from the accounts must be for charitable causes and at least 51% of the distribution for Virginia United Methodist Conference related causes. Information at Foundation@vaumc.org or by calling 800-768-6040, ext.120. Local Church and District Presentations The Foundation has made formal presentations for 25 local churches, six district events, and five other Conference groups through July of this year. The local church presentations included two seminars on estate planning and planned giving. Several other similar seminars are scheduled for later in 2008. Visits in local churches or districts may be scheduled by calling Jim Bergdoll. Foundation Urges Annual Reports The Conference Foundation has recommended that the Cabinet require that any local church foundation and all formally organized local church Endowment Committees report annually in writing to the Charge Conference. The Conference Foundation can assist in organizing a local church Endowment Committee and can provide a sample resolution to establish the Endowment committee. Investment Assets Exceed $30 Million The Virginia United Methodist Foundation is now administering more than $30 million in investment funds for local churches, districts and agencies of the Virginia Conference. Some of these funds are endowment accounts, although other funds are also included. The Foundation offers four options -- a highly diversified Advisors Fund, an all equity pool, a fixed income pool, and a money market fund. Further information is available by calling 1-800-768-6040, ext. 122 or email Foundation@vaumc.org. For further information on matters reported here, call Jim Bergdoll or Diane Ladd at 1 800 768-6040, ext. 122 or 1 804- 521-1122 or email Foundation@vaumc.org The Virginia United Methodist Foundation is available to assist local churches in developing endowment programs and to work with individuals in making special gifts and to offer local churches various investment options. |
