Peace Lutheran Endowment Funds
The idea of setting up an endowment fund to support the day school at Peace Lutheran Church was first considered in the early 1980’s. Endowment funds were being set up in other congregations and people at Peace, including teacher Elta Kell and retired teacher Arnold Kell, had become aware of them and saw the value of creating an endowment fund to benefit our own Christian day school financially. In January of 1983 the voters of Peace Lutheran Church approved a motion to set up such a fund here. Considerable effort went into establishing the endowment fund and doing so properly. In March of 1984 the Peace Lutheran School Endowment Association was incorporated with the State of Wisconsin. The Association is a separate corporation from the Church but was created solely for the benefit of Peace’s Christian day school.
Following the successful startup of the Peace Lutheran School Endowment Fund, the idea of starting a similar fund to benefit the other areas of ministry at Peace Lutheran Church was pursued. The Peace Lutheran Church Endowment Fund was established in February of 1987. This fund is owned by Peace Lutheran Church and is overseen by the board of directors of the Peace Lutheran School Endowment Association. This fund has several subaccounts, including the Unrestricted Fund, the proceeds of which are directed annually by the voters’ assembly. Other funds were set up over time in this endowment fund as money was donated by individuals who requested that the proceeds be directed only to certain particular ministries. These subaccounts include Radio Broadcast, Altar Flowers, Seminary Scholarships, Debt Reduction, and Church Work Student Scholarship.
The idea of an endowment fund is that the earnings from the fund are distributed while the principal remains in place to continue earning income for the future. The distributions from both the Peace Lutheran School Endowment Fund and the Peace Lutheran Church Endowment Fund are made early each year after the amount of earnings from the previous calendar year is determined.
Both funds have grown significantly since started. As of June 30, 2016, $646,072 has been contributed to the Peace Lutheran School Endowment Fund, $555,993 has been distributed, and the value of the fund was $926,639 which includes growth of the principal and 2016 earnings to date. The total of donations to the Peace Lutheran Church Endowment Fund as of June 30, 2016, is $275,938; $249,173 has been distributed from all of the sub-accounts, and the value of the fund was $401,176 as of June 30, 2016, which includes growth of the principal and 2016 earnings to date.
It is interesting to note that several of the sub-funds have distributed more than was initially contributed. For example, the Radio Fund has had $900 donated, but has already distributed $1,534. The Seminary Scholarship Fund, with $28,090 in donations has distributed $30,092, the Debt Reduction Fund with $26,460 in donations has distributed $43,924, and the Church Worker Scholarship Fund with $52,510 in donations has distributed $59,193. This is the amazing feature of an endowment fund – you can spend the money and still have it! It’s kind of like having your cake and eating it too.
Donations to any of the funds mentioned above are tax-deductible and can be made in any amount at the church office. These endowment funds make an excellent place to donate memorials and honoraria as the benefits of giving can last nearly forever! The Peace Lutheran School Endowment Fund and the Peace Lutheran Church Endowment Fund have been great blessings from God to our congregation. Contributions to the endowment funds can also be made in a safe and secure way by clicking the “Donate” tab on our website.