Church of the Advent is blessed to have several endowments which totaled approximately $2.5 million at the end of June. There are actually seven separate endowments with different purposes. The General Endowment has approximately $850,000 and supports the operations of the church. The Sanford Endowment holds approximately $1.45 million and supports Christian youth education and youth pastoral ministry. Other endowment categories include the Clergy Discretionary Fund, Pete Peterson Leadership Fund, Music Concert Fund, The Rev Canon David P Thomas Memorial Garden Fund and the Hadley Fund.
Contrary to popular belief you don’t have to be “old” to make an endowment gift. Anyone can give to the endowment fund at any time. By contributing to Advent’s endowment program you show your family and friends how much you value Church of the Advent. You also don’t have to be “rich.” Contributions large and small are welcome, valuable and appreciated. You will help secure Advent’s future and continue to Make Christ Visible for decades to come.
To make a bequest to the Church, simply write down: "I hereby give (amount? $___) to the Episcopal Church of the Advent” and have it witnessed by a friend or loved one. The Endowment Committee and church staff have the ability to handle almost any type of asset, including:
• IRA charitable rollover. Up to $100,000. Significant tax benefit to donor.
• Appreciated Stocks
• Savings accounts
• Real Estate, including unimproved land
• Vehicles (car, boat, etc.)
Our preference is that endowed gifts be unrestricted, to support Advent's future needs whatever they may be. However, upon review, Advent can also accept gifts dedicated for specific purposes, such as the Music Endowment Fund, Leadership & Training Fund and the Building Fund. We encourage people to consult with their financial or estate planners, as well as family members, about how such gifts may impact their estate plans.
The Church’s endowment funds are held at Merrill Lynch and are professionally managed by an independent portfolio manager. The investment activities of the funds are guided by an investment policy statement that sets broad exposure to stocks, bonds and cash to balance the need for current income for withdrawals and growth of the funds for the long-term. The current mix of investments is approximately 65% stocks and 35% bonds and cash. This mix of investments is consistent with most endowments of similar size and spending policies.
The Endowment Committee meets on a regular basis to review the funds investment returns and to make certain that the investment guidelines are being followed. Committee members include Collis Townsend, Larry Boseley, Kim Hoeschel and Ann Dome. Please feel free to ask any of the members questions regarding these funds.
Stuart Davies, Chair of the Endowment Committee