Augustana Lutheran Church Endowment Fund

The endowment fund is the largest giving ministry of Augustana Evangelical Lutheran Church.  Over 2017 the fund accrued an interest of $28,800 to be distributed for 2018. Here is a look into the purpose of the fund, how it is used, what it is currently doing, and more information on giving to the endowment fund.

 

Purpose

The purpose of this fund shall be to provide monies for the support of special programs, special projects, ministries, and benevolences which enrich the lives, faith, and service of members of Augustana Evangelical Lutheran Church and touch the lives of others in the community, the country, and the world. (Constitution C16.05.1)

 

How It Is To Be Used

The interest that accrues from the previous year ($28,800) is split and used in 3 equal parts ($9,600):

  1. Building Projects and Maintenance
  2. Local Community Outreach
  3. Area and Global Outreach Ministries

Who Decides?

A committee of four is appointed by the church council. Two of the members appointed are from the church council. They each serve 2 year terms. They are called to oversee the investments of the endowment fund and the distribution of funds according to the by-laws which were explained above.

Building Projects and Maintenance

            One third of the interest and earnings of the endowment fund go towards the maintenance of the church sanctuary or for major capital improvements projects.

2017 ($10,880): The committee allocated funds to assist in the rewiring project for the church. This project gave a much needed update to the sanctuary which had very outdated wiring. Because of this assistance and assistance from the congregation, the sanctuary now is adequately and efficiently lit.

Also, the committee voted to allocate an extra $20,000 to go towards the Church Modernization Project. This project is for repainting the sanctuary and installing air conditioning.

 

2018 ($9,600): Currently, the endowment fund committee has chosen to use this money to help fund the Church Modernization Project.

 

Local Community Outreach

            One third of the interest and earnings of the endowment fund goes towards outreach in our community, preparing of lay leaders, and assisting the financial concerns of church members those in the community.

 

2017 ($10,880): The committee provided $1,500 to the Orion Food Pantry and to the Alwood food pantry and also it gave $500 to the River Bend Food pantry. It gave $2,000 to the village of Andover to assist in refurbishing the Andover Park Bandstand. The committee also gave $500 to Grow Ministries (growministry.org) which supports women in crisis and is based out of Cambridge and Geneseo, IL. It gave $500 to the activities fund at Hillcrest Nursing Home in Geneseo, IL. Lastly, with the left over funds ($4,380) the committee decided to start a Good Samaritan fund. More details will come on this fund and its usage.

 

2018 ($9,600): The Endowment Fund committee has currently given $250 to the three area food pantries (Orion, Cambridge, and Alwood). The committee has also decided to give $6,000 to the ALC Good Samaritan Fund which is set to help those in the community in financial stress. The committee has proposed giving $1,000 to Grow Ministries, $600 to the Hillcrest Activities Fund, and $500 set aside for a possible parish nurse program. If you have a need or think of an opportunity please contact us by clicking here.

Area and Global Outreach ministries

            One third of the interest and earnings of the endowment fund go towards ministries of the Northern Illinois Synod, ministries of The Evangelical Lutheran Church in America, or faith based ministries that benefit the Western Illinois Area and abroad.

 

2017 ($10,880): The committee allocated $5,000 to the Northern Illinois Synod benevolence (link to ministries). It gave $2,380 to the Lutheran Disaster Relief. It gave $1,000 towards training an evangelist in Tanzenia. It gave $2,000 to help fund Pastor Reed’s synod trip to meet and witness the Arcot Lutheran Church in Tamil Nadu, India, a companion of the Northern Illinois Synod (link to an overview of the trip). The fund also gave $500 to Wartburg Theological Seminary.

 

2018 ($9,600): The Endowment Fund committee has not yet discussed allocating funds for area and global ministries. If you can think of an opportunity please contact us by clicking here.