Endowment Fund -- and our gallery of donors.
 
Endowment Fund -- FAQ
Scholarship
Information & Forms - In 2007, we awarded 4 $1300
scholarships to ELCA Seminary Students. Applications are Due May 1st for the
Fall 2008 scholarships.
A Gift of Faith
that
becomes A
Legacy of Hope
Why
you should establish an endowment with King of Kings.
1. To continue your
Christian Stewardship after death.
2. To express your love
of God and charity towards others.
3. To thank God for the
gift of life.
4. To give to God of your
treasure.
5. To lift up a ministry
or concern you care about for many years to come.
6. To help meet
tomorrow’s needs.
Frequently Asked Questions about an Endowment Fund
1. How does an endowment work?
Members of the congregation designate a portion of their
estate for the King of King’s Endowment Fund. Those funds are then kept in a
separate account and used for mission outreach that is above and beyond the
operating budget.
2. Can
I have a say in what my endowment is used for?
Of course — the whole idea behind an endowment is that your
support and your wishes live on after your death.
3.
What does the endowment committee do with the funds?
The funds are deposited into several different investment
accounts maintained by the committee. A quarterly review of the allocation of
these funds is made to determine if the current allocation of funds is correct.
An annual independent audit of the funds is performed and sent to the
congregation.
4.
Don’t I need a lot of money to start an endowment?
No — any amount may be given to the endowment committee. Gifts
can be made in the form of Real Estate, Stocks, Trust Fund, Life Insurance
Policy, Annuity or you may designate a portion (10% to 100%) of your estate in
your will. Each type of gift has different tax implications for your heirs so
please check with your financial planner first. Or Jeff Crane, our Thrivent
representative.
5.
How much of the funds are used each year?
At least 4% of the endowment fund is distributed each year.
This allows the fund to keep up with both inflation and the costs of maintaining
the funds while continuing its mission to provide support of our mission goals.
6.
What mission activities can I support with the endowment fund?
· Lutheran World Relief
· Seminary Scholarships
· College Scholarships
· Youth Programs
· Music Programs
· New Mission Support (Church
Planting)
· Building Homes in Tijuana
· Capital Improvements
· Undesignated
· ??????? —- whatever you wish!
7. How can I
get started?
Contact any member of the Endowment Committee or the Church
Office.
Jeff Crane, our local Thrivent Representative is also available to help.
8. When should I
get started?
Now! — It is best to designate your gift to the endowment fund
as far in advance as possible. It will allow you to discuss this gift with your
heirs and your financial planner
King of Kings reserves the right to amend these Policies and Procedures, if
necessary, in the best interest of the Church and to maintain compliance with
Federal and State laws.
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