The FPC Foundation helped fund the new kitchen at Interfaith Housing.
First Presbyterian Church Foundation
The First Presbyterian Church of Dallas Foundation is a classic example of Jesus’ parable of the mustard seed: “The mustard seed ... is the smallest of all seeds, but when it has grown it is the greatest of shrubs and becomes a tree.” (Matthew 13:31-32)
In 1958, a group of visionary leaders of First Presbyterian Church of Dallas chartered a Foundation as a separate Texas corporation for the support of the Church. The Foundation received its first funds from the original Trustees in 1961 and made its first grant in 1969 from $6100 in net assets. One Trustee recommended granting “at least $5000” of these accumulated funds. The idea of a long-term endowment was obviously not yet on their minds. The first grant, made to Pan American School in South Texas, for $2500 was followed by many others. By the end of 2013, over $11.6 million had been distributed to further the ministry and missions of First Presbyterian Church of Dallas. Over 70% of distributions have gone directly to the Church in support of its ministries. Today the Foundation has assets under management of $30 million, income on which is available to provide support for the ministry and missions of First Presbyterian Church of Dallas.
The purpose of the Foundation is to support the benevolent, charitable, educational and missionary work of the church. A Board of Trustees elected from the congregation for six-year terms governs the Foundation’s operations. Independent investment advisors, carefully selected and overseen by the Board, manage its assets. A Grants Committee of the Board reviews all grant requests, and prayerfully considers every request in light of the Foundation’s mission.
During 2013, approximately $59,000 of income distributions from these funds supported the music, scholarships, landscaping, communications, missions & evangelism, Day School and Community Ministries of the Church, as well as the Caring Fund at Grace Presbyterian Village. An additional $22,200 was distributed through the Foster Scholarship Fund.
In 2013, the Foundation made grants from unrestricted funds of approximately $757,000 almost 60% of which went directly to First Presbyterian Church of Dallas. Long time mission benefactors of FPCD receiving direct grants from the Foundation in 2013 included Interfaith Housing Coalition, Grace Presbyterian Village, Montreat, Presbyterian World Missions, Gilmont Camp, Presbyterian Pan American School, Chaplaincy at Parkland Hospital, and the Presbyterian Children’s Homes and Services.