St. Luke's Foundation
The History
In 1961, the St. Luke’s Methodist Church Foundation was created to benefit the programs and ministries of St. Luke’s United Methodist Church and to enable the Church to provide consistent quality ministries even in challenging economic times. Capital campaigns for debt retirement and building programs have competed with the Foundation for emphasis and visibility; however, over time, members with great vision have helped to increase the assets of the Foundation to support scholarships and church programs, property and building maintenance, as well as to perpetuate pledges.
The "Fellowship of the Spire"
The long term vision was to create a group of St. Luke’s members who would give thoughtful consideration to the great legacy of our church and determine how, through planned giving, they could ensure that St. Luke’s could continue the ministries of Jesus Christ to generations to come. Making our church members more aware of the existence of the Foundation is the purpose of The Fellowship of the Spire. If you would like to be part of continuing the success of the Foundation, please consider making a gift through one of the following:
- Bequests in Wills
- Real Estate
- Memorials
- Retirement Plan/IRA
- Annuities
- Life Insurance
- Trusts and Estates
- Appreciated Assets
The Foundation Supports Programs and Ministries
The Board of Directors attempts to keep the Foundation very donor friendly. Some church members have perpetuated their annual pledges; others have provided gifts and/or bequests for property maintenance; some have helped to create one of the scholarships endowed through the Foundation; still others have created endowments to support youth, music, Older Adults, and outreach. Many of the gifts received by the Foundation are undesignated in recognition that needs change and future Foundation Directors need some resources to meet those changing needs. Presently approximately 20% of the net assets of the Foundation are unrestricted and 80% restricted.
Investment Management
The Foundation board, with the advice of the Investment Committee, has diversified our investments by revising our investment approach. The board recently voted to hire Northern Trust to manage the majority of its investments to protect capital, reduce risks, and obtain a reasonable return for the foundation in a most challenging economic climate. The board also invests with the Texas Methodist Foundation. The foundation remains committed to good stewardship, prudence, and long-term performance. The value of the Foundation’s managed portfolio as of Dec. 31, 2010 was $11,762,409.
The Board of Directors
The St. Luke’s Methodist Church Foundation is a Texas non-profit corporation and has a governing board of nine persons, four of whom are elected by the Board of Trustees of the St. Luke’s United Methodist Church and five of whom are elected by the Board of Directors of the St. Luke’s Methodist Church Foundation. The immediate past president remains as a member of the Board as well. The members of the Board of Directors are Warren Fisher (President), Ed Ashbaugh, Richard Hightower, Charles Szalkowski (Past President), Kathy Munger, Mark Evans, Celia Veselka, Chip Cureton, and Joe Bridges.
