As a vital part of the Presbyterian Church (U.S.A.), the Foundation is committed to strengthening congregations and other Church mission and ministry efforts by developing gifts and stewarding funds on their behalf, and working together to build communities of generosity among their members and constituents. The Presbyterian Foundation provides all Presbyterians an avenue to realize their philanthropic goals through a variety of giving options, while maintaining a strong focus on the Reformed values that guide our stewardship and investment.
Each year millions of dollars are distributed to Presbyterian-related ministries as determined by our donors. The Foundation takes pride in fulfilling its obligation and responsibility to ensure gifts are distributed and used as the donor intended. Our dedicated team of Ministry Relations Officers assist donors in determining ways to give that best meets their needs.
Please take a few minutes to look through the pages of this Annual Report for 2013.
The Foundation’s new Online Giving system, the Presbyterian Mission Exchange, served a rapidly growing group of donors and beneficiaries in 2013.
452 donors made 1,272 gifts totaling $876,840 to 129 congregations and ministries. The number of churches and ministry partners more than tripled over the course of the year, and continues to grow in 2014.
The Presbyterian Mission Exchange is both easy to implement and easy to use for congregations and their supporters alike. There are no set-up or monthly fees, and a ministry can be up and running in the system usually within one business day.
Recurring gifts have been a favorite feature, with donors setting up gifts to recur on a weekly or monthly basis. This provides smooth and predictable income for the ministry, even on weeks when the donor is not able to be in church to drop a gift in the offering plate.
To visit the Presbyterian Mission Exchange, click here
The Foundation's investments performed well in 2013 following the changes that took place the year before. The permanent endowment funds, advised by Cambridge Associates, were up 13% for 2013, matching their policy benchmark.
Over the course of the year, Cambridge continued its work to diversify the portfolio according to the Policy Statement adopted by the Foundation's Board of Trustees.
New Covenant Funds, managed by SEI, also benefitted from the stock market's 2013 rally. The New Covenant Growth Fund was up 27.55%, and the popular New Covenant Balanced Growth Fund was up 15%. The New Covenant Income Fund was down -1.63% for 2013. To see investment performance and learn more about New Covenant Funds, click here
New Covenant Trust Company, the Foundation's subsidiary national bank, added accounts under management totaling $12.8 million in 2013.
The Presbyterian Foundation developed a program for Transformational Investment in Palestinian West Bank in 2013.
Working with the Presbyterian Mission Agency, several congregations, and partners in the region, the Foundation identified three initial projects for investments which focus on economic development and sustainable job creation through peaceful pursuits. The program’s ultimate objective is to contribute to the growth of a viable Palestinian state at peace with Israel.
Nearly $1 million has been invested so far in two of the projects – a loan for the construction of new facilities at Dar al-Kalima University College in Bethlehem, and a microfinance facility with the National Bank in Ramallah. The microfinance program has already made nine loans totaling $122,000 to women-owned businesses, including a tailor shop, a hair salon, and a nursery school. Additional funds are ready to invest in a third project – a renewable energy installation at an agricultural research and training facility near Jericho – as soon as negotiations and legal details have been finalized.
To learn more about our Transformational Investing program, click here
8% Presbyteries and Synods
33% Presbyterian Mission Agency and other GA entities
9% Education, including Theological Education
5% Health and Social Services Ministries
3% Other Mission and Discipleship
What’s ahead for 2014? The Foundation will continue to serve the Church, as it has for 215 years, by helping to raise, steward, and distribute funds for ministry and mission.
Our field staff of Ministry Relations Officers will continue to build relationships with congregations and ministries, and their leaders and donors, to facilitate gifts and create cultures of generosity.
We will continue to improve and expand our online giving system, adding functionality for managing Donor-Advised Funds and enhancing peer-to-peer fundraising systems.
Our new Wills program called Live Forward, Give Forward will help pastors and church leaders learn to talk with their members about bequest giving – often the largest and most impactful gifts donors ever make.
Our new endowment management services will allow congregations and related church entities to access the same investment management services for their long-term investments that the Foundation’s permanent endowments receive. And we will continue to ask our donors and beneficiaries, our constituents throughout the Church, “How can we better serve you?”
To learn more about our efforts, click here to contact us.