St. Mark's Mission Endowment Fund
May the God of hope fill you with all joy and peace in believing, so that you may abound in hope by the power of the Holy Spirit.
Romans 15:13
Friends,
Earlier this week, we launched a new and ambitious campaign to fund a new long-term project: the St. Mark Mission Endowment Fund.
Below, you can find a copy of that original letter that was mailed to your home! If you didn't get a letter, please update your information in our database. You can access that form here.
I also wanted to highlight a few important pieces of information for you to keep in mind as we continue together in this funding campaign.
Guest Visits
We're excited to welcome a few folks to St. Mark over the next few weeks.
On September 28th, we'll welcome Mike Ghelardi to worship. Mike is our congregation's Thrivent advisor and handles our current investments. Mike will share a little bit more about Thrivent and how they serve the church. We'll be having a picnic after worship for a chance to chat with Mike more.
On October 19th, Bishop Bryan Penman will preach and preside during worship. Bp. Penman will share updates from the synod and is excited to learn more about what we are up to here at St. Mark.
Additionally, on September 14th and October 5th we'll welcome new folks into the body as Christ through baptism. The Kingdom of Heaven is always growing!
An endowment fund is a collection of donations designed to generate income. These funds are invested in a single account to support the mission and ministry of St. Mark. The principal is typically preserved, with only the earned investment income utilized, creating a long-term, self-sustaining source of funding.
St. Mark's Mission Endowment Fund will have a few key aspects to keep in mind.
The Principal is Preserved:
The original donations (the principal) are typically not spent, but rather invested to generate income. In the event of an emergency, such as a catastrophic building event or other unexpected expense, the bylaws that incorporate the endowment allow the council and congregation to authorize the spending of certain amounts of the principal.
There is Long-Term Impact:
Endowments provide a stable, ongoing source of funding, supporting the organization's mission for years to come. Ideally, your contribution to St. Mark’s Mission Endowment Fund will outlive you, ensuring the long-term sustainability of our congregation.
Memorial Contributions are Celebrated:
Endowments offer a secure and named place to designate estate gifts. When an estate gift is given to the endowment, the endowment committee makes a record of the name of the giver. This allows us to celebrate contributions to the endowment fund on an ongoing basis.
Thrivent Manages the Fund:
St. Mark’s Mission Endowment Fund is managed by Thrivent Financial, a longstanding partner of the ELCA, overseeing over $170 billion in investments. Our Thrivent advisor, Mike Ghelardi, has served many members and managed our investment accounts for several years.
The endowment fund is guided by bylaws with oversight from the endowment committee and the church council.
What is the endowment used for?
In a traditional endowment, funds are rarely budgeted for spending. At St. Mark, we plan to utilize the endowment to sustain our mission. Up to 5% of the principal may be spent (based on the current fiscal year), with additional expenditures requiring congregational approval.
Income generated from the endowment can be used in a variety of ways, such as:
- Community outreach and evangelism
- Capital improvements and property/grounds work
- Community support and care
- Other needs identified by council
How can you contribute?
Give Immediately:
You can make a gift right now as a part of our funding campaign. A gift of any size is meaningful and welcome. You may send your contribution to the church office as a check (please make sure to write MEF on the memo line) or using Tith.ly (click the button below!). As always, please be in touch with the church office with any questions or concerns.
Give Annually:
As a part of our ongoing financial efforts to achieve long-term sustainability, we will open the mission endowment fund annually on (or around) April 25th. April 25th is the Feast of St. Mark the Evangelist, our namesake, and gives us a chance to celebrate our history and future.
Make a Planned Gift:
Include St. Mark in your estate planning. Chat with Mike Ghelardi from Thrivent or Pr. Kevin to learn more about how to make a gift to St. Mark through your estate.