Endowment Fund
FLC’s Endowment Fund provides long-term support for outreach or church needs. Only the investment earnings of an Endowment Fund can be spent. The principal amount remains kept in perpetuity and is managed by FLC’s Endowment Committee. Committee members serve rotating terms and are elected at the congregation’s annual meeting. They manage the fund’s assets and make spending recommendations for the Church Council’s approval.
Endowment Fund gifts can be made to the “glory of God” or given in honor/memory of a loved one. There are several ways donors can make a gift to the Endowment Fund…
Undesignated Gifts
The earnings from these gifts can be spent for any outreach or church need that is recommended by the Endowment Committee and approved by the Church Council.
Designated Gifts
The earnings from these gifts are spent consistent with the instructions of the donors. Such designations may include:
- Outreach – global missions, a bible camp, jail chaplaincy, etc.
- Church needs – (facility, staff, education, music ministry, etc.
Designations may be more general or more specific depending on the wishes of the donor.
Donor Advised Fund (DAF)
A Donor Advised Fund is a special Endowment gift whose principal amount must reach at least $10,000 before any earnings can be spent. Donors can reach this amount by making a one time gift that equals or exceeds $10,000 or can accumlate gifts over time until the the $10,000 threshold is reached.
Once the theshold is reached, the Endowment Fund Committee will contact the donor(s) annually and ask them for advice on how to spend the earnings from their DAF. Those who offer such advice may recommend any outreach or church need they wish to support that particular year.
The advantage to a DAF is that donors have more flexibilty to be involved in the decision-making of how the earnings from their gift are spent every year. This means they can financially support a variety of different minsitry options at their discretion.
The Endowment Fund can receive different types of gifts…
Current Gifts – cash, securities and real estate
Deferred Gifts - charitable trusts and gift annuities
Bequests – wills and life insurance
If you would like to make a legacy gift to the Endowment Fund, please take a look at the Endowment brochure and consider talking with one of the pastors. They would be pleased to assist you.
Gift options such as these provide special opportunities to support the mission of First Lutheran to share Christ’s love with our community. For further information, please call First Lutheran Church at 873-7761 or speak with a Fund Committee Member, your attorney, or financial adviser.