This past year the Endowment Board received donations of $7400. That money increases the principal in the Endowment Fund. From the increase in appreciation and from interest accrued, the Endowment Board distributes money to St. James’, to the Memorial Garden Fund and to the Little Church Fund if they choose to accept it. That money must be spent for projects over and above normal operating costs.
Why have people donated to the Endowment Fund? Sometimes a gift may be made to a specific fund such as the Little Church because one has worshiped there. Often donations come in as a memorial to a loved one and may be specified for a particular fund or not. One may give a special gift in recognition of someone.
What sorts of gifts can one give? Cash is good. But more creatively, one can make St. James’ Endowment Fund the beneficiary of a 401(K) or IRA. Just call the number on your monthly statement and ask for a “Change of Beneficiary” form. Or… Another way would be to make the Fund the beneficiary of the Life Insurance Policy. Or…one can make a bequest to the Endowment Fund in one’s will.
The great thing about the Endowment Fund is that the Fund gives back in perpetuity. Recently the economy has been strong and distributions have been strong as a result. Since we cannot touch the principal, only the appreciation and interest, in years when the economy is slow, the Board cannot give out the principal. But when the economy is strong, the Church benefits as it will this year.
Questions? Contact the Endowment Board members – Cathy Knotts, Jino Joseph, Jeanne Morris, Scott Whitaker or Bruce Roberts.