Endowment Fund
The Advent Lutheran Church Endowment Fund offers the members and friends of Advent Lutheran church an opportunity to leave a legacy that can change lives and serve the upcoming generations. Endowment Gifts are charitable gifts or bequests to the ongoing ministry of Christ through Advent Lutheran Church. The Endowment Fund invests all its gifts. It is the earned income of the fund, which the Board of Trustees, who are elected by the congregation, annually distributes. This creates a sustained flow of income, which provides assurance that an individual's gift will continue to enhance the mission of the Church, in its local, community and global context, long after the financial gift was made to the fund.
Endowment Fund definitions
- Common definition – A fund which is kept in perpetuity to provide interest and dividend earnings for the benefit of a charitable cause.
- Advent Lutheran Trust Endowment Fund – The Fund exists to promote stewardship and to promote the mission and ministry of the congregation. The Endowment Fund is able to assist people who want to make a charitable gift or bequest to the ongoing ministry of Christ through Advent Lutheran Church.
- Outreach and Education Fund – A perpetual fund, in which the principal is retained and only the income is used for specified church purposes.
- Memorial Fund A non-perpetual fund, in which the principal and interest are used for special church purposes.
How is the income distributed?
The Endowment Board of Trustees is guided by a set of governing documents that lay our guidelines for the distribution of the income. The distribution is always made in a manner that enhances the mission of the congregation and is not made in such a way to supplement the annual congregational operating budget.
How can gifts be made?
The Endowment Fund can receive many forms of gifts. A few of the most common gifts to the Endowment Fund are:
- Gifts of Cash
- Gifts of Securities – Gifts of securities can be stocks, bonds, investment funds or even a retirement plan. Sometimes it is advantageous to not convert the security to cash before giving it to your church.
- Wills – If a will has been made, a percentage of the estate can be designated to your church or a favorite charity.
- Life Insurance – For many, this is a very convenient and easy way to make a large gift.
- Annuity – Annuities provides income for the donor or other named persons, while gifting the church with a sizable gift.
- Other – Unitrusts, Revocable Trusts, Irrevocable Trusts, pooled income funds and more.
The Endowment Fund has several helpful brochures that can explain the variety of ways a gift can be made. We are available to talk with you personally about the Endowment Fund. For more information, contact the Finance chairperson at finance@advent-lutheran.org or call the church office at 408-779-3551. In addition, you should consult a professional advisor, such as your attorney, accountant or trust officer.