May 15 Update: Negotiations to raise the U.S. debt ceiling are continuing ahead of the June 1 “X-date,” which is the day Treasury Secretary Janet Yellen has warned that the government’s borrowing limits could be reached. President Joe Biden and House Speaker Kevin McCarthy have scheduled meetings this week to discuss a potential deal. Remember that in 2011 a deal was reached just two days before the “X-date,” so while this can be nerve wracking, we have seen this before. To date, U.S. stocks have not seen much debt ceiling-related pressure.

My colleagues Trent Sparrow and Amy Bulger recently penned a blog describing the process for our recent review and refresh of Wespath’s Investment Beliefs. Likening the project to a modern “reboot” of a classic film franchise, Trent and Amy eloquently explained that Wespath’s core convictions haven’t changed. Rather, the subtle updates to our beliefs will help our stakeholders better understand how they influence the way Wespath positions its investments in alignment with our convictions.

I’d like to expound further on one of those beliefs—“Diversified, Long-Term Perspective”—and examine some of the specific investment strategies resulting from it…

Faith Foundation Northwest’s Board of Directors is pleased to announce that Julia Frisbie has been selected as the next executive director of the Foundation, effective July 1, 2023. Frisbie succeeds Tom Wilson, who previously announced his intent to retire after 32 years of service.

As long-term investors, we at Faith Foundation Northwest rarely react to or even address short-term market events. However, we’ve already received a few questions about the recent Silicon Valley Bank (SVB) situation and our answers to these questions are good news, so I want to share them with you today, along with the following brief from our investment partner Wespath.

Emily Leslie was a faithful United Methodist her entire life. Her faith was forged and nurtured in her younger years at White Salmon UMC. She raised her family at Pioneer UMC in Walla Walla. Emily earned her teaching certificate, bachelor’s, and master’s in education all from Central Washington University and spent 33 years as teacher, retiring in 1986 from the Walla Walla School District. She spent her last years connected to First UMC Pasco. In 2016, Emily contacted the Foundation about setting up a Charitable Gift Annuity.

After a remarkable career, Bishop Elaine Stanovsky is retiring at the start of 2023. She has asked that any retirement gifts benefit the Circle of Indigenous Ministries, which is part of an ongoing effort to heal historic trauma and dismantle racism.

December is one of the busiest seasons for church leaders, so it’s easy to put fundraising on the back burner. But the truth is, if you’re not making a year-end-appeal, you’re leaving money on the table.

Tom Wilson, the Executive Director of Faith Foundation Northwest, shared his plans to retire at the end of June 2023 during its corporate board meeting in October 2022.

In this quarter-end commentary, Wespath Managing Director Joe Halwax provides perspective on a persistently difficult economic landscape, including stubbornly high inflation, the Fed’s continued stance, a looming global recession, Europe’s energy crisis, the strength of the U.S. dollar, and more. Joe also indicates key areas to watch in the coming quarter.

You may remember that last fall we published a piece called 6 questions to ask about your church’s investments. This year, along those same lines, we’ve tried to anticipate some of the questions you may receive from your committees, and provide information that would help you answer them, either during your fall meeting or as part of your report to Charge Conference. We hope you will find information that supports and informs your important task.

A message from our staff to the delegates of our annual conferences. We miss you and wish we could be together!

That’s what longtime coworkers told us when we asked about the life of Jean Reis: “She was an institution.” “She had her finger on the pulse and wise counsel to offer.” Jean made careful plans for her legacy to be consistent with the life she lived, and through the bequest she left to the Foundation, she remains influential in the Pacific Northwest Annual Conference to this day. We honor her life and legacy here.

Our asset manager Wespath “issued a joint call from 150 institutional investors for a fair, effective and equitable global response to the pandemic. This statement included a request for countries to fully fund the ACT Accelerator, a multi-stakeholder partnership dedicated to developing, producing and ensuring equitable access to COVID-19 tools.

Wespath believes that collaborative initiatives like the ACT Accelerator can be part of the solution. We have also engaged with pharmaceutical companies involved in the production of COVID-19 vaccines regarding their commitments to meet vaccine demand.”

Dear Foundation,

I want to give money to my church for a specific project, but I’ve been holding on to it because our current pastor doesn’t share my priorities and won’t spend it the way they should. How can I make sure that my gift gets used for its intended purpose? Do I have to wait until we get a new pastor? Or is it best to put this kind of gift in my will?

This is a tough one. Giving is easier when there’s a common vision. I’m sorry you’re having this experience.

As you plan ahead for stewardship season, we hope you’ll find time to be intentional about celebrating All Saints Day. This is an opportunity to provide pastoral care for families who have lost loved ones, and it’s also a time to lift up and celebrate the ways in which our ministry continues to be enriched by members who have gone on to glory. Done well, it becomes a gentle reminder about the opportunity for bequest giving.

Our friends and colleagues at the Mountain Sky United Methodist Foundation have developed a comprehensive resource for All Saints Day. This resource includes templates for letters to the families of the saints, worship elements, bulletin inserts, and more. You can download it in either PDF or Word:

No one has the pat answer on how to do stewardship in a time of pandemic. But one of the strengths of our church is our connection with each other. Leaning on that connection makes us stronger and wiser as leaders. Instead of listing the usual stewardship resources this year, we’d like to share some samples of what your colleagues have created as a resource for you in planning your church’s stewardship this year. We are thankful for our contributors: Rev. Cara Scriven at Puyallup, Rev. Jeremy Hajdu-Paulen at Tigard, Rev. Peter Perry at Olympia and Rev. Geoff Helton at Audubon Park. You’ll need to consider both your leadership strengths and your congregational culture to help shape your plans, but I hope these resources will be a helpful reference and inspiration. Perhaps an idea will spark that is relevant to your setting!

I recently listened to a podcast focused on risk management in the investment process, recommended by our Chief Investment Officer, Dave Zellner. While Dave’s recommendations are always informative, this specific episode really piqued my interest as I often find myself having similar conversations about risk management with our institutional investors. While managing risk is clearly a key component of constructing and managing an investment portfolio, it’s also a phrase that brings about misconceptions compared to its practical application.