History
The Bruton Parish Church Endowment, Inc. (the “Endowment”) was established in 1907 to manage funds donated to provide relief to Bruton Parish Church for expenses incurred due to its national prominence, location in the restored area of Colonial Williamsburg and heavy visitor traffic. A secondary but related goal of the Endowment Fund is to continue support of the ministry and music program, particularly costs over and above those costs normally incurred by a church.
What are The Endowment Funds?
They are funds donated to and owned by the Bruton Parish Church Endowment. They are not the monies that are pledged or given annually to the Church, nor are they the receipts from the plate collections, tower box, concerts, or the Gift Shop.
They originated from substantial gifts that were designated as a permanent fund, the income from which is allocated by the Endowment Directors upon request by the Vestry, to supplement the parishioners’ support of the Church’s activities. These gifts were given with the understanding they would be used to supplement, but not replace, the budgeted amounts for the ministry and music of the Church and were to be used for no other purpose.
The Directors are responsible for the careful investment of the funds to preserve the principal and to provide, in so far as possible, for an increase in income to help meet the growing needs of the Church.
The Directors have, over the years, endeavored not to expend all the income generated by the Funds but to retain a portion as a hedge against inflation and the possible reduction in dividend and interest income.
Major Contributions to the Endowment
1907: The Bruton Parish Church Endowment Fund was chartered.
1923: The Marshall Foundation was chartered.
1939: Mr. John D. Rockefeller gave the church the present organ in memory of Vernon M. Geddy, Sr.
He endowed money ($32,125) at the time to provide for the maintenance of the organ and
for its replacement when it reached the age it could no longer function properly.
1957: Mr. Rockefeller realized the demands on the church building were significant and gave the
Endowment $500,000, the income from which was to be used to supplement, but not replace,
the budgeted amounts for the ministry and music of the Church. These funds were to be
used for no other purpose.
1957: Mrs. Letitia Pate Evans of Atlanta – a friend of Bruton Parish Church – left an estate whose
executors, under the terms of her will, are to pay the Bruton Parish Endowment Fund $6,000
annually.
1974: The Bruton Parish Church Endowment Fund and the Marshall Foundation, two separate
corporations, were merged into the current tax-exempt organization.
Current Status
The Endowment is a 501(c) 3 non-profit exempt organization governed by a Board of Directors under the terms of its Articles of Incorporation, By-Laws, Mission Statement and various policies. Bruton Parish Church is the sole grantee of the funds.
Distinct Missions of the Bruton Parish Church Endowment and The Bruton Parish Church Foundation
The mission of the Endowment Fund is to provide relief to the Church for costs incurred due to its national prominence, location in the restored area of Colonial Williamsburg, and heavy visitor traffic. A secondary but related goal of the Endowment Fund is to continue the Fund’s support of the ministry and music program of the Church, particularly for costs over and above those costs normally incurred by a Church which does not enjoy the national prominence of Bruton Parish.
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The Bruton Parish Church Endowment
funds come from major gifts since 1907 and provide funding for:
- Maintenance of the church building and churchyard
- the organ
- music programs
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The Bruton Parish Church Foundation,
created in 2003, provides financial support for the Parish and its ministries. The Foundation is a repository for gifts and bequests other than annual giving. All gifts and bequests made to the Foundation are invested to build a corpus that will provide funds for:
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