United Methodist Foundation
of West Virginia, Inc.
Annual Report 2014
To Serve...
United Methodist Foundation
of West Virginia, Inc.
Our mission is to serve
United Methodist individuals, families,
local churches and conference-related ministries by
raising, managing and distributing funds
to benefit United Methodist ministry.
Contents
1
1
President’s Review
2
40 Years of Ministry
4
Healthier and Happier Place
5
New Trust Agreements
6
Transformational Investing
7
New Custodial Accounts
8
Honorary Gifts
9
Memorial Gifts
10
Donors
12
Estates
13
Ministries and Institutions
15
Sustainable Investing
15
Focus on the Numbers
16
Financial Report
18
Beneficiaries
20
Board of Trustees
21
In Memoriam
22
Foundation Staff
2
7
10
Contact us
Office: Mail:
Phone:
Email:
Web:
Facebook:
900 Washington St. East, Suite 203
Charleston, WV 25301
P.O. Box 3811
Charleston, WV 25338-3811
304-342-2113
800-788-3746 ext. 45 (toll free)
304-342-2632 (fax)
[email protected]
www.umfwv.org
www.facebook.com/umfwv On the Cover
The chalice and paten pictured on
the cover are gifts created by former
Board Chair, Richard Rowe.
Whoever serves me must follow me, and where I am,
there will my servant be also.
John 12:26a
To Serve
President’s Review
This Annual Report provides the details of how we accomplished
our mission during 2014. We have attempted to provide the
stories behind the numbers. Please read this publication and the
stories of the legacies of generosity, the individuals who help us
fulfill this ministry, and transformed lives.
Raising: The total amount of gifts and deposits in 2014 was $3.8
Million. Of that amount, $525 Thousand was in new endowment
trusts—permanent funds set aside to provide perpetual financial
resources for a broad variety of ministries. $575 Thousand was
in new custodial accounts—long-term investment accounts
placed for investment services with The Foundation by churches
and agencies of the Conference. These funds grow through
the investment process, and the total amount is available for
withdrawal at any time, with no maturity dates and no penalties
for withdrawal. The rest of the gifts and deposits went into previously established
permanent trusts or custodial accounts.
Managing: After a periodic review of our Investment Consultant, in August 2014,
The Foundation entered into a relationship with new investment advisors, Wespath
Investment Management. Wespath is the investment division of the General Board
of Pensions and Health Benefits of The United Methodist Church. In addition to a
history of good, solid investment returns, Wespath helps us to broaden our definition
of what we used to call “socially responsible investing” to “sustainable investing.” Under
this approach, we continue to screen out those enterprises that are contrary to our
Christian principles. Further, we make an intentional effort to invest in companies that
have good track records in the areas of social responsibility, care for the environment,
and good corporate governance. Combined with many other like-minded investors,
we can engage management and advocate for becoming better corporate citizens.
That’s transforming the world!
Distributing: We do not raise and manage money to build up The Foundation, but
rather to expand and enhance United Methodist ministry in the name of Jesus Christ
throughout the West Virginia Annual Conference and beyond. Over $3.6 Million
was distributed in 2014, including $300 Thousand to beneficiaries of unitrusts and
charitable gift annuities and $3.3 Million to churches, ministries, and other beneficiaries
of endowment trusts and custodial accounts. The Foundation is also perfecting and
expanding our grant-making ministry that began in 2014. We gave away $77,000 in
grants, which represented a tithe of our revenues.
As you read through this Annual Report, we hope you will consider the possibilities of
ways The Foundation can help you or your particular church or ministry. •
To Serve
Milestones
1974 Incorporation of United Methodist
Charities of West Virginia.
Celebrate
4O
1974 Rev. Truman Potter became first
President.
1977 Rev. J. Clair Jarvis became President.
1979 First discretionary distributions
made to ministries of the West
Virginia Annual Conference.
1979 Total distributions of designated and
undesignated funds in the first five
years was over $375,000.
1982 Rev. Samuel Sink became President.
1985 Custodial Account offered as option
to Churches and Agencies.
1985 One million dollars in assets.
1991 Foundation became financially selfsupporting.
1991 Rev. David R. Peters became
President.
2008 Fifty million dollars in assets.
2008 Conference loan retired.
2008 Jeffrey A. Taylor became President.
2009 Grant program established.
2014 89 million dollars in assets.
2014 Grant program expanded.
2014 Spending Plan fully initiated.
Page 2
Years of Ministry
In September 1993 at a special session of the annual
conference held in Huntington, the annual conference
approved the creation of a conference foundation. In
the months after the special session, visionary leaders
including Bishop D. Frederick Wertz, Dr. Alfred E.
Bennett, Dr. Truman W. Potter, and others worked with
the attorneys and accountants to get the corporation
chartered and get the IRS exemption as a public charity.
And so at the annual conference session forty years ago,
the United Methodist Foundation of West Virginia—
then known as Charities—was born.
As we consider the possiblities of The Foundation’s
bright future, we express our gratitude to all of the
donors, Trustees, staff members, churches, and agencies
who have nurtured this ministry over the past forty years
from the original vision to its current strength.
In the fall of 2014, Trustees and other friends of The
Foundation gathered at Saint John XXIII Pastoral Center
in Charleston to celebrate forty years of the ministry The
Foundation. •
Images, left to right:
Top:
President Jeff Taylor and Bishop Steiner Ball
Bishop Sandra Steiner Ball
Middle: Bishop William Boyd Grove
Former Trustee Roger Roberts
Former President David R. Peters
Bottom: Celebration Gathering
United Methodist Foundation of West Virginia, Inc.
To Serve
A Healthier and Happier Place
The Legacy of Dr. Roberta G. Rice
Dr. Roberta Rice, M.D., F.A.C.S, died in 2014 at the age of 96, but through a
bequest to The Foundation, her legacy continues.
Roberta Geraldine Rice was born in 1917 in LeSueur Center, Minnesota,
in a Methodist parsonage. She went on to graduate from the University of
Minnesota Medical School, at a time when there were many challenges facing
women in her profession. Following that, she completed an internship at the
University of Illinois and surgical training at the Mayo Clinic with Dr. Charles
Mayo as her mentor.
Her career as a surgeon took her to the Veterans Affairs Medical Center in
Grand Island, Nebraska. Following the Korean War, in 1956, the Trinity
United Methodist Church and the United Methodist Women of Nebraska sent
her to serve as a United Methodist Medical Missionary educator in Korea. She
served as a Professor of Surgery in Korea until 1975.
From there she joined the staff of the newly established Marshall University School of Medicine and the Veterans
Affairs Medical Center in Huntington, West Virginia. Her involvement with the United Methodist Church
continued through First UMC in Huntington where she was as an officer, played the organ and served in the
United Methodist Women. She was a member of the Board of Diaconate Ministry in the West Virginia Annual
Conference.
Even in “retirement” Dr. Rice continued her busy life after moving to Asheville, North Carolina, where she
sang in the choir, played the organ and was an active member of her United Methodist congregation and in the
community.
Dr. Rice’s obituary states that she “made the world a healthier and happier place.” Through her Living Trust, Dr.
Rice continues her care for others through many
charitable donations, including one to the United
Methodist Foundation of West Virginia, to be used
for children’s work.
Through her bequest, Dr. Rice has made the world
“a healthier and happier place” for children in our
Annual Conference and beyond.
If you would like to consider of the possibilities of
a bequest to continue your ministry, contact The
Foundation. •
Page 4
United Methodist Foundation of West Virginia, Inc.
Individuals and Families
New Trust Agreements
Asbury United Methodist Church Scholarship Trust
To provide scholarships for North Marion High School students
Bruce and Jacqueline Bennett Endowment Trust #3
For the ministry of Heaston United Methodist Church, Buckhannon
Cloyde William Jarvis Permanent Endowment Trust for Newton United Methodist Church
Denver L. and Belva L. Goff Memorial Trust
For seminary scholarships with a priority given to members of churches in the Little Kanawha District
Donna Evans Roberts Memorial Trust
For the ministry of St. Paul’s United Methodist Church, Parkersburg
The L-K Trust Donor Advised Trust
Margie J. and David C. Hardesty Memorial Trust
For the pastoral care ministry of First United Methodist Church, Shinnston
Rev. John F. Lacaria Trust for West Virginia Wesleyan College
Roberta G. Rice Memorial Trust
For ministry with children
Tom and Marilyn Holleron Volunteer Service Scholarship Trust
To provide scholarships through Johnson Memorial United Methodist Church
New Charitable Gift Annuity
Dorothy Finn Gift Annuity #2
Annual Report 2014
Page 5
To Serve
Transformational Investments
That’s transforming the world!
That was the exclamation from a participant at a
meeting at Harner Chapel United Methodist Church in
Morgantown where the church was considering moving
funds to The Foundation for investment purposes.
The meeting was called because the church leadership
thought they could be better stewards of its resources
by utilizing a custodial account at The Foundation.
The pastor, Rev. Lynda Masters, and Church Treasurer,
Karen Spengler, realized that reserve funds that were
invested in a bank certificate of deposit were earning
next to nothing. After a telephone call to The Foundation
revealed that they could expect to earn a greater return
and that there would be no maturity dates or transaction
fees, they asked Jeff Taylor to make a presentation to the
leadership of the church.
While all that was presented at the meeting made good
business sense, the decision was made on the basis of
good “heart sense.” The pastor and other leaders liked
the idea that, along with its new investment manager,
Wespath Investment Management, The Foundation engages in sustainable investing.
We not only screen out investments in companies that derive a significant portion of
their revenues from things that are contrary to our values—such as alcohol, tobacco,
pornography, and private prisons—but also we intentionally invest in companies that
have a proven track record in social issues, environmental care, and good governance.
Moreover, we are able to engage corporate leadership to improve their practices.
As an example, Jeff Taylor shared how some United Methodist groups, such as United
Methodist Women and the General Board of Church and Society, had urged United
Methodists to divest from a particular chocolate candy manufacturer because it purchased
its raw cocoa from suppliers that were unfair to laborers. Rather than divesting, which
would have only concentrated the corporate power into the hands of those who do not
care about fair labor standards, like-minded United Methodist investors joined together
to advocate for change. And it worked! The company agreed to purchase its cocoa from
fair trade suppliers because they realized it made good business sense to do so.
That is transforming the world! •
Page 6
United Methodist Foundation of West Virginia, Inc.
Churches and Conference-Related Ministries
New Custodial Accounts
Betty J. Richmond Music Account – for the ministry of
St. Paul United Methodist Church, Parkersburg
Lubeck United Methodist Church Scholarship
Account
Blaine Chapman Scholarship Account – for the
ministry of the Jordon Chapel United Methodist Men
Lytle – Saunders Music and Choir Account – for
the ministry of St. Paul’s United Methodist Church,
Parkersburg
Bruce McDonald Memorial United Methodist Church
Memorial Contributions Account
Divison of Mission Account for Volunteers in Mission
Duff Street United Methodist Church Building
Account
Episcopal Discretionary Account
Fetterman United Methodist Church Reserve Account
Harner Chapel United Methodist Church Reserve
Fund
Heart and Hand Reserve Account #2 – a ministry of
Community Development Outreach Ministries
Joseph Watts Account – for the ministry of Central
United Methodist Church, Huntington
Lubeck United Methodist Church Boy Scout Account
Lubeck United Methodist Church Memorial Account
Meadowdale United Methodist Church-H&H Chapel
Parsonage Account
Memorial United Methodist Women Investment
Fund
Midland South District Mission and Ministries
Account
Pennsboro United Methodist Church General Budget
Custodial Account
Perry Memorial United Methodist Church Prosperity
Account
Radical Discipleship Academy of Appalachia
Ministry Account
Shelba Pew Memorial Fund – for the ministry of
Bethesda United Methodist Church, Ona
Tryone United Methodist Church Custodial Account
Annual Report 2014
Page 7
To Serve
Honorary Gifts
Gifts were made in honor of the following people.
Araceli Ganan Almond
Dr. Jean (Cale) Arthur
Asbury Town Neck United Methodist Church of Severna Park , MD
Pamela Balch
Edward and Pam Barnette
Roy and Joy Bennett
Rupert and Jennie Bowling
Rev. Ronald Brooks
Ronald Brooks, Jr. and Jennifer Chapman
Carol L. Brown
William E. Clark
Rev. Carol and Doug Duffield
Rev. Charles Ellwood
Matthew Ganan
David and Judie Gommoll
Dr. Patricia Jarvis
Patricia Kent Johnston
Inez Kelley and the community at SB-TB
Denise Kerr
Ivaloo King
Janice and Michael Kruger
Rev. Dr. J. F. Lacaria
Rev. John W. and Nancy Lipphardt
J. Franklin and Vernon C. Long
Steven and Kimberly Matthews
Rev. Jim McCune
McMillion United Methodist Church
Stanley and Leona Miller
Drs. Alison and Grant Morris
Morrisville United Methodist Church
Paul E. Newcomer
Mary Burch Nichols
Jonathan O’Dell
Rev. David R. and Harriet G. Peters
Joseph and Sheila Peters
Rev. Dr. Gary N. Shepard
Steve and Shelly Shideler
Robert N. Skinner
Page 8
United Methodist Foundation of West Virginia, Inc.
Vernon and Sally Sloan
Joyce and Dirk Spencer
Dr. Donald Tarter
Rev. Jeffrey A. and Mary C. Taylor
Joel and Mary Taylor
Current and Former Trustees and Staff of the United Methodist Foundation of West Virginia, Inc.
Rev. Nathaniel Turner-Lacy
Rev. G. Alan Williams
Rebecca Wolfe
United Methodist
Man of the Year
Gifts were made in 2014 and early 2015
in honor or memory of the following
United Methodist Men of the Year.
Charles Akers
Harold Burke
William A. Byus, Sr.
Bob Coleman
Darroll Courtney
Bill Deel
Jay T. Dyer
Arnold Eddy
Kermit Grogan
David Grones
Albert O. Humberton
Cecil Huss
Walter Johnson
Bill Morris
Dennis Mullins
Franz Pogge
James Ed Rancjik
Calvin Saunders
George Sigler
Allan Wolfe
by Raising Funds for Ministry
Memorial Gifts
Gifts were made in memory of the following people.
The Arnold Family
John C. and Ada Kathryn Arter
Lucinda Atzenhoser
Kathleen Bingham
Roy Boso
Bonnie Bowyer
Marguerite A. Brown
Virginia M. Butler
June Calfee
Rev. Tom Clark
Robert Coleman
Roberta L. Coleman
Allen D. Coppinger, Jr.
Mary V. Cornell
Faye E. Crites
Clement Eugene Crowe
Freda and Percy Dawson
Clara Belle Denning
Susan J. DeBardi
Peggy Ann Dempsey
Dora E. Ellifritz
Ina T. Farley
Janet Frazier
Marti Lou Glover
Rev. Harry I. and
Frances B. Gommoll
Dorothy J. Grove
David C. and Margie J. Hardesty
Mary June Harvey
Leah Henry
Frances Jean Hill
Tom and Marilyn Holleron
Phyllis A. Holtzworth
Janice Hutchinson
Margaret Houchen
Cecil Huss
Eddie D. Jackson
Rev. David E. Jasper
Walter Johnson
Patricia Kent Johnston
Pauline L. Jones
Eva Jones
Dr. E. Bowie Kahle
J. Grant and Clyta M. Kaufman
Franklin and Margaret Kern
Clarence J. “Sam” Kirby, Jr.
Curtis Leon Lee
Anna Faye Lucas
Rosemary Maloney
Judith A. Matthews
Kathleen Means
Elizabeth Michael
Mary Emory Modena
Paul E. Newcomer
Clarence and Anna Northrup
Mary Lou Ohl
Rebecca A. Parsons
Sarita Payne-Easley
Edward C. Perkins
Russel H. and Maxine Shay Peters
C. Lyle Ramsey
Jim Ray
Nancy Marie Ross
Mary V. Roth
Bill Sams
Rev. Margaret and Clifford Schmitz
Dr. Samuel B. Sink
Roy and Ruby Skiles
Glenna Skiles
Grace Skiles
Rev. Edwin A. Smith
Judith B. Smith
Carl L. Stewart
Karen Stinespring
Ethel L. Stout
Floyd H. and Geraldine E. Taylor
Mary Jo Tharp
Nancy Lee Thompson
Delores Tiller
William Franklin Topping
Former Trustees and Staff of the
United Methodist Foundation
of West Virginia, Inc.
Dr. Frederick Van Nostran
Alberta and Loughrey Wegley
Sarah Isabell Whetsel
R. R. White
Willie N. Willis
James Wyrick
LaDonna Yaussy
Annual Report 2014
Page 9
To Serve
Donors
Jeanette Alexander
David Aliff
Rev. Timothy and Kelly Ann Allen
Drs.Greenbrier and
Araceli Ganon Almond
Arthur and Nancy Altman
Helen Anderson
Jane P. Arnold
Linda Arnold
Douglas Asbury
Barbara Atkinson
William C. Atwell
Charles Babcock
William M. Baker
Emory and Shirley Ballengee
David and Cynthia Barnette
Rev. Lander and Cynthia Beal
Rev. Clyde and Alma Jean Beard
Paula J. Beard
Carl Beatty
Vernon and Phyllis Bell
Roy and Joy Bennett
Rev. Martin and Sandra Berisford
John and Patricia Blagg
Rev. Richard and Faith Bowyer
Rev. Michael T. Bradfield
Bill and Faith Bragg
Joan Brittington
Rev. Ronald and Edna Brooks
Mary Brotemarkle
Belva A. Brown
Carol L. Brown
Paula Brown
Jennings and Brenda Browning
Berlyn and Marjolyn Bryan
Bunnie Bryant
Earl W. and Nancy Bryant
Mary Alice Budge
Larry and Susan Burdette
John T. and Kathleen A. Burke
Nina S. Burt
Page 10
K. W. Butler
Rev. Norman Butler
Christine R. Buyok
Tom Caldwell
Mark Calfee
Timothy A. R. Callahan
Rev. John R. and Anita Campbell
Joseph M. and Joann Capin
Etta Carnes
Robert and Sharon Carr
Rev. Joseph and Martha Casey
John Catselis
Margaret K. Champion
James and Beverly Chaney
Rev. Michael and Joyce Chapman
Patricia Chase
Stephen and Judie Church
Tom and Lucinda Clark
Paula C. Clinedinst
Brian K. Coker
Barbara Coleman
Rev. I. Mark Conner
Allen and Marsha Coppinger, III
United Methodist Foundation of West Virginia, Inc.
Ruby A. Coppinger
Darroll Courtney
Warren Covell
Deborah S. Crank
Mae T. Crockett
Edmond Crowder
Denny and Annabelle Cruise
Linda L. Curtis
Josephine Cutair
Helen Cutright
Elizabeth Ann Darby
Dorcas R. Davis
Shirley Davis
Dr. David Denning
Daniel and Becky Doman
D. Lyn and Susan Dotson
Lucy Wright Duff
Rev. Eileen Dumire
Dorothy Earehart
Rev. Paul H. Easley
Dr. Jack and Judy Eblin
Richard Eichberger
by Raising Funds for Ministry
Edward I. Eiland
Peter Eiland
Rev. Suzanne and William Ellis
Wayne and Beatrice England
Rev. Dr. Daniel and Betty Farley
Anita Farrell
Donald and Virginia Farris
Rev. Ellen and Robert File
John L. File
William H. File
Dorothy Finn
Mona Fischer
Beverly T. Francesa
Tucker and Olivia Frye
Joemichael Fusco
Edward Gale
Bella V. Ganan
Frank R. Gervasi
Grover and Janet Goode
William and Betty Gordon
Bradford Gowen
Robert and Mary Griffith
Sidney and Bonnie Grisell
Charles and Pam Gruber
Charles and Patricia Gruber
Charles F. Gruber, III
Jill J. Hrabosky
John and Viki Hutchison
Art and Linda Jacknowitz
Frank A. and Kathleen Jackson
Joseph and Julie Janisch
James Jarrell and
Bonny Rogers-Jarrell
John Jarrett
Amy Johnson
Rev. Jonas and Janis Johnson
Rev. Robert and Alma Johnson
Patricia C. Johnston and
Larry Frail
J. Brooks and Josette Jones
David and Maudie Karickhoff
Ms. Sarah K. Keasey
Emory and Janet Kemp
David and Patricia Kent
Robert and Nancy Kent
Doris Ann Kidd
Rev. Angela Gay Kinkead
Patricia Klein
William and Dana Kosto
Suzanne J. Krofchik
Rev. Dr. John F. and Lin Lacaria
David W. Lange
John Lemmex
Joseph and Kathryn Leonard
Maureen E. Linneman
Rev. John W. and Nancy Lipphardt
Revs. Douglas and Judy Liston
Juanita Lodge
Harold Long
J. Franklin and Vernon Long
Marilyn Lynch
Vivian MackBoston
Glen and Shirley Maley
Lanie and Sanjay Masilamani
Kimberly and Steven Matthews
Albert and Coni Mays
George McClain
Helen McClain
Joanne Crume McClellan
Charles and Margaret McClure
Pam McCorkle
Susan McDaniel
Kermit and Dorothy McGinnis
Revs. John and Lisa McKee
Ashlee McMillian
John M. Mendez
Rev. Vaughn Michael
Billee S. Mick
Robert and Beverly Haden
Benjamin and Jean Hardesty
David and Susan Hardesty
Ina Jean Hardesty
John and Kathleen Hardesty
Susan Harrington
Ira M. Haught
Warren and Lenna Haught
Barbara L. Havekost
Maggie N. Henderson
Brookie B. Henry
Rev. Dr. Basil and Janis Hensley
Adrianne E. Hess
James and Sandra Hinson
David Hoge
Ruth Holbert
Sally Howard
Annual Report 2014
Page 11
To Serve
Barry and Susan Miller
Maurice and Mary Kay Miller
Charles and Roberta Mitchell
Howard and Doris Mitchell
Kathleen Mitchell
Todd J. Moffett
Jenna Moon
Kerry and Leslie Mullins
Rev. Frank and Cathy Naglic
Dede K. Natale
Robert Neal
William R. and Barbara Nestor
Tony O’Dell
Kitty W. O’Donnell
Mr. David W. Ohl
Dr. Matthew and Suzanne Ohl
Elda Painter
Ann S. Pancake
Suzanne K. Parsons
Robert and Catherine Pasley
Linda Patterson
Cassandria Perkins
Joseph A. Petela
Dr. Benjamin and Sayaka Peters
Rev. David R. and Harriet G. Peters
Jeffrey and Sharon Porter
Alvin and Eleanor Porterfield
William and Amanda Preece
Rev. Kenneth and Judy Pyles
Ronald and Janet Raether, Jr.
Nora Ramsey
Pat Reasinger
Mildred F. Rector
Karen Reed
William E. Richards
Elaine Ridgeway and
W. Clark Koontz
Rev. J. Charles and Alice Riecks
Ronald Roberts
Carmen Robinson
Page 12
David M. Rowell
Rev. Paul and Verna Russell
David and Jennifer Saunders
Nancy Lee Scaggs
Rev. Clifford and Mary Ann Schell
Catherine Scott
Ken and Linda Shanes
Rev. Amy and Craig Shanholtzer
Pauline W. Shaver
Harold and Naomi Shepard
Toni L. Shepard
Steve and Shelly Shideler
Jane J. Showalter
Dr. Jack and JoElla Sink
Patricia Sink
Dr. R. Merritt and Anne Sink
Vernon and Sally Sloan
Eileen Sloth
Anna Marie Smith
Mark Anderson and
Kathryn Smith Anderson
Dirk and Joyce Spencer
Jeff and Linda Spencer
Michael and Martha Spiker
Revs. Paul M. Stadelman
and Helen Oates
Rebecca Startt
Bishop Sandra L. Steiner Ball and Rev. Barry Steiner Ball
Gregory and Lori Step and family
Ralph Stinebrickner
Rev. Edward and Melinda Stout
Bill Straub
Robert and Jane Sullivan
Gretchen Swecker
Geraldine Taylor
Rev. Jeffrey and Mary Taylor
The Honorable Maurice G. Taylor
Ruth E. Taylor
Michael and Sharon Terry
J. Scott Tharp
Ruth Thayer
United Methodist Foundation of West Virginia, Inc.
Dr. Carl E. Thomas
Mr. Robert H. Thompson Jr.
Laura Tooker
Jack and Joyce Townsend
Steve and Kathy Tygart
Edwin Van Lynn
Arnold Vaughn
Christopher Vaught
Mr. George Venitsanos
Harold and Angela Veronda
Mary Alice Vigneault
Rev. Dr. Dale and Marlen Waters
Jeffrey and Deborah Welshonce
Sarah Wendell
Daniel and Sharon Wharton
Harold Wheat
Rev. Billy Reed Wickline
Halbert and Florence Wilburn
Patricia Wildman
Gary C. Wilkins
Mary Louise Williamson
John and Melanie Wilson
Scott and Patricia Wilson
Rebecca Wolfe
J. Thomas and Susan Woods
Sue D. Woods
Stephen M. Woomer
Joe and Connie Wright
Wayne and Patricia Wriston
Revs. Ralph and Elizabeth Wycoff
Estates
Estate of Wanda P. Hinkle
Estate of Cloyde W. Jarvis
Estate of Roberta G. Rice
Estate of Bishop Frederick D. Wertz
by Raising Funds for Ministry
Ministries and Institutions
Asbury United Methodist Church, Fairview
Asbury United Methodist Church,
United Methodist Women, Bellington
Bakers Chapel United Methodist Church, Petersburg
Baltimore Washington Annual Conference
Barrackville United Methodist Church
Beckley Area Foundation, Inc.
Benefit Assistance Corporation
Bethesda United Methodist Church, Ona
Beverly Hills United Methodist Church, Huntington
Bluewell United Methodist Church, Bluefield
Boston College High School
Bruce McDonald United Methodist Church, Man
Carpenter Treatment Solutions, PLLC
Central United Methodist Church, Huntington
Christ Church United Methodist, Charleston
Christiana United Methodist Church, Christiana, PA
City Holding Company
CNX Gas Company
Community Development Outreach Ministries
Concord United Methodist Church, Athens
Cresaptown United Methodist Church,
Cresaptown, MD
Cross Lanes United Methodist Church,
United Methodist Men
Crossroads United Methodist Church, Huntington
Dillon Chapel United Methodist Church, Huntington
Duff Street United Methodist Church, Clarksburg
Eastern Pennsylvania Annual Conference
Elizabeth Memorial United Methodist Church, Charleston
Epworth United Methodist Church, Ripley
Faith United Methodist Church, Terra Alta
Fayetteville United Methodist Church
Fetterman United Methodist Church, Grafton
First Century Bank
First United Bank & Trust
First United Methodist Church, Barboursville
First United Methodist Church, Huntington
First United Methodist Church, Parkersburg
First United Methodist Church, Parsons
First United Methodist Church, Princeton
First United Methodist Church, Shinnston
Fohl Memorial United Methodist Church, Navarre
Fourth Avenue United Methodist Church, Huntington
Francis Asbury Educational Fund
Gassaway United Methodist Church
General Council on Finance and Administration
Go Mart, Inc.
Greenbelt Community Church
Guyandotte United Methodist Church
Hair Port Hair Design
Hammond United Methodist Church, Clarksburg
Harmony United Methodist Church, Huntington
Harner Chapel United Methodist Church, Morgantown
Hays and Company
Heaston United Methodist Church, Buckhannon
The Heffner Fund
HG Energy LLC
House Of The Carpenter
Houston United Methodist Church, Kimball
Johnson Memorial United Methodist Church, Huntington
Jordan Chapel United Methodist Church,
United Methodist Men, Canvas
JP Morgan Chase & Co.
Kenova United Methodist Church
Lewisburg United Methodist Church,
United Methodist Men
The L-K Trust
Lubeck United Methodist Church, Washington
Lumberport United Methodist Church
Annual Report 2014
Page 13
To Serve
Main Street United Methodist Church, Petersburg
Mason United Methodist Church
Matheny United Methodist Church
Meadowdale United Methodist Church, Fairmont
Memorial United Methodist Church,
United Methodist Women, Summersville
Midland South District
Milton United Methodist Church
Ministers Wives/Mates of the
West Virginia Annual Conference
Moundsville Rotary Club
Mount Vernon Place United Methodist Church, Washington, D.C.
Mt. Juliet United Methodist Church, Dunbar
Mt. Nebo United Methodist Church,
United Methodist Women
Mt. Zion United Methodist Church, Nettie
New Life Blended Ministries, Wheeling
Newburg United Methodist Church
Oak Grove United Methodist Church, Moorefield
Ohio Conference of the United Church of Christ
Pea Ridge United Methodist Church, Huntington
Peninsula-Delaware Annual Conference
Pennsboro United Methodist Church
Perry Memorial United Methodist Church,
Shady Spring
Pleasant Hill United Methodist Church,
United Methodist Men, Wheeling
Precision Pump & Valve Service, Inc.
Preston Cooperative Parish,
Potomac Highlands District
Princeton Cooperative Parish, Southern District
Sand Hill United Methodist Church, Williamstown
Short Creek United Methodist Church, Wheeling
Simpson Evans Chapel United Methodist Church, Flemington
St. Andrew United Methodist Church, St. Albans
St. Andrew United Methodist Church,
United Methodist Men, St. Albans
Page 14
St. John’s United Methodist Church, Petersburg
St. John’s United Methodist Church, Spencer
St. Marks United Methodist Church, Charleston
St. Paul’s United Methodist Church, Kensington, MD
St. Paul’s United Methodist Church, Parkersburg
St. Peter’s Restoration Cemetery Foundations
Steele Memorial United Methodist Church, Barboursville
Stephenson United Methodist Church, Parkersburg
Suncrest United Methodist Church, Morgantown
Trinity United Methodist Church, Fort Ashby
Trinity United Methodist Church, New Cumberland
Tyrone United Methodist Church, Morgantown
Upper New York Annual Conference
Vincent Memorial United Methodist Church,
United Methodist Men, Clarksburg
Warwood United Methodist Church, Wheeling
Wayne United Methodist Church
Wellspring of Greenbrier, Inc.
WesBanco
Wesley United Methodist Church, Kingwood
West Virginia Annual Conference
West Virginia Conference Board of Global Ministries, Division of Mission
West Virginia Convention of Southern Baptists
West Virginia United Methodist Men’s Fellowship
Western District Trustees
Westmoreland United Methodist Church, Huntington
Westover United Methodist Church
Wheeling Jesuit University
Winfield United Methodist Church,
United Methodist Women
It is with gratitude that we list the donors, ministries and
institutions that have made gifts to The Foundation or
have invested funds with The Foundation. Thank you
for your generosity and for allowing The Foundation
to be your partner in ministry. Thank you to all of our
anonymous donors. We regret the unintended omission
of any donor’s name.
United Methodist Foundation of West Virginia, Inc.
by Managing Funds for Ministry
Sustainable Investing
The United Methodist Foundation of West Virginia, Inc. has long
had a policy of “socially responsible investing.” Until recently, this has
meant that there are certain enterprises, such as gambling, tobacco,
pornography, etc.—the so-called “sin stocks”—that we screen out of
our portfolio. In recent years, socially responsible investing has taken
on a broader meaning. It now includes not only negative screening, but
also positive actions. With the broader definition, “socially responsible
investing” has become known as “sustainable investing.” Through our
partnership with Wespath Investment Management, we are pleased to
participate in sustainable investing in the following ways:
• Advocacy: We make investments in companies that have a
good track record in terms of how they treat the environment,
the social positions they take, and good governance.
• Corporate Engagement: Along with other United Methodist
investors, we can use our collective strength to engage
corporate leadership to actually change how they act. One reallife example is how United Methodist investors and others have
been successful in persuading a large chocolate manufacturer
to agree to purchase 100% free-trade cocoa by the year 2020.
This kind of involvement in transforming the world seems to be
the very kind of activity John Wesley would encourage.
• Positive Social Purpose Lending Program: We have part of our
funds invested in a positive social purpose lending program
that provides funds for the construction and rehabilitation of
affordable housing that improves the quality of life for thousands
of poor people. This is accomplished by acquiring loans from
nonprofit corporations. Investments in multifamily, senior and
special-needs housing not only help people who need it, but
also achieve competitive rates of return. •
Focus on the
Numbers
Total Assets Under
Management
$88,476,277.54
Total Gifts and Deposits
$3,809,529.81
Distributions
For Charitable purposes
$3,326,034.66
and
To beneficiaries
of life income gifts
$296,705.25
Permanent Trusts
Ten new trusts
and one life income gift
were established
totaling
$525,297.71
and
One new trust
established by
gift annuity remainder,
$1,582.00
Custodial accounts
Twenty-two new
custodial
accounts were
established,
totaling $574,948.15
Annual Report 2014
Page 15
To Serve
President’s Financial Report
At the United Methodist Foundation of West Virginia, we take our fiduciary duty to properly
protect and manage the assets of your Foundation very seriously. Presented below are the
preliminary, unaudited results for the year ended December 31, 2014 (with comparative
amounts for 2011, 2012, and 2013).
Financial Highlights
2011
2012
2013
2014
Total Investment Funds Market Value (millions)
$ 54.13
$ 60.30
$ 85.42
$ 88.75
Total Market Value of All Assets (millions)
$ 54.48
$ 60.79
$ 85.47
$ 88.77
New Gifts, Income Gifts, and Custodial Accounts
and additions to all funds (millions)
$
3.40
$ 3.22
$ 19.82
$ 3.77
Total Administrative Expenses (millions)
$
0.48
$ 0.51
$ 0.56
$ 0.54
Trust Funds
503
519
526
530
Custodial Accounts
334
340
349
366
Income Gifts
107
91
67
67
944
950
942
963
Number of:
Total
Total Investment Funds - By Year
100.00
Custodial
36.94%
90.00
Investments, in Millions
How our assets are designated
at 12/31/14
80.00
70.00
Income
Gifts
3.81%
60.00
50.00
40.00
30.00
20.00
10.00
0.00
2011
2012
2013
2014
Year
Page 16
United Methodist Foundation of West Virginia, Inc.
Amount
Item - Description
(millions)
1 - Trust Funds
$ 52.59
2 - Income Gifts
$ 3.38
3 - Custodial Accounts
$ 32.78
Trusts
59.26%
Percent
59.26%
3.81%
36.94%
by Managing Funds for Ministry
Investment Managers
Investment management services provided by Wespath Investment Mangement of
Glenview, Illinois.
Performance of Funds
Investment Yields (net of all fees) for 2014 were:
Total
Return
Fund A
(Fixed Income)
-0.33%
Fund B1 (Conservative Balanced)
2.84%
Fund B2 (Moderate Balanced) 4.20%
Fund B3 (Aggressive Balanced) 3.22%
Our Audit
The Board of Trustees of the United Methodist Foundation has engaged the firm of Gibbons
& Kawash, CPAs, to perform the annual audit of The Foundation’s books and records.
The 2014 audit will occur in May of 2015. Copies may be obtained thereafter from The
Foundation’s office. The audit is available in both paper and electronic format.
Foundation Offices:
Independent CPA Firm:
Jeffrey A. Taylor, President
Sally Sloan, Accounts Administrator
Phone (304) 342-2113
Gibbons & Kawash, CPAs
Valerie R. Ellis, CPA, Partner 707 Virginia Street, East
Charleston, WV 25301 Phone: (304) 345-8400
William B. Goode, Treasurer
Phone (304) 342-4989
Annual Report 2014
Page 17
To Serve
Beneficiaries
Greenbrier District Churches
Bascom UMC, Durbin UMC, Fenwick UMC, First UMC-Hinton, First UMC-Webster Springs, Forest Hill UMC,
Gilgal UMC, Highland Park UMC, Jordan Chapel UMC, Lewisburg UMC, Memorial UMC, Mt Hermon UMC,
Mt. Zion UMC-Hico, Mt. Zion UMC-Nettie, Rainelle UMC, St. Luke UMC, St. Paul’s UMC, Union UMC
Little Kanawha District Churches
Bethany UMC, Calvary UMC, Christ UMC-Parkersburg, Elizabeth UMC, Fairview UMC, First UMC-Parkersburg,
First UMC-Ravenswood, First UMC-Williamstown, Logan Memorial UMC, Lubeck UMC, Parkview UMC,
Pennsboro UMC, Pleasant Hill UMC, Rosemar UMC, St. Andrew’s UMC, St. John UMC-Vienna,
St. John’s UMC-Spencer, St. Luke’s UMC, St. Marys UMC, St. Paul’s UMC, Seventh Street UMC, Smithville UMC,
Stephenson Memorial UMC, Stout Memorial UMC, Trinity UMC, Wayside UMC
Midland South District Churches
Aldersgate UMC, Asbury UMC, Brown UMC, Bruce McDonald Memorial UMC, Buffalo UMC, Canaan UMC,
Chelyan UMC, Christ UMC, Clendenin UMC, Coal Fork UMC, Cross Lanes UMC, Dunbar UMC, East Bank UMC,
Elizabeth Memorial UMC, First UMC-South Charleston, Forrest Burdette Memorial UMC, Mt. Juliet UMC,
Mt. Tabor UMC, Madison UMC, Newton UMC, Nighbert Memorial UMC, Riverview UMC, St. Andrew UMC,
St. John UMC, St. Johns UMC, St. Marks UMC, St. Paul UMC, Simpson Memorial UMC, Trinity UMC,
Wade Chapel, Winfield UMC
MonValley District Churches
Barrackville UMC, Blueville UMC, Boothsville UMC, Central UMC, Crim Memorial UMC, Enterprise UMC,
Fetterman UMC, First UMC-Shinnston, Gateway UMC, Harner Chapel UMC, Highland Avenue UMC,
Janes’s Memorial UMC, Lambert’s Run UMC, Life UMC, Lumberport UMC, Masontown UMC, Nestorville UMC,
Meadowdale UMC-H&H Chapel, Pruntytown UMC, Reedsville UMC, Spruce Street UMC, Suncrest UMC,
Tyrone UMC, Warren UMC, Wesley UMC, Westover UMC, Woodland UMC
Northern District Churches
Christ UMC, Follansbee UMC, Franklin UMC, Glen Dale UMC, Graysville UM Cemetery Association,
Hope UMC-Wheeling, New Martinsville UMC, Point Pleasant UMC, Short Creek UMC, Simpson UMC-Moundsville,
Simpson UMC-Wheeling, New Life Blended Ministries, Trinity UMC, Warwood UMC, Wellsburg UMC
Potomac Highlands District Churches
Baker’s Chapel UMC, Bass UMC, Bethel UMC, Calvary UMC, Central UMC, Corinth UMC, Duffey Memorial UMC,
First UMC-Keyser, First UMC-Parsons, First UMC-Romney, First UMC-Terra Alta, Flanagan Hill UMC,
Fout Memorial UMC, Grace UMC, Jane’s UMC, Jennings UMC, Lahmansville UMC, Main Street UMC, McHenry UMC,
North River Mills UMC, Paradise UMC, Preston Cooperative Parish, St. Paul’s UMC-Oakland, St. Pauls’ UMC-Ridgeley,
Trinity UMC-Fort Ashby, Trinity UMC-Piedmont, Wardensville UMC, Wesley Chapel UMC, Wesley UMC-Kingwood
Page 18
United Methodist Foundation of West Virginia, Inc.
by Distributing Funds for Ministry
Beneficiaries
Southern District Churches
Bland Street UMC, Bluewell UMC, Brushfork UMC, Concord UMC, Fayetteville UMC, First UMC-Beckley,
First UMC-Iaeger, Gary UMC, John Stewart UMC, Mt. Hope UMC, Mt. Horeb UMC, Matheny UMC,
Oak Hill UMC, Perry Memorial UMC, Pinnacle Cooperative Parish, Rebecca Chapel UMC, St. Mary’s UMC,
Trinity UMC, UM Temple
Wesleyan District Churches
Beverly UMC, Bridgeport UMC, Broad Oaks UMC, Burnsville UMC, Chapel Hill UMC, Christ UMC, Copen UMC,
Duff Street UMC, First UMC-Buckhannon, First UMC-Clarksburg, First UMC-Elkins, First UMC-Gassaway,
Hammond UMC, Heaston UMC, Indian Camp UMC, Lost Creek UMC, Mill Creek UMC, North Buckhannon Charge,
North Elkins UM Charge, North View UMC, Otterbein UMC, St. Matthew UMC, Salem UMC, Smith Chapel UMC,
Stealey UMC, Trinity UMC, UM Temple, Vincent Memorial UMC, Wayside UMC, Woodford Memorial UMC
Western District Churches
Bachtel UMC, Beech Hill UMC, Bethesda UMC, Beverly Hills UMC, Central UMC, Community of Grace UMC,
Cross Roads UMC, First UMC-Barboursville, First UMC-Huntington, Fourth Avenue UMC, Harmony UMC,
Heights UMC, Johnson Memorial UMC, Kenova UMC, Lavalette UMC, Matewan UMC,
New Haven UMC, Pea Ridge UMC, Steele Memorial UMC, Trinity UMC-Hamlin,
Trinity UMC-Point Pleasant, Wayne UMC, West Hamlin UMC
Conference Affiliated Agencies, District Offices, Institutions & Special Ministries
Board of Global Ministries, Board of Higher Education & Campus Ministry, Burlington UM Family Services, Inc.,
Commission on Archives & History, Commission on Conference Camps & Educational Center,
Community Development Outreach Ministries, Conference Board of Trustees, Conference UM Campus Ministries,
Council on Finance & Administration, Covenant Council, Crossroads Camp, Ebenezer Community Outreach Center,
Episcopal Office, Ethnic Ministries, GWP Foundation, Inc., GlenWood Park, Greenbrier District,
Health & Welfare Ministries, Heart and Hand House-Philippi, House of the Carpenter, Little Kanawha District,
Marshall University Campus Ministries, Midland South District,
Ministers’ Wives/Mates Association of the WV Annual Conference, MonValley District, New Church Development,
Northern District, Pension Funds, Inc., Potomac Highlands District, Radical Discipleship Academy of Appalachia,
Scott’s Run Settlement House, Scouting Ministries, Southern District, Spring Heights Education Center, The Grove,
Tyrand Cooperative Ministries, Inc., WV Hunger, United Methodist Foundation of West Virginia, Inc., UM Layman’s
Foundation, UM Women of Annual Conference, Upshur Cooperative Parish, Inc., Volunteers In Mission,
Wesley Foundation of Fairmont State, Wesleyan District, Western District, West Virginia Wesleyan College
Other Ministries
Africa University, Asbury Theological Seminary, Duke Divinity School, Four Square Bible College,
Methodist Theological School of Ohio, Mullens Area Public Library, North Marion High School,
United Methodist Committee On Relief, UM Churches Outside of the West Virginia Conference,
United Theological Seminary, Wyoming East High School, Wellspring of Greenbrier, Inc.,
Wesley Theological Seminary, WV Voluntary Organizations Active in Disaster
Annual Report 2014
Page 19
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Board of Trustees
2014-2015
Trustees
Bishop Sandra L. Steiner Ball
Anne B. Charnock
James A. Chaney
Mark B. Chernenko
Ellis E. Conley
D. Lyn Dotson
Ronald D. Eaton
David B. Ellwood
Stephen Foster
William B. Goode
Karen K. Grafton
Russell R. Haynes
J. Franklin Long
Rebecca J. Keeling
Scarlett Kellerman
Page 20
Suzanne Knight
James R. Malick
Martha M. Nepa
Bruce N. Petersen
Jeffrey A. Porter
Richard H. Sale
Deborah Shaffer
Ken Shanes
Gary N. Shepard
Edward A. Sisson
W. Brent Sturm
Jeffrey A. Taylor
Earnest Watkins
George Webb
Vernon Webster
Jeffrey C. Welschonce
United Methodist Foundation of West Virginia, Inc.
Officers
J. Franklin Long
Chairperson
Bishop Sandra Steiner Ball
Honorary Chairperson
Jeffrey A. Taylor
President
Jeffrey A. Porter
Vice-Chairperson
William B. Goode
Treasurer
Church Relations
Committee
Resource Development
Committee
Edward A. Sisson, Chairperson*
Anne B. Charnock
Karen Grafton
Rebecca J. Keeling
Martha M. Nepa
Earnest Watkins
Gary N. Shepard, Chairperson*
James A. Chaney
Ellis Conley
Steve Foster
Russell R. Haynes
Richard H. Sale
Deborah Shaffer
W. Brent Sturm
Investment Committee
Leadership
Development
Committee
James R. Malick, Chairperson*
Marc Chernenko
D. Lyn Dotson
Ronald D. Eaton
Ken Shanes
George Webb
J. Franklin Long, Chairperson*
David B. Ellwood
William B. Goode
Scarlett Kellerman
Suzanne Knight
Bruce N. Petersen
Jeffrey A. Porter
Vernon Webster
Jeffrey C. Welshonce
Personnel Committee
Jeffrey Porter, Chairperson*
Anne B. Charnock
Ronald Eaton
William Goode
J. Franklin Long
Jeffrey A. Taylor
Grants Committee
Marc Chernenko, Chairperson*
Officers of the Board
Ed Sisson
Ronald Eaton
Gary Shepard
Anne Charnock
J.F. Lacaria
Joseph Kenaston
Audit Committee
Jeffrey Porter, Chairperson*
Bill Goode
L. Frankin Long
Martha Nepa
* Members of the Executive
Committee.
In Memorium
Former trustee, the Honorable Judge Phyllis Carter, of Charleston, died on January 18, 2014. Her spouse, Dr.
Hazo William Carter, Jr., died on February 18, 2014.
Carolyn Ginter Dalzell, widow of former trustee, David Dalzell, Jr., of Moundsville, died January 9, 2014.
Former trustee, Naomi Butler, of Morgantown, died on September 2, 2014, at the age of 96.
Annual Report 2014
Page 21
To Serve
Foundation Staff
Jeff Taylor, President
Jeff Taylor joined the staff of The Foundation in 2003 and has served as
President since 2008. He is a deacon in The United Methodist Church. A
graduate of West Virginia University (J.D. 1986, B.S. 1983), Jeff has been a
member of the West Virginia State Bar since 1986. He is a past president of
the National Association of United Methodist Foundations. Jeff serves the
local church, district, and Annual Conference in a variety of capacities and
recently served on the Finance Committee for the Northeastern Jurisdiction.
Jeff is a member of the Board of Trustees of Methodist Theological School
in Ohio, where he received his seminary education. Jeff is married to Mary
Wright Taylor; they have two daughters, Erin Rose and Hanna Mitchell.
Kim Matthews, Associate Director
Kim joined The Foundation in 2008 as Associate Director. She graduated from
Marshall University with a Bachelor of Science and a Master of Science in the
field of biology. Kim is a member of several professional associations and is
a Certified Lay Minister. She serves as Western District Lay Leader, and is
active in her local church and Annual Conference. Kim is married to Steve
Matthews; they have two sons, Grant and Joshua.
Sally Sloan, Accounts Administrator
Sally has been with The Foundation since 2002 and became the Accounts
Administrator in 2012. A graduate of West Virginia State University, Sally
is a certified United Methodist Church Secretary and is a member of The
Professional Association of United Methodist Church Secretaries.
Becky Wolfe, Administrative Assistant
Becky began work with The Foundation in 2011 as Administrative Assistant.
She is a member of the Professional Association of United Methodist Church
Secretaries and is a certified United Methodist Church Secretary.
Page 22
United Methodist Foundation of West Virginia, Inc.
Photo Credits:
Gratitude is expressed to the following:
Page 3: Dwayne and Ginnie Lowther
Page 4 and 7: Image of Children and Youth by West Virginia Annual Conference Communications
Pages 20 and 21: Dwayne and Ginnie Lowther
Consider the Possibilities
United Methodist Foundation of West Virginia, Inc.
P.O. Box 3811
Charleston, WV 25338-3811
304-342-2113
800-788-3746 ext. 45 (toll free)
304-342-2632 (fax)
[email protected] www.umfwv.org www.facebook.com/umfwv
United Methodist Foundation
of West Virginia Inc.
P.O. Box 3811
Charleston, West Virginia 35338- 3811
Non-Profit Org.
U.S. Postage
PAID
Permit #2780
Chas., WV 25301