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St. Paul’s Episcopal Church Perpetual
Memorial & Endowment Fund
Established October 10, 2005
FIRST ANNUAL REPORT
2014
This beautiful book, full of beautiful images of our church, and the beautiful people who have helped make Christ present here, gives birth to a new concept, laying aside “seeds of strength” to help future generations of St. Paulians. In this tradition of honoring our forebears, we acknowledge our part in the continuous life of the Communion of the Saints. The St. Paul’s Perpetual Memorial Fund will be an annual reminder of what certain people have meant to our lives of faith and our church. A gift to the fund establishes a permanent memory of these wonderful saints and honors, celebrates, and gives thanks to God for their witness and example. But the fund does more. It sets into place a practical reality, a pool of resources, for future projects such as major capital needs as St. Paul’s continues to try to grow as “a city on a hill.” Past witnesses will inspire future growth. The first 227 names in this inaugural book are saints of our church family who have passed on “to service in Christ’s heavenly kingdom,” in the last decade. At the behest of the vestry, an initial gift of $100 from the St. Paul’s General Memorial Fund has been made in memory of each. You may add to these gifts of thanksgiving, or you may enroll a loved one or mentor by an initial gift of $100. There will also be a section of “living memorials.” Another value of this book is to encourage each of us to review and update our wills for the future well-being of our families and the work of the church. St. Paul’s has been richly blessed by a long legacy of benefactors spiritual and material. We celebrate those who have thoughtfully provided for St. Paul’s future by making a Planned Gift. I would particularly like to thank the Endowment Committee for their hard work on a long overdue project. The committee is chaired by Rob Hinckle, and ably staffed by Marshall Shields, Palmer Whiting, Libba Latham, and Tim DeLong with the helpful assistance of Brenda Ferguson and Pam Moore under the guidance and encouragement of this year’s Senior Warden, Bess Marks. Each has made a contribution to the church that will last for generations. As with every effort, we commend this one to the Lordship of Jesus Christ who turns five loaves and two fish into sustenance for thousands, and ultimately for billions. May He multiply the seeds of our humble appreciation into the fruit of a plentiful harvest for the glory of His kingdom, in the name of the Father, and the Son, and the Holy Spirit. Amen. Christ’s grace and peace, The Rev. John Riggin
“We believe that Jesus died and rose again and so we believe that God will bring with Jesus those who
have fallen asleep in him.” – 1 Thessalonians 4:14
MARGARET COOK QUINN A Saint at God’s Altar
October 11, 1926 – May 27, 2013
Margaret and Jim Quinn joined St. Paul’s on November 16, 1981, being brought to Mobile by International Paper Company. Margaret served on the Altar Guild for 25 years, chairing it for almost two decades, but her work in the Episcopal Church began much earlier in the 1950s, meaning she served as a volunteer at Christ’s altar for over 50 years. She was a founding member of St. Christopher’s in Pensacola, one of
our diocese’s larger parishes, where on the afternoon prior to the opening service, she and her diligent altar guild associates blew out the electrical system by running their vacuum cleaners simultaneously! An electrician saved the day! Margaret brought humor, dedication, and detailed loving care to the kingdom of God here.
Thanks be to God for her life and service!
This inaugural St. Paul’s Church Perpetual Memorial & Endowment Fund Annual
Report is dedicated to and in loving memory of parishioners and those dear to us who
have departed from this life since the creation of the endowment in 2005.
Why Establish a Perpetual Endowment? Parishioner’s Benefit by:
Providing a vehicle for leaving a legacy to their church. It serves as an annual reminder of faith and witness of each donor.
Multiplying the donor’s gift by combining it with gifts of others that grows under professional financial management.
Showing donors that their church is committed to using endowment gifts in a financially accountable way in perpetuity.
Congregations Benefit by:
Providing a source of funding to support large projects as well as monies for future ministries.
Encouraging church leadership to maintain a focus on present as well as future ministries.
Providing a way to support the ongoing cost of building maintenance or long-term commitments to new ministry.
The Minister of the Congregation is directed to instruct the people, from time to
time, about the duty of Christian parents to make prudent provision for the well-
being of their families, and of all persons to make wills, while they are in health,
arranging for the disposal of their temporal goods, not neglecting, if they are able,
to leave bequests for religious and charitable uses.
Page 445, Book of Common Prayer
Where There’s a Will, There’s a Future To be a philanthropist, you don’t need to have a building named after you. You don’t have to own a Rolls Royce, your own private jet, or a pull cord for the butler. All you have to do is care about the world around you. You have to care about what’s going to happen to that world after you’re gone. Do I need to have an estate in order to leave a gift? Everyone can leave a gift. “Estate” is simply a word used to describe any money, property or personal belongings that you may have at the time of your death. Most people leave an estate when they die, even though few of us are Rockefellers. Do I have to include my wish to leave a gift to a specific organization? A charitable bequest will not take effect unless you state your intention in your will or living trust. Without a will, your property and finances are settled according to state laws, whether or not they coincide with your wishes. Despite this, seven out of ten individuals die without a will. Who can help me arrange a gift? If you have an accountant, lawyer, insurance agent or financial planner, please talk with them about leaving a gift. A professional can tell you about the tax benefits of planned gifts.
Do I tell the Church that I left a gift? That’s up to you. St. Paul’s likes to know in advance so your generosity can be recognized. If you wish to leave a bequest, you may direct your gift to the St. Paul’s Church Perpetual Memorial & Endowment Fund. This will help ensure a continuation of St. Paul’s ministry far into the future. How do I leave a gift in memory or in honor of a person? A contribution to St. Paul’s is a wonderful way to recognize someone who has made a difference in your life. This kind of gift can honor someone important to you in the form of a living endowment or someone you wish to remember in the form of a memorial endowment. You just need to make it clear that the gift is given in honor or memory of a particular person. For more information about the St. Paul’s Church Perpetual Memorial & Endowment Fund call Brenda Ferguson at (251) 342-8521.
HOW IT WORKS An initial gift or bequest of $100 or more will enroll the donor, or the honored person named, in the records of the St. Paul’s Church Perpetual Memorial & Endowment Fund. Several individuals may pool their gifts to achieve the Fund’s initial gift minimum. Subsequent to the initial enrollment, additional gifts of any amount may be given in honor of the same person.
Harry Dinham, Asst. Sunday School Superintendent
and Price Oliver, Sunday School Superintendent
2014 ROSTER OF MEMORIALS
AND OTHER ENDOWMENTS
Since October 2005
Mrs. Inez Smith Adams $100
Mrs. Mavis L. Bunkers Alvarez $100
Mrs. Lazona Stevens Anderson $100
Mrs. Vermelle Jackson Anderson $100
Capt. Gerald T. Applegate, Sr. $100
Dr. William James Atkinson, Jr. $100
Mr. Garden Clarkson Ball $100
Mrs. Dolores “Doddie” Hall Ballard $100
Mrs. Lucile Torrey Barrett $100
Miss. Laura Westwood Beck $100
Mrs. Frances Colyer Bennett $100
Mrs. Mary Abbie Deshon Berg $100
Mr. Norman Arthur Bertolotti $100
Mrs. Claydell Brock Bertolotti $100
Mr. William Harrington Bixler, Jr. $100
Mrs. Eleanor Andrees Black $100
Mrs. Dahlia Sheldon Morgan Booth $100
Mr. Milton Oliver Booth $100
Mr. Gerald Gayle Bowman $100
Mr. John David Brady $100
Mrs. Joanne Prather Brooker $100
Mr. Norton Brooker, Jr. $100
Mrs. Betty Hardin Brown $100
Mrs. Carolyn House Bullock $100
Dr. William Paxton Callahan $100
Mr. Jack Campbell $100
Mr. John Carwie $100
Mrs. Joyce Rhodes Castle $100
Mrs. Suzette Barton Chandler $100
Mrs. Ashley Robinson Childers $100
Mr. Peter Reed Clow $100
Mrs. Betty Maury Cobb $100
Mrs. Camilla Bernice Roy Cochran $100
Mrs. Laura Valery Converse Cole $100
Mrs. Brandly Converse Cole $100
The Hon. Irwin Weldon Coleman $100
Mr. Claud Wiley Colquitt $100
Mrs. Patricia Koenenn Compagno $100
Mr. Ralph Edward Compagno, Sr. $100
Miss Jennie Fee Coogan $100
Mrs. Polly Gantt Cookson $100
Mrs. Mary Faison Peirce Cooper $100
Mr. Thomas Dabney Cooper, Jr. $100
Dr. Ronald Reed Cowden $100
Mrs. Ellen Farish Craver $100
Mr. Marshall P. Craver, Jr. $100
Mrs. Margaret Landsdowne Crowe $100
Mr. Rae Maurice Crowe, Sr. $100
Mrs. Alma Crumbley $100
Mrs. Eleanor Atman Curran $100
Mrs. Sylvia Sargent Cushing $100
Mr. James E. “Smokey” Davis, Jr. $100
Mr. Alfred C. Dees $100
Mrs. Hilda Andrews Dellatore $100
Mrs. Juanita Sandlin Denniston $100
Mrs. Kathryn Thornton Dill $100
Mr. Harry Arthur Dinham $100
Mrs. Charlotte Hamilton Dinham $100
Mr. Harold McGowin Dodd, Sr. $100
Mr. Joe Stone Doggett, Sr. $100
Mr. Thomas Marshall Donnell $100
Mr. John Leonard Donnelly, Jr. $100
Mrs. Rebecca Dowdle $100
Mr. James Joseph Duffy, Jr. $100
Mr. David Ullman Dulaney $100
Mrs. B. Helen Bartee Dumars $100
Mrs. Amelia Augusta Miller Dunn $100
Mrs. Stuart Moseley Ellis $100
Mrs. Mary Ely $100
Mrs. Helen Zikeli Enger $100
Mrs. Alice Engwall $100
Mr. Jackson Perry Everett $100
Mr. John Philip Fonde $100
Mrs. Anne Bolling Flynn Fonde $100
Mrs. Rosemary Brady Foster $100
Mrs. Caroline Robinson Foster $100
Mrs. Marie Hodge Barnett Frank $100
Mrs. Imogen Inge Fulton $100
Mrs. H. Amante Toulmin Gaillard $100
Mr. Howard Harrell Galloway $100
Mr. J. L. “Jack” Godwin, Sr. $100
Mrs. Catherine Crane Godwin $100
Mrs. Bessie Toulmin Goudelock $100
Mrs. Margaret Anderson Grahame $100
Mr. Edward C. Greene $100
Mr. Edward C. Greene, Jr. $100
Mrs. Vesta Lorraine Smith Griffin $100
Mrs. Martha McDavid Haas $100
Mrs. Gertrude S. LaGrave Hahn $100
Dr. Kenneth Moore Hannon $100
Mrs. Frances Thomas Hannon $100
Mr. Leslie Hannon $100
Mrs. Julie Ann Mayer Hansknecht $100
Mr. Frank Winter Hardie $100
Mrs. Gertude Schoults Hardman $100
The Rev. Samuel R. Hardman $100
Ruth Freeman, played piano for
the Children’s Chapel
Mrs. Jean Redmond Harper $100
Mr. Rolfe Cecil “Tex” Harper III $100
Dr. Edward Crampton Harris $100
Mrs. Inez Brazwell Heenan $100
Mrs. Emily B. Zimlich Helland $100
Mr. Robert Terrance Holt $100
Daniel Wilson Horst $100
Mr. Thomas Armstrong Horst $100
Mr. James Keno Huffstutler, Sr. $100
Mr. James Keno Huffstutler, Jr. $100
Mrs. Susan Pharr Hume $100
Mr. Christopher G. Hume, Jr. $100
Mrs. Lucille Harrelson Hurley $100
Mrs. Evelyn Dershimer Hybart $100
Mrs. Mary Jane Slaton Inge $100
Mr. George Edward Jensen $100
Mrs. Arnette W. Jensen $100
Mrs. Betty Gray Baker Jones $100
Mr. Francis Kearley, Jr. $100
Mrs. Ada Perkins Kearns $100
Mr. David Kearns $100
Mr. Charles Michael Kopf $100
Mrs. Fanny Knight Gaillard Ladd $100
Mr. James Arthur Latham, III $100
Mr. Eldred Crosby Latham, Sr. $100
Mrs. Edna Ledyard $100
Mrs. Josephine Allie Meagher Lee $100
Mrs. Carolyn Davis Locke $100
Dr. Harry A. Luscher, Jr. $100
Mr. Gaylord Clark Lyon, Sr. $100
Mrs. Ruth Manley $100
Mrs. Beverly McPherson Marshall $100
Mr. Charles Swift Marshall $100
Col. Benjamin Fridge Marshall $100
Mr. Philip D. Martin $100
Mrs. Georgia Oakes Martin $100
Mrs. Lucille Rush Hunter Mayfield $100
Mr. David Lee Mayrose $100
Mr. Doy McCall $100
Mrs. Margaret McCall $100
Mrs. Sylvia K. McConaha $100
Mrs. Jean Taube McCowan $100
Miss Donna Lee McElroy $100
Mrs. Elizabeth Brittain McGowin $100
Mrs. Barbara Lord McIntyre $100
Mrs. Stella McPhillips $100
Mr. Frank Blalock McRight, Jr. $100
Mrs. Marguerite Galloway Miller $100
Mrs. Phyllis Deemer Moore $100
Mr. James Gilbert Moore $100
Mrs. Willa Moore $100
Mrs. Joyce Steadham Morris $100
Mrs. Joyce Henley Morrissette $100
Mrs. Marjorie Macrae Mullins $100
Mrs. Peggy Murray $100
Mrs. Martha Foster Myers $100
Mr. Harry Edward Myers, Jr. $100
Mr. Robert LeRoy Nelson $100
Mrs. Dixie Ann Jones Newman $100
Mrs. Mary Northcutt $100
Mr. Thomas Freeland Odom $100
Mrs. Rebekah Anderson Oliver $100
Mr. Charles Alfred Olts, Sr. $100
Mr. Richard Walker Overbey $100
Mrs. Frances Patten $100
Mr. Charles Pearce, III $100
Mrs. Barbara Cowan Peebles $100
Mr. Emory Bush Peebles, Jr. $100
Mrs. Lee Baldwin Peebles $100
Mr. Peter C. Petroutsen $100
Mrs. Elizabeth Blaine Petroutsen $100
Mr. John Timothy Pettie $100
Mrs. Lucille Gray Pettis $100
Mrs. Maude Beeland Pipes $100
Mr. Samuel Wesley Pipes, III $100
Mr. Daniel Pratt $100
Mr. Thomas Pullen $100
Mrs. Mary Hammond Purdy $100
Mrs. Margaret Cook Quinn $100
Mrs. Jean Faulk Radcliff $100
William Bradshaw Radcliff $100
Mr. Robert Herndon Radcliff, Jr. $100
Mr. Benjamin Morgan Radcliff $100
Mrs. Virginia Knight Radney $100
Mr. Marrion Benjamin Rambeau $100
Mrs. Louise Ulmer Rapier $100
Mrs. Dorothy Ann Outlaw Rayford $100
Wm Benneville Rhodes Rayford $100
Mrs. Elizabeth Anne Regan $100
Mr. Richard Daniel Reitz $100
Mrs. Gail Whitehurst Reitz $100
Mrs. M. Lynne Chapman Rencher $100
Mr. Horace L. “Rip” Rhorer $100
Mrs. Margaret Crane Rhorer $100
Mrs. Claudia Walker Riggin $100
Mr. Donald Harris Rockwell $100
Mr. Charles Rogers $100
Mrs. Jeanne Ellen Barnes Royster $100
Mr. Francis Brooks Royster $100
Mrs. Mary Jones Rubira $100
Mr. Eladio Rubira $100
Mr. Eladio Rubira, II $100
Mr. Robert Holcomb Rutledge $100
Mr. Yetta Samford $100
Mrs. Carol Schrőeer Schatzman $100
Mr. Lee Roe Seifert $100
Mr. Thomas Elliott Shields $100
Mr. Brian “Rob” Slater $100
Mrs. Frances Tatum Smith $100
Mrs. Mary Elizabeth Spottswood $100
Mr. Sam Black St. John $100
Mickey Dodson, Building & Grounds
Volunteer
Mrs. Carolyn Shepard St. John $100
Dr. Selden Harbour Stephens, Jr. $100
Mr. John Stephenson $100
Mrs. Laurel Ann Primo Stewart $100
John Merchant Stokes $100
Mr. Frank Singleton Stone $100
Mrs. Mary Joe Tacon $100
Maj. Gen. Avelin Paul Tacon, Jr. $100
Mr. Sterling Andrew Tatum $100
Mr. Gordon Tatum, Jr. $100
Mrs. Frances Rogers Taylor $100
Mrs. Georgine Field Trice $100
Mrs. Bernice Quigley Tucker $100
Mrs. Harriet Acree Turner $100
Mrs. Krista Harrington Vaughan $100
Mrs. Carolyn Maxwell Walden $100
Mrs. Eileen McDonald Walker $100
Mrs. Mary Anne Finch Wallace $100
Mr. Joe Pugh Waller $100
Mrs. Jennie Clinton Wentworth $100
Mr. Herbert Leonard West, Jr. $100
Mrs. Peggy Barks White-Spunner $100
Mrs. Frances Leatherbury Williams $100
Mrs. Barbara Whatley Wooley $100
Dr. Ralph Denny Wright $100
Mr. John Harrison Wright, Jr. $100
Mrs. Shirley Trovinger Young $100
Mr. Joseph Vincent Zarzour $100
Mrs. Rita Rosalyn Schwartz Zarzour$100
The Reverend Samuel Hardman,
Priest Associate
PURPOSE
1. To provide the ideal means of perpetuating the memory of loved ones in a most significant manner;
2. To provide a most appropriate means to pay living tribute to loved ones on occasions of importance, or simply to make a gift of thanksgiving or celebration; 3. To provide a most meaningful means by which the Church may receive bequests; and 4. To establish a perpetual, vital, and ever- growing endowment fund to preserve and strengthen St. Paul’s Episcopal Church.
FLEXIBILITY
Flexibility and discretionary use of the income are the keys to the success of the Perpetual Memorial Endowment Fund. However, the principal amount of the Fund cannot be spent, pledged, or otherwise committed without prior approval of both Vestry and Congregation. Upon receipt of an initial, or additional gift, the following memorial procedure will be followed: 1. Once a year the honored person’s name will be published in a special Annual Report of the St. Paul’s Church Perpetual Memorial & Endowment Fund. This Report,
in addition to listing the names of all honored members, will also cover activities of the past year: receipts, disbursements, financial position, current programs, and the like. It will be mailed to each member of St. Paul’s Church, and to contributors outside the parish. 2. For all gifts, notification will be sent to the next-of-kin (or the honored person in the case of living tributes) indicating the donor but not specifying the amount contributed. 3. Anonymous gifts may be made, such as insurance policies on a donor’s life, during the donor’s lifetime.
TAX ADVANTAGES
The St. Paul’s Church Perpetual Memorial & Endowment Fund is structured so that it awards the fullest tax advantage to donors provided by law. In case of major tax consideration, and concerning bequests, prospective donors are urged to consult their own counsel. St. Paul’s will cooperate with those professionals, but can, of course, render no legal advice. By contributing securities which have significantly appreciated in value, it may be to a donor’s advantage to establish at this time a major endowment which can be added to periodically thereafter.
About the Fund
DID YOU KNOW?
Using appreciated securities to make your gift delivers more tax benefits to you than using cash?
You can help guarantee the church’s future financial strength - help ensure that its work will endure and flourish - without affecting your assets or your financial security during your lifetime?
You can turn surplus life insurance coverage into a charitable gift, or create an endowment from your income rather than principal?
Life-income gifts offer one of the most significant tax benefits that the IRS still provides to individuals?
Other planned giving strategies include outright bequests, donations of residence or farm while reserving usufruct, creation of a lifetime trust, and transfer of assets of small family foundations.
ST. PAUL’S EPISCOPAL
CHURCH ENDOWMENT
COMMITTEE
Rob Hinckle
Marshall Shields
Palmer Whiting
Tim DeLong
Libba Latham
The Rev. John Riggin
Sarah Jo Roush, Christian Ed and
Children’s Chapel
2014 Financial Report (as of September 30, 2014)
St. Paul’s Episcopal Church Endowment
Original Balance:
$10,000.00
Transfer from Memorial Accounts:
$40,000.00
Endowment Net Assets as of September 30, 2014:
$50,000.00
The Investment Committee opened an investment account for the Endowment balance in September 2014. The asset allocation, investment philosophies and management procedures of the account will be directed by the Investment Policy Statement, ratified by the Church Vestry in September 2014.
Resolution A RESOLUTION TO AMEND AN ENDOWMENT FUND FOR
ST. PAUL’S EPISCOPAL CHURCH, MOBILE, ALABAMA
AMENDMENT OF AN ENDOWMENT FUND
WHEREAS, the Vestry of St. Paul’s Episcopal Church of Mobile, Alabama voted on October 10, 2005 to establish an endowment fund for St. Paul’s Episcopal Church; and WHEREAS, a recently established committee has reviewed the resolution and proposes the following amendments; now, therefore be it
RESOLVED, We, the Vestry of St. Paul’s Episcopal Church of Mobile, Alabama (hereinafter referred to as “The Church”) move to amend the St. Paul’s Episcopal Church of Mobile, Alabama Endowment Fund (hereinafter referred to as “The Endowment Fund”), as a permanent fund of The Church. I. The Endowment Fund is created and exists solely for the charitable purposes of The
Church, to be used first for preservation of the Church’s physical plant (maintenance), secondly to expand and enrich the outreach mission and ministry of The Church, locally and globally, and thirdly for Christian education.
II. The Endowment Fund shall receive and hold all gifts made to The Church, from sources such as bequests, gift annuities, insurance policies, trusts or other planned or deferred arrangements, as well as specific, designated cash gifts. III. Each year The Endowment Committee shall make available from the Endowment Fund to
The Church an amount up to 5% of the value of the Endowment Fund, as determined on December 31 of the prior year, however, the amount distributed to the Church shall not exceed the total of capital gain, interest, dividends and other income accrued by the Endowment Fund for the year ended December 31 for which the distribution is calculated.
IV. The Endowment Fund shall exist under the authority of the Vestry, which shall create an Endowment Fund Committee to administer the Endowment Fund. The Endowment Fund
Committee shall report to and through the Senior Warden.
V. The Endowment Committee shall operate as follows:
A. The Endowment Committee shall consist of six members. The Senior Warden of The Church, the Rector and the Treasurer shall be members of the Endowment Committee. The remaining three members (“At Large Members”) shall be appointed by the Vestry. The At Large Members shall serve three year terms; except that one of the initial At Large Members will serve a one year term and another shall serve a two year term. Each At Large Member shall serve as Chairman during his or her third year on the committee. Initially, the At Large Member serving a one year term shall be the Chairman, in the second year the At Large member serving a two year term shall be Chairman, and in the third year the At Large member serving a three year term shall be Chairman. Thereafter, the At Large Member with two years of prior experience shall be Chairman. Appointment to the committee shall be made at the first regular Vestry Meeting. Members shall serve until the successors are appointed. In the event a Committee Member dies, resigns or is otherwise unavailable to serve, or an At Large Member becomes the Senior Warden or Treasurer, the Vestry shall appoint a Vestry member to serve for the remainder of the departed member’s term. The Vestry may remove a member of the Endowment Committee by a three/fourths (3/4) vote of the Vestry.
B. The Committee shall meet at least quarterly. C. A quorum shall consist of a majority of the membership. D. A majority present and voting shall carry any motion or resolution. E. The Committee shall elect a Recording Secretary who shall maintain complete and accurate minutes of all meetings. Minutes shall be supplied to all members. VI. The Endowment Fund Committee is empowered to act as follows: A. Be the fiscal agents for the Endowment Fund.
B. Accept and acknowledge un-restricted gifts to The Endowment Fund or other gifts as specified in paragraph VI.C. below. C. Review any gifts with restrictions or designations that are proposed to be placed in The Endowment Fund with regard to their compliance with the corporate purpose and the exempt status of The Church. The recommendations of The Endowment Fund Committee to accept or decline a gift for inclusion in The Endowment Fund shall be reported to the Vestry. D. Arrange for the monies of The Endowment Fund to be invested in such a way as to achieve a reasonable and adequate growth of the fund while not incurring significant risk to the principal of the fund. E. Maintain a record of all gifts to The Endowment Fund: The value, the donor, the date and the type of each gift, as well as any formal expression by the donor(s) of the use to which the gift might be put. F. Maintain a complete accounting of all investments, including investment vehicles used from time to time, the principal of the fund, capital gains, earned income and dividends, distributions and expenses. G. Report to the Vestry at least quarterly the current state of The Endowment Fund. Report to the Congregation at least annually the current state of The Endowment Fund, including a statement of any distributions from The Endowment Fund, and of the amount of money currently available for distribution.
H. Promote and advertise The Endowment Fund frequently and consistently throughout The Church and its membership. Costs for this activity may be charged to The Endowment Fund. VII. The Vestry shall determine the projects/purposes for which funds are distributed, which
shall be used first for preservation of the Church’s physical plant (maintenance), secondly to expand and enrich the outreach mission and ministry of The Church, locally and globally, and thirdly for Christian education.
VIII. Any portion of the Annual, distributable funds not distributed in any given year will be retained in The Endowment Fund for expenditure in future years, upon recommendation of the Vestry. IX. None of the monies of The Endowment Fund will be used to support the following: A. Propaganda or other attempts to influence legislation. B. Political campaigns on behalf of any candidate for public office. C. The programs of The Church regularly funded by pledges and contributions of members, except in cases of extreme emergency determined by the Vestry, and with prior approval of both the Vestry and a majority of the Congregation present on any given Sunday. Notice of the vote shall be posted I n the Church Bulletin. X. The Finance Committee of The Church shall be responsible for an annual audit of The Endowment Fund and shall hire a certified public accountant, who is not a member of The Endowment Committee, to provide a report. The costs associated therewith may be charged to The Endowment Fund. The findings and recommendations of the Finance Committee shall be presented to the Vestry annually.
XI. The covenants of The Endowment Fund may be amended by a three/fourths (3/4) favorable vote of the Vestry. XII. The principal amount of the fund cannot be spent, pledged, or otherwise committed
without prior approval of both the Vestry and a majority of the Congregation present on any given Sunday. Notice of the Congregation vote shall be posted in the Church Bulletin.
Ways to Give
Complete the Endowment enrollment form on the back of the enclosed envelope.
Donate online at www.stpaulschurchmobile.com
Update your will with the following language:
“I, [name], of [city, state, zip], give, devise and bequeath to The St. Paul’s
Perpetual Memorial Endowment Fund [specific amount, or percentage of the
estate, or description of property] for its unrestricted use and purpose.”
To transfer appreciated securities or cash contact Brenda Ferguson in the Church Office.
Call the Church Office at 251-342-8521 to be contacted by a member of the Endowment
Committee.
TO ALL DONORS:
Despite our efforts to avoid them, errors sometimes occur in the process of producing a
publication such as this. If a name has been accidentally misprinted, please notify us and
accept our sincere apologies.
Contact: Pamela Moore
(251) 342-8521
Email: [email protected]
For your loved one to be listed in the Annual Endowment Booklet ,
please make your gift of $100 by December 31, 2015
4051 Old Shell Road Mobile, Alabama 36608 (251) 342-8521