The St. Peter’s Endowment Fund was established on Nov. 25, 2001. In 2015, the document was revised and approved by the Vestry.
The purpose of the Endowment Fund is to ensure a firm financial foundation for the parish and to provide additional funds for outreach. It is not for yearly operational expenses.
From Dec., 2016 to Nov., 2017, the latest numbers available, the fund increased from $38,549 to $53,906. In March, 2017, $8,800 was added to the corpus. Excluding that increase, the fund increased $6,228, a 16.9% increase.
The Fund is managed by a Board of Trustees consisting of three members appointed by a majority vote of the vestry.
The Board members serve at the pleasure of the vestry. The priest serves as an ex-officio non-voting member of the Board of Trustees.
The Fund will be used for:
- Long term expenses of the church (including capital acquisitions, improvements, renovations and replacements).
- Outreach ministries.
The Endowment Fund shall be funded by “inter-vivos” gifts and contributions as well as bequests of cash and other donations such as securities, life insurance policies, real estate, etc.
This is a planned giving fund. You can leave a specific gift, a percentage of your residual estate or a special asset to the church. An attorney can take your existing will and make such an addition. The bequest is subtracted from your estate for tax purposes to lower your potential tax.
Please consider donating to this fund to help ensure the ongoing life and work of St. Peter’s. Anyone desiring to donate cash or other assets can contact Johnny Davis or any other Trustee for help with questions or information. A copy of the Endowment Fund document is available online – http://www.churchsp.org/endowmentfund