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The Unitarian Universalist Foundation of Phoenix
What is the UUF?
The Unitarian Universalist Foundation of Phoenix (the “Foundation” or UUF) is an Arizona, not-for-profit 501(c)(3) public corporation formed on December 12, 1974. Although it is a separate corporation from UUCP, it exists only in support of UUCP. Its stated purpose is to hold title to real, personal, or any other type of property, including stocks, bonds, and cash, for the benefit of and in accordance with the purposes of the First Unitarian Universalist Congregation of Phoenix (UUCP). Contributions to the Foundation are deductible under the Internal Revenue Code.
The Board of Directors of the Foundation administers the affairs of UUF. Members of UUCP constitute the membership of UUF. Directors are elected by the members at the Foundation’s annual meeting, which is usually conducted in conjunction with congregational meetings. Directors serve overlapping terms of three years.
The principal purpose of the Foundation is to establish and administer an endowment fund to be used primarily for longer range church programs and major capital (building and property) improvements that could not normally be sustained through annual operating contributions. Foundation funds are normally not to be used for congregational operating expenses, defined as those expenses listed in the annual budget. The UUCP Board may formally request financial assistance from the Foundation and the Foundation may loan (with or without interest) or make gifts to the congregation for projects that support the long term growth and health of UUCP and Unitarian Universalism. Typically the Foundation distributes to UUCP an amount equal to 5% of UUF assets as of the end of its most recent calendar (fiscal) year.
The Foundation’s assets (aside from occasional real property holdings) are divided into two funds, a general fund and a Memorial Garden Fund. The latter is used to contribute to the cost of maintaining the Memorial Garden and is funded mainly by internment fees and gifts made in memory of a specific individual. The bulk of the Foundation’s assets are invested in stock and bond mutual funds administered by Northern Trust Company. Northern Trust selects the funds and makes the allocations among various funds, so long as they are within the broad guidelines periodically set by the UUF Board.
Members are encouraged to consider the Unitarian Universalist Foundation of Phoenix in their estate planning. It is preferred that donations be made specifically to the Unitarian Universalist Foundation of Phoenix. However, unrestricted bequests made to UUCP are also typically designated to UUF’s General Endowment Fund.
Please see the following pages for more information: