www.tpf.org
Due to the COVID-19 pandemic, TPF’s staff will be working remotely until further notice. It is our hope that we will return to in-person office hours soon. Meanwhile, we are still available to you.
If you need to contact us, you can call our main number at (214) 522-3155 to leave a voice mail for one of the following extensions, and we will respond as soon as possible:
To contact TPF President Rick Young, dial extension 2264
To contact John Furlow, or to make inquiries about scheduling a call or meeting with John, Stefanie Marsden, or Jake Wilson, dial extension 2277
To contact Beth Wilt, or to contact Jennifer Frano, Stephanie Ray, or Marisa Perez for questions regarding your account, dial extension 2276
To contact Mary Beth Foster, or for technical questions, dial extension 2272
If you are unsure who you should contact, please contact Beth Wilt at extension 2276
Thank you, and stay well!
To say we are living in uncertain times is one extraordinary understatement. When I wrote the update in June, I was hopeful, like many of you, that we had turned the corner on the COVID-19 pandemic. Yet here we are, worried about the Delta variant, along with others we could face in the future. The picture looks far less rosy than it did only three months ago.
Despite this uncertain environment, the TPF staff continues to meet the needs and concerns of our partners. For years, we have purposefully cross trained our staff to ensure all roles are covered in case of an emergency, staff change, illness, or vacation. These efforts have enabled us to seamlessly to meet your needs.
Looking forward, TPF’s Leadership Team has decided to take a month-to-month approach regarding our return to the office. This approach allows our staff members with children to plan accordingly should their children’s school close again. We decided to put off our return until October 4th at the earliest. However, it is looking like even that date is overly optimistic.
Our staff stands ready and available to assist you and your organization, so please do not hesitate to email or call us. We are here for you.
We know these are difficult times for us all, and we are thankful that for you on the frontlines. Please stay safe, healthy, and strong.
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
It is hard to believe that we are moving close to the midpoint of the year 2021. We are thrilled that the world appears to be opening up with a return to “normal’, even if we don’t know what that is going to look like. It would be wonderful if we could just flip that switch and everyone was on the same page at the same time, but that is hardly the case.
We are in a time of stops, starts and pauses, not sure which is next. The most needed attribute at this point is flexibility and the ability to pivot when called upon. TPF continues to do that successfully to offer the highest quality personal attention to you. We realize that many of our partners are at different places on the recovery continuum and have different needs, so we want to be there for you when needed.
The TPF staff will continue to work remotely through Labor Day and then it is our plan to be back in the office with regular office hours. We hope that also means that we will be out among you when requested and needed. We are aware that some may have fallen in love with Zoom meetings and would like to continue those with our Relationship Managers and we are good with that, but we miss our community time with you sharing in your exceptional missions and ministry. Have a great summer.
Thank you for all you do!
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
Happy 2021!
Even though we have entered a new year, it feels like little has changed. We are still wearing masks, lathering ourselves in sanitizer, and keeping six feet away. This only reminds us that we are still enduring one of the toughest pandemics in the history of our country. We know that for many of you, these times have been trying to say the least. You, like us, have experienced the full range of emotions including grief, sadness, anxiety, and some unexpected joy (hopefully!). We have marveled at your tenacity, flexibility, and creativity. We believe that we can accomplish more together than we can individually, and we are glad to have you as our partner.
The TPF staff will continue to work remotely through June, and then we will re-evaluate our direction from that point forward. We want to provide as much support and assistance as possible, so please do not hesitate to reach out to us. Our goal continues to be exceptional, timely, and personal service as we work together to enable and expand mission.
Thank you for all you do!
All my best,
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
As we turn the corner on the year 2020, I want to express our thanks to each of you for your continued support and prayers. We continue to lift you up during these trying times as well. While our TPF team had hoped that now would be the time to publish our final COVID-19 Update, unfortunately we cannot just yet. It seems that at this time our country is experiencing a time of virus spread that remains unfettered. Because of this, our Leadership Team and the Board of Trustees made the decision for our staff to continue working remotely through the middle of 2021. It is our hope that successful vaccines will be created and released, so we can return sooner rather than later, but only time will tell. Please stay safe, protect yourselves and others, and most importantly stay healthy.
Thank you for your continued work on the frontlines of the mission field. TPF applauds your efforts. As always, TPF will continue to support your mission needs and investments effectively and efficiently while maintaining our unrelenting dedication to high-quality personal support.
May the Advent season be a time of peace, reflection, and joy!
All my best,
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
Like many of you, the TPF staff hoped we would be back in the office after the conquering of COVID-19, but we are not there yet. The Leadership Team and the Board of Trustees has made the decision that our staff will continue to work remotely until the end of 2020. This decision was made primarily to accommodate our staff with children who collectively are enrolled in five school districts, all with different schedules for remote and in-person learning. We will continue to support your mission needs and investments effectively and efficiently while maintaining our root goal of high-quality personal support.
All my best,
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
We have now entered the second half of 2020, and in our best efforts to stay safe and healthy, our team continues to serve you from multiple remote locations. It seems unthinkable that we continue to be stymied by the terrible COVID-19. There can be no question that 2020 has been a year to remember, unthinkably full of a worldwide pandemic, murder hornets, Sahara sandstorms, economic meltdowns, staggering unemployment, swine flu, earthquakes, and Australian wildfires. As we move forward, it’s time to stop asking, “what else can happen?” Reopening in many states has been rolled back, and uncertainty seems to be the word of the day. Everyone struggles when the ground under our feet feels like shifting sands.
Thanks to our dedicated staff, TPF continues to provide excellent service and care for both current and potential partners. However, we do know that even under regular circumstances, there can be issues and delays. Especially now, I would like to be made aware of any issues you may be experiencing, so I can ensure that they are quickly resolved to your satisfaction and any surrounding circumstances are thoroughly explored and addressed.
A few weeks ago, we presented a webinar, “LEAVE A LASTING LEGACY OF LOVE: A Virtual Legacy Planning Workshop,” that was well attended and is now available on our website. (Simply CLICK HERE to view this complimentary educational event.) Our accounting staff continues to provide timely distributions to our Partners, and our Relationship Managers continue to grow relationships through emails, phone calls, and Zoom meetings. We all continually adjust to this normal state that feels anything but normal.
TPF Staff will continue to work remotely through the summer. As we approach the fall, the TPF Leadership Team will re-evaluate our work schedules and location with a focus on safety and the best ways to manage school attendance changes, as we have team members with children in five local school districts and daycare.
As always, if you would like more information related to our COVID-19 response, you can check this page to find the latest updates. Please don’t hesitate to reach out to us. As we get closer to Labor Day, we will provide additional updates about our plan for the rest of 2020. Please stay safe and take care of yourselves, as well as those around you.
All my best,
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
In has only been eight weeks since we began the process of working remotely in response to the COVID-19 pandemic. However, for many of us these weeks have felt like months. We continue to establish what normal looks like, while at the same time attempting to formulate our future – whatever that might be. Throughout this time, TPF has worked tirelessly to meet each of our partners’ needs. It is our hope that you all have been pleased with our service, and if for some reason you have unmet needs, questions, or concerns, we hope you will let us know. As always, we are looking for ways we can improve how we serve you.
Moving forward, we will not be providing updates weekly, but we will communicate as the changing situation deems necessary. As a team, we have worked together to define a process that when necessary, allows our staff to safely work in the office while maintaining safe social distancing practices. The safety of our TPF staff and partners is of the utmost importance to us. Zoom meetings continue to power our face-to-face communications, as even in this time, they allow us to effectively meet your presentation and reporting needs. Although, I have to say, we do miss gathering with our partners in-person as we all work together to enable and expand mission. We are acutely aware everyone has not reached the same level of reopening as we have in Dallas County, Texas. TPF staff hails from three different counties, each of which have their own guidelines and requirements for dealing with the pandemic. With partners in 30 states, we are also aware that you are all at drastically different stages of reopening, and we will continue to seek innovative ways that we can be of service to you. In fact, right now, we are working on new tools and content created specifically to meet the new and constantly changing partner needs of this turbulent time.
TPF’s Board of Trustees will meet remotely on Tuesday of this week. At this time, our Investment Committee will hear market updates, review investment managers, and review the TPF Balanced Fund and its underlying components. While it is possible we could see an extension of the current market volatility into the coming months, we will work to manage the risk with our proven long-term strategies and active management.
Should the environment change dramatically, we will return to this direct discourse on what we are all experiencing. But for now, we hope that you will keep in touch with us via our website, social media, blog, email, phone, and Zoom. Please don’t hesitate to reach out to us.
Our prayer remains that you are all staying well and safe. We exist to enable and expand mission. Moving forward, our purpose becomes an even more important part of who we are and what we do.
All our best,
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
John Furlow
Executive Vice President
Texas Presbyterian Foundation
Each person views their own life experience through his or her own lens, as we are all shaped by our upbringing, culture, and family. While tools like Myers-Briggs Personality Tests and Enneagram Tests enable us to learn even more about how we see the world around us, there can be no question that each of us is experiencing these times in our own unique way. However, one common trait shared by the TPF staff is our dedication to enabling and expanding mission. It defines who we are and what we do. In an effort to bring to light the unique experience and isolation of the past few weeks, today we present to you a new blog post from one of our Relationship Managers, Stefanie Marsden.
This new content, “Thoughts on a Hopeful New Normal: Overcoming Isolation, Together,” provides insight into how some members of Generation X are making the most of this turbulent time. This kind of isolation can be lonely and unsettling. As a well-established extrovert, Stefanie has been forced to develop new ways to grow her relationships and support TPF partners. Here, Stefanie addresses some of the benefits we can glean from our current situation with hopeful words of encouragement.
Click here to access TPF’s new blog post:
TPF remains dedicated to serving our partners, especially in this time of isolation. We are available via phone or email to answer your question and provide requested support.
All our best,
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
John Furlow
Executive Vice President
Texas Presbyterian Foundation
Over the past eight weeks, the COVID-19 crisis has delivered an unprecedented shock to our economy. Investment grade credit in March 2020 had the worst month ever. Last week, we saw oil prices dip into a previously unseen realm of negative prices. These events, combined with the temporary closure of most business, have created unstable markets. At this point, it is no longer uncommon to see two percent daily swings in the stock market.
In the past 33 years, U.S. markets have experienced eight events that triggered double digit drops ranging from 19% to 56%. We can assess the impact of those that have past:
However, the eighth, the COVID-19 crisis, is currently ongoing. In past events institutional investors who remained faithful to their investment plan saw bounce back returns between +21% and +68% in the 12 months following the crisis.
TPF partners have already experienced increased returns in the first three weeks of April. While we know we will all be fighting this pandemic in the months to come, we continue to confidently believe in the strategies behind our funds and the decisions made by our team of TPF managers. Currently, investors in the TPF Balanced Fund hold market values close to where they were at the end of Q1, 2019. As of March 31, 2020, the TPF Balanced Fund retains a five-year annualized return number of +3.36%, which is in the top quartile of its peers.
While we are clearly in the center of an extraordinary pandemic, there are many reasons for an optimistic outlook when it comes to your investments. Rest assured, your TPF team is here to support you. Please do not hesitate to reach out to us via email or phone.
All my best,
John Furlow
Executive Vice President
Texas Presbyterian Foundation
When we began our weekly updates over a month ago, our goal was to provide timely, useful, and inspirational information for our current and prospective partners during this time of uncertainty and unease. Today, our goal remains the same. We seek to not overwhelm you with too much information, but instead provide purposeful updates full of relevant and meaningful content about how we continue to embody our purpose of expanding and enabling the mission of our partners. As part of this effort, today we present to you a new blog post from one of our Relationship Managers, Jake Wilson.
This new post, “Thoughts on a Hopeful New Normal: Thriving with Technology, Together,” provides insight into how millennials are coping during this pandemic. How are they working to stay connected? What types of technology can support business efforts? How are they finding humor and entertainment? Jake addresses these questions and more. Now more than ever, it’s important that we leverage every tool available to ensure that we are thriving, together.
Click here to access Jake’s new blog post:
Additionally, THE CLOSING BELL for Q1 is now available. CLICK HERE to view our latest numbers, investment updates, and TPF news. You can also find reports for the first quarter of 2020 in the Reports section of our website.
Remember, we continue to be available via phone or email to answer your questions and provide needed support. Please do not hesitate to reach out to us. We’re here for you!
All our best,
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
John Furlow
Executive Vice President
Texas Presbyterian Foundation
In last week’s update, we expressed our appreciation for our partners’ innovation, creativity, and resilience as you fulfill your missions. Daily, we continue to see examples through our partner communication. This week, I ask that you indulge me as I share how impressed I am with the staff of TPF. My career has allowed me to stay in the world of churches and nonprofits for many years, and I can say unequivocally, that this group of 14 people comprises the best staff with which I have ever had the privilege to work. Their dedication, work ethic, zeal for mission, and personal service orientation makes up the backbone of this great organization. Throughout my 40+ years of service to the church, I have had the opportunity to work with some exceptional people, but these last nine years have shown me what is possible when a team with the same vision and spirit joins arms to accomplish their mission. One of our key beliefs is that we can accomplish more together than individually, and each member of our staff lives this daily.
To further illustrate my point, let’s remember back to March 16th, when we made the decision—in an effort to protect the health and welfare of both our staff and the broader community—to work remotely. Although we had practiced disaster recovery semi-annually for years, we had not rehearsed or practiced what it would look like if we did not have one central place to gather. We are tilling new ground, just like so many others.
I’d like to share some of our most recent accomplishments with you below:
To say I am proud of this team would be a huge understatement. This is truly TPF at its best!
We work each day to support our partners, because we believe that we truly are all in this TOGETHER. I am aware that each of you have stories and examples of the ways in which you and your teams have been heroes. We applaud you, and we join you in celebrating these remarkable people. I know that we will all make it through this and be richer for it. We truly are better together!
Blessings,
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
The Dallas County “Shelter-in-Place”order has been extended through April 30. During this time, TPF will continue full operation while our staff works remotely. We will continue to provide weekly updates and insights throughout these unprecedented times. As this period of social distancing stretches on, it has brought to light some of the fascinating ways in which we all are finding to stay connected.
We have spent the latest decade living in a partisan, divided world with little middle ground. A “you’re either for me or against me” mindset seems to have taken over as a cultural norm. We limit our relationship circle to those who think and act like us. However, the COVID-19 pandemic has reminded us how much we need one another. It’s time to knock down the walls that we have built between us. In our current environment, we need patience and tolerance – two traits that are hard to find when we are afraid and uncertain.
TPF is privileged to see our partners change the lives of those they serve in innovative ways that keep people connected. As for TPF, we are learning that it is not the building that defines us, but that who we are defines the building. Currently, we are surrounded by examples of people caring for one another. Let’s not only keep this up, but accelerate these occasions. We marvel at the way you are all dealing with this “new normal” that changes every 15 minutes.
Through the study of family systems and sociology, we have gleaned that culture overwhelmingly shapes the attitudes of each generation. The World Wars and The Great Depression shaped the Greatest and Silent generations, while the post-war prosperity, Vietnam War, and changing morals framed the growth of the Baby Boomers. Generation X dealt with high underemployment, a stock market crash, and bubble burst, which obviously changed the lens through which they see the world. The much discussed and often maligned Millennials were strapped with student debt and an uncertain world order. Generation Z’s growth has been bracketed with the 9/11 disaster and COVID-19. This context allows us to define key generational differences and points of view. Perhaps this understanding will lead to more tolerance and patience, or so we can hope. Especially now, it’s important to be proactive in agreeing to disagree, so we can unite with others to accomplish the bigger goal of personal and mental health for all.
TPF is a microcosm of this, with our staff representing most of the generations mentioned above. We may have different upbringings and worldviews, yet we are united around the goal of helping our current and prospective partners enable and expand mission. We are excited to share in the way our partners accomplish their mission. You are truly the hands, feet, and mouths of God. For that, we give you our deepest appreciation and gratitude.
In the past few weeks, we have heard the phrase, “We are all in this together…” numerous times. These words are not to be taken lightly. A cord is stronger with the addition of each strand. Please know that Texas Presbyterian Foundation’s Trustees, Executive Leadership, and Staff are lifting you daily in our thoughts and prayers.
All our best,
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
John Furlow
Executive Vice President
Texas Presbyterian Foundation
The extension of federal social distancing guidelines, combined with the sobering predictions of our nation’s most respected physicians, creates an anxious environment for all of us. We understand that you, our Partners, and those you serve are all impacted at this time. We continue to offer prayers for each of you and your congregations, institutions, and organizations. We are partners in this fight to continue and support mission and ministry.
Transparency, partner care, and service have always been pillars of strength for TPF. To ensure the continuation of each of these, we will create and share a weekly update designed to provide you with news, updated information, and support.
Last week, we hosted a short webinar designed to efficiently deliver helpful information to you. CLICK HERE to register for and view this new webinar.
Below, we’ve listed some key highlights from this informative event:
We are amazed, but not surprised, by the creative and innovative ways in which you are continuing to care for your organization and those you serve. We are proud to be your partner!
Please take care of yourselves mentally and physically, as you remain a lifeline to those you serve.
All our best,
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
John Furlow
Executive Vice President
Texas Presbyterian Foundation
In this rapidly changing landscape, communication is critical. As such, we want to provide assurance that TPF’s ability to successfully conduct operations has not been diminished as a result of the COVID-19 outbreak.
TPF is committed to providing you uninterrupted service and support. A working group of TPF’s senior management and Staff has been meeting daily to ensure we are well-positioned to adjust as circumstances warrant. Our focus has not only been on the health and safety of our Staff, but also on service and communication to our Partners.
As noted in prior communications, TPF has taken proactive measures to keep our team members and their families as safe as possible. For over 20 years TPF has practiced and tested a robust business continuity plan. Thus far, TPF has not missed a beat during this current pandemic. As of today, Monday March 23, 2020, TPF is operating under a “Shelter in place” order. We will still be able to respond to Partner requests and anticipate continued full operations. Should anything change, we will keep you informed.
This month, we have seen unprecedented volatility in the investment markets. The structure, quality, and liquidity of the TPF Pooled Funds should help our Partner’s portfolios weather the storm. Remember, this is a health-driven crisis, where the fear of the unknown is the key factor in this volatility. Our funds have been managed through similar periods of stock and bond market volatility, and our long-term record is supportive of our measured approach.
We continue to correspond with all of TPF’s Investment Managers, and their investment strategy decisions remain focused on long-term investment outcomes. There’s no doubt that already, absolute investment results are being adversely impacted, reflecting extraordinary share price volatility of our portfolio business and broader markets. However, our relative investment results remain fairly strong.
Additionally, TPF is planning a webinar this Friday, March 27, to discuss the impact of COVID-19 on TPF and our Partners. We will be discussing both the current environment and the ways TPF is here to serve you. Registration information will be posted on this update page.
Our major concern is for you, yours, and your congregation or institution. We understand that your lives are impacted by the stress and ramifications of this virus. We lift you daily in our thoughts and prayers. Please stay safe and take care of yourselves and those closest to you. In these times, it’s important that we not only protect our physical health, but our mental health as well.
All our best,
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
John Furlow
Executive Vice President
Texas Presbyterian Foundation
All our best,
The Rev. Dr. Rick Young
President
Texas Presbyterian Foundation
John Furlow
Executive Vice President
Texas Presbyterian Foundation