Glen Avon Presbyterian Church :: Staff and Officers

Founders Fund

Jim Sanders, Chairperson (Class of June 2009)

A. Purpose

The Founders Fund provides funds for these aspects of the ministry of the Glen Avon Presbyterian Church: property maintenance, renewal, and replacement; new additions to and acquisition of physical property; special programs beyond the scope of the annual budget; and any other purpose which the Session deems worthwhile and which enables the Glen Avon congregation to help achieve its mission. The Session will have full authority and responsibility to determine that funds provided to Glen Avon Church by the Founders Fund are used for an appropriate purpose.

B. Structure

The Session has established the Founders Fund Committee. The committee shall consist of five voting members, one of which shall be the Financial Affairs Chairperson from the Session. The remaining four members shall be from the congregation-at-large (although one or more may be a member of one or more church boards, including Session). The five voting members shall elect a chairperson from their midst who will serve until a successor chairperson is selected by the committee. One of the Co-Pastors of Glen Avon shall be an ex-officio member and may vote only to break a tie in the voting of the committee members present and voting. A treasurer will also be an ex-officio member of the committee, although it is permissible that one of the five voting members may serve as treasurer, in which case the treasurer will be entitled to vote. The Session shall ratify and approve the appointment of all committee members (except the Financial Affairs Chairperson, who serves by reason of position held on the Session, and the Co-Pastor in his or her ex-officio position) and the treasurer. Committee members shall serve four-year terms, with a maximum of two consecutive terms which, if served, must be followed by at least four years of retirement before a member is again eligible to serve. A fractional term of less than two years served is not considered in calculating maximum allowed service. Terms of the four at-large members of the committee shall be staggered so that one four-year term is being completed by a committee member each year. Terms are set on the basis of the calendar year (January through December).

Committee meetings shall be held periodically, upon call of the chair of the committee. The presence of three voting members shall constitute a quorum. Minutes will be kept by a committee member appointed by the chairperson. Such minutes shall be made available to the Session upon request.

C. Function

The Session has assigned these duties to the committee:

To prudently manage all funds received and held by the Founders Fund, investing such funds to obtain reasonable returns with a reasonable and prudent amount of risk incurred. The committee will periodically report investment results to the Session, the frequency of such reports to be determined by the Session.
To. Turn over funds to the Session upon receipt of its request pursuant to purposes for which the fund was intended. The Session will attempt to give reasonable advance notice of any request for funds so as not to cause withdrawal penalties or other costs to be incurred by the committee in responding to Session’s request.
To seek to grow the fund balance over time, utilizing approaches and means to encourage would-be donors which are reasonable and of which Session has full knowledge and generally supports. The committee may seek assistance from others in the Glen Avon congregation from time to time to assist in the solicitation of gifts and bequests.