Church Endowment

 

Recognizing that a permanent financial base was important to “support continuing work and presence in the Knoxville community,” the congregation of TVUUC established the Endowment Fund in 1994. The Fund received its initial anonymous donation of $30,000 in 1996, and by 2015, has grown to nearly $400,000. Most of the donations to the Fund come from bequests in the wills of deceased members, memorial gifts honoring members, and lifetime gifts.

Unlike the funds collected during the Church’s annual stewardship campaign, the contributions to the Endowment Fund are not spent on operating expenses. Instead, they are invested permanently and only the income from the Fund is spent. The Endowment Fund began with four sub-funds to be used for specific types of expenses: Building and Maintenance, Religious Education, Social Concerns, and General expenses. An additional sub-fund has been included to support the Memorial Garden. Currently, the Fund is invested in the Common Endowment Fund managed by the Unitarian Universalist Association in Boston.

The Fund is managed by a Committee of seven members elected by the congregation to serve for three-year terms. In addition to overseeing the investments of the Endowment Fund and soliciting new contributions, the Committee periodically invites proposals to use income from the sub-funds for special projects to further the Church’s mission.

The 20th Anniversary Endowment Project:

A portion of earnings from our Endowment Fund are periodically designated for special projects which are outside the scope of normal operations. In particular, the Endowment Fund Committee has announced that in celebration of the 20th anniversary of the fund’s 1996 initial donation, there will be an award of up to 12,000 dollars for a major project which contributes significantly to TVUUC’s mission and legacy. The Committee encourages individuals and groups in the congregation to develop suggestions. Final proposals must be vetted by one of the church’s standing committees and are due January 17, 2016. The Endowment Fund Committee and the Church Board, will jointly review the proposals and announce The 20th Anniversary Endowment Project in February. Those who wish for further details may contact the Committee.

Current Endowment Fund Committee Members:

  • Betty Bumgarner (Secretary)
  • Keith Bruckner
  • Bill Cherry
  • Lillian Mashburn
  • Maureen McBride (Treasurer)
  • Ken Stephenson (Chair)
  • Erven Williams
  • Joe Viglione (Board Liason)

How to Contribute.

Tax deductible contributions to TVUUC’s Endowment Fund May be made at any time by a check in the plate or mailed to TVUUC. Make the check to “TVUUC” and indicate “endowment”. If given in honor of an individual or for a particular sub-fund, be sure to attach a note. The family (or honoree) will be notified of your gift, unless you request anonymity. If you would like more information, please contact a member of the Endowment Fund Committee directly or write to Endowment(at)tvuuc.org.

Links:
Endowment Fund Brochure
Charter of the Endowment Fund
Online Giving
Email

Trust and Estate Info Sites:
The American Bar Association (Real Property Trust & Estate Law Section)

The American College of Trust & Estate Counsel