Endowment Fund Information
Endowment Fund Grants for Fiscal 2023-2024
In accordance with the distribution policy and bylaws of the St. Paul Endowment Fund, a total of $39,800 will be available for distribution for the 2023-2024 fiscal year.
Grant applications for the 2023-2024 fiscal year are now being accepted by the St. Paul Endowment Committee. Grant applications are available below, or through the St. Paul Finance Office. Before submitting your grant application, one of St. Paul’s boards must sponsor the application. Grant funds will be distributed as long as funds remain available.
Endowment Fund Application
Prior to the establishment of the CIF, funds were simply put into the “general” fund. The original allocations were 60% for capital improvements, 30% student aid, and 10% missions. At a November 17th, 1994 Voter’s Assembly Meeting, a motion passed changing the allocations of the CIF to 15% capital improvements 15% student aid 10% missions and 60% debt retirement. On April 30, 1998 the voters approved the by-laws of the St. Paul Lutheran Church Endowment Fund. Essentially, if the congregation has debt, 60% of all undesignated monetary gifts and bequeaths are to be applied to debt, the other 40% shall go into the Endowment Fund.
The by-laws of the endowment fund are very specific as to organizational structure, Investment options, and the ultimate disbursement of funds. The Fund is administered by the Endowment Fund Committee, chaired by the Director of Finance, plus 4 members of the congregation, appointed by the chairman of the congregation and approved by the voters assembly. The committee will make recommendations for disbursement of funds, consistent with the limitations and procedures of the by laws to the Church Council, if church council approves, the request will be presented to the voters assembly for final approval.
The current committee consists of Jason Hasenstein, Travis Keshemberg, Sue Putterman, Wayne Wiertzema, and James Meyer. If you have any specific questions please contact any of the committee members.