Why give to the Endowment Fund?
- Most of us have been richly blessed, and the personal stewardship of God’s blessings can be a positive influence in the lives of members of our church here in Torrance and in the lives touched by outreach-giving generated by the Fund.
- The gift is held in perpetuity. Earnings from the gift are available to sustain and strengthen the life and mission of the First Christian Church of Torrance.
- A gift to the Fund can be a way of remembering and honoring loved ones (anniversaries, birthdays, memorials).
What is the Endowment Fund?
The primary purpose of the Endowment Fund is to expand the witness and mission of Jesus Christ by providing this church with a permanent source of financial resources to assist the church in carrying out its mission to serve human needs locally and throughout the world. It is not intended to compete with or substitute for the program of regular annual giving by church members. This Fund is intended to increase and enhance the opportunities for responsible stewardship for present and future church members by allowing them to provide a continuing contribution to the mission of the church.
- The Endowment Fund can provide stable, dependable, long-term financial resources for enhancing, expanding and carrying out the purpose mentioned above.
- Planned giving is a kind of stewardship which gives beyond our years. It allows us to be good stewards of all those “things” we have accumulated.
- Not only will this kind of stewardship be a blessing to others, it will also provide a blessing to contributors and supporters. Just as we feel a sense of satisfaction each time we share from our income, we can, in an even greater sense, experience the joy of knowing that a portion of what we have accumulated will be used responsibly and will continue to be a blessing to others. The Endowment Fund will help accomplish this by providing a vehicle for giving beyond our earthly lifetime.
- The Endowment Fund is comprised of gifts and bequests held separately from the operating budget of First Christian Church. The Fund is established to provide a meaningful extension of stewardship opportunities for members and friends of the congregation.
- The assets in the Fund are managed by directors chosen from and approved by the congregation. A portion of the capital gains and/or income earned through the investment of the assets will be distributed according to the bylaws of the Endowment Fund.
How are earnings from the Fund distributed?
A portion of the assets of the Endowment Fund shall be made available yearly for distribution. The portion available for annual distribution shall be no more than 5 percent of the market value of the Fund’s portfolio. This percentage shall be periodically reviewed by the directors to insure that the principal of the Fund is not being depleted. The market value shall mean the principal plus the interest and/or growth on the principal as determined by the most recent portfolio statements.
All requests for use of these funds are to be submitted in writing by May 31 to the chairperson of the Endowment Fund. The requests may come from any established group in the congregation. These groups can be, but are not limited to, the Elders, Trustees, Education, Worship, Outreach, Youth, Keenagers, Disciple Women, Christian Men’s Fellowship, and Choir.
In keeping with the purpose of the Endowment Fund, as stated earlier, the distribution of funds may be offered for but is not limited to:
- Departments of Outreach, Education, Worship, in which case the request for funds would be made by the Chairperson of the department
- Reduction of outstanding debt or general church operating budget, in which case the request would be made by the Chairperson of the Official Church Board.
- Property upgrade or Parsonage repair – the request would be made by the Chairperson of the Trustees.
How can gifts to Endowment Fund be made?
The Fund can receive many forms of gifts (please be sure to note “For Endowment Fund”):
- Stocks, Bonds, and other liquid assets
- Bequests in wills and trusts
Any specific gift must be reviewed and accepted by the directors. The directors are obligated to ensure the gift and any instructions are consistent with the purpose and vision of the Endowment Fund, and to ensure the gift cannot become a liability.
Any gift should be carefully considered and it would always be wise and recommended that the donor discuss the planned gift with a financial planner or advisor or appropriate legal representative.
Representatives from the Christian Church Foundation in Indianapolis will be available to give workshops at our church to inform and explain how the Endowment Fund could be a part of one’s estate planning.