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
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.
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.
The PHPC Foundation manages several endowed funds that have amounts available for grants to support the work of the church outside of its normal operating budget.
Grants Awarded from Unrestricted Funds for Fiscal Year 2016/2017
Baylor Scott & White Hospital Clinical Pastoral Education
Provides support for the educational requirements of staff to more effectively communicate with patients and families.
Pan American Schreiner Agreement ($5,000)
Scholarship for Pan American student to attend Schreiner University
Presbyterian Children’s Homes And Services ($14,000)
Funding to lease 2 passenger vans for one year
Faith and Grief Ministries ($10,000)
Tree at Thanksgiving Square in support of July 7 police shootings
Camp Gilmont ($4,600)
Tabernacle Renovation Project
PHPC Handbells, stoles for pastors and pulpit paraments
Upgrade of Audio Visual Equipment in Founders Hall
U Kirk ($4,000)
Conference transportation for college students
College, Seminary and PHPS Scholarships ($55,014)
Endowments disbursements for specific purposes for Fiscal Year 2016/2017
Black Estate ($36,000)
Supports WRR radio ministry
Ann Bond Fund ($1,015)
Provides counseling for individuals experiencing anxiety and depression
Choral Scholar Grant ($25,000)
Supports high school/college students as part of the PHPC choir
Early Music Grant ($14,600)
Supports Music Department of PHPC
Kidwell Estate ($8,000)
Supports Pastors Fund
Fred & Barbara Meyer Fund ($25,000)
Supports Preston Hollow Presbyterian Church
Malawi Fund ($5,100)
Supports Ministry of Hope
Wilcox Trust ($18,000)
Support of Springhill Retreat Center and other ministries
Visiting Conductor Fund ($4,234)
The Foundation Board has adopted a policy that all grant requests must be generated through one of PHPC’s Five Councils or the Diaconate. If you are interested in submitting a grant proposal, please contact the head of the Council under which your request would fall (Community Outreach, Worship, Administration [Property/Communications], Discipleship, Evangelism and Membership, or the Diaconate). The contacts are listed below.Applications must be submitted by the Council and Diaconate Chairs to the Foundation Grants Committee Chair by October 30, 2017 and March 15, 2018 for consideration at the board meetings.
If you have any questions, please contact Dan Lorimer, Foundation Grants Committee Chair 214-965-1662 or Trey Angel, PHPC Church Financial Officer 214-368-6348, ext. 139.