St. John's Episcopal Church
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THE POWER OF PLANNED GIVING

Elliott Fund

 

  • In 1941 Mr. Elliott left the church $143,000
  • 40% of the income of the fund was to go for church operations
  • 60% was to go for seminarian education and other charitable purposes
  • In the 70 years since the bequest was made the fund has:
  1. Distributed just over $2 million to the operating account of St. John’s providing on average 15% of our annual operating budget.
  2. Distributed over $3 million in direct seminarian support and charitable grant requests.
  3.  From an initial bequest of $143,000 the fund has made a total $5 million in distributions and despite the fact that we are still recovering from the worst investment  market in a generation,  as of the end of 2010 the fund has still grown to almost 20 times the original value.

Smithson/Kyle Fund

  • The Smithson/Kyle Fund was established in 1985. The total contributed from the Smithson estate over the next few years through 1991 total approximately $450,000.  Unlike the Elliott Fund, which is a permanent endowment fund, Mr. Smithson left the use of his planned gift to the discretion of the Vestry.
  • The Kyle House was purchased in 1991with proceeds from the Smithson gift at a cost of $250,000. Inspection expenses, repairs etc brought the total cost to $276,376.
  • The Smithson/Kyle Fund has been paying $24,000 a year to the Capital Campaign/Building Fund each year since the campaign began.
  • In December 2010, the Smithson/Kyle Fund contributed $250,152 to enable the Building Loan to be retired.  The Vestry approved naming our multi-purpose room Smithson Hall.
  • From Mr. Smithson’s original gift of $450,000 the Vestry has disbursed almost twice that amount and the current value of the fund still exceeds the original gift.

That is the power of endowment and planned giving!

 

  
St. John's Episcopal Church
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St. John's Episcopal Church

May 9 - Hal Broadfoot Jr. shares a story about life's surprising interconnections for the Wednesday Dinner Program at 6 p.m. After the program, please stay for an important outreach project! May 13 - Senior Recognition and Youth Sunday! Children's choir sings at the 10:30 a.m. service!

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