Endowment Fund Earnings
2015 Annual Announcement
When the Endowment Fund was created by an All Church/Charge Conference to receive gifts, a formula for identifying the income of the Endowment and how to use it was also adopted on December 12, 2015. The amount available is 4.5% of the average balance as of June 30th of the previous five years.
Using this calculation the 2015 income available for distribution in 2016 is $8,052.
The formula for the distribution of income is:
Local Ministries (60% of $8,052) $4,831
Outreach Ministries (10% of $8,052) $805
Capital Improvements/Church Repairs (30% of $8,052) $2,416
Amount available for distribution $8,052
The motion of the Conference stated that distributions of the income should “be made subject to the direction of the Charge Conference based on the recommendations received from the Administrative Council and the Planned Giving Committee”. To this end, the Planned Giving Committee has voted that suggestions for the expenditures go through the Committee and processes already in place and be presented to the Annual All Church/Charge Conference as part of our Church’s budget.
Therefore, suggestions for income spending from the Endowment Fund will be forwarded as follows:
Local and Outreach Ministries: Forward to the committee or person responsible for that area of Church life who will put together a budget that will go to Planned Giving, the Finance Committee and the Administrative Council as part of the over-all budget, which will be presented to the All Church/Charge Conference.
Capital Improvements and Church Repairs: Forward to the Board of Trustees for its budget, Planned Giving, the Administrative Council and the All Church/Charge Conference.
This process must to be completed by September 30 in order to receive all the approvals needed. Please forward the spending requests to Daniel Ruback.
The Planned Giving Committee