The Endowment Fund’s purpose is to receive gifts and bequests and to use them for the internal missions and ministries of Central Lutheran Church outside of the regular operating budget; as well as support to the greater Lutheran communities in Oregon, the U.S. and the world.
The Endowment Fund consists of two separate funds: a Perpetual Fund in which the principal is retained and only the interest used, and a General Fund from which both the principal and the interest may be used. Donors may designate gifts to either fund. Also, donors may, with the approval of Council, restrict their donation (restricted funds) for a specific project or purpose. For example, one family has earmarked its gift to the General Fund to support the new sanctuary heating system.
The Endowment Fund monies are used for the purposes, projects and programs recommended by the Endowment Fund Committee, if not restricted by the donor, and approved by Council, provided that the uses shall be consistent with the general reason for which this fund has been established. Input on needed projects comes from the congregation’s teams, committees, and staff who propose projects for use of these funds.
The Endowment Fund investments are overseen by The Endowment Committee consisting of at least five voting members of the church, who meet regularly and at minimum, quarterly. The Committee oversees the portfolio of investments to realize responsible returns while minimizing risk. Most funds are invested through ELCA. The Committee also oversees investments (but not the distributions) for the Church’s Capital and Operating Reserves, and for the St. Cecelia Music Endowment Fund. All of these funds, as well as the Endowment Fund, are kept entirely separate of the treasury of the church and at different financial institutions.
Are you ready to invest in God’s work through your church? Gifts to the Endowment Fund may be in the form of cash, securities, life insurance, or property. This fund is an excellent vehicle for members to help Central Lutheran Church with contributions during the donor’s lifetime or through estate planning and inclusion in wills. Call the church office at 541-345-0395 to obtain a copy of the donation form, to arrange a meeting with pastor or with a member of the Endowment Fund Committee. Forms will be supplied, upon request, to your financial advisors and attorneys.