The First Presbyterian Wichita Foundation, Inc. exists for the sole purpose of creating a perpetual endowment to benefit and further the religious, charitable, and educational purposes and interests of First Presbyterian Church. A portion of the growth, interest and dividend earnings received each year is given to the Church in the form of a non-designated gift. The goal of the Foundation is to see assets grow, creating more opportunity for increasing dividends and interest income. This permits a growing income stream to First Presbyterian Church.
Annually, five percent of the three year average total valuation of all assets of the Foundation is distributed, without restriction, to the Church. In 2017 the Foundation will distribute approximately $237,000. Since the Foundation’s first distribution of $355 in 1968, the Foundation has distributed a cumulative total of over three and a half million dollars to the Church.
Governance and Investment
Governance of the Foundation and oversight of its portfolio is entrusted to a nine member Board of Trustees all of whom are members of First Presbyterian Church. Trustees serve for five-year terms and are not eligible to serve consecutive terms. The primary investment objective of the Foundation is to invest the assets to obtain capital appreciation over the long term, without taking undue risk. The nature of the investments may vary depending on the trend of the world, national, and local economies. Because of the Foundation’s long term view of the markets, the Foundation may choose to hold investments even during significant market declines, providing the investments are viewed to have long term value.
Gifts To The Foundation
Each one of us will leave some kind of legacy. The legacy we leave will bear witness to the commitments that shape our lives, including our faith. As you can see, many at First Presbyterian Church have included the Foundation as a last act of stewardship. Through “the Gift that Keeps on Giving” to the Foundation you can be a part of the continuing mission and ministry of First Presbyterian Church.
Gifts to the Foundation may take many forms:
Wills and Bequests Life Insurance
Gift Annuity Charitable Remainder Trust
Appreciated Stock & Assets Retirement Plans
The proper wording for a bequest to the Foundation is:
“and to the First Presbyterian Wichita Foundation, Inc., a Kansas
not-for-profit, located in Wichita, Kansas, . . ..”
You should work with your own financial, legal, and tax advisors to fashion the plan that best suits your needs and purposes.
We encourage you to prayerfully consider how you are called to support the mission and ministry of First Presbyterian Church in your estate plan. If you have any questions regarding the Foundation, please feel free to contact any member of the Foundation Board of Trustees.
(Link to Annual Report will be forthcoming)
Learn about our mission being carried out through Stewardship.