Here at St. Andrew’s we are fortunate to have the St. Andrew’s Foundation, where many families request gifts be made in memory of their loved ones. There may be some confusion about how to make these gifts. If you wish to make a memorial to the Foundation, the check must be made to St. Andrew’s Foundation, and mailed to 509 E. Twiggs Street, Tampa, 33602. At this time, we do not have the capacity to accept gifts to the Foundation electronically. Foundation monies are kept completely separate from the church operating account, so make your check payable to St. Andrew’s Episcopal Church Foundation if you wish for it to go to the Foundation! If you have any questions, please call our Administrator at 221-2035.
Many parishioners may not know much about the St. Andrew’s Foundation, but it was formed in 1964 ago by a thoughtful group of members: Glen Jennings, who provided the first $10,000; Arthur Gibbons, who drew up the documents concerning the governance of the Foundation; and his sister Mildred Gibbons, who served as the first Chairman. Through gifts over the years, earnings from the investments, and active management by the Advisory Committee of the Foundation, the net assets are over $1,900,000 today.
The Foundation is similar to a college endowment fund. The Foundation has funded special building improvements, trips for the youth in the summer, emergency maintenance of the church, maintenance of the church organ, and other matters that were not included in the church operating budget. The Foundation’s Advisory Committee meets with its investment advisor quarterly. Once a year, the Advisory Committee determines the amount available to be spent during the year. The amount can be no less than 2% nor more than 4% of the value of the Foundation’s assets. When setting the percentage, the Advisory Committee considers the investment advisor’s outlook for the year, the assets’ performance over the past three year and five year periods.
In recent years, giving to the Foundation has declined from prior periods, and the Committee is interested in increasing the visibility of the Foundation and increasing its assets and earning power. Historically, most gifts have been made as memorials or as contributions from estates. Please consider including the Foundation in your list of regular or special charitable contributions. The Advisory Committee hopes to increase donations from present levels through parishioners’ annual gifts or gifts made in recognition of special occasions. Growth of the Foundation’s assets will greatly assist St. Andrew’s in the years ahead and will enhance St. Andrew’s ability to accomplish its mission. Many large and historic churches have substantial foundations that ensure a stable operating budget and program management. We believe that in a reasonable time period, the St. Andrew’s Foundation could exceed $3 million in assets and provide over $100,000 annually for support of the church. Feel free to ask any Committee member for information on how you can assist us in this goal.
Pat Wolfe • Richard Ferlita • Martha Cobb • Gray Sanders • George Bedell