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St. Peter's Endowment Fund
The St. Peter’s Endowment Fund was established on Nov. 25, 2001. It has basically been
dormant since that time.
At The Rev. Catherine Hicks’s request, a committee was formed this year to study the original
document and make recommendations. Members of this committee were Johnny Davis, Boyd
Wisdom, Clarence Kunstmann, Ben Hicks and Catherine. After a number of months, the
committee recommended an Amended Document. This was unanimously approved by the
vestry.
The purpose of the Endowment Fund is to ensure a firm financial foundation for the parish and
to provide additional funds for outreach. It is not for yearly operational expenses.
The Fund is managed by a Board of Trustees consisting of three members appointed by a
majority vote of the vestry. The group will meet at least once each year. The following were
appointed:
1.
Johnny Davis -- A three year term
2.
Helmut Linne von Berg -- A two year term
3.
Susan Tilt -- A one year term
The Board members serve at the pleasure of the vestry. Catherine, our priest, serves as an ex-
officio non-voting member of the Board of Trustees.
St. Peter’s currently has $1500 earmarked for the Endowment Fund. An account to hold these
funds will be opened with The Trustees of the Funds of the Diocese of Virginia. This will be
separate from any account the church has now.
The Fund will be used for:
1.
Long term expenses of the church (including capital acquisitions, improvements,
renovations and replacements.
2.
Outreach ministries
The Endowment Fund shall be funded by “inter-vivos” gifts and contributions as well as
bequests of cash and other donations such as securities, life insurance policies, real estate, etc.