Foundation Board Holds Spring Meeting
The Christian Church Foundation Board of Directors during its recent meeting celebrated outstanding financial results in 2013, but quickly turned to looking to the future.
Excellent market performance, new deposits and $6.2 million in new gifts allowed the Foundation to close 2013 with $593.2 million in assets, the most in the Foundation’s 52-year history.
“While we are pleased with 2013, we need to do more to show that the Christian Church Foundation should be the first option for Christian Church (Disciples of Christ) ministries and institutions seeking investment strategies for their endowment funds,” said the
Rev. Gary Kidwell, Foundation president.
Board members, based on a recommendation from its Investment Committee, hired a new manager for real assets in the Joint Investment Trust and streamlined its allocation in inflation-protected securities by eliminating one manager.
The Board, as part of its role in overseeing the investment program, voted to keep for 2015 the “income” designation for the four investment funds at 2014 levels:
- Brown Income Fund, which seeks income from a conservative asset allocation: Income for 2015 will be 3%
- Common Balanced Fund, which seeks a total return from a moderate asset allocation: Income for 2015 will be 4%
- Beasley Growth Fund, which seeks total return from a moderately aggressive asset allocation: Income for 2015 will be 4.5%
- Campbell Multi-Strategy Fund, which seeks equity-like returns with greater inflationary protection: Income for 2015 will be 5%.
In other business during the spring meeting in Indianapolis, Directors:
Named Oscar Haynes of Herndon, VA, as a recipient of the Harry T. Ice Distinguished Service Award, the highest honor the Foundation bestows on an individual.
- Re-elected Gloria Feliciano of Totowa, NJ; Linda Hull of Jacksonville, FL; the Rev. Samuel Robles Jr. of Orlando, FL; Todd Reed of Walton, KY; and Josué Torres of Bayamon, Puerto Rico; to three-year terms on the Board of Directors.
- Elected, to three-year terms starting in 2015, the Rev. Tayna Tyler, pastor of Chalice Christian Church in London, KY, and a freelance writer; and Sharon Worley, of Denver, CO, a CPA and partner in the firm of Ian D. Gardenswartz & Associates and a member of Central Christian Church in Denver.
The Board of Directors’ next meeting will be Nov. 7-9 in Ontario, CA.
The Christian Church Foundation is a general ministry of the Christian Church (Disciples of Christ) with the mission of undergirding ministry through permanent funds, planned gifts and prudent investment of funds owned by Disciples ministries. It is a donor-directed Foundation designed to benefit Disciples ministries and institutions. At the start of 2014, the Foundation was responsible for $593.2 million of the church’s money.
(May 2, 2014)