Petition 81119

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UM Foundations (81119-FA-¶2513)

Amend ¶2513 as follows:
  
¶ 2513. United Methodist Foundations—An annual conference or conferences may establish a United Methodist Foundation. The purposes for establishing such a foundation may include:
1. Providing the services described in ¶ 2512.3 as designated by the donor or at the direction of upon delegation from the conference board of trustees;
2. The promotion of planned-giving programs on behalf of local churches, conferences, and general Church boards and agencies;  
3. Furnishing counsel and guidance to local churches with regard to promotion and management of permanent funds; and  
4. Other responsibilities as determined  requested by the annual conference. The United Methodist Foundation shall have an independent governing board as determined by the incorporating documents approved by the annual conference. The governing board will establish all policies and procedures upon which the foundation will operate. Due care will be exercised to maintain prudent organizational separation from beneficiary organizations while striving to maintain missional purpose and connection.

Rationale

The proposed amendments help to strengthen the fiduciary position of both the foundation and the authorizing entity (church, conference, agency) by calling for the separation of control and consolidation of mission.