Endowment Committee
St. Luke’s United Methodist Church
Honor the past---Inspire the Future
How and when was the Fund founded?
The Permanent Endowment Fund, and the committee that administers it, were established by Charge conference on November 20, 2001. By their action, gifts received for this fund are invested for the sole benefit of St. Luke’s United Methodist Church.
Only a proportion of the investment income from the fund is permitted to be used, so the gift keeps on benefiting the Church year after year. It is truly a gift that keeps on giving.
Who is responsible for administering the fund?
The Permanent endowment fund will be administered by the “Committee”, consisting of:
- One member of the Board of Trustees
- One member of the Finance Committee
- Senior Pastor
- Church Treasurer
- 3 members at large
The current chairman is Larry Blanchfield. You can contact Larry at 757-868-4302.
Where is the Fund Invested?
The Endowment Fund will be invested with the United Methodist Foundation of Virginia Conference and managed by the Foundation’s Board of Directors.
All investments by the Foundation are made in accordance with the social principles of the United Methodist Church, Book of Discipline, 1996.
How will the Fund be used by the Church?
The income from the Endowment Fund will be used for:
- Building or other facility oriented projects nature beyond the scope of normal operating costs
- Mission outreach
- Scholarships
- General Endowment Fund
The Endowment Fund Will Not be used to supplement regular budget spending. Exceptions will be made only in case of emergency --- and then only by the vote of the Administrative Board.
We can build this Permanent Endowment Fund year by year with our honor gifts and other special gifts. Gifts can be made to the Endowment Fund in any of the following ways:
· Outright gifts of cash
· Gifts of life insurance
· Gifts through your will or living trust
· Gifts of cash, properties or securities with retained life interest
· Retirement funds or IRA’s
