Endowment Challenge Givers
(Endowment Challenge Givers as of March 31)
Baker, Bill & Pat
Bobo, Don & Nancy
Brainard, Don & Cheryl
Brunton, Tom & Peg
Bucci, Steve & Barbara
Farri, Joe & Judy
Fowle, David & Liz
Gerow, Tom & Pam
Harkness, Ken & Jane
Hedgepeth, Royster & Katherine
Hitchcock, Tom & Livy
Martin, Steve & Julie
McElroy, Jack & Kathy
Miller, Joan Rosko
Miller, Ron & Lynda
Pulley, Danny Lee & Robert
Richards, Bill & Beth
Rowe, Dick & Shannon
Singer, Michael & Teresa
Stewart, Jay & Jeanne
Swindell, Bob & Kay
Van Amberg, Brad & Beth
Weig, Spencer & Ellen
Wright, Larry and Merry Ann
Letter to the Parish
April 12, 2021
We are delighted to announce that the March Match-ness Endowment Challenge has successfully reached and exceeded its goal of $5,000. As of April 12, we have raised $8,699.87, maximizing the opportunity presented to us by an anonymous donor, and replenishing our Endowment Fund with more than $13,000. Thank you, St. Paul’s faithful! Once again you have demonstrated your enduring commitment to being beacons of God’s love and light, and we are extremely grateful.
While we have met our goal, additional gifts are welcome and will directly benefit the Endowment in its quest to support St. Paul’s beyond what is possible through the annual operating budget. If you wish to contribute, we invite you to:
- Use St. Paul’s online payment option, especially if you wish to pay by credit card. Select “Endowment Challenge” from the Gift/Donation dropdown menu here.
- Write a check to St. Paul’s Episcopal Church. Please add “Endowment Challenge” to the memo line, and then mail the check to St. Paul’s (16 N. 16th St., Wilmington NC 28401) or drop it in the collection basket at a Sunday service this month.
Your generosity is an inspiration as we work together, with God’s help, to ensure that St. Paul’s remains a thriving and vibrant church now and for future generations.
In love and thanksgiving,
Your March Match-Ness Team:
Karen Day, Julie Martin, Anne O’Dell, Rhonda Stroud, Spencer Weig, Merry Ann Wright
FAQs About St. Paul's Endowment Fund
Established in 2008 and managed by a board appointed by the Vestry, the Endowment Fund provides much needed financial support for special projects and programs at St. Paul’s. To learn more, see the answers to common questions about the Fund, below.
When was the Endowment Fund established?
The Vestry of St. Paul’s Episcopal Church established the Endowment Fund in 2008 in recognition of the need to manage the church’s financial resources faithfully and responsibly.
Why was the Endowment Fund established?
The Endowment Fund was established because of the generosity of parishioners who believed in supporting St. Paul’s in perpetuity and developing its ministries beyond what is possible through the annual operating budget.
How much money is in the Endowment Fund?
The total amount of money in the Endowment Fund fluctuates daily. As of Jan. 31, 2021, the investment balance was $934,270.
Within the Fund, monies are designated as either Restricted (only available for specific purposes set forth by the donor) or Unrestricted (available for the purposes set forth in the Fund’s Policies & Procedures).
The total amount in the Endowment Fund is not permitted to go below $853,678 to ensure its existence for future generations.
Who manages the Endowment Fund?
The Endowment Board, appointed by the Vestry, oversees the Fund, and engages the professional services of Wells Fargo Advisors to manage the Fund.
Endowment Board members are:
- Tom Brunton
- Virginia Chiarello
- Karen Day
- Anne O’Dell
- Laura Padgett (Chair)
Non-voting ex-officio members include the Rector, Senior Warden and Treasurer.
How are Endowment Funds used by the Church?
The Endowment Fund’s Policies & Procedures clearly state that distributions may only be used for:
- Capital needs of St. Paul’s
- Outreach ministries and grants
- Seed money for new ministries and special one-time projects
- Purposes specifically designated by the donors
What specific projects has the Endowment Fund supported?
Between 2015 and 2020, Endowment Funds have supported a range of projects, including the following:
- Two years of seed money for the new Assistant Rector ministry
- Purchase and improvements to the Ormond Center
- Kitchen renovations
- Replacement of at least one or two of the church’s 13 HVAC units each year
- Repair and restoration of the steeple March 2021