About the Foundation
The First United Methodist Church (FUMC) Foundation provides gifting opportunities to those individuals, families and foundations that wish to provide long-term support to the Church’s facilities, programs, ministries, and missions. The Foundation is a separate entity which only purpose is to support First United Methodist Church in Colorado Springs. The Foundation exists to accept donations, invest those donations wisely, and distribute earnings from those investments to FUMC in accordance with the donors’ wishes in support of the church’s mission and vision in serving Christ with open heart, open minds and open doors. The monies donated are often given in memory or in honor of members of our congregation. The Foundation invests these donations and uses the proceeds earned to provide support to the Church.
Over the years, the First United Methodist Church Foundation has consistently provided financial support to the church. Always welcome, this support became crucial during the economic downturn that began in 2008. The Foundation’s quarterly payments filled the gap when collections dropped, enabling the church to maintain staff and programs to continue to serve members and the community. Some funds are designated to specific missions and purposes in accordance with the donor’s direction; others can be donated to the church for use in supporting its annual operating budget.
The Foundation has a set of bylaws to guide its governance. It has a Gift Acceptance Policy to help guide donors who wish to make donations to the Foundation. It has an Investment Policy to assist the Board in supervising and evaluating the management of the investment portfolio. Perhaps most importantly, the Foundation hires a professional investment advisor who manages and advises the Board on how best to invest and grow the assets to benefit the Foundation, and ultimately, the church. All of these tools enable the Board of Directors for the Foundation to meet its fiduciary duty to fulfill the wish of its donors in providing financial support to the church and its missions.
FUMC Foundation Scholarships
Student scholarships are offered each year for students within FUMC who are seeking a higher education. These scholarships are given on an annual basis to help members of our congregation earn a technical degree, a college degree, or go on to advanced theological training. In 2019 the Foundation held almost $500,000 in funds for various scholarships and has, to date, presented more than $140,000 in scholarships and support for Youth Choir Tour and Youth Missions.
These scholarships are possible because of generous donations to the Foundation. Scholarships are endowed when donors specifically designate their gift for that sole purpose and are often made in the name of an individual. These donations are invested and managed by the FUMC Foundation to increase their value over time and extend the number of students they can assist. The Foundation will continue to grow these funds so our FUMC students can look forward to scholarship assistance in the future.
Scholarships for Higher Education
Scholarships may be open to all students, may be designated to be distributed over a certain period, or designated to be used for a specific type of education. There are many scholarships available through FUMC for students with goals of higher education. The following are a few example scholarships.
- The Miriam Barrett Seminary Student Scholarship helps students acquire the theological training needed to pursue a career in an approved religious affiliated institution.
- The Debra L. Hadley Youth Student Scholarship assists high school graduates that are now or have been associated with the Youth Ministries or Youth Music Program of First United Methodist Church in acquiring a College, Community College or Trade School education.
- The Kris Lohrmeyer Youth Scholarship Fund provides financial assistance for young people wanting to attend either a Youth Singers Tour or a Youth Mission Trip.
Each year, the Scholarship Committee solicits applications from students of all ages. The committee then undertakes the task of carefully considering the merits of the applicants. Applications and scholarship booklets are available in December each year and can be found in the racks around the church and online. Applications are submitted after December 15, and due no later than February 28. The Scholarship Committee decides who should be awarded each scholarship. The amount of each scholarship is determined yearly based on the balance of the fund, the designation of the donor, and a rolling average percentage of the various scholarship funds.
Please take a few moments to pray for this year's Scholarship Recipients. We pray that their education supports their love of God, of the people they encounter, their communities, and the world they inherit:
STARTING A SCHOLARSHIP OR MAKING A DONATION
Do you want to help members of First United Methodist Church pursue higher education? The Foundation always welcomes additional money to increase the value of the present scholarships or for anyone who desires to establish a new scholarship in memory of a loved one or valued friend. Amounts of $10,000 or greater are needed to establish a new scholarship. but any amount can be donated to the Foundation to enhance one of the present scholarships.
The members of the Foundation Board and Scholarship Committee are committed to following the wishes of the donors about how monies earned are used. Donors can specify eligibility requirements for their scholarship or list a yearly award limitation. Others make no restrictions which allows the committee more flexibility to select the recipients, whether or not to provide multiple scholarships from a fund and allows the committee to consider the various educational opportunities of the applicants.
Donations to the Foundation — whether restricted or unrestricted — are tax deductible for income tax purposes. If you are interested in making a donation to the Foundation for use in establishing a new scholarship, adding to one of the present scholarships, or more generally providing long-term support to the Church, please feel free to contact the current President of the Foundation, Michael Reeder at 719-598-0523 or firstname.lastname@example.org.
Will Power Program
The current Board of Directors for the Foundation recognizes the value of planning for the future. God plans for the future by asking us to each be disciples of God's teaching now and in to the future. If we can Build the Legacy, we can increase the long-term financial stability of our church, demonstrating our faith in its future. If we can help our members plan for their own future, we would also help them care for their own families and leave their own legacy for future generations.
Starting from scratch, the Foundation has grown the current value of the assets it manages to over $10 million. While investment growth is central to the Foundation’s tenets, the most critical and valuable source of growth is the donation of assets from individuals, families, and family foundations who wish to build a legacy to benefit the church for many years into the future. With over 40 major donors, it is not possible to list all of the people who have chosen to donate to the Foundation here, but we are indebted to the kind generosity and foresight of many individuals and families, including the Arnold & Hazel Hatch Fund, the Hubbard Fund, the Donna O. Toncray Fund, the Essie O. Robertson Fund, and most recently, the Joyce & Perry Trytten Scholarship Fund and the Jack K. Agee Fund.
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