It’s safe to say that most churches don’t have foundations, at least not the financial kind. Preston Hollow Presbyterian Church is one of the fortunate few, thanks to the generosity and foresight of a handful of long-time members who made the first gifts to establish what is now a $8.6 million endowment.
The PHPC Foundation turns today’s gifts into legacies for the future. Each of our gifts serves the church in ways that reflect the values and passions of donors and their families and the unique spirit of Preston Hollow Presbyterian Church.
Endowed gifts are established to support ministries of the church as specified by individual donors. Funds from the Foundation are not used to support the operating budget of the church.
In the early 1990s, some farsighted members of PHPC saw an opportunity to secure the church’s future plans and bold dreams with an invested account that would remain separate from the operating budget.
The PHPC Foundation is governed by an elected board of trustees who serve three year terms. The board meets five times each year.
The Foundation receives funds from gifts, wills and other permanent instruments. Our financial goal is to grow the endowment’s principal while making grants from investment income. Most of our endowment is managed by the Texas Presbyterian Foundation.
PHPC Foundation endowments must be at least $25,000 in size to be separately managed. Donors complete giving directives to define their intent.
A “Proposed Endowment” may be initiated with at least $6,000, after which donors have a 3-year time frame to reach the minimum size. These endowments tend to be built by a number of people with a shared interest. Recent examples now building:
- Global Studies at UTD
- Pastors’ Cancer Fund
Birthday Fund and Grants
Each member is invited to donate yearly to the Birthday Fund with $1 for every year being celebrated. 100% of Birthday Fund gifts become grants to the community the following year. Grants are made twice a year.
One of the most significant grants in recent years went to renovate the Children’s Sunday School and gathering spaces in the Education wing of the church. Looking outward, our church joined other faith communities in helping build the Cottages at Hickory Crossing, transitional housing built for the special needs of the chronically homeless.
We have 14 endowed scholarships for college students and seminarians. Some are school specific, some are need based, but others are open to all. Once yearly in the spring, the Foundation grants funds to roughly 21 PHPC members heading off to school.