St. John's Episcopal Church, Norwood Parish
Building Community at the Crossroads of Faith and Life
Norwood Parish Fund
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WHAT is the Norwood Parish Fund?
The Norwood Parish Fund is a new fund established in January 2002 by the Vestry of St. John's to consolidate existing gifts and endowments in one place, and to create a means of funding outreach and development projects outside the regular operating budget of the parish. The Vestry resolution establishing the fund reads in part:
"...that the purpose of this FUND is to enable St. John's to more completely fulfill its mission by developing its ministries beyond what is possible through its annual operating funds, and therefore that distributions from the fund shall be limited to (i) capital needs of St. John's (ii) outreach ministries (iii) seed money for new ministries and special one-time projects and (iv) such other purposes as are specifically designated by donors whose gifts are included in the FUND."
WHY did the Vestry choose to take this step?
There were a number of motivations. There was a desire to create a substantial endowment whose income could help avoid special appeals and campaigns for emergent needs, such as the renovation of the tower. There was a desire to consolidate existing endowment and other such funds in a single fund to create a more substantial corpus and to permit more intentional management. There was a wish to establish a uniform policy for the disposition of special gifts to the parish outside normal pledge giving. And there was a desire to set up an attractive fund in support of a campaign for planned giving in the parish.
WHO will be involved in the fund?
The Vestry has appointed a Board in accordance with the implementing resolution. The members of the board are: The Rector and one Warden (ex officio). Currently the Junior Warden, Richard Saltsman is serving. Other members are Sandi Lee, Kay Titus, Earle O'Donnell, John Welch, and Robin Pirie (Chair). Presently the Board is tasked to recommend investment and disbursement policies for Vestry approval. Longer term the Board will also be implementing a program of planned giving in the parish, which will include information and presentations on estate planning and various giving options.
WHEN will there be visible output from the Board?
The Vestry has already received concept papers on investment and disbursement policy. The Board, with the able assistance of the Treasurer, is already active in investment policy. It is anticipated that initial disbursements from the fund will be made during 2003.
HOW can a parish group or individual make application for a grant from the fund? And how can parish members get more information on making bequests or other planned gifts to St. John's?
Detailed instructions for making application for grants will be available this autumn. In general applications should be justified in terms of the principles in the chartering resolution, quoted above. The board will screen applications and forward those that meet the criteria to the vestry for action.
Information on planned giving can be obtained from any of the members of the board listed above.
This report prepared by the Norwood Parish Fund Board, September 2002
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