Frequently Asked Questions

Foundation List of Categories

What is the Lovers Lane UMC Foundation?
How long has the Lovers Lane UMC Foundation been around?
What does the Foundation do?
Who runs the Foundation?
What is the source of the Foundation money?
How is the Foundation money spent?
What are Foundation Funds?
What are some of activities supported by the Foundation?
If the Foundation was previously able to function without a Director, how will its activities change now that someone is managing the Foundation full-time?
Is there a minimum size of gift that can be made?

What is the Lovers Lane UMC Foundation?

The Lovers Lane UMC Foundation is a non-profit company established to hold permanent investments that, over time, will grow and produce income that can be used for charitable purposes.

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How long has the Lovers Lane UMC Foundation been around?

The Lovers Lane UMC Foundation was established in 1981, but information about it and its activities were not talked about often enough for people to understand its importance. But that changed in early 2004 when the Foundation hired the Rev. Donna Whitehead as its first Director. More more information about the activities of the Foundation are being communicated to the congregation.

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What does the Foundation do?

The Foundation invests money that people have given over the years, manages those investments, and uses the income to support church needs not covered in the regular budget.

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Who runs the Foundation?

Bettye Vanderwoude, the director hired in January 2007, oversees the foundation along with assistance from a Board of Directors. Board members are part of the church Leadership Board and may also be Trustees, Stewards, or active on other committees.

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What is the source of the Foundation money?

Donations come from many sources. The Foundation has accepted gifts of cash, stock, property, life insurance and other assets. Sometimes gifts come through wills and estate planning.

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How is the Foundation money spent?

So that the investments can continue to grow, the Board can spend only up to 4.5% of the total assets each year. Funds are divided among a variety of funds. How the money is spent depends on the particular fund.

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What are Foundation Funds?

The Foundation is divided up into funds, or separate accounts, most of which are restricted to certain activities specified when the donor made the gift.

For example, the Berkeley Fund provides money for the Lovers Lane staff to attend continuing education courses.
The Simons Fund generates income which can only be used for maintenance of the sanctuary.
The fund mix also includes general funds that support maintenance, technology upgrades, outreach, etc.
One fund is unrestricted and, therefore, can be used to support any church activity that the Board approves.

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What are some of activities supported by the Foundation?

Other restricted funds in the Foundation support the Shipp Lecture Series, the McCormick Lecture Series, the annual Lenten Speaker, maintenance for the Benton Garden and maintenance for communications equipment. The Board has often approved unrestricted funds for equipment upgrades and replacements on campus, general maintenance, and grants to Promise House and other worthy organizations.

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If the Foundation was previously able to function without a Director, how will its activities change now that someone is managing the Foundation full-time?

Unfortunately, the current funds in the foundation are not nearly enough to support Lovers Lane and the community in the way it needs to be done. Pastor Copeland estimates that the Foundation should be at least two and a half times its current total in order to provide adequate maintenance for the church campus and equipment plus continue to provide educational and outreach opportunities. A full-time director and the board can focus on making everyone in the congregation and beyond aware of the Foundation’s activities and how more people can be a part of ensuring that Lovers Lane will be able to continue its good work.

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Is there a minimum size of gift that can be made?

Gifts of all sizes are welcome.

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