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The Endowment
Sowing Seeds, Nurturing Possibilities

In 2017 our Endowment provided nearly $2 million for our ministries. It gave substantial support (and in some cases, the only support) for a variety of important ministries including: Lake Fellows, Footsteps of Faith, Next Steps, CenterPoint Counseling, Music and Fine Arts, Children’s Circle Preschool, Clergy/Staff Renewal Grants, Restoration and Repair Building Projects, and more.

This support included $528,731 for the Annual General Fund (12% of the budget). This General Fund contribution was designated for Building and Grounds expenses so that member contributions directly supported the ministries and programs that we love; help us grow as disciples; and impact the community beyond our church.

Established in 1923, Endowment assets were $45.4 million at the end of June 2018. With that much money, why do we need to worry about the annual budget? Why do I need to contribute? These are good questions.

An endowment is not a savings account or rainy day fund.  Its purpose is to generate money for Christ’s ministry year after year after year. Donors to our endowment intend their gift to provide a reliable source of income to the church in perpetuity. So, having an endowment does not diminish our need to contribute. Past gifts to the endowment, combined with our present-day generosity, greatly expand our ability to do ministry each and every year.

Managing an endowment is critically important for its long-term impact. Our Endowment is governed by a board of 15 church members elected by the Session. Jeff Kittle currently serves as Board President. The Board sets policies regarding income objectives and spending rates. Our current spending rate is 4.5% of a 12-quarter rolling average of endowment assets. Our income objective (which we have successfully met for more than 10 years) is the spending rate plus the rate of inflation. This allows us to both use the endowment for current ministry while also growing it for the future. The Board also oversees the work of our investment manager, FEG Investment Advisors. The portfolio is invested in a mixture of Global Equities, Global Fixed Income, Real Assets, and Diversifying Strategies.

There is no minimum requirement for contributions. You can make a gift to the Endowment at any time. Many members plan an Endowment Gift in their estate plan, through a will, bequest, assignment of life insurance, IRA, 401(k), etc. You can plant a seed for future ministry, today!

For more information on making a gift to the Endowment (or to inform us that you have already made plans to do so), please contact John Koppitch (jkoppitch@ secondchurch.org). The Beecher Society consists of those who have informed us that the church is in their estate plan and currently has 153 members.