A fund that holds its principal in perpetuity and only pays out earnings and interest. Faith's endowment fund enhances the charitable, educational and religious missions of the church, apart from the general operation of the congregation.
Who manages the money?
It is managed by the Endowment Committee and owned by the members of Faith Lutheran Church. The Faith Endowment Articles of Incorporation and By-laws establish how the Endowment Fund operates.
Funds are invested with the ELCA Endowment Fund Pooled Trust-Fund A. This allows for the collective long-term investment of funds belonging to the ELCA and its affiliated ministries. Fund A seeks positive social investments, directing capital to underserved markets, such as community development and renewable energy.
Faith retains ownership of funds, receives quarterly statements and has online access to monthly performance reporting.
Funds are managed for growth and income to protect principal. Only the earnings from the funds will be spent annually for special programs and benevolence.
What is the value of the fund?
The current balance is approximately $229,000 with annual earnings of $11,200. 75% of annual earnings are disbursed each year, and 25% is retained to grow principal.
Can anyone donate?
Yes! Give designated gifts at any time by cash, check or securities.
Or plan a gift. Set up a charitable bequest of your estate to Faith through your last will and testament. Create a bequest of any dollar amount, donated specific property or designate a percentage of your estate. If you wish to make a gift from your IRA or 401(k) plan contact your plan administrator.
Can anyone apply for gifts?
Yes! Consideration is given to applications that enhance the charitable, educational and religious missions of the church.