One of the many ways in which The Village Chapel has been blessed is The Village Chapel Foundation. Some members and friends of the Chapel may not know about the Foundation, so the purpose of this article is to raise the level of awareness about the Foundation, what it is, its history, how it’s used. etc.
What is The Village Chapel Foundation?
The Village Chapel Foundation is a foundation and legal entity which has consolidated monetary gifts by Village Chapel members and friends over many years. The value of the Foundation today is more than $3.8 million. Distributions from the Foundation support many of the ministries and expenses of the church, in accordance with the wishes expressed by the original donors.
History of the Foundation
Going back to the 1950’s, generous members of The Village Chapel gave money to the church in a way that would support various ministries of the church over a long period of time, even in perpetuity. In some cases, the contributions were made as part of the members’ estate plans and in other cases, contributions were made while the donors were living. For many years, individual funds created by these contributions existed separately and were managed by the Board of Trustees, keeping in mind the wishes expressed by the donors. In 1994, as the total value of these contributions grew, a decision was made to consolidate them into a new foundation, The Village Chapel Foundation. Each of the funds is identified separately within the Foundation, named after the donor or the expressed purpose of the fund.
How is The Foundation organized and managed?
When the Foundation was created in 1994, a set of bylaws was written, separate from the bylaws of The Village Chapel. The Foundation Bylaws establish two organizational structures to manage the Foundation, The Foundation Board of Trustees and The Foundation Committee.
The Foundation Committee is responsible for day-to-day administration of the Foundation. The Senior Pastor (Pastor Ashley Smith) and The Village Chapel Treasurer (Pam Bradley) are permanent members of the committee. The committee can have as many as nine members, all of whom must be members of The Village Chapel. Current additional members are Stan Bradshaw, Foundation President; Jackie Woodward, Secretary; Mike Elliott; Jeff Holm; Kathie Parson; John Rowerdink and David Spadafora.
The Foundation Board of Trustees are the members of The Village Chapel Board of Trustees plus the Foundation President. They have ultimate responsibility for the Foundation.
The Foundation investments are held in the Vanguard Balanced Index Fund, which has achieved superior returns for investors for more than 10 years.
How are Foundation funds used by the church?
Some of the funds in the Foundation are designated by the donors for specific purposes while other funds are undesignated and may be used at the discretion of the Foundation Board. Earlier this year, the Foundation Board agreed to put five percent of the annual budget into a money market account that would be considered the annual disbursement amount. In 2025, that amount is $166,685.
At that time, the Board also directed the Foundation Committee to reorganize all of the funds, both donor-directed and unrestricted, into six themes that would be in keeping with both donor wishes and the priority activities and needs of the Church. Those six themes are:
- Caring for TVC property
- TVC Music
- Christian Education
- TVC Personnel
- Missions & Outreach
- Unrestricted Endowments
Over the years, distributions from the Foundation have been used to supplement the church budget if needed, keeping in mind the donors’ preferences. This has been a real blessing during periods of fiscal constraints. The overall objective followed by the Board and the Committee over the years has been to use the funds as intended by the donors, while at the same time, being prudent to ensure that the Foundation grows over time to protect its long-term viability. During the twelve-year period of 2012 – 2023, the Foundation funded various ministries and programs of the Chapel totaling $1.4 million, including $100,000 to support the construction of Heritage Hall. During the same period, the Foundation balance increased by nearly $1 million. This record of prudent management ensures that the funds are used as intended by the donors, while at the same time, protecting and growing the Foundation for future years as it has done for more than sixty years already.
In 2023, the Village Chapel Education Grant Program was created to provide financial assistance to children and families of The Village Chapel who are pursuing higher education. In 2025, grants were distributed to four students, an increase from 2024. It is our hope that the number of grants will increase every year.
More recently, the focus has been on meeting needs external to the church. Examples of recent grants from the Foundation are:
-
- Contribution to Place of Grace, a men’s discipleship residential facility in Richmond County, NC to replace failing HVAC systems
- Contribution to Tambra Place, a Moore County facility to provide a home for young women and men who are aging out of foster care.
- Contribution to Trinity AME Zion Church in Southern Pines, to help them repair structural damage to their church facility which occurred a few years ago
The current strategy used by Foundation management is to spend 5% of Foundation funds annually, while retaining the remainder of the Foundation earnings to ensure its viability for the foreseeable future.
Procedure for Requesting Foundation Funds
A form has been developed for this purpose and is included at the end of this section on the website. After completing the form, return it to the church office, attention Stan Bradshaw, The Village Chapel Foundation
How can I make a contribution to the Foundation?
Many of the funds currently included in the Village Chapel Foundation were contributed as part of members’ wills or estate planning. This provides a convenient way to contribute to the Foundation after the donor no longer needs the funds. If you would like to do this, the Foundation Committee would like to be informed of your plans. This is not required but is helpful for planning purposes. A brochure has been developed to provide more information and is available through the church office.
Of course, gifts can also be made to the Foundation while you are living. This can be done in the same way you currently contribute to the church. Some members prefer to make contributions directly from their Individual Retirement Accounts (IRA), which can provide a tax advantage.
For more information on how you can support The Village Chapel Foundation, contact Pastor Ashley or any member of the Foundation Committee.