Endowment Funds for the future

Endowments

  Frequently Asked Questions

What is an endowment fund? An endowment fund is an investment fund established by a foundation that makes consistent withdrawals from invested capital. The capital in endowment funds, often used by churches, universities, nonprofit organizations, and hospitals, is generally utilized for specific needs. (source: Investopedia.com)
What endowment funds are active at First Church?
  • The Community Service Endowment Fund was established to fund outreach missions in, and beyond, the local church and beyond.
  • The Tittsworth Family Building and Maintenance Endowment Fund was established to fund First Church building and significant maintenance work.
  • The Old Cemetery Perpetual Care Fund was established to support the necessary maintenance of only the cemetery property on Old Hwy 11E.

When were active endowment funds established?

  • The Community Service Endowment Fund was established in 1997
  • The Tittsworth Family Building and Maintenance Endowment Fund was established in 2008
  • The Old Cemetery Perpetual Care Fund was established in 1979
Who manages the endowment funds? Funds that are donated to these endowments, separate from an individual’s regular giving, are managed and invested by the Holston Foundation. The Endowment Committee of the Church determines how the funds are to be used protecting the principal balance of each fund (typically, annual distribution from a fund is limited to 4% of the fund value).

How can I participate in endowments? Contributions can be made in any amount directed toward the existing funds through directed giving on-line, in the offering plate, or in person at the church office. Establishment of a new fund may be done in consultation with the church and Holston Conference Foundation.

How much money is currently invested in church ministry endowments?
As of December 31, 2018: Community Service Fund $232,430; Tittsworth Family building Fund $34,009, Old Cemetery Perpetual Care fund $91,085
What ministries have received distributions from the funds?
  • From the Tittsworth Family Building and Maintenance Endowment Fund — Church facility improvement: bathroom remodel in children’s area, floor replacement, wall upgrades, fellowship hall ceiling remodel
  • From Community Service Endowment Fund – Joining Hands Clinic, Renovatus, Sharing Christmas in Jefferson County, Quilts of Valor, Appalachian Outreach missionary feeding, Steps of Faith, Second Harvest Food Bank, Jefferson County Health Council

Who serves on the church endowment committee? Peggy Hull (chair), Tara Bolton, Bill Coward, Ken Herman, Ed Hodges, Ronnie Housley, Danny Meredith, Lucy Motte, Betzaida Shands.