Foundation name change and clarification of purpose

By Margie Manning

Posted August 2020

On Aug. 19, 2020, members voted to change the name of this organization from “Unitarian Universalist Church of Clearwater Foundation, Inc.” to “Unitarian Universalists of Clearwater Endowment Foundation, Inc.”

The name was changed to better reflect the nature of this organization, and it occurred in conjunction with the following resolution:

Whereas, healthy non-profits (such as Universities, Colleges, and non-profit Hospitals) encourage donors to donate in any fashion they choose based on their styles and preferences with or without restrictions.  Examples include annual operational support campaigns; capital campaigns for building improvements; and endowment donations for support in perpetuity for the organization; or completely unrestricted donations.  Endowment donors tend to be highly motivated by the belief that they are creating a benefit that will last in perpetuity, a strong selling point.

Whereas, by honoring the restrictions of its donors, non-profits earn the trust of donors which helps the organization obtain more donations because most new donations come from those who previously donated (which shows that they support the mission and have a capacity to donate) or from new donors who observe the positive way previous donors were treated,

Whereas, any attempt to breach donor restrictions without donor approval has legal and moral implications and would violate the trust of the donors, leading to fewer donations in the future,

Whereas, UUC has greatly benefited from the creation of the Foundation which established an endowment and all UUC members should be forever grateful to those forward-thinking donors,

Whereas, there is no reason to believe that the Foundation donors did not intend for the funds to last in perpetuity and create annual unrestricted income for the church, and in fact by establishing the mechanism of a separate Foundation they made clear that these funds were not for immediate church needs,

Whereas, the Foundation’s endowment has donated many, many hundreds of thousands of dollars to UUC for its annual budget but the Foundation would lose that ability to donate if the invested funds were raided for current needs,

Whereas, this clarity will improve and create better relations between the Foundation and the UUC Church Board and will help UUC be more successful and it will help stop any UUC members from feeling resentful about the Foundation Board for simply doing its job correctly,

Accordingly, I move that the UUC Foundation continue its policy of making an unrestricted annual grant to UUC equal to 4.25% of the average of its total assets on June 30th and December 31st of the previous year.

Socially Responsible Investing

by Margie Manning

Posted March 2019

The Clearwater Unitarian-Universalist Church Foundation recently invested $20,000 in the Unitarian Universalist Common Endowment Fund.

The fund is a diversified investment fund seeking current income and long-term investment returns through portfolio allocation and professional asset management with UU socially responsible investing goals. Investment decisions reflect UU values and contribute to positive social and environmental change. A portion of the funds are used for direct investment in low-income communities. The Common Endowment Fund and the UUA also engage in shareholder advocacy to change corporate behavior.

The Clearwater UU Foundation considered this step carefully before making this investment. A subcommittee (Bill Norsworthy, Joe Pace and Margie Manning) explored a few socially responsible investment options and felt the professional advisors and management the UU Common Endowment Fund offered made it an optimal choice.

The board of the Foundation voted unanimously to approve the investment on Jan. 27, 2019.