About the Fund
For many years Our Saviour Lutheran Church has maintained a Memorial and Endowment Fund. To date memorials have been the primary source of the fund. In recent days Our Saviour has re-invigorated the fund to include an emphasis on contributions to the endowment.
Our Saviour Lutheran Church Memorial and Endowment Fund was originally created to encourage support of the various ministries of the congregation through gifts of accumulated, inherited, or appreciated financial resources. The Fund receives various types of monetary gifts for investment and then distributes the income to support social ministry projects, benevolence programs, critical outreach initiatives and other activities not generally covered in the annual Ministry Spending Plan (aka budget).
We DO NOT directly spend the contributions to the Fund, but rather spend the annual interest growth obtained from investment(s) of the overall fund. Gifts to the Memorial and Endowment Fund are held in perpetuity, thereby enabling Fund donors to leave a permanent legacy as testimony to their faithful stewardship and generous support of our Congregation as well as the lasting remembrance of friends and loved ones that gone before. Above all, the legacy of these gifts will point to the Giver of all good gifts, as the ultimate purpose of the Fund is to further the mission and ministry of God’s reign.
The Purpose of the Fund
The intent and purpose of the Fund is to make possible the extension of the various missions of Our Saviour Lutheran Church within the congregation, the community, the nation, and the world apart from the general operation of the congregation. The scope of the program has been defined loosely so it can provide enough latitude that its funds can be used for a variety of purposes that all will, in one way or another, support and extend our Congregation’s holy purpose and core values.
Funds should be focused to support an acquisition, event, organization or individual that is significant and meaningful to the congregation. Fundamentally, these funds should be used to strengthen our ability to conduct our wider mission.
According to our Bylaws, we may draw an annual distribution of 5% of the balance on hand at the end of the year. Of this we then deduct 10% which is sent to the Virginia Synod of the Evangelical Lutheran Church in America as benevolence. The value of the distribution will of course vary with the closing account balance. The remainder is available for use by the Congregation.
How to Apply for a Grant from the Fund
The various ministries, groups, teams and individuals within the Congregation may apply to receive funding through an internal grant application process. The overall Memorial and Endowment Fund is administered by a five-member Memorial and Endowment Committee plus three ex officio Officers of the Congregation. The Committee calls for submissions in the fall and considers the requests in January when the funds are distributed to the successful initiatives.
An Ongoing Legacy
As the Congregation and their family members grow older, we find there is an increase in the memorial donations to the fund. For all the reasons identified above we encourage you to remember Our Saviour in your estate planning so as to ensure the growth of both memorials and endowments to facilitate the longevity of the many ministries within the church. Your contributions will be duly recorded and remembered for all time.