First Plymouth Foundation

The Board meets quarterly (January, April, July, October) and is responsible for approving financial and investment reports, reviewing grant requests, and other business which varies through the year.

FINANCIAL ACTIVITY

  • Current balance of the portfolio - $2.9M
  • Contributions received Since 1981 - $1.6M
  • Grants paid since 1981- $1.5M
  • 4 Funds within the Foundation
    • Funds managed by IMG with policies set and oversight exercised by board
    • Funds available for grants each year determined on a 12-month rolling average of the value of the funds and a % of that average value (5%)
    • In recent years the amount available for grants from all funds within the Foundation have totaled slightly less than $100,000
    • In 2020 funds available for grants include:
      • From the General Fund - $55,000 (for grants that fall within the basic mission of the Foundation)
      • From the Turpin Fund - $38,000 (for grants that support religious education of young people (about 40yr or less) to prepare them for careers in the church 
      • From the Knight Fund - $3,500 (for grants that benefit children 12 yr and younger)
      • Bayley Fund - $0 (this is a small fund that is currently invested for growth and is being held by the Board until the fund reaches a significant balance (current balance is $190,000)
  • Summary Grant Information
    • Average grant mount is less than $10,000
    • Largest recipients have been FP and Iliff School of Theology
      • FP Grants Include: Operations, Education, Youth, Task Forces, Capital Campaign and Capital Needs, Mission Fund, Interns, Equipment, Ministerial Support, Arts, Music, and others ($190,000 in last 6 years)
      • Iliff Grants Include:  General Scholarships (FP Scholarship Fund), Specified Scholarships ($105,000 in last 6 years) 
      • Over 75 community organizations have been funded since 1981
      • The Universal Grant Application has simplified and coordinated the grant process with groups within the church such as endowment and memorials- see Firstplymouthfoundation.org for the document
  • Caring Awards, Grants, and Special Event

STRATEGIC ISSUES

  • Coordination with FP endowment
  • Balance Between FP Grants and Community Grants
  • Fundraising
  • Alignment with FP Priorities vs. Meeting Needs in the Community-at-large
  • Alignment with FP Giving vs. Open Door for all Potential Grantees
  • Accountability to the Members – FP Congregation
  • Accountability to donors and their original intent

 

QUESTIONS?  Contact Denise at info@firstplymouthfoundation.org