Frances Thaxton Ash left her estate in trust to Central United Methodist Church with a challenge and instructions for it to be used to help end homelessness in families. These funds were used to establish an endowment in the New Mexico Conference Methodist Foundation. The Foundation, which commenced operation in 1982, manages a pooled investment fund for churches and church institutions within the New Mexico Conference of the United Methodist Church.
Deposits into the Frances Thaxton Ash Endowment began on October 31, 2001. Since inception, Saranam has moved from being fully dependent on the endowment to having it provide approximately 25% of the annual operating budget.
We are pleased to be able to say that because of the Frances Thaxton Ash Endowment, 100% of contributions to Saranam go toward program expenses as the Endowment income currently covers all administrative and fundraising costs. Saranam operates efficiently with 87% of its expenses going directy to program.
