The GracePoint foundation (Foundation) was established to accept endowment gifts and works in partnership with the GracePoint Board of Directors and administration. This partnership is tasked to ensure that no potential client is turned away because they are unable to pay the fees.
The GracePoint Foundation was founded in the year 2022 to provide financial support and stability for the Gospel proclamation activities of GracePoint today and into the future. Your gifts may be given in several ways. For example, cash will make an impact today, pledges will make an impact tomorrow, and endowment gifts will make an impact forever, with earnings on endowment assets of the Foundation sent to GracePoint annually. In whatever way you choose to make your contributions, all gifts will serve to help God's people who are hurting.
How does the GracePoint endowment grow?
The answer is through your gifts and applying sound investment practices to the sound stewardship of your gifts. The GracePoint Board of Directors has created a Foundation with its own separate Board of Directors. The Foundation Board then established an Investment Committee focused on applying sound investment practices to the stewardship of your gifts. An Investment Policy Statement was then adopted by the Board and individuals experienced in asset management were appointed to the committee. The committee engages independent investment advisors to assist in investing the endowment funds.
What is GracePoint's policy for ensuring good stewardship of endowment funds?
The Foundation Board of Directors has adopted an Investment Policy Statement that includes the following:
- Creation of an Investment Committee to provide direct oversight of the endowment fund asset management and the quarterly reporting of such activity to the Foundation's Board of Directors.
- A diversified asset allocation of 60% equity and 40% fixed income.
- A spending policy of up to 5% per year of the beginning of year fund corpus.
- Engagement of an investment advisor who invests the assets in accordance with the policy.
As an infant in the Foundation world, GracePoint Foundation received a major cash gift in 2022 to establish the Foundation so that others may make an endowment gift to support the mission of GracePoint.
What Is a Foundation?
A private foundation, such as the one GracePoint has established, is a nonprofit organization that typically provides funding and support through donations from individuals and/or entities. A board of directors oversees the assets, primary endowment gifts and is responsible for receiving charitable gifts, managing and investing assets, filing tax returns, and handling other administrative reporting requirements.