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Endowment Funds
Some churches and the Diocese itself have endowment funds. These are funds which have accumulated over time and are invested prudently so that they can provide income for current ministry and new initiatives. Gifts to endowment funds are always gratefully received. Typically, though, they are made through instruments of “planned giving,” such as a will or trust or life insurance policy, and, thus, represent the donor’s legacy. Gifts to endowment funds may be given with or without restriction. Unrestricted gifts are added to the principal of the fund and the income is then used for whatever purposes are deemed most timely and appropriate by the fund’s trustees. Restricted gifts are also added to the principal of the fund but the income is used only for the purpose designated by the donor. Trustees of endowments generally have gift acceptance policies to ensure that all gifts received, whether restricted or unrestricted, and in whatever form (real estate, transfer of equities, annuity distribution, etc.) are useful to and consistent with the church’s or institution’s mission.
The Episcopal Church Foundation offers valuable resources to churches and other institutions pertaining to the establishment and management of endowment funds. Many of their services are offered at no charge.
Learn more about Endowment Funds from the Episcopal Church Foundation.
