It is estimated that 40% to 50 % of Disciple churches now have endowment programs.
Our Permanent Endowment Program was created in 2009. It was devised after reviewing other programs and consulting with the Christian Church Foundation. The Program Policy was reviewed and modified several times by the Trustees before arriving at a the final version. The Program Policy was then presented and approved unanimously by the board and the congregation in October 2009.
The Program Policy that was approved in October 2009 is the governing document for the program.
Endowments can be for a fixed time period or permanent. Our program is the permanent type.
Most endowments do not allow changes to be made. Our program has a procedure for amending in case of a catastrophic event.
Most endowments specify exactly how the income derived is to be used. Our program gives the Trustees and the Stewardship Department ( with Board approval ) the authority to distribute the income.
Income received from an endowment can be an annual fixed amount, the actual income earned by the program, or a percentage of the program value. The Trustees have elected for our program currently to be 4% of the program value annually.