ENDOWMENT

Distributions from Horizon’s Endowment Fund are available to further Horizon’s mission.

Members with ideas about how to use these funds can bring their ideas to Horizon’s Circle Coordinators or directly to Horizon’s board. The board, with the Endowment Committee’s approval, will decide which projects will be funded by Endowment distributions.

Distributions from the Endowment Fund have been used to:

  • Upgrade Horizon’s parking lot lighting

 

We acknowledge and thank the following for their contributions to Horizon’s Endowment Fund.

  • Doris and Lowell Blaisdell

  • Nelta Owen in memory of Larry Owen

  • The Unitarian Universalist Congregation at Shelter Rock’s which funded the Legacy Challenge

  • Marty Robinson whose contribution was facilitated by her four daughters: Susan Robinson Williams, Gaile Wilhite, Mary Wilhite and Ann Robinson

  • Judy and M.C. Meador

 

Contributions can be made to the Endowment Fund at any time. Additionally, when doing your estate planning, please consider an Endowment Fund contribution, which will continue to help Horizon fulfill its mission for years to come. You can use our Bequest Form to include Horizon in your financial planning. To discuss adding Horizon to your estate plans, please email Stewardship@HorizonUU.org.

The value of the Endowment Fund is $462,371 at the end of 2023.

 

Horizon’s by-laws control the operation of Horizon’s Endowment Fund.

The Church shall maintain an Endowment Fund to further and augment the purposes, principles, objectives and programs of the Church.

Endowment Fund distributions are not intended to replace payments that should come from the annual budget such as staff salaries and facilities maintenance, including replacing depreciated items, and other historically budgeted items.  Endowment Fund distributions may be used for facility upgrades as well as for other activities that support Horizon’s mission.

Distributions shall be capped at 4% of the fair market value as of January 1.

The Endowment Fund is invested under the direction of the Endowment Committee which is currently (Fiscal Year 2024-2025) made up of Ed Keller, Jan McDowell, and Michael McKee.

The Endowment Committee shall direct the investment of the Endowment Fund.

Assets of the Endowment Fund shall be invested primarily in equity index funds as selected by the Endowment Committee.

In keeping with our UU values, $10,000 of the Endowment Fund was invested as a low interest loan to PeopleFund, a non-profit Community Development Investment Fund (CDIF) that invests in underserved Texas communities. It makes a significant portion of its loans to Hispanic and African American women and men and provides access to capital, education, and resources to build healthy small businesses.

The Unitarian Universalist Association encourages support of CDIFs and matches Horizon’s investment in PeopleFund.

About one quarter of the Endowment Fund is invested in a mutual fund with a high ESG - Environmental, Social, and Governance - rating that also has a good rate of return history. The remaining funds are invested in high quality, no/load, equity index mutual funds.