Endowment Fund Information

Endowment Fund Grants for Fiscal 2026-2027

In accordance with the distribution policy and bylaws of the St. Paul Endowment Fund, a total of $45,600 will be available to distribution from the St. Paul Endowment Fund during the 2026/2027 fiscal year (July 1, 2026 through June 30, 2027). Endowment grant applications are now being accepted by the St. Paul Endowment Committee. A copy of the endowment grant application is available at the link below, in the St. Paul Finance Office, or by contacting Jason Hasenstein, Director of Finance. One of St. Paul’s Boards must sponsor each endowment grant application. Please direct any questions regarding endowment grant applications and/or submit any grant applications to Jason Hasenstein, Director of Finance. Grant funds will be distributed as long as endowment funds remain available in the fiscal year.

CLICK HERE FOR THE Endowment GRANT Application

Jason Hasenstein

jason.hasenstein@splgrafton.org

Travis Keshemberg

tlkcfa@me.com

James Meyer

jimpmeyer1@gmail.com

Andy Schwartz

aschwartz17@icloud.com

Mark Zager

mzager@aol.com

The current Endowment Fund was originally established in 1982 as the Capital Improvement Fund (CIF). The original intention of the fund was to establish a protocol on how undesiginated monetary gifts would be allocated. 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.

Currently, the Endowment Committee meets the 1st Monday of every month. The committee is developing an application to assist potential benefactors in seeking funds as well as establishing a percentage of funds that the committee feels is an adequate amount for annual distribution while protecting the principal of the funds and adhering to the by-laws limitations on fund disbursement. Additionally the committee continuously reviews the fund assets allocations. There are numerous other issues that the committee is discussing and we will bring these forward in subsequent bulletin informational articles, council meeting and voter meetings.

The current committee consists of Jason Hasenstein, Travis Keshemberg, James Meyer, Andy Schwartz, and Mark Zager. If you have any specific questions please contact any of the committee members.