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What is an endowment?

An endowment is basically a charitable contribution to the church of assets, funds or property.  Many of the existing endowments are designated funds, which means they are to be used for specific programs such as Improvements, Missions, Scholarships or Education.  Additionally, general and building endowments have been established to accommodate smaller gifts.  Normally, an endowment gift will require that we preserve the principal of the gift, using only the interest income for the purpose specified.  In some cases, an endowment includes other restrictions such as if the income earned is not used in any given year, that income is added back into the principal of the endowment.  It is incumbent upon the members of the Planned Giving Committee to honor the directions of the giver and to protect the donor’s expressed desire as to how the funds can and will be used.  Endowments must be carefully documented and maintained in our files. 

In order to effectively generate income, the funds are carefully invested and continually monitored.  The Planned Giving Committee meets 8-10 times each year, and an agenda item at each meeting is a review of our financial portfolio. Through recommendations, we feel confident that our portfolio is properly diversified, which has enabled us to weather the turbulent market with limited downside. 
We continue to remain invested for the long-term.

For more information you could contact any of the committee members: Jean Cook, Bill Rinck, Marilyn Bilotti, Carol Fenton, or Debbie Mason.