All long-term investments are managed by the Presbyterian Foundation, which maintains a diverse portfolio that may favor securities with respect to Environmental, Social, Governance (ESG) criteria. The Foundation provides all necessary investment services at a competitive fee. Westminster’s trustees work with our investment officer at the Foundation to balance risk and returns according to our 60-40 investment strategy: 60% invested in equities (growth funds) and 40% invested in fixed income securities. The exception to the 60-40 formula is the General Trust Fund which is invested 100% in cash equivalents. The trustees rebalance when necessary.
The trustees use a unique spend-down calculation to ensure the long-term sustainability of each fund. Throughout the year, the trustees also monitor fund spending to ensure funds are being used appropriately.
Trustees serve for three years and may serve no more than six consecutive years. In addition to attending full board meetings, Trustees serve on one of three sub-teams:
| Investment Committee | Development Committee | Odiorne Committee |
| Marilyn Bergen (2024)
John Barker (2025) Jim McGill (2025) Lorin Rice (2026) |
Dan Vetter (2024)
Dick Allen (2025) Clark Worth (2026) Jane Kurtz (2026) |
Barry Lundberg (2024)
Fran Dyke (2025) Phil Marquis (2026)
|
Any of them would be happy to further explain Westminster’s Lockwood Legacy Funds and how they are managed. The trustees take the responsibility of stewardship very seriously.
In researching the origin of each of the Lockwood Legacy Funds going back to 1959, we found that the origination [legal] documentation in most cases does not specify that they are to be managed as a true, restricted endowment, where ONLY the earnings can be spent. While unrestricted gifts are wonderful in that they provide greater flexibility to the church’s Session to use the funds as needed, the Trustees want to ensure that we also have restricted endowment funds where only the earnings can be spent and the principle will always be protected so that it continues to produce earnings for future generations. The Westminster Forever Fund – the newest addition to our family of funds – was established in 2024 to provide a vehicle for those wishing to give to a true endowment.