Like houses and relationships, good programs are built on strong foundations. Fifteen years ago Uniting Church SA opened up a fund called ‘Uniting Foundation.’ It was a vehicle intended to bring bequests for the Church in South Australia together into one spot, where they can be professionally and effectively managed for the best outcomes.
Investment Services has been managing the assets of Uniting Foundation since its inception. Every year the Uniting Church Investment Committee approves asset allocation policies for the ‘Foundation,’ which takes into consideration the nature of the bequests, and the instructions in regards to the bequests. This process seeks to maximise the long-term benefits of all the bequests.
Many bequests given to the Church have specific instructions in regards to how income or capital may be used. The Church has a legal obligation to ensure these instructions are followed, as it is the wishes of the person(s) who left these funds that they are to be used for certain purposes.
Each year the Uniting Church Foundation Grants Committee is allocated an amount from the Foundation to be granted to programs. In October the Committee met and considered the applications for funding. Congratulations to the applicants who received funding that totalled $340,000 for an array of exciting projects.
Some of the larger grants went to Encounter Futures $55,000, Community Youth Outreach Worker for Mitcham Hills $40,000, and towards youth ministry at the Raukkan Faith Community (UAICC) $36,000.
Of course there are many congregations and programs that receive benefits from the Foundation.
I hope that the many good Uniting Church people that, after their passing, made a deliberate financial contribution to the working of the Church and would be happy and proud that their bequest is being used to further the mission of the Church in South Australia, now and into the future.