Endowment Fund of the Unitarian Society of Santa Barbara

What is the USSB Endowment Fund?

The USSB Endowment Fund holds and administers bequests and gifts for the benefit of the Unitarian Society of Santa Barbara. It is a 501© (3) corporation organized and operated exclusively for charitable purposes.

What is the Fund’s mission?

The Endowment Fund is a means for members and friends to make an investment in the future of the USSB. The bequests and gifts are intended for long-term investment and for providing a continuing stream of future cash payments to the Society, while preserving or increasing the assets of the Fund.

How can I support the USSB Endowment Fund?

Make a bequest to the USSB Endowment Fund in your will or other estate-planning documents. More details can be found under Planned Giving here: www.ussb.org/planned-giving

Donate cash or securities directly to the Fund at any time. Members sometimes make these living donations in honor or in memory of someone.

What is the current value of USSB Endowment Fund assets?

Through the generosity of past and current members, and careful long-term investing over many years by Endowment Directors, the total assets of the Fund reached $1,523,811 as of December 31, 2017. Since assets are invested, the value fluctuates with the market.

Does the Fund support the Society’s operating needs?

The Fund has historically supported the Society through two semi-annual payments, each equal to 3% of the average working assets value of the fund over six six-month periods. For the 2017-2018 USSB fiscal year, the Endowment Fund has made contributions totaling $85,712.

How are USSB Endowment Fund assets invested?

As of June 2015, all assets are invested in a fossil-fuel free and socially responsible portfolio. This respects the congregation’s expressed desires of investing consistent with the Fossil Fuel Divestment 2014 Business Resolution of the UUA.

Who manages the USSB Endowment Fund?

The USSB Endowment Fund is managed by a four-member Board of Directors. Each member of the Board shall be a member of the USSB, and one member shall be the USSB Treasurer.

Directors are appointed annually by the USSB Board of Trustees and serve three-year terms.  They meet quarterly to review the Funds assets and performance, approve the Endowment reports to the Board, and determine the semi-annual distributions to the Society.

Investment management services are provided by Trillium. Trillium also engages in shareholder advocacy with companies on their approved investment list in the areas of sustainability, workplace diversity, board diversity, political and lobby spending, among others.

A copy of the Trillium USSB Endowment Report can be requested from Erin Wilson, USSB Director of Administration, erin@ussb.org.  It is important to recognize that the Endowment Fund asset allocation and investments are unique to the investment objectives of the Fund. In many, if not most, situations, the investment strategies of the Fund would not be appropriate to meet a member’s specific investment goals.

Who are the current Endowment Fund Directors?

Gun Dukes                  Chair                                       gundukes100@hotmail.com

Charles Hamilton           Director                                   chbullwinkle@aol.com

Paul Freeman              Secretary                                 pfreeman@prodevpartners.com

Onolee Zwicke            Treasurer                                 onolee@cox.net

 

The Fund Directors welcome your questions and interest.

 

 

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