HOLMAN’S PERMANENT ENDOWMENT COMMITTEE
Managing the Gift of a Lifetime
Holman’s Permanent Endowment Committee is entrusted with one of the most sacred tasks in the body of the church: managing the gifts, usually an estate or a lump sum of cash, bequeathed to the church through a will. In most cases, the deceased is a beloved member of the church. The responsible management of this gift accumulated over a lifetime is not taken lightly by Holman’s Permanent Endowment Committee.
The catalyst for the formation of Holman PEC was in the late 1980’s with then Church Treasurer Wayne Moore. Mr. Moore now Chairs the PEC Board of Directors. As former Church Treasurer, Mr. Moore saw many large and small memorial gifts come into the church. The small gifts were left to accumulate, mostly untouched. However, the larger gifts were, for the most part, consumed by church operations. It just didn’t seem fitting that a gift that took a lifetime to accumulate would disappear in a single budget year. Some years later, when Mr. Moore was elected Church Lay Leader he discussed his concerns with Holman members Leon Davis, Edward Terry, Loymon Batiste and others. They were all in agreement that something should be done. In 1999, they made a decision to raise seed money through a series of golf tournaments for a foundation that would be a long lasting repository for memorial gifts and bequests. Proceeds from the golf tournaments would go to building Holman’s Foundation. Early supporters and sponsors included Aaron Eubanks, Alvin Pittman, John Sweeney, Quinton James, Henry Guidry, Hank Smith and John Griggsby.
The golf tournaments were a huge success, netting more than $30,000 over the course of six years. Small donations were made to Holman’s youth activities, and start-up capital was provided for Holman Community Development Corporation, but the majority was retained for the Holman Foundation.
When Mr. Moore was Church Council Chair in 2003 he recommended and Reverend Henry Masters, Trustee Board Chair John Sweeney and Committee Chair Aaron Eubanks relinquished Trustee Board control over gifts and bequests to the Church and supported the creation of a Permanent Endowment Committee, in accordance with the United Methodist Discipline. Over the next nine months Mr. Troy Davis, Mr. Cliff Cannon, Reverend Masters, Church Treasurer Hank Smith and Mr. Moore met regularly researching, interviewing and strategizing how to construct a Permanent Endowment Fund and Committee that would be successful and stand the test of time. An attorney drafted the By-Laws which went through several rounds of review before being presented to the Church Council for approval and subsequently approved by the Charge Conference.
Since it was first established in 2003, Holman PEC has continued to preserve the rich legacy and heritage of Holman United Methodist Church and its members.
According to its By-Laws its purpose of the PEC is to aid, promote and develop religious, charitable, and educational activities, to make donations, to dispense contributions through, and otherwise aid and support qualified non-profit organizations. No part of the earnings of the PEC benefits any private shareholder or individual or go towards normal items in the Church administrative operating budget. No substantial part of the activities of the PEC involves propaganda or otherwise, attempts to influence legislation. The PEC does not participate in or intervene in a political campaign on behalf of a candidate for public office.
PEC is administered by a board of directors whose duties include:
- Accept and acknowledge gifts made to Holman United Methodist Church and its Endowment Fund
- Maintain a complete and accurate record of all memorials, devices, bequests or other gifts made to the Church Endowment Fund.
- Invest funds in such a manner as to assure current income and long-term growth of these funds.
- Use the funds consistent with the wishes of the donor.
- Distribute funds in accordance with the by-laws of the fund or as directed by the donors.
- Report to the Charge Conference and the Holman Church Council when requested, but not less than annually, the status of invested funds, the amount of earnings, and the actual distribution of such funds.
- Exercise reasonable skill, prudence, and diligence in the performance of its duties recognizing that special gifts and bequests should not take the place of faithful stewardship to the operating income of the church.
Programs and Services Supported by Holman’s Permanent Endowment Committee:
- Annual Scholarship Awards
- United Methodist Church Black College Fund
- Jobs for Kids
- Bridges to Historically Black Colleges and Universities (HBCU)
- Spiritual Formation and Christian Education
Holman Permanent Endowment Committee Members:
Rev. Dr. Ken J. Walden – Senior Pastor
Wayne Moore – President
Alvin Pittman – Vice President
Teresa Mack – Secretary
Van Scott – Treasurer
Sandra R. Jefferson – Trustee Board Chair
William Hardy – Finance Committee Chair
Lisa Nicholas – Church Council Chair Representative
Doris Woods, Aaron Eubanks – At Large Members