What is the HNAZ Endowment Fund - How is it managed?
What is the Endowment Fund?
The Endowment Fund was created as a tool for donors to support ministries beyond their lifetime. It provides a means for making gifts and bequests to the church creating a permanent endowment of financial support. Gifts can touch lives now and for many generations into the future.
Most gifts to the Fund will come after the donor is deceased. Gifts will be held permanently with only the income being spent. Income earned on the gifts will provide financial support to further Christian ministry and mission.
Most gifts to the Fund will come after the donor is deceased. Gifts will be held permanently with only the income being spent. Income earned on the gifts will provide financial support to further Christian ministry and mission.
The Endowment Fund provides a solid well-designed structure for receiving, investing and administering estate gifts. The Fund will be a good steward of all gifts and honor donor’s wishes for use of the income.
How is the Fund managed?
The Endowment Fund has a formal founding Charter, adopted by the Church Board, which carefully spells out procedures for management and operations of the Fund. In addition, the Endowment Committee has adopted several policy documents which provide further operating guidance. Great care has been taken in structuring the Endowment Fund in order to assure donors of the commitment to honor their wishes.
The Charter can be modified by the Church Board and Endowment Committee if needed in the future.
The Fund is managed by an Endowment Committee elected by the Church Board. They are guided by the Charter, the Policies, and designations or restrictions of donors.
The Fund is managed by an Endowment Committee elected by the Church Board. They are guided by the Charter, the Policies, and designations or restrictions of donors.