St. Michael's Youth Endowment Fund
What is the St. Michael's Endowment Fund?
Endowment funds are perpetual funds from which only the earnings are distributed. The principle monies and assets contributed to an endowment fund are not spent, but accumulated and invested with the objective of earning income that can be distributed to support youth mission ministry. The St. Michael's Endowment Fund is a perpetual fund with a youth ministry mission objective.
Why was the fund established?
The St. Michael's Endowment Fund was established in lasting memory of Michael David Mower and Michael James Ancona to assist in outreach ministries to young people from the families of St. Mark's Lutheran Church and the surrounding communities, to help them know the message of Jesus Christ, and to bring glory to His name.
Where are the funds invested?
The Endowment invests in mutual funds that offer a balance of growth and income. The primary objective of these investments is income for the purpose of providing earnings for distribution. Additionally, cash earned or held by the fund temporarily is invested in the ELCA Mission Fund Money Market.
Who is St. Michael?
Michael, whose name means "who is like God," is the chief angel. Angels are God’s messengers, as sign of His interest in us and desire to guide us. Angels are ministering spirits sent to minister to those who will inherit salvation.
How is the income used?
The earnings of the St. Michael's Endowment Fund are used for beneficial purposes not traditionally included in the church's annual operating budget. The funds will be used specifically to support youth ministry programs. Typical uses might be to:
- Underwrite a scholarship
- Support a youth activities community center
- Support a local drug and alcohol abuse education program
- Provide non-member Bible school outreach
- Feed a needy child nationally or overseas
- Start a youth ministry at a mission church
- Assist a young adult Christian Education Program in a developing nation
- Support appeals to ELCA youth ministry activities nation- and world-wide
- Bring a Family Life seminar to St. Mark's
- Answer a special need
Where do the fund assets come from?
Assets come from contributions of monies and assets from members like you. Contributions can be in cash, stocks, or tangible assets like cars, houses, and real estate; or they be assigned as part of your tax or estate planning.
Where can I get assistance?
Confidential estate planning assistance by a qualified financial planner is available now at no or low cost if you are interested in making an estate gift to the St. Michael's Endowment Fund. This offer includes the possibility of helping you write or revise your will. Depending on your circumstances, you can enhance your economic security and financial independence while you put plans in place to ultimately benefit your loved ones, our youth program, St. Mark's Church, and, perhaps, other charities. Contact a pastor or call any representative of the Fund.
Following are some of our recent Youth Endowment Fund newsletters with examples of actual fund distributions: