The Endowment Fund enhances the mission outreach of the church.
How does the fund work?
Gifts and bequest princeples are kept in a special interest earning account and each year the interest income is distributed, allowing theoriginal gift to continue helping others into the future. The interest income is equally given to benevolent outreach and church capital improvement.
How can I give to the Fund?
Endowment gifts can be given in any amount through cash donations, securities, real estate, life insurance, remainder interests, bequests from wills or any time you want to donate in honor or in memory of someong.
What is planned giving?
Planned giving means mapping a plan for making future gifts. It can be as simple as altering your will or changing the beneficiary on your IRA or insurance policy. These gifts may be made during your lifetime or at the time of death. Many people first consider planned giving when preparing a will or developing an estate plan, but planned giving can be part of financial plans at any time in our lives. The donors who make planned giving arrangements are usually motivated by a strong commitment to a particular project or mission of the church. Their planned gifts allow them to acknowledge their gratefulness to God and fulfill their goal of supporting charitable work important to them, work that reflects their values and commitments.
How do I make Prince of Peace a beneficiary?
Any planned gift should specify the beneficiary as the “Prince of Peace – Endowment Fund of Prince of Peace Lutheran Church of Brooklyn Park, MN.” All gifts are appreciated!
How is the Fund managed?
The Endowment Fund is managed ty the committee of Trustees and its advisory members. The monies are kept in a managed fund held by Lutheran Community Foundation. A copy of the Endowment Fund Plan of Operations is available in the church office upon request.
Meeting Minutes
August 30, 2011
Attending: Pastor Hal Stoa, Charlie Olson, Jim McCarthy, Marilyn Smith, and Bill Fredrick.
Minutes:
A motion was made and seconded to approve the minutes from the June 2, 2011 Leave a Legacy (LAL) meeting as written. Motion carried.
A motion was made and seconded to approve the minutes from the August 4, 2011 LAL meeting as written. Motion carried.
Financial Report:
The Treasurer’s report was submitted.
A motion was made by Jim McCarthy and seconded by Bill Fredrick to approve the Treasurer’s Report as written. Motion carried.
1.) Balance of the account at Premier Bank was $10,718.01 as of 8-30-11.
2.) Balance of the Lutheran Community Foundation (LCF) was $167,259.64 as of 7-31-11.
Business items:
- November seminar – Topics were discussed, it was decided to pursue the Thrivent seminar entitled “Life Events”, the dates we are looking at are Monday November 7th or Tuesday November 8th, with a start time of 7:00 PM.
- All Saints Day – Charlie will update the insert for the church bulletin. The insert will be put in the bulletin 3 Sunday’s starting October 16, 2011.
- November 6th Ministry Moment – Jim will create a presentation for us to review at the next meeting. Jim will present the ministry moment.
Business items for the October 6th Meeting:
- Ministry Moment – November 6th
- November Seminar “Life Events”
Next meeting October 6, 2011, 6:30 PM
Respectfully submitted by Marilyn Smith
August 4, 2011
Attending: Charlie Olson, Jim McCarthy, Marilyn Smith, and Bill Fredrick.
Financial Report:
The Treasurer’s report was submitted.
A motion was made by Jim McCarthy and seconded by Bill Fredrick to approve the Treasurer’s Report as written. Motion carried.
1.) Balance of the account at Premier Bank was $10,718.01 as of 8-4-11.
2.) Balance of the Lutheran Community Foundation (LCF) was $167,935.24 as of 6-30-11.
Other Business items:
- Distributions – The request that was submitted by the worship enhancement team (original submission was from Pastor Luke) has been changed from monitors/TV’s to a wireless system. Motion was made to amend the request. Motion was approved.
Business items for the August 30th Meeting:
- Planning for a seminar in November. It was noted to stay away from Wednesdays. Potential dates are November 8th or 10th
- Planning for All Saints Day (November 6, 2011): Development of a check list, ministry moment, etc…
- Discussion on future Seminars, dates, topics, etc…
- Development of Promotional Literature, for example an educational letter
- Develop a calendar of when table tents for LAL should be utilized