Visalia Wesley Foundation

Visalia Wesley Foundation
Visalia Wesley Foundation Brochure
Visalia Wesley Foundation Brochure
 

VISALIA WESLEY FOUNDATION 

Procedure to Identify Projects for Opportunity Fund Support

1. Any person or group that seeks financial support for a purchase, project or program shall submit the request to the Finance Committee of the Visalia United Methodist Church.

2. The Finance Committee will review the request and determine whether it is an appropriate church expenditure and whether it can be funded through the VUMC budget.

3. If the Finance Committee approves the request but is unable to fund it, it will consider whether to refer the request to the Visalia Wesley Foundation. Referral to the Foundation will be based on both of the following criteria:

A. The purchase or project falls within the areas of ministry designated for support by the Opportunity Fund:

1. Programs for youth

2. Evangelism in the community

3. Congregational development

B. The dollar amount of the request is within the available balance of undesignated funds in the Opportunity Fund or is an amount that could reasonably be raised by the Foundation for that Fund. The Foundation will report its Opportunity Fund balance to the Finance Committee on a quarterly basis.

4. If the Foundation Board wishes to consider providing the requested financial support, it may invite the requester to make a presentation or to provide any additional information that the Board may need before it makes a decision.

5. A joint committee of representatives from the Finance Committee, the Foundation Board and the VUMC church staff will meet quarterly to review and assess this procedure and the resulting expenditures of Opportunity Fund monies.

6. The Foundation Board will report its Opportunity Fund expenditures to the church community on a quarterly basis.

Visalia Wesley

Foundation, Inc. 

Gift Acceptance Policy 

 

We encourage the solicitation and acceptance of gifts to the Visalia Wesley Foundation for purposes that will help the Visalia United Methodist Church to further and fulfill its mission, as well as other Christian projects. The following policies and guidelines govern acceptance of gifts made to the Foundation. The provisions of these policies shall apply to all gifts received by the Foundation.

  

Unrestricted Use Gifts

            A donor may wish to donate to the unrestricted Opportunity Fund. The Foundation Board will then allocate the funds through the established procedures to ultimately use the funds in the areas of “greatest need”. Until the funds are expended, they will be pooled with other unrestricted funds and invested as a pooled account. All gains and losses will be allocated to the Opportunity Fund.

 

Restricted Use Gifts

        A donor may wish to donate funds to a particular project, department, or designated use within the Visalia United Methodist Church, and in some cases, other Christian projects. Funds will be held in the appropriate account within the Foundation’s pooled income fund. All appropriate income/loss associated with the respective percentage of the overall fund will be allocated to each of the accounts.  

            The Foundation might not accept gifts that are too restrictive in purpose. Gifts that are too restrictive are those that violate the bylaws, gifts that are too difficult to administer, or gifts that are for purposes outside the mission of the Foundation. In addition, the administration of small restricted use gifts is not practical so the Board has set a minimum of $500 for restricted use gifts.

 

Harry Wood Endowment Fund

        A donor may wish to donate to the Harry Wood Endowment Fund. These funds are separately invested and only the income will be used to meet needs of future approved projects. The initial gifts of principal are to be held and invested with only earnings to be expended. Anticipated uses include funding for current needs of the church not provided for in the regular budget and large capital programs.

 

Gifts of Securities

        The Foundation will accept gifts of both marketable and non-publicly traded securities, subject to Board approval. Upon the Foundation receiving a gift of marketable securities, the securities will be liquidated and invested into the pooled income fund. In some cases applicable securities laws may restrict the liquidation of marketable securities.  Exceptions to the general rule will be at the consent of the Foundation Board. Closely held securities, which include not only debt and equity positions in non-publicly traded companies but also interests in LLP’s and LLC’s or other forms of ownership, can be accepted subject to the approval of the Foundation Board.

  

Gifts of Personal Property

        The Foundation may accept gifts of personal property. These gifts must receive approval from the Foundation Board. All of these types of gifts will be liquidated for cash with the appropriate fund (either a restricted account or the unrestricted account) being increased. Valuation of the gift will be determined by the amount of funds generated by the Foundation upon liquidation.

Gifts of Real Property

        The Foundation may, upon appropriate approval from the Board, accept gifts of real property. In this case, the Foundation Board will require an environmental study and any other appropriate tests/studies on the property before acceptance of the property. Value of the gift will be determined by an appraisal acceptable to both parties.

 

Charitable Remainder, Lead or Annuity Trusts

        Charitable Remainder, Lead, or Annuity trusts may be accepted by the Wesley Foundation, at the approval of the Board. The Foundation, however, will merely act as a final beneficiary. The Foundation will not pay for any of the costs associated with the setting-up or operating of such vehicle.

 

Life Insurance

        The Foundation must be named as both beneficiary and irrevocable owner of an insurance policy before a life insurance policy can be recorded as a gift. The gift is valued at it’s interpolated terminal reserve value, or cash surrender value, upon receipt. If the donor contributes future premium payments, the Foundation will include the entire amount of the additional premium payment as a gift in the year that it is made.

 

Changes to Policy

        These policies and guidelines have been reviewed and accepted by the Board of the Visalia Wesley Foundation, and the Board must approve any changes to or deviations from these policies.

 

Approved on the ___12th___ day of __November___, 2007.

Visalia Wesley

Foundation, Inc.  

Spending Policy 

 

We encourage the solicitation and acceptance of gifts to the Visalia Wesley Foundation for purposes that will help the Visalia United Methodist Church to further and fulfill its mission, as well as other Christian projects. The following policies and guidelines govern the spending of these gifts made to the Foundation. The provisions of these policies shall apply to all gifts received by the Foundation.

 

Designated Gifts

            A donor may wish to designate how their gift is specifically used. The Foundation will accept these gifts and spend them accordingly as long as the gift is approved under the Gift Acceptance Policy. Once accepted, these gifts will be invested either for short-term or long-term use depending on the nature of the intended use.

 

Gifts Under $10,000

        Gifts received in the amount of less than $10,000 and not specifically designated will go into the Opportunity Fund. These funds will be immediately available for use. The principal will not be endowed even though it may not necessarily be spent in the near future. It will be invested in both short and long-term investments depending on the anticipated duration that the funds will be held.

 

Large Gifts

        Gifts to the Foundation of $10,000 or more will be considered as “Large Gifts”. Unless otherwise designated by the donor and agreed upon by the Foundation, 75% of these funds will go into the Harry Wood Endowment Fund. There the funds will be invested for long-term benefit in three designated areas; Missions, Family Programs, and Property Endowment. Since these funds will be endowed funds, only the earnings will be made available for use. The principal will be invested with the objective of earning 7-8% on an annual basis.

            The remaining 25% will not go into the Endowment Fund and will be invested separately and made available for our Opportunity Fund.

 

Approved on the ___12th__ day of _November___, 2007

 

 

 

 

Visalia Wesley Board of Directors

Name:          Ken Hochnadel
Address:      3918 W. Woodside Ct., Visalia  93291
Phone:         732-9611 (home)
Phone:         679-4151 (cell)
E-mail:        kenhokie@comcast.net

Name:          Shirley Johnson
Address:      31618 Road 148, Visalia  93292
Phone:         798-2241 (home)
Phone:         280-6611 (cell)
E-mail:        sejstudio@yahoo.com

Name:          Joe Akkerman
Address:      30531 Road 170, Visalia  93292           
Phone:         594-5046 (home)  
E-mail:        Janamrekka@aol.com

Name:          Carol Laird
Address:       5709 W. Laura Ct., Visalia  93277
Phone:          627-1312 (home)           
Phone:          733-6656 ext. 228 (work)
E-mail:         claird@co.tulare.ca.us

Name:          Nancy Robertson
Address:      5533 W. Grove Ct., Visalia  93291
Phone:         733-4073 (home)
Phone:         732-2354 (work)
E-mail:        wutada@hotmail.com

Name:          Bill Allen
Address:      824 Whitney Dr., Visalia  93277
Phone:         732-6002 (home)

Name:          Rodger Yoshida
Address:      5810 W. Seeger, Visalia  93277
Phone:         739-1840 (home)
Phone:         1-800-752-2001 (work)
E-mail:         mail@fresnoenvelope.com

Name:       Lori Flaherty
Address:    2303 W. Sunset Dr., Visalia, CA 93291
Phone:      732-9659 (home)
                627-2849 (work)
E-mail:      footcaregirl@yahoo.com

Name:       Al Fisher
Address:    3320 E. Harvard Ct., Visalia, CA 93292
Phone:       636-2798 (home)
                972-6092 (cell)
E-mail:       afisher@missioncg.com