The Fountain Street Church Foundation Board oversees the invested funds, which are used to improve the building and provide resources for some dedicated funds. The nine members are appointed by the congregation, the Governing Board, and the Senior Minister. They oversee investment policy and practices and promote planned giving through the Liberal Legacy Society. They also manage dedicated funds that support the Choice Fund, art, elder support, social action, religious education, music, and the Duncan Littlefair Great Speakers Series. No funds from the Foundation support basic operations or staffing.
Liberal Legacy Society
The Liberal Legacy Society is a way for the FSC Foundation to recognize those who make a commitment to the sustained future of our church. A lifetime membership is offered to those who have informed the Foundation of a designated gift in their estate plan, naming the Foundation as a beneficiary of an insurance policy or retirement plan, or by making a current gift of at least $5,000. An annual membership is available to those who make a $100 minimum annual gift to the Foundation.
Giving can be a very personal and individual expression of one's values. Some of the most frequently used ways to make this type of commitment are:
In your will/trust
A life income arrangement -- charitable remainder trust, charitable lead trust, charitable annuity trust, charitable gift annuity
Naming the Foundation as a beneficiary of an insurance policy or retirement plan
A gift of real estate -- house, farm, cottage, condo, commercial property
Gifts of art, antiques, and jewelry
Cash and securities
Should you choose to make a planned gift to the Foundation, we would encourage you to seek the counsel and advice of an estate planning attorney, an accountant, or other advisors who are familiar with your situation.
Current Foundation Board Members
Carol Townsend, Co-Chair
TJ Norris, Co-Chair
Bill Brunner, Secretary
Foundation Board Meeting Minutes
Q: What is the purpose of the Foundation?
A: The Foundation was established for a twofold mission. First, it ensures that our beloved and historic building will always be maintained and improved. Second, seven specific sub-funds have been established to support music, art and social justice programs. To accomplish the vision, 5% of the fund balance (averaged over the past 3 years) is given to the church.
In January 2021, the contribution was about $196,000.
$135,148 — Building Capital Repair Fund
$30,000 — Building Casualty Insurance
$9,000 — Building Security
$6,088 — Gilson Fund - Music
$4,787 — Frey Fund - Choice
$3,072 — Waring / Field Fund - Elder Care
$2,837 — McCall / Earl Fund - Art Committee
$2,483 — Kurkjian / Wabeke - Education
$1,787 — Duncan Littlefair Great Speakers
$966 — Rankin Fund - Social Action
Q: A significant portion of the annual allocation goes to building maintenance and improvements. Can that ever change?
A: Yes, the Foundation Board can change the allocation formula in regard to building maintenance and improvements.
Q: How can the fund give 5% to the church and still maintain its balance?
A: The fund grows much the same as your personal nest egg grows. First, it is funded by individual contributions from supporters like you. Second, the fund is invested in a wide range of mutual funds that both grow in value and can also return a dividend to the fund.
Q: How can I financially support the work of the Foundation?
A: There are several ways to contribute to the Foundation. An annual gift of $100 or more makes you a member of the Liberal Legacy Society. A contribution of $5,000 honors you as a Lifetime Member. Also, making the Foundation a part of your estate plan or will is a great way to support the Foundation without an immediate outlay of cash. And whenever you make an “In Memory Of” contribution to the church, or when you order a Memorial Tile for the Tower Room, those monies go directly to the Foundation.
Q: Are there other ways to support the Foundation?
A: You bet there are! Each year, the terms of three members of the Foundation Board expire. A member can serve two terms of three years each. Starting each September, we look for new board members. Commitment of time is a monthly meeting, serving on a goals committee and generally spreading the word about the importance of the Foundation.
Another way is to encourage your friends and family to become Foundation supporters. Our work is important for the long-term sustainability of the church.