Clearwater Unitarian Universalist Church Foundation , Inc.

Annual Report to the UUC Congregation

Total assets of the Foundation were $396,291 on December 31, 2007, compared to $386,751 on December 31, 2006. Assets are invested in common stock mutual funds and various fixed income securities. 2007 was a subpar year for common stock markets. As a result, the investment gain for the Foundation portfolio was 5.1% versus 11.8% in the previous year.

A basic principle of the Foundation is that only earnings on the assets, including a portion of capital gains, are available for grants. Guided by this principle, and the generous support of donors who have believed in the long term future of UUC, the Foundation has grown from nothing in 1979 to current levels, while distributing well over $300,000 to UUC. In recent years, the Foundation has set annual grants at 4.25 percent of average assets. Under this guideline, a grant of $15,792 was made during the 2007-08 church year to help build a fund to cover replacement of the air conditioning system and to cover the costs of the second service.

People who believe in the long term health of UUC may make a current tax deductible donation to the Foundation. A gift to the Foundation via a bequest is also a popular way to provide perpetual support. Should any member of UUC have questions about the Foundation, please talk to one of the Directors or Officers.

The current directors of the Foundation are Marianne Davis, Harold Winner, John Bromell, Pat McGiverin, Peggy Long, Vivian Edie, Jack Franklin, Terry Stapleton, Roberta Watson, Bill Snell, Don Ekberg, Bob Barnett, Dick Rolfes, Joe Myers, and Bill West. We also wish to give special recognition to Herb Blume, who recently retired from the Foundation Board after many years of valuable service.