| WMU
Foundation Endowments Policy
The Foundation makes
regular grants from funds held as endowed assets.
While these funds have designated purposes, the
Foundation has the discretion to determine the
amounts and the recipients of grants from these
funds.
The
Foundation has established the endowed funds described
below. It may accept new endowed funds so long
as those funds:
• Reflect the mission
and purposes of the Foundation and WMU
• Are reasonable and manageable
in structure
• Have
been approved by the President and Executive Committee
of the Foundation
Endowed
Purposes
The Foundation maintains the following funds that
are governed by the restrictions established when
the funds were created. The primary forms of endowed
funds are described in detail below.
WMU
Foundation Endowments
The WMUF will make distributions
in accordance with the standard provisions as
established by the WMUF Board of Trustees unless
otherwise specified.
I. State/Associational
Endowments
Endowments may be created
for the benefit of state WMUs or organizations.
A.
Partnership Endowments
These endowments are
created by WMUF in partnership with the state
WMUs, associations or individuals for the advancement
of state/ associational/ national WMUs. The
procedure involves 5% of the earnings from the
fund's corpus value principal and earnings to
be divided for distribution to the state or
associational WMU Executive Board 2.5%, the
national WMU Vision Fund 2.0% and the WMU Foundation
.5%. These endowments may be created with any
size initial contribution, although annual distributions
from these funds will not be made until the
fund corpus reaches $10,000.
Click
here to view the states involved with the
Partnership Endowments.
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B.
Endowments for State WMU
These endowments do not benefit national WMU
or WMU Foundation except for funds management
fees.
1.Katharine C. Bryan Scholarship for Tennessee
The endowment was established in 1997 in recognition of Katharine Bryan's 12-year tenure as executive director-treasure of Tennessee WMU. Her deep love for missions and appreciation for education inspired the endowment, which is being used both for student scholarships to college or seminary and for missions work around the world.
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2. The Frances V. Grafton Mission Projects Endowment for Oklahoma
In honor of Grafton's 16 years of service to Oklahoma WMU, the endowment bearing her namesake began in 1997. The endowment funds scholarships to seminary and for missions projects for women.
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3. Annie Grace Tartt Mellen-Maude McCain Endowment for Louisiana
Grace Lee instituted the endowment to honor both her mother and grandmother, both who served Alabama WMU. The endowment funds student preparation for Christian leadership in the US and overseas. To read a biography about the Maude-McCain family, click here.
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4. Hazel McKinnies Stockdale Endowment Fund
The fund was founded in 1999 for WMU leadership training for women in Arkansas, Florida, Illinois, Indiana, and Missouri. In the past, it has funded a leadership track at the State Women's Evangelism Retreat, which encouraged local churches to be visionary regarding missions education and missions involvement.
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5. Margaret Gillaspie Endowment Fund for Arkansas and Indiana
Initially created in 1999 to benefit WMU work in Arkansas, the fund is now split three ways between Arkansas WMU, Indiana WMU, and the WMU Vision Fund. The fund was established in honor of Indiana's former executive director Margaret Gillaspie.
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6. Interstate Baptist Association GA/Acteens Endowment Fund
Set in place by Janie N. Stokes in 2000, the fund provides money for GA/Acteens camps, missions events, and/or missions education. The Interstate Baptist Association used money from the fund to send 13 girls to GA/Acteens Girls Camp in 2003.
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II. Funds to Enhance the WMU Foundation
A. Louise Smith Boyd Endowment
When former Florida executive director-treasurer Louise Boyd died in 1997, her unrestricted gift to WMU established the endowment. The Fund now supports operating expenses of the WMU Foundation.
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B. WMU Foundation Fund
The fund exists to support current and future needs of the WMU Foundation so that it can fulfill its ministry on behalf of the mission and ministries of WMU. It is accessible at all times by the WMU Foundation and is intended to assist with operational and promotional expenses.
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III. Funds to Enhance WMU Objectives
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A. Dr. Eleanor F. Terry Endowment for Christian Women's Leadership Development at Samford University
Family and friends of Dr. Eleanor F. Terry established the endowment after her death in 1998. The endowment funds the Christian Women's Leadership Center (CWLC) at Samford University, a joint partnership between WMU and Samford. The CWLC began in 2001 and offers a 20-credit minor in Christianity, Women and Leadership Studies. The mission of the CWLC is to provide learning opportunities for women to realize the fullest measure of their gifts in all areas of the human endeavor. To read a biography about Eleanor Terry and the history of the Christian Women's Leadership Center, click here. To visit the CWLC's Web site, please click here. Or, to print off a flyer about the Terry Endowment, click here.
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B. June Whitlow Endowment for WMU Leadership Development
Created in 1997, the purpose of the endowment is two-fold. It provides scholarships to women for WMU-sponsored leadership training and missions education. It also provides scholarships for students enrolled in the Christian Women's Leadership Center (CWLC) at Samford University. The scholarships can be for academic, continuing education, or non-baccalaureate curriculum as women prepare for leadership roles in churches, social institutions, government and the general marketplace. It was established in honor of WMU leader June Whitlow's outstanding service to WMU and Baptist Nursing Fellowship
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C. Dr. Dellanna O'Brien Endowment for the School of Social Work at Baylor University
Set up in honor of Dr. Dellanna O'Brien's Texas heritage, the initial purpose of the endowment was to fund a chair in the social work department. The endowment is now being used for student scholarships, as money for the chair accrues. The endowment was established in 2000 at a luncheon in honor of O'Brien's service to WMU, held at Baylor University.
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D. Women's Department of BWA Endowment Fund
The fund was established in 1999 at the January WMU Board Meeting. Its purpose is to provide resources for the training of Baptist women, the development of innovative programs and publications, and the ongoing work of the Women's Department of the Baptist World Alliance (WDBWA). The annual distributions are now shared 50/50 between WMU and WDBWA for the purpose of offsetting operating costs for WDBWA.
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