Our Endowment Fund

The following are constitutional provisions related to our MISSION ENDOWMENT FUND.  As of March 2018, the congregational council has NOT taken action to form the Mission Endowment Fund Committee.

C5.05 This congregation shall have a mission endowment fund that will commence and operate as specified in this congregation’s bylaws and/or continuing resolutions. The purpose of the mission endowment fund is to provide for mission work beyond the operational budget of this congregation.

C5.05.01 Upon Council action, a Mission Endowment Fund Committee shall be created consisting of five committee members, selected as follows:

(a) one of the pastors, chosen by vote of all ordained pastors of the Congregation, and the chosen pastor shall serve a two year term, and shall have a voice and vote on the Committee;

(b) the treasurer of the Congregation, who shall have a voice but no vote on the Committee, except to break a tie; and

(c) three voting members of this Congregation, who shall be elected at the Congregation’s annual meeting. For such three members of the Congregation, the term of office will be three years, except that the first slate of members shall serve staggered terms: one will serve one year, a second two years, and the third three years. Each year following the initial election, one member will be elected to a three year term. Members are eligible for only two consecutive terms. The Treasurer of the congregation shall maintain the account of the Mission Endowment Fund. The purpose of the committee shall be to implement the guidelines of the Mission Endowment Fund. Except as expressly noted otherwise, all action of the Committee shall be taken by majority vote of the Committee members.

C5.05.02 The duties of the Mission Endowment Fund Committee shall include the following:

a. To fulfill the purpose of the Mission Endowment Fund, that is to provide annual distributions beyond the operating budget of this congregation to ministries as stated below:

1. Minimum of 20% for outreach into the local community, including the local Lutheran Social Services, of the Synod as the Committee determines;

2. Minimum of 20% to ELCA Church-wide ministries as the Committee determines;

3. Minimum of 20% for extraordinary programs or other ministry initiatives within this congregation, with a special focus on youth and family ministry, as the Committee determines; and

4. The remaining 40% distributed through any of the above categories, as the Committee determines.

b. To determine how the Fund assets will be invested, including the asset allocation. The investment objective will be to provide long-term growth so the annual distribution will keep pace with inflation, i.e. the annual distribution will maintain its purchasing power. In any event, all investment shall be invested by outside investors, such as in the ELCA Endowment Fund Pooled Trust and/or the ELCA Mission Investment Fund. No committee member shall invest the assets in a way that would bring private inurnment to that individual. The committee shall report at least quarterly to the Congregation Council on any and all activity within the Fund. Current balance, additions, distributions and any other activity should be included with the report. Annual accounting and report of ministries supported through the Fund shall be distributed to the Congregation at its annual meeting.

c. To begin making annual distributions once the Fund reaches $100,000. Annual distributions will be a percentage of the annual value of the Mission Endowment Fund balance, and may include interest or dividends received, realized gains, and/or unrealized gains.

d. To encourage gifts to the Mission Endowment Fund through education and promotion of the Fund. The committee may use the services of the ELCA Foundation Regional Gift Planner in assisting members with the best way to include the Mission Endowment Fund in their current giving and estate plans. It is anticipated that gifts to the Mission Endowment Fund should be free of any restrictions, except to be used as set forth herein.

e. To receive and celebrate gifts given for ministry through the Mission Endowment Fund. The committee has the discretion to decline acceptance of a gift if deemed to be in the best interest of the Fund and the congregation.

f. To respond to Congregational request, under an unforeseen emergency situation, to use principal of the Fund to help the Congregation rectify an economically devastating situation, but only upon a vote of at least 75% of the Committee.

g. To accept undesignated gifts received by this Congregation, such as, but not limited to, bequests, life insurance proceeds and remainders from life agreements.