Immanuel Lutheran Church
Endowment Fund Purpose And History
Why Do We Have an Endowment Fund?
The purpose of the endowment fund is to support the ministry of Immanuel Lutheran Church into the future. Different kinds of funds server different purposes. Our General Fund pays the monthly bills, our Benevolence Fund supports mission and ministry beyond our walls, the Endowment Fund supports long-term, significant ministry needs of this congregation. It provides resources to keep our ministry vital into the future.
After the death of Ken Anderson his brother wanted to donate money to Immanuels Endowment Fund. We didnt have one at the time but realized that establishing a fund was an opportunity to give members a way to make donations that have long-term impact sustaining the ministry of Immanuel. Leaving a lasting legacy by supporting your church is a meaningful thing for people to do, and it as potential to help this congregation live out its mission long into the future.
How was the Endowment Fund Formed?
Pastor Marla set up a meeting with Craig Stockel, our Thrivent Financial Associate, and two members of our Stewardship Committee, Julie Weller and Wayne Carlson. In this meeting he gave us some good ideas on how to set up an endowment fund:
1. We could write our own by-laws
2. Only interest money would be used on a regular basis, as voted on by the council.
3. The principle would continue to draw interest into the future and would only be tapped into for something significant for the congregation, as authorized by the council.
4. A plaque would be created to recognize donors of a certain amount.
Afterwards a committee was formed to discuss what we wanted included in our endowment fund. This consisted of Wayne Carlson, Julie Weller, Joanne Johnson, and Annett Sedlund. Some churches use endowment fund interest money for scholarships. The committee concluded that since Immanuel already has scholarships, we didnt see a need to use the endowment fund for more scholarships. An example of the type of significant use that could be appropriate to tap into the endowment fund principle was when a large donation helped provide the resources to build the addition to our church in 2000. No specific use was earmarked for the endowment fund, that is left to the Church Council to decide in the future.
Endowment Fund Bylaws
The following bylaws were created with council approval:
C5.05.01 An interest-bearing account will be established, with the council to direct the investment of monies.
C5.05.02 Interest monies are only to be used for the good of the church; the council is to direct expenditures.
C5.05.03 There will be no minimum donation amount to the endowment fund. The congregation will display a plaque recognizing endowment fund donations of $1,000.00 or more.
C5.05.04 Endowment monies are to be handled through deposit by church offering counters and the church recorder.
These by-laws were read, discussed, and voted on and approved at the annual meeting in January 2016.
Immanuels Endowment Fund was established in February, 2016 and deposited in a savings account set up specifically for the endowment fund. As the fund grows investments offering higher yields will be pursued.
Process for Donation
The Church Council decided that as new donations are made we will recognize them on a quarterly basis in March, June, September, and December. To be recognized in worship donations should be submitted by the first of the month in which it is to be recognized.
To make a donation, please complete the Endowment Fund Donation form and submit it with your donation to Immanuel Lutheran Church, in person, by mail, or in the Sunday morning offering plate.
If you have additional questions about Immanuels Endowment Fund, you are invited to talk with members of the Endowment Fund Committee or Pastor Marla.