Endowment & Investment Fund - Igniting the Future
The St. Mark’s Endowment is our living legacy for future generations of parishioners. Our contributions to the endowment continue our stewardship of God’s gifts in perpetuity to broaden and enrich our ministry of love and service.” Mission Statement: To enhance the work of St. Mark’s Episcopal Church by expanding the breadth and depth of our outreach and mission beyond the annual budget. This endowment will broaden our ability to love and serve God through education, music, scholarship, outreach and other means.
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In 2021 the St. Mark’s Vestry approved the establishment of an Endowment Fund to enable St. Mark’s to fulfill its mission more completely than would be possible through its annual operating budget. The objective for the Endowment Fund is to generate income and appreciation on invested assets that will be used for financial support of St. Mark’s mission and calling. The funds will be invested for support of the church in perpetuity and will not replace operating funds. The endowment will operate under the Vestry-approved Enabling Resolutions and Plan of Operation. This Endowment will benefit future generations as a trustworthy place to leave legacy gifts that will generate an on-going source of revenue.
The Endowment and Investment Fund of St. Mark’s Episcopal Church
The Endowment Committee, appointed by the St. Mark’s Vestry to oversee the fund, will meet quarterly (or more frequently if necessary) to review fund investment performance, consider grant requests (Grant Application Form) and review gift giving. Grant requests must be for at least $1,000. The St. Mark’s Endowment Committee is comprised of five voting members appointed by the Vestry with staggered terms of up to three years, and three non-voting members to include the rector, senior warden and treasurer.
The Endowment and Investment Fund shall have two separate sub-funds:
Upon Vestry approval, a new and separate fund with a specific restricted purpose may be established with a gift of $20,000 or more.
The Endowment Committee, appointed by the St. Mark’s Vestry to oversee the fund, will meet quarterly (or more frequently if necessary) to review fund investment performance, consider grant requests (Grant Application Form) and review gift giving. Grant requests must be for at least $1,000. The St. Mark’s Endowment Committee is comprised of five voting members appointed by the Vestry with staggered terms of up to three years, and three non-voting members to include the rector, senior warden and treasurer.
The Endowment and Investment Fund shall have two separate sub-funds:
- The Permanent Endowment Fund is considered a donor-designated endowment fund. Gifts to this fund will be held in perpetuity and protected by state law under the Uniform Prudent Management of Institutional Funds Act (UPMIFA). Donors to this fund must specify their desire for their donation to be directed to the Permanent Endowment Fund.
- The General Endowment Fund is considered a Vestry-designated quasi-endowment fund to be used for its mission statement. In addition, funds may conditionally be used for emergency purposes if the future of St. Mark’s is in jeopardy. Donors may contribute directly to this quasi-endowment fund.
Upon Vestry approval, a new and separate fund with a specific restricted purpose may be established with a gift of $20,000 or more.
Planned Giving
Planned Giving provides a variety of ways that gifts can be made to the Endowment from one’s accumulated resources and should be included in financial and/or estate planning. It is available to all donors as a method for making a thoughtful decision on the ultimate use of donor resources.
Examples of how planned giving can be accomplished (with Gift Acceptance Committee approval) include the following:
Planned giving allows a donor to provide for family members while remembering the church and can be communicated to the committee with a Letter of Intention. (Planned Giving Letter of Intention)
Planned Giving provides a variety of ways that gifts can be made to the Endowment from one’s accumulated resources and should be included in financial and/or estate planning. It is available to all donors as a method for making a thoughtful decision on the ultimate use of donor resources.
Examples of how planned giving can be accomplished (with Gift Acceptance Committee approval) include the following:
- A specific bequest in a will or trust
- Life insurance policy beneficiary
- A life income gift such as a pooled income fund, charitable gift annuity or charitable trust
- Gifts of personal assets such as real estate, closely-held stock and retirement accounts
Planned giving allows a donor to provide for family members while remembering the church and can be communicated to the committee with a Letter of Intention. (Planned Giving Letter of Intention)
St. Mark’s Endowment Committee Members
Please feel free to speak with any of the committee members to discuss how to become a contributor to the St. Mark’s Endowment. We welcome the opportunity to discuss your goals and intentions.
Leigh Stone - Chairperson
Larry White - Secretary
Merilyn Smith
Teege Culp
Pete Gaillard
Cheri Thayer - Senior Warden
Jane Forsythe - Vestry Liaison
Lewis Tabb - Treasurer
St. Mark’s Episcopal Church strongly urges you to consult with your attorney, financial advisor and/or tax advisor to review this information provided verbally or written without charge or obligation. This information in no way constitutes legal, financial or tax advice.
Growing the Endowment Fund increases St. Mark’s ability to carry out its mission.
Please feel free to speak with any of the committee members to discuss how to become a contributor to the St. Mark’s Endowment. We welcome the opportunity to discuss your goals and intentions.
Leigh Stone - Chairperson
Larry White - Secretary
Merilyn Smith
Teege Culp
Pete Gaillard
Cheri Thayer - Senior Warden
Jane Forsythe - Vestry Liaison
Lewis Tabb - Treasurer
St. Mark’s Episcopal Church strongly urges you to consult with your attorney, financial advisor and/or tax advisor to review this information provided verbally or written without charge or obligation. This information in no way constitutes legal, financial or tax advice.
Growing the Endowment Fund increases St. Mark’s ability to carry out its mission.
