About Our Endowment
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What is an endowment? Simply put, an endowment is the Church’s
savings account—its accumulated capital is invested to generate income. This income
and capital gains then become the optimal source of return that allows us to optimize our
near and long term programs. Most important, income from an endowment is the most
desirable source of funding for supporting our most important asset—our sisters and
brothers in Christ as they spread his ministry inside and out of the Church. Our endowment gives us long-term
strength Our spending policy of only disbursing the
accumulated growth in an endowed fund that exceeds the total of all contributions gifted
into the fund helps protect against the impact of inflation and adverse conditions. Increasing our endowment is our
strategic priority Despite strong market growth and investment
strategies, First Presbyterian Church of Northville’s Endowment Funds are
undercapitalized compared to some of its peers. Though
our Church’s rise to leadership among our peer group of churches has taken place in a
remarkably short time, this rapid growth in achievement and reputation has not been
matched by parallel growth in our endowment funds, which represent our long- term assets. This puts a strain on our capacity to support
fundamental programs at the same level as other churches and slows our ability to
capitalize on new and future opportunities. Those
churches with long-term endowments can concentrate more on endowment income and annual
gifts. Our sister churches can invest significantly more of
their endowment interest on Church related programs and spread the Ministry of Jesus
Christ through work in the Education, Church Facilities and Ministries, Music and
Community. |
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