St. Paul’s Endowment
St. Paul’s Vestry has established the St. Paul’s Endowment – money that will be set aside and invested to provide a reliable source of income to the parish for generations to come. Income from the Endowment Fund will help St. Paul’s more completely fulfill its mission. Distributions from the fund will not be used for typical operating expenses, but instead shall be used for purposes such as:
- outreach ministries and grants,
- seed money for new ministries and special one-time projects,
- maintenance and enhancement of the physical plant and grounds, and
- purposes that are specifically designated by donors.
Donors interested in a particular ministry or need of St. Paul’s may designate their gift for that purpose. However, there is a minimum amount set for designated gifts, and the vestry must approve the designated gift for the named purpose. Undesignated gifts to the endowment allow the church to address future needs as they arise without restrictions.
Commitments can take many forms, including a monetary gift, a bequest in a will, designation of the Endowment as a beneficiary of a life insurance policy, and instruments such as charitable remainder trusts.
To assist those wishing to make a commitment to the Endowment, the Endowment Board has developed a model Donor Agreement. You’ll find a link to this below. We have also included a link to our full document package, which includes the Enabling Resolution (by which the Vestry established the Endowment) as well as a full range of policies that outline topics such as how donated funds are to be invested and how interest income is to be spent.
We have also created a Legacy Society to honor those who have chosen to make commitments of $10,000 or more to the Endowment. You can find more information in the Legacy Society Brochure.
For More Information
If you have any questions about the Endowment or the policies that govern it, please do not hesitate to contact the Church Office or visit us on the web at endowment.stpaulscary.org.
Documents: (click below to view or download)