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Eno River Fellowship FoundationWhat is the Eno River Fellowship Foundation?The Foundation is a permanent endowment fund that was created to provide financial support for the Eno River Unitarian Universalist Fellowship. The Foundation's assets provide a lasting way to ensure the future of our shared values and beliefs. The Foundation is a qualified 501(c)(3) nonprofit organization, separate from ERUUF, with its own Board of Directors drawn from ERUUF members. Current assets exceed $500,000 and we distribute up to 5% of assets each year, all in support of ERUUF. How the Foundation OperatesThe Foundation supports ERUUF by funding grant applications that are submitted by members, staff, and committees. Funds are not provided for normal operating expenses but rather for special items that enhance and assist Fellowship activities. Grant amounts range from under $100 to over $5000. Recently funded projects include:
The grants process operates on an annual cycle. Preliminary applications are due in September at which time the Foundation board meets to discuss the applications. A board member is assigned to work with each applicant to fine tune the application. Final applications are due in October and final funding decisions are made by the end of that month. Click the link Yunder Then What below to find the Grant Application. In 1988 Bill and Fran Hollister expressed a wish to build a memorial garden at ERUUF’s “new” and permanent site on Garrett Road. The expense of the garden and its continuous care would require a fund of money that was not represented in the annual operating budget. A group of ERUUF leaders considered the options available to the Fellowship and a structure that would support the memorial garden plus other projects at ERUUF. The result of their efforts was the creation of the Foundation, to accommodate and facilitate the memorial garden project, and to assure the Fellowship’s financial support in perpetuity. Those founding members were: Shirley Collins, Kay Edgar, Clara Yager, Rick Searles, Gene Magat, Charles Milone and Russ Schulke. Joining in the next year to help expand the Foundation’s development were: Gil Yager, Linda Brown and Rich Hammer. Original donors to the Foundation included Ivor and Shirley Collins, Rick and Georgie Searles, Gene and Phyllis Magat, Philip and Helen Pratt, Warren and Joan Ganong, Margaret Hudson, Bill and Fran Hollister, Bob and Maggie Behn. Through outright gifts, bequests, and return on investments, the fund grew to $35,000 in four years, at which point the Foundation board set a goal to reach $100,000 by the year 2000. This goal has been surpassed. By 2005 the Foundation’s endorsement value had reached $240,000 and as the result of a major bequest, passed $600,000 in 2007. On an annual basis, grant requests are received, considered, and selected for financial support by the Foundation Board. The total amount available for funding grants is based on the total value of the Foundation’s assets. Last year, we had $21,454 to award. The Foundation’s by-laws prohibit contributions to ERUUF’s operating budget. The Foundation makes awards to members, committees, or staff for compelling ideas that enhance ERUUF. The Foundation, a permanent endowment fund that serves as a savings account for the fellowship, has awarded over $21,400 to nine applicants for ERUUF projects in the ’08-’09 fiscal year: The Foundation selects grant winners annually. The amount available for these awards is calculated as a percentage of the Foundation's total fund value.) Any individual ERUUF member or group of members, any ERUUF committee, or any staff member may apply. The strongest proposals will not replicate or overlap work that is already being done by other groups within the Fellowship. Cooperative efforts are encouraged. The exact amount is calculated as a percentage of our total fund value. This year we estimate that more than $12,500 will be available for grants. Proposals to enhance ERUUF may include requests for purchase of equipment, services, furniture, books, curriculum materials, publicity, seminars, et cetera. They may not be used for expenses that are typically included in the ERUUF annual operating budget. Proposals that are most likely to be funded will meet the goals of ERUUF’s Strategic Plan. If funds are requested for an ongoing project, we would expect that the project will develop financial support from other sources after the grant period. A summary of ERUUF's Strategic Plan displays below: Preliminary proposals are due October 12, 2009. Please submit your proposal on the form below. You may also pick up a copy of this form in the office. Please state clearly your project ideas; an estimate of cost; names of members who would carry out the effort; the project’s link to our strategic plan; and contact information. We’ll respond no later than October 11th with advice or guidance. Email drafts are encouraged, but not required. Full proposals (emails are fine) are due November 7, 2009 and should include in two pages or less: Name of the contact person responsible for oversight and reporting. Submit all proposals to: Eno River Fellowship Foundation, 4907 Garrett Rd., Durham NC 27707 or by email to Roberta Wood at
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or Bo Glenn at
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These Foundation board members are available and eager to discuss proposal ideas and to offer assistance: Peter Aitken, Glenn Borg, Kay Edgar, Marilyn Hartman, Nancy Henley, Mark Kuhn, Rick Searles, Roberta Wood. When you make a gift to the Foundation, that gift lasts forever. And when that gift reflects your words and deeds, you get great satisfaction knowing that you continue to make a positive difference in perpetuity. The Eno River Fellowship Foundation is named as a beneficiary in the wills, trusts and insurance policies of several ERUUF members. Gifts of cash are made by individuals as memorials or tributes to a person; celebrations of important events; legacies in planned giving; and during special appeals. Donations made to the Foundation are tax deductible as allowable by law. We urge you to consult with your own tax and legal advisors for a full discussion of the tax implications of gifts. Although it is expected that the Foundation will receive monies upon the death of some members, it is impossible for us to calculate the amount of those contributions or the time at which they may occur. Following are ways to make a gift to our Foundation. It is important to note that gifts or bequests to ERUUF are not transferable to the Foundation. Donations to the Foundation must be must be made directly to the Eno River Fellowship Foundation, which is a separate legal entity. This is for informational purposes only. Again, we encourage you to speak with your own advisors before making a gift. If you have an account with Charles Schwab & Co., please write a letter of instruction to Schwab asking that shares be transferred to the Foundation’s account at Schwab. The account number is 7151-1306. If your account is at any other brokerage firm, your letter of instruction to that broker should contain the flowing information: Deliver via DTC Clearing 0164, Code 40, Charles Schwab & Co. for account of Eno River Fellowship Foundation (7151-1306). When making gifts of securities, please notify the Foundation by sending a copy of your letter of instruction to the Foundation’s treasurer, Glenn Borg. You may designate the Foundation as a full or partial beneficiary of a retirement plan account such as an IRA, or an insurance policy, by naming the Foundation using the above information. There are other means of supporting the Foundation which you may wish to discuss with your advisors depending on your age, your financial and family circumstances and your long range giving plans. If you, or someone you know, are interested in learning more about the Foundation please contact any of the following board members: (Contact the ERUUF office for individual members' email addresses and/or phone numbers). *For specific questions regarding beneficiary designations, bequests or transfer of securities please contact Glenn Borg, Kay Edgar or Mark Kuhn. The Foundation is managed by volunteers, who are all members of Eno River Unitarian Universalist Fellowship. As Board members rotate, new members are invited to join. Regardless of your intentions about leaving money to the Eno River Fellowship Foundation, we think you should have a will. We offer free workshops each year on wills and trusts. Please let us know of your interest, and we’ll be sure to register you in the next workshop. Contact Kay Edgar. The investments of the Foundation are managed by our Finance Committee, consisting of current board members Kay Edgar, Glenn Borg and Mark Kuhn and past board member Leah Ogden. All three members of this committee are financial professionals, and their goal is to invest the Foundation’s endowment to preserve the principal while providing income to fund grants.
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