All Saints Endowment Program
Offered below is a brief synopsis of the program. Full information can be found in the Endowment and Investment Fund Policies and Guidelines here. If you would like to see past endowment projects, click here
Our endowment funds are invested with the Episcopal Church Foundation (ECF), and there are three fund options to which parishioners may give.
Our flagship fund is the Kairos Mission and Ministry Fund which was started with church reserves in October of 2021. Annual disbursements are made that may be used for capital improvements, funding ministry and outreach, and other special projects outside and beyond the church’s operating budget. This is a quasi-endowment; it is managed as if it were a true endowment, but the principal is available to the vestry, in case of significant need, only after meeting stringent requirements.
The next option is the Permanent Endowment Fund. Disbursements could be used for the same purposes as the Kairos fund but the principal would be held in perpetuity. In addition, gifts could be made to this fund designated for certain purposes. Such restricted gifts would need endowment committee approval and meet a minimum funding requirement of $25,000.
The third option is the All Saints Foundation. It was begun by Father John Conrad and his wife Shannon Murphy in 2016 when Father John retired. This fund is a true endowment and a restricted fund; its proceeds must be used for specific purposes, mostly to maintain or improve the church’s property. Yearly disbursements are made from this fund and contributions to it are welcome.
How to designate a gift:
Bequests (gifts distributed upon the death of the donor) with All Saints Episcopal Church as beneficiary will go into the Kairos Mission and Ministry Fund unless there is an urgent need, for which no other resources are available, that is identified by the Rector and Senior Warden and approved by the Vestry.
If a general bequest is made for a specific purpose, it will either be applied as a direct expenditure through the treasurer or directed to its express purpose as a restricted permanent endowment fund as above.
Alternately, bequests or gifts made during a donor’s lifetime may be designated specifically to the Kairos Mission and Ministry Fund, The Permanent Endowment Fund, or the All Saints Foundation and they will be placed in that respective fund.
For More Information:
Please see the Endowment and Investment Fund Policies and Guidelines or speak to a member of the Endowment Committee. The chairperson may be reached here.
Charitable remainder trusts and donor advised funds
Within our relationship with the Episcopal Church Foundation, our parishioners have the opportunity to establish charitable remainder trusts (or similar accounts). These work like an annuity, providing an income during the owner’s life, but also become tax deductible in the year they are established, or when additional funds are added. At the end of the donor’s life, the remaining funds are distributed to an Episcopal parish, diocese, or other Episcopal organization, according to the donor’s wishes. As part of the pooled assets of the ECF, such accounts may be started with a minimum amount of capital. Click here for more information about these programs.
ECF also offers Donor Advised Funds which become a tax deduction in the year it is established. Thereafter, the donor may make grants from invested funds to non-profit organizations or allow the funds to grow for future giving. More information on DAFs may be found here.
