Jacobi fund.

GEMM administers the following funds for WPPC.

General Endowment Fund.  Birthday Club contributions are deposited into this fund.  The principal is invested in perpetuity.  The plan is to take 5% of the value of this fund and distribute it annually into other GEMM funds. 

Capital Facilities Fund (formerly the Facilities Contingency Fund).  This fund is reserved for facilities improvements which are beyond the annual budget.  The fund may help supplement the budget for major repairs or renovation.  Normal maintenance is not covered.  

Ginny Jacobi Fund.  This fund is reserved to pay for scholarships and special mission projects.

Memorial Fund.  This fund is reserved for memorial projects approved by the Session.

Columbarium Fund.  This fund was established specifically to build a columbarium for WPPC.

Carolyn Pawson Memorial Fund.  This fund was established with a bequest from Carolyn Pawson.  The

Session initially directed that the fund be used for scholarships for children of the Huejotitan orphanage.  The fund may be used for other purposes as determined by the Session.

Long Term Operating Funds (closed).  This fund was established as a short term fund to deal with a budget shortfall in 2004.  It was terminated in February 2008 by the Session at the recommendation of the GEMM Committee. 

If you feel you can support WPPC beyond your current commitment to your General and Capital pledges, gifts can be made to any of WPPC’s GEMM funds.   

If you have questions , please see any of the Committee members – Barbara Peterson, Frank Camp, Dick Loyd, or Ric Hastings.

The GEMM committee, with the permission of the Session, has distributed money from the General Endowment Fund to the Facilities Contingency, Ginny Jacobi Memorial, and Carolyn Pawson Memorial funds.   This distribution was made possible by your generous contributions to the Birthday Club.  Birthday Club contributions are initially deposited in the General Endowment Fund where a portion of the funds are periodically distributed to the Facilities Contingency Fund and WPPC’s “mission” funds. 

The following table shows the value of the funds at the Texas Presbyterian Foundation (TPF) as of  December 31, 2007 and the distribution from the General Endowment fund which was approved by the Session.  This distribution is only 12.6% of the General Endowment fund account.     

All of WPPC’s funds at the TPF are invested in the Balanced Fund, which invests 28%-30% in fixed income, 69-71% in stocks, and 1% in producing oil and gas interests.  Please see the Texas Presbyterian

GEMM Update

Go To

Foundation’s website, www.tpf.org, for further information.

Disbursements from GEMM funds during the current program year 2007-2008, year-to-date (June 1, 2007 – February 29, 2008) has only been $400 to Dallas Area Interfaith for a Citizenship Handbook, taken from the Ginny