Endowment Fund Committee

Endowment Fund

The First Lutheran Church Endowment Fund was established by the congregation in January 1999. The purpose of the Fund is “to support the property and mission of First Evangelical Lutheran Church of Palo Alto, California.” A separate account, the FLC Endowment Fund, was opened at Charles Schwab and contains the funds dedicated to the Endowment.

During the past few years members of the congregation have made gifts to the FLC Endowment Fund, so indeed the Fund is growing. The policy established for the Endowment Fund is that distributions from the Fund will not be made until assets in the Fund reach a total market value of $100,000. Since the Fund balance has not reached that level, no funds have been distributed.

The FLC Endowment Fund is directed by the Endowment Fund Committee, which serves as custodian of the Fund on behalf of the congregation.

Our goal is for the Endowment Fund to grow to the point where the interest can be used for congregational needs, especially maintenance on the building. For that to happen, it is important for people to be aware of the Endowment Fund and to consider gifts.

The most obvious way to give a gift is to write a check to the FLC Endowment Fund. In addition, there are ways to plan for present and future gifts.

1. Bequest. Include First Lutheran Church Endowment in your will or trust.
2. Shares of stock. Transfer stock to the FLC Endowment Fund account.
3. IRA or Retirement plan. Request a change of beneficiary to FLC Endowment Fund.
4. Gift of a life insurance policy. Make FLC the owner as well as beneficiary.
5. Gift of your home. Arrange to give your home to FLC when you no longer need it.
6. Purchase a gift annuity. Obtain income until you no longer need it, when the original purchase amount is paid to FLC.
7. Charitable remainder trust. Obtain income, with the remainder eventually going to FLC.

Contact any of the Endowment Committee for further information on these or other gift alternatives for the Endowment Fund.