First Baptist has a Foundation that manages an endowment fund to provide financial grants for various church programs. For more information on the Foundation and the endowment fund, see the questions and answers below.
When and why was the FBC Foundation started?
The First Baptist Church Foundation was incorporated in 1999 to create an endowment fund that would meet several needs and objectives that were expressed by the FBC congregation at that time.
- To provide a source of supplemental funding for the
congregation’s ministries and projects. The fund is not for external community organizations.
- To provide a mechanism for people to donate not only cash but also non-cash items that cannot be donated to FBC directly: real estate, stock, valuables, precious metals, and will bequests.
- To keep donations in the endowment fund as a permanent investment, with distribution (grants) from dividends and interest only.
How is the Foundation organized?
The Foundation is a corporation within the State of Idaho with rules and by-laws separate from the church. The Foundation has a Board of Directors, elected each January by the congregation. As part of the by-laws, the church’s pastor always sits on the Board. The Board’s responsibilities are to manage the endowment fund and to make decisions regarding grant requests.
Board of Directors for 2010
Dick Vail, President
Wes Andres, Secretary
Bob Browning, Treasurer
Joan Andres, Director
Lee Peterson, Director
Sally Lindemann, Director
Ken Smith, Director
How big is the fund and what is the investment strategy?
The endowment fund’s 2010 value averages just over $70,000. The funds are kept in a variety of reliable, lower-risk investment instruments that are managed by the Board of Directors. In the 11 years since it started, the fund has not grown as much as was hoped, due to dwindling donations and low returns on investments. As the economy improves over the next few years, we hope more people will consider contributing to the fund. Obviously, the greater the fund becomes, the greater the earnings available for distribution.
How much is given in grants each year and for what things?
Most grants are in the $500-$2000 range, and often the money is given to match dollar-for-dollar funding from other sources. There is no minimum or maximum amount awarded each year. In years when no grants are awarded, the dividends and interest are reinvested into the Fund, allowing it to grow for future years.
Some of the projects that have been funded in part or in whole by the Foundation include:
•Music soundboard equipment (2001)
Music soundboard equipment (2001)•Greenhouse kitchen appliances (2006)
Greenhouse kitchen appliances (2006)•Youth mission activity (upcoming in 2011)
Youth mission activity (upcoming in 2011) •Mission trips (2001, 2007)
Mission trips (2001, 2007)•Financial Peace University curriculum (2007)
Financial Peace University curriculum (2007) What is the process to donate to the Endowment fund?
If you would like to help the endowment fund grow by making a donation, simply contact any of the Directors for specifics. Cash or check donations are accepted in any amount. In the case of non-liquid contributions such as works of art or real estate, the Directors will work with you on a process to transfer the item to the Foundation. The contribution may be held by the Foundation for future sale or liquidated immediately and put into an investment account.
Non-cash donations can be made available for immediate investment or at some point in the future (for example, a will bequest that designates an amount to be given to the Foundation upon your death).
How can I request a grant for my ministry?
If your FBC ministry or program wants to request funds for a specific project or purchase, you can contact Dick Vail or any of the Directors. They will ask you to put it in writing, providing as much detail as possible about how much you are requesting and for what purpose.
There is no minimum or maximum amount you can request. The maximum amount granted in any single year is, of course, dependent on the dividends and interest earned on the principal in the Fund.
