St. James Foundation
What is the St. James Foundation
The Foundation is a separate corporate entity, qualifying as a non-profit corporation, incorporated under the laws of the State of Ohio in 1994. Its purpose is to provide long-lasting endowment and support to enable St. James to fulfill its missions. The Foundation endeavors to administer its affairs so that expenditures will always be responsive to the changing needs of an active parish.
In 1910 an “Endowment Fund” was set aside using seventy-five dollars secured from the sale of a lot in Grand River. As years passed this small beginning grew with many generous gifts and bequests made by parishioners and friends. A Board of seven trustees, including the Rector and Senior Warden, administers the Foundation. The five elected trustees serve for a term of five years, being staggered such that one trustee is selected each year at the annual parish meeting. Trustees receive no compensation nor shall they profit directly or indirectly from any transaction of the Foundation. The Board of Trustees is governed by its Articles of Incorporation, Code of Regulations and Investment Guidelines, as approved by the Vestry. The objectives in the administration of these funds are to invest prudently, protect principal, and use earnings with care
How May I Participate?
Any member or friend of St. James may make a gift or bequest of cash, securities or other property. Gifts may be in memory of relatives or friends. Gifts or bequests may be designated to any of the funds. If no designation is indicated, the funds will become part of the Endowment fund. Each gift is recorded in the permanent records of the Foundation. Gifts or bequests should be directed to the St. James Episcopal Church Foundation. The Internal Revenue Service has determined, under present law that contributions, gifts, or bequests are tax deductible.