The Gift That Keeps On Giving
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 twelve (12) previous consecutive quarter average total valuation of all assets of the Foundation is distributed, without restriction, to the Church. In 2022 the Foundation will distribute approximately $291,400. Since the Foundation’s first distribution of $355 in 1968, the Foundation has distributed a cumulative total of over four and a half million dollars to the Church.
Governance and Investment
Governance of the Foundation and oversight of its portfolio is entrusted to a six-member Board of Trustees all of whom are members of First Presbyterian Church. A trustee shall be elected by the membership at its annual meeting for a term of three years. Any trustee who has served for five consecutive years shall not be eligible for re-election for a period of one year. The primary investment objective of the Foundation is to invest the assets to obtain capital appreciation over the long term, without taking undue risk. In April 2020, the Foundation retained Commerce Trust Company, a division of Commerce Bank, to manage the investments.
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.
Learn about our mission being carried out through Stewardship.