From left, Bob Williams, vice chair; Rod Witte, chair; and Gary Kidwell, president
Foundation in best financial condition, Board told
The Christian Church Foundation is in the best financial condition of its 55-year history, Senior Vice President Ruth Weaver reported to the Foundation Board of Directors.
The Board, at its fall meeting, approved a 2017 operating budget that offers services to the church below actual costs. This is possible because of earnings from the Foundation’s endowment. Strong market returns and partnerships with a growing number of ministries have increased the Foundation’s total assets under management.
“We’ve preached for years and years about the importance of endowments as an additional stream of income,” said Foundation President Gary Kidwell. “Because of distributions from gifts that were given to support the Foundation’s ministry, we are able to support the services that the Foundation provides to individuals and ministries at no cost to them.”
Endowment earnings provide vital support. “I think we’ve become our own best example of how endowments can expand ministry,” said Vice President and Controller Lori Lucas.
In other business, the Board:
- Elected officers for 2017: Bob Williams of Dallas, TX, will become Board chair; Todd Reed of Walton, KY, will become Board vice chair; and Debra Clayton of Topeka, KS, will become Board secretary. John May of Wilmington, NC, was elected chair of the Investment Committee.
- Reaffirmed its commitment to be a faith-based and values-driven investor to address social and environmental issues in the world. In partnership with the Pension Fund and Disciples Church Extension Fund, a resolution will be drafted for consideration at the 2017 General Assembly.
- Welcomed the Rev. Heather Simpson of Uniontown, PA, and Marvin Anderson of St. Louis, MO, to the Board with terms starting in 2017. Also welcomed was the Rev. David Yonker of Burlington, IA, who is filling an unexpired term.
- Honored retiring Board members Rod Witte of Lakewood, CO, and the Rev. Joan Bell-Haynes of Herndon, VA.
The Board will hold its next meeting April 23-25, 2017, in Indianapolis.
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 2016, the Foundation was responsible for $600 million of the church’s money.
2017 Board Chair Bob Williams visits with
incoming Vice Chair Todd Reed