Foundation Committee

The Foundation shall be administered by a Committee of five members, of whom two shall be elected by a Parish meeting to serve for three-year terms, a chair who shall serve at the Vestry’s pleasure, the Treasurer and the Senior Warden. The Committee shall keep a written account of the Foundation and a record of its actions.

Warden, Chair, and Treasurer

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Walter Booker
Warden

Tom Cochran
Chair

Vernon Endo
Treasurer

Elected Members

 

Kelly Davies
2015

Will Hobbie
2017

 

John Raposa
2017

 

The Treasurer shall maintain a separate capital fund titled the “St. Luke’s Foundation” to record, receive and invest all gifts and bequests designated for the repair, upkeep or reconstruction of any Parish real estate, including fixtures, appurtenances, except for those funds designated special funds or dedicated campaign funds.

The Foundation shall be administered by a Committee of five members, of whom two shall be elected by a Parish meeting to serve for three-year terms, a chair who shall serve at the Vestry’s pleasure, the Treasurer and the Senior Warden. The Committee shall keep a written account of the Foundation and a record of its actions.

The Foundation Committee may choose to release up to one-half of the income earned in each year, but none of the principal, to the Vestry for a non-recurring items of repair, upkeep or reconstruction of Parish buildings that has an aggregate cost of at least $2,000.

At any time the Foundation has accumulated over $150,000 of principal and income earned, a duly constituted Parish Meeting, may by a vote of the greater of two thirds of the votes cast or thirty votes, distribute not more than 50% of the existing principal balance of the Foundation for the purposes listed in the previous paragraph, provided that timely written notice was first mailed to all Communicant Members stating any action to be taken, the reason for the action, and incorporating this paragraph or any subsequent amendments.

The funds of the St. Luke’s Foundation and of the Memorial Trust shall be invested according to guidelines adopted from time to time by their respective Committees with the consent of the Vestry. The Committees may elect to appoint one or more investment committees, subject to ratification by the Vestry. Any funds invested by either of the Committees under their own authorities or by an investment committee shall be subject to audit, and summary accounts shall be presented quarterly to the Vestry and respective Committees.