Perspectives Magazine: Spring 2011 - Presbyterian Homes & Services
Perspectives Magazine: Spring 2011 - Presbyterian Homes & Services
Perspectives Magazine: Spring 2011 - Presbyterian Homes & Services
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Endowment<br />
Endowment funds are an important source of stability and strength,<br />
and will continue to grow in importance as the older adult population increases.<br />
Gifts placed in endowment funds are held in trust and never spent. They are invested under the advisement<br />
of the Finance Committee of our board of Directors. The earnings from Endowment provide a permanent source<br />
of revenue for mission benevolence, mission development, and quality of life enhancements.<br />
To ensure its continued growth, <strong>Presbyterian</strong> <strong>Homes</strong> invests in Endowment, 10% of all unrestricted gifts greater<br />
than $10,000 and less than $200,000 and 100% of all unrestricted gifts greater than $200,000.<br />
In addition, we always honor donors’ wishes to have their gifts restricted for Endowment.<br />
Endowment provides long range stability, solid programs, and the flexibility for innovation while allowing PHS to<br />
maintain its quality of care and services even during economic downturns. It allows PHS to practice philanthropy<br />
and fulfill the mission in every program area.<br />
at september 30, 2010 endOwment funds cOnsisted<br />
Of $41,815 that was invested as fOllOws<br />
(dollar amounts in thousands):<br />
Cash Equivalents $1,339<br />
u.S. Government bonds and notes 1,428<br />
Equities 11,029<br />
Mutual Funds 17,947<br />
Corporate bonds 9,417<br />
Other 655<br />
totaL enDoWment $41,815<br />
The board distributed $1,933,000 in fiscal<br />
year 2010. Major recipients of these funds<br />
were mission development, chaplaincy,<br />
<strong>Presbyterian</strong> <strong>Homes</strong> of Arden Hills renovation,<br />
bloomington bethany Partnership, Lake<br />
Minnetonka Shores renovation and mission<br />
benevolence.<br />
50000<br />
40000<br />
40,458<br />
47,807<br />
40,298 38,937<br />
41,815<br />
2000<br />
1750<br />
1500<br />
1,455<br />
1,763<br />
1,612<br />
1,885<br />
1,933<br />
30000<br />
1250<br />
1000<br />
20000<br />
750<br />
10000<br />
500<br />
250<br />
0<br />
FY06<br />
FY07<br />
FY08<br />
FY09<br />
FY10<br />
0<br />
FY06<br />
FY07<br />
FY08<br />
FY09<br />
FY10<br />
Endowment (in thousands)<br />
Distribution (in thousands)<br />
2010 2009<br />
Charitable Contributions (numbers in thousands) $5,272 $1,948<br />
Income from Endowment (numbers in thousands) 418 1,368<br />
new Deferred Gift Commitments 13 11<br />
Planned Gifts Received 19 15<br />
neW Donors 1,145 1,409<br />
nUmber oF Donors 2,429 2,128<br />
nUmber oF GiFts 6,206 6,683<br />
20<br />
SPRInG <strong>2011</strong>
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