In 1967 the leaders of First Church determined that the Church’s investment assets, such as stocks and bonds, could best be managed by a separate entity devoted exclusively to that purpose.  After careful discussion, an Indenture of Trust was prepared, creating a trust to manage these assets.  The trust instrument was signed on January 28, 1968.  First Congregational Church of Webster Groves was the grantor of this trust and transferred to the trustees about $68,000 in assets.  The initial trustees were Harold Knight, Harold Felton, Ray Siler, William Wilton and Bert Tremayne, Jr.  Moderator Richard Clement signed for the Church.

The Church is connected to this trust in three important ways.  First, members of the church elect the trustees, called Endowment Counselors, at the Annual Meeting.  Second, the Church leadership, the Executive Ministry, may request distributions from the accumulated income of the Endowment.  Third, the membership of the Church may vote to request distributions from the principal of the Endowment.  Otherwise, the trustees are independent and operate pursuant to the provisions of the trust instrument.

Funds received and held by the Endowment Counselors over the years have included contributions which were made on condition that the income or principal of the contribution be used for a particular Church purpose.  Unless the contributor makes such a designation, the contribution is part of the general fund and the assets can be disbursed pursuant to the provisions of the trust instrument.

As of October 31, 2016, the value of the assets in the Endowment Trust was $1,994,000.  In addition, since it was established nearly 50 years ago, the Endowment Trust has provided about $2,000,000 to First Church to support its mission, it activities, and its facilities, including major expenses for roof and boiler repair, renovation, and the new sanctuary construction.  Over the past several years, the Endowment has made monthly distributions to supplement our operating budget and provide for other special needs.  If those transfers are budgeted to exceed 4.5% of the unrestricted assets of the Trust in any year, a vote of the congregation is required and is part of the annual budget approval process.  The transfer was $120,000 in 2015, will be $96,000 in 2016, and is budgeted for $92,300 in 2017.

Creating a separate entity — the Endowment Trust — to management and distribute property held for the benefit of First Church has proven to be a very good thing for the Church.  Today, we are the beneficiaries of the vision of the leaders and members of the Church in the decades since 1967.

Those interested in contributing to Endowment, or those with questions about the Trust, should contact one of the Endowment Counselors:  Peter Bakker-Arkema (Chair), Jack Batten, Connie Kitchen, Bob Moody, Joe Weyhrich.