About St. Paul's Methodist Foundation of Houston
St. Paul's Methodist Foundation of Houston began in May 1960 with a $100 contribution from Troy N. Whitehurst, who saw the vision of what it would mean to establish a perpetual fund to support the maintenance of St. Paul's beautiful sanctuary, facilities, and grounds. The Foundation was then chartered into being with trustees Albert M. Ball, Claud B. Barrett, M.D. Jenkins, Latimer Murfee, R.G. Rice, W. King Sanders, and Rev.Dr. Alfred H. Freeman, St. Paul's senior minister at that time.
Today, the St. Paul's Methodist Foundation of Houston holds assets valued at more than $ 9.7 million as of March 31, 2008, and provides more than $350,000 in grants to St. Paul's United Methodist Church in support of its buildings, grounds, and music as well as funds for scholarships for higher education, mission and outreach projects, and lectureships.
The Foundation's Board of Directors
The funds of St. Paul's Methodist Foundation of Houston are administered by a Board of Directors comprised of twelve members of St. Paul's who elected through the Charge Conference of St. Paul's United Methodist Church to serve for a term of five years. The Board also includes one Lifetime Director and the Senior Pastor of St. Paul's United Methodist Church. Along with the Executive Director of the Foundation, there are other advisory members of the Board who represent St. Paul's Church Council, Finance Committee, and the St. Paul's Board of Trustees.
Regular meetings of the Board are held at the church, where the offices of the Foundation are located. All business of the Foundation is reported annually to the Charge Conference of St. Paul's United Methodist Church.
Current members of the Board of Directors of St. Paul's Methodist Foundation are:
Elizabeth B. Wiggins, Chairperson
Brian W. Garrison, Vice-Chairperson
Vic Baldridge, Secretary
John Hawkins, Treasurer
Norman R. Davis
Fred Hofheinz
David C. Hull, Jr.
Sarah J. Lane
Mary Linda Portner
Dr. Byron P. York, Jr.
James V. Walzel, Lifetime Director
Rev. Dr. L. James Bankston, Senior Pastor
Investments and Financial Reporting
The Foundation's funds are professionally managed and invested by Fayez Sarofim & Co. and The United Methodist Foundation of the Texas Annual Conference. Financial statements are prepared quarterly and, as of the quarter ending March 31, 2008, reflect a total of $9,726,939 in endowed deposits.
Annual Reports are distributed each year to all members and affiliates of St. Paul's and to anyone else who requests a copy. If you would like to receive a copy of our 2007 Annual Report, you may contact Rev. Shelli Williams by e-mail or by telephoning the church office.