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How to Set Up an Endowment Fund |How to Market an E.F. |Bulletin Ideas for Marketing
There are some simple procedures to follow and several areas where there are issues to be
addressed and
concerns to be considered.
- Call a Charge/Church Conference
The Chrage Conference is "all of us" and is the appropriate body to initiate the church's Endowment Fund. The Charge Conference supervises the Board of Trustees, which, in turn, supervises the Endowment Committee after the endowment document has been drafted, approved and signed.
- The Charge/Church Conference appoints an "ad hoc" Committee On Endowment
This committee may be composed of some of the people that would be appropriate members of the committee after the endowment is started. Some of the committee members should have a business or financial background. The committee will have two jobs at this stage:
- The "ad hoc" committee conducts an All-Church Discussion on Endowment
This is important because it constitutes an opportunity for all the church members to know about and fully discuss endowment, what it is for, how it works, why we'd ever have one, what the biblical and theological bases are, etc. Every group in the church, both official and unofficial, should have a time when it discusses the proposed endowment fund.
- The "ad hoc" committee drafts the Endowment Resolution
Essentially this resolution is like a trust document in that it spells out the purpose and function of the endowment, the parameters for its operation, the Endowment Committee's function and tenure, and the disposition and distribution of of the endowment fund. To see an example of the Endowment Resolution press this button:
- Circulate the Endowment Resolution and Make Corrections as you go
- Make sure that all the groups of the church have a chance to discuss the proposed endowment resolution, and that all members are given a copy to read and think about. A mechanism should be set up whereby the feedback from groups andindividuals can reach the ad hoc endowment set-up committee with ease.
- Have Legal Counsel Review the document
- You will want to be sure to have the church's attorney look over the document to see that the endowment resolution is drawn up according to local laws and custom. This usually is not very costly and it ensures that all is in order, especially through the process of amending the document in response to all the input you'll get from the all-church discussion.
- Charge Conference Approves the Endowment Resolution and sets up the Endowment Committee formally; appoints its first members
- This is the final step in setting up the Endowment Fund. It is appropriate to begin the session with a report to the Charge Conference by the ad hoc endowment set-up committee. They should report the results from the all-church dialogue and discussion on endowment; and they should have the final draft of the resolution ready to distribute to everyone present. Then the Charge Conference entertains any last discussion on the subject and votes to embrace the new endowment resolution.
- The Charge Conference then receives nominations for the new Endowment Committee from the Nominating Committee and proceeds to elect the new Endowment Committee and charge them with their responsibility.
The reason this procedure is recommended is to create as much of a sense of participation, or "buy in," as possible among all the members of the church at the time the endowment resolution is drafted. This is done in order to create the most positive feeling possible among the church members. After all, it is those members who will be asked to contribute to the Endowment Fund through their wills and estate plans. So you want to have them develop a solid identity with the process and the purpose of the endowment as possible.
Click on this and discover all you need to set up a new local church endowment fund.
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