Cedar Lane Unitarian Universalist Church
Endowment Funds
The three Cedar Lane
Unitarian Universalist endowment funds are managed by the CLUUC Endowment Fund
Committee (EFC) which is charged with maintaining, protecting and growing the
assets of the endowment funds and other funds entrusted to it. The Committee
guidelines limit the investments to common financial instruments and in practice
the Committee invests only in stock and bond mutual funds, money market
accounts, and occasionally individual government and corporate bonds.
Investments are made according to the policy of maximizing total return while
maintaining a high degree of safety.
Social Justice Endowment Fund
The Social Justice Endowment
Fund was established in 2007 for the purpose of building an endowment which will
generate funds in perpetuity solely dedicated to supporting social justice
actions undertaken by the congregation. The Social Justice Council, which
responds to and helps set the social action priorities of the congregation, will
decide annually how the monies appropriated by the fund will be spent.
No money will be disbursed
from the Fund until it reaches the amount of $200,000. By February 1 of the
fiscal year following the calendar year during which the Fund total reaches
$200,000, and every year thereafter, the EFC will determine what amount, if any,
will be available to the SJC for the next fiscal year beginning on the first day
of July. The annual rate of allowable appropriation may vary, but at no time
will the appropriation reduce the principal of the Fund (the original $200,000
plus additional capital contributions).
The Endowment Fund
The Endowment Fund was
established in 1984 with the proviso that not monies be appropriated by the Fund
until its value reached $1 million. This amount was reached in 1999 and the
first distribution to the church was made in 2000. Distributions are made
according to a formula and at no time will the annual appropriations be allowed
to invade the principal of the Fund (the original $1 million plus additional
capital contributions).
Although the Charter for the
Endowment Fund does not specify the uses of the monies generated by this fund,
the general consensus of the congregation has been that this fund should be used
primarily to maintain and improve the church building and property, and
secondarily to fund outreach programs.
Memory Fund
The
Memory Fund is an endowment fund that was established in 1999 to maintain the
Memory Garden and church grounds and to support the archives and other UU
history activities. The Fund did not appropriate money to the church until it
reached $200,000 in 2006. The main source of support for this Fund is the $1,000
suggested donation when a name plate is added to the Name Wall, but
contributions are also accepted. The money spent from the Fund will vary
annually but will not diminish the $200,000 principal.
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