Exercise good stewardship of the generous contribution, recognizing the donor’s life of hard work and personal commitment to solid financial planning.
Opportunity to support various Westminster activities that support the church’s motto of being “Open- Spirited, Affirming and Child-Friendly”, always expressed through an inclusive lens.
Structure that allows other potential donors to know that their generous contribution will be used in a thoughtful, prudent and respectful manner.
Undesignated funds received in an amount greater than $5,000 will be administered by this policy.
Ten per cent (10%) of any new undesignated funds received annually will be forwarded to VIM (Ventures in Mission).
Pillars of Support to be Funded through Bequests
Spiritual Life and Education, including Sanctuary Fund
Policy to Administer the Funds
Ninety per cent (90%) of any new undesignated funds received annually will be invested. The principal is to be protected by investing in secure products such as cash and those with staggered periods of return. A variety of products allowing for as much flexibility as possible will enable special projects to be funded in a timely manner.
Interest, when received from the investments, will be added as revenue to the annual budget.
The Treasurer, individuals or committees can request funds, approved by Church Council, to support one of the three (3) pillars of support.
Status of funds invested and disbursement of same will form part of the Annual Financial Report.
Policy to be updated and/or amended as required at Council's request.