Endowment Fund Committee
May 26, 2019
Endowment Fund Pays Off
In the three years since contributions reached $250,000, the General Endowment Fund has been able to disburse $42,000. Twenty percent, or $8,400, has gone to the operating budget. The Pollard Scholarship for LGBTQ students at Howard University Divinity School has been the beneficiary of $4,200. Outreach projects have received $16,800. At the request of the Board of Outreach and Social Justice (BOSJ), portions of these funds have been allocated to ACCA, the Potomac Conservancy, Justice High School’s scholarship fund for disadvantaged students, Fairfax FISH, the Friends of Guest House, and the Transgender Education Association. In addition, $7,800 helped pay for the renovation of Little River’s website, and $4,800 has been allocated for storage units and improvements to Room 7 to benefit the children’s and youth music program.
Despite these disbursements, current market value exceeds $450,000. Clearly, the Endowment Fund has been a good investment to benefit the many ministries of the church. Additional contributions are welcome at any time.
Amounts available for disbursement in 2020 will be calculated at the end of July. Boards, committees, and other groups will be invited to submit proposals for approval at the annual meeting next January.
December 16, 2018
Endowment Fund – A Success!
Since reaching the threshold of $250,000 in contributions three years ago, the Endowment Fund has been able to disburse $48,000 for outreach projects, scholarships, church improvements, and the operating fund. Plus, the Fund’s investments have continued to grow to a current market value of about $450,000.
Now that you have submitted your pledge for 2019 (Right?), are you looking for an additional tax deduction for 2018, a way to memorialize a friend or loved one in perpetuity, or a chance to help Little River grow into its vision for the future? If so, you are invited to submit a check to LRUCC with Endowment Fund on the memo line. Thank you for whatever you contribute.
October 10, 2018
Our Treasurer’s report showed contributions of $11,375 during the third quarter of 2018. Total contributions are now $307,383. Market value of the Fund as of September 30 was $465,123. This is an increase of $20,070 over the previous quarter.
Boards and committees have been informed of amounts available from the Fund for 2019. The Endowment Fund committee reviews spending proposals to ensure that they are consistent with the Fund policy. No proposals have been received to date.