Addressing Long-Term Needs
The Endowment was created by the Vestry in 2002. It provides a way for parishioners to contribute to the long-term needs of the Church through donations to several funds. These funds support projects within specific areas of church life. The Endowment does not pay routine expenses or supplement the operating budget, which is supported primarily by annual pledges.
Board
A five-member board, approved by the Vestry, manages the Endowment. Their responsibilities include establishing individual Endowment Funds; accepting gifts, bequests and donations; investing the funds in a diverse and balanced portfolio in order to achieve stable growth; and distributing the fund’s assets consistent with the Endowment and the individual fund charters. The current Board members are Karen Wiedemann (co-chair), Kim Bayliss (co-chair), Michael Summey (Treasurer), Malissa Zimmerman (Secretary), and Matt Ossolinski (architect).
The Endowment Board has regular quarterly meetings. In 2024, the meetings are scheduled to be held on
- January 12
- April 6 (Date change)
- July 13
- October 12
Meetings are generally held in person or via Zoom at 1:00 pm. Please contact a Board member for more details if you would like to join a meeting.
Investments and Distribution
Contributions and bequests are currently invested in a low-cost mutual fund that is appropriate for the Endowment’s moderate to conservative investment goals.
Each year an amount of each fund available for distributions is calculated based on 5% of the 3-year rolling average of the fund’s valuation as of December 31 of that year. Available amounts that are not distributed in a given calendar year accrue and remain available for distribution in subsequent years.
Description of Funds
Building Preservation Fund
Set up in 1998 from sale of the rectory, this fund provides for improvements to church facilities.
Hoitsma Fund
Set up in 1981 through a gift from the Hoitsma family, this fund provides for long-term building improvements not covered by the operating budget.
General Fund
This fund receives general bequests and donations to support non-building related projects that further the overall mission of the church.
Verna Dozier Fund
Initially established in 2000 from funds donated, but not needed, for the Dozier window in the nave clerestory, this fund provides scholarships for college-bound seniors at Dunbar High School. Among criteria for selection is a student essay describing a person who made a deep impression on him/her as he/she was growing up. The Dunbar Alumni Federation (DAF) selects the recipient(s).
Craighill Dance Fund
Set up in 1984 by a gift from the Craighill family to support the St. Mark’s Dance Studio, this fund also includes the Beryl Martin Memorial Scholarship Fund for promising dancers.
Arts Fund
This fund was set up in 2002 to receive bequests and donations to benefit the arts at St. Mark’s.
Holtkamp Organ Fund
Set up in 1998, this fund provides for the capital needs of the Holtkamp Organ. The Music Director requests disbursements.
Contact
The Endowment Board’s email address is Endowment@StMarks.net. If you have questions about any of the Endowment Funds, or you would like to make a contribution or request funding, please contact us at this address or contact one of the Board Members.