First Methodist Church of Fort Worth

“Copies of the form 990 are presented to the board of directors for review and approval before filing. Authorization of the filing of form 990 was formally approved by the board of directors at its quarterly meeting.”

“Any services that are paid directly to a board member must be approved by the board; while the vote is taken, the board member must recuse themselves from the meeting and voting process. Any deliberations are noted in the official board minutes.”

“Key personnel compensation is determined through the independent members of the board of directors using comparative data. Contemporaneous substantiation is provided through minutes of the board and employment documents.”

“The foundation makes its governing documents, conflict of interest policy, and financial statements available to the public upon request either written or in person.”

“There were no changes made to the selection or oversight process during the year.”

“Through the generosity of many dedicated members and friends of first united methodist church of fort worth, the first methodist church of fort worth foundation inc. Continued its tradition of building its asset base and generating income for church use. We are continually thankful for legacy donations that allow donors to make a gift and know it will continue to support our church in perpetuity. Through legacy giving, people who love our great church continue giving beyond their lifetimes. Each donor's philanthropy and memory live forever. It's almost as if they continue to write a check to the church every year because their original gift to the foundation is still intact, producing annual income for the church. Having annual income produced by the endowment assures gifts extend through multiple generations because of the unique structure of the foundation endowment. The foundation's endowment uses only the interest and income generated from original donations supporting the church and its entire community, never touching the original contributions that form the corpus of the fund. Since its beginning in 1964, the foundation has released over $67.3 million to our church. We strive to have everyone understand the foundation's value in its interrelationship with the church. The foundation works diligently to assure that congregants know about how the foundation operates and take pride in its function to help the church do its invaluable work. We are thankful for the wise decision of past and present boards of the foundation as they fulfill the dream of our 1964 founders. In 2022, over $2.5 million in foundation income was released to the church for their use, where they saw the greatest need. The church was able to execute the following, among other maintenance and improvement efforts: church general budget support, upgrading the church it system, bell tower foundation/tree project, justin building hvac controls, west parking lot improvements, 5th street landscaping, children's wing carpeting, security office construction, church security project, purchase timpani musical instrument, support of the methodist justice ministry, first street mission, dementia friendly to assist ministries and center for transforming lives. Our goal is to ensure we have clear, understandable, and transparent information about foundation operations, efforts, and results. We share facts and figures with interested parties through print collateral materials, guest lectures for sunday school classes, social media posts, and our website: http://www.fmcfoundation.org. The foundation's endowment continues to be a timeless, enduring resource for the first united methodist church of fort worth. We hope to inspire our fumcfw family to become even more interested in what the foundation has released to the church for its programs, services, and outreach. We hope they will appreciate that we exist only to enhance the church through ongoing underwriting made possible by legacy contributions from our altruistic, generous donors.”