5. DHPC Foundation – Eddie Smith

DHPC Foundation

The Year of our Lord 2021 was exciting and rewarding for the DHPC Foundation. After more than six years of existence, the value of the endowment passed the $200,000 threshold which allowed the Board to declare a financial support grant to the Church of $7,596. This amount was determined by taking 5% of the average market value for the last 12 quarters ending in March 2021. Now that the $200,000 threshold has been reached, the Foundation will be able to make similar grants each year and increase them for most future years.

The presentation of this “first-time” grant was celebrated on November 21 during the two traditional services with Eddie Smith, Foundation President, presenting the grant to Darla Gilchrist, Session President. In addition, a separate celebration was held in the Fellowship Hall with historic displays, special refreshments, and a video about the Foundation created by Phil Giriodi.

In addition, during the year, the Foundation was able to provide non-endowment funds from Special Purpose accounts: $6,595 for the Reformation cantata service and Christmas Eve as well as $3,634 to purchase drop-down microphones for the choir loft to enhance the Church’s streaming capability for those worshiping remotely. So, in total, during 2021, the Foundation was able to provide $17,825 in available financial support to DHPC. In addition to the cash contributions to the endowment, members of the DHPC congregation have added provisions to their wills and related trusts to provide approximately $1.5 million to the Foundation endowment in the future. Earnings on this money will be used to support DHPC as it continues to serve members, friends, and the community with new and beneficial projects and programs.

During the year, the Foundation received cash donations of $43,801 of which $19,000 went to special projects and $24,801 went to the endowment.

Three new members were added to the Foundation Board (Woody Chamberlain, Marsha Lindquist, and Lynn Oates) to replace those members who left the Board (Ron Larson, Gary Gerlach, and John Stevens).

These new members are eligible to continue serving so there will be no change to the Board members for 2022.

The Arizona Community Foundation continues to provide investment services to the Foundation and will be retained for 2022. Under their management, our endowment grew approximately 13% during the first 11 months of 2021.

Because of multiple new members both on Session and the Foundation Board, special Foundation orientation classes were presented to those groups to better equip them to work together and to be able to answer questions from the congregation about the Foundation.