This May, the Endowment Committee awarded $1000 to the Oklahoma Disaster Relief through Church World Service. New applications for grants are encouraged and should be submitted prior to the next meeting on Wed. August 28th. Application forms can be found on the bulletin board in the narthex or by contacting Nancy Ewing (chairperson).
The St. James UCC Endowment Fund was set up in 1998 with funds received from the estate of Matilda Kutra. The money is invested in various Vanguard accounts to preserve and grow the investment and to produce income to distribute to designated charities. The original investment was $174,000 and the total had grown to $240,500 at the end of 2011. Growth comes from reinvesting capital gains and from additional contributions.
The bylaws state that we are allowed to use only the income each year. Typically, we are able to disperse at least $5000 per year (often much more, depending on the investment returns). Recipients must make applications to the committee and are approved as falling under one of the categories set up for the fund. The categories are: Christian Education, Community Service & Outreach, and the Wider Mission of St. James UCC. Please note that the money is not permitted to be used for the regular expenses of the church.
The endowment fund gives us the opportunity to participate in the community, expand our concept of stewardship, and help deserving groups with funds for their projects. Contributions to the Endowment fund are always welcome. You can be sure that money given to this fund will continue to bring dividends to charities now and in the future.