Page 19 - Annual Meeting, 2020
P. 19
Endowment Fund, Annual Report, 2019
Ben Hicks
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. It is a
long term investment vehicle providing for future needs.
The fund rose from December, 2018 from $52,467 to $60,160 at the end of November,
2019, the latest numbers available. This represents a 14.66% increase and includes two
increases to the corpus during 2019. Overall the S&P 500 was up 19% the first three
quarters of 2019, the best performance of this period since 1997.
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:
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