Peace UCC Foundation
Authority & Procedures
The Foundation of Peace United Church of Christ of Webster Groves was established by the Congregation to manage, monitor and appropriate monies of the Endowment Fund to the general fund of Peace UCC. Six trustees, elected by the congregation, manage the business and property of the Foundation.
The Endowment Fund of Peace UCC was established in 1988 to receive gifts of cash, property, stocks, life insurance proceeds, trusts, retirement accounts, annuity, endowment policies or contracts. These gifts may be made in remembrance of an individual, a family, in recognition or appreciation of any living person, or may be the result of a directed Will of a member or friend of Peace UCC.
In 2008 the Foundation was re-organized and Bylaws were approved by the congregation. In July 2012 the Bylaws were amended to reflect the new name of the church, to add a sixth trustee and to establish the office of Treasurer. The Foundation is managed by 6 Trustees elected by the congregation with each Trustee serving a three year term.
The current Trustees of the Foundation are:
Terms end 12/31 of respective years
Doug Cormack 2017
Bob Hill 2017
Bob Karr` 2018
Mickey Clarke 2018
Clarence Meyers 2019
David Ban 2019
In 2013 the trustees sought professional guidance for the decisions of the Endowment investment. The trustees selected a local firm, the Moneta Group of Clayton, Missouri to guide the investment decisions. Moneta has over $14 billion under management for individual, corporate and endowment clients such as the Peace Foundation. The Moneta Group and Foundation trustees developed an investment policy statement which guides the investment decisions of the Foundation. The role of the Moneta Group is to monitor the performance, guide the selection of investments and make adjustments with the input of the approval of the trustees. Actual assets are held in an account with Charles Schwab. Trustees and members of the Moneta Group meet regularly to monitor the investments in the Endowment.
A designated portion of these assets are used to supplement the General Fund of Peace UCC of Webster Groves. Payments to the General Fund are made on a quarterly basis using a formula of a calculated rolling average of the market value of assets at the end of March, June, September and December. Each year a designated factor is calculated against that average. For the year 2015 the Trustees authorized an annual contribution of 4.5% of the rolling average.
The Endowment Trustees encourage any church member or friend of the church to make gifts to or include in their will a bequest to the Foundation’s Endowment Fund.