The Salem Endowment Fund has been authorized and established by the congregation of Salem Lutheran Church. The purpose of this fund is to receive and invest gifts and bequests of money, securities, and real or personal property of all kinds for the benefit of the ministry of the Church. The primary objective of the endowment fund is to generate income to be used for the work and mission of the Church.
The endowment fund is managed and administered by the Salem Endowment Fund Committee. The committee reviews investments and considers requests for program funding. This committee is appointed by the congregation. The congregation has ultimate control of the fund policies. The congregation council must approve all distribution recommendations made by the committee. The committee is responsible for investment decisions.
The funds received are invested with the objective of protecting the principal and maximizing the income. The principal of the fund is held intact and only the income is distributed each year for benevolent purposes.
The income generated by the fund is distributed for the following purposes:
Gifts of cash, real estate, securities, life insurance, trust fund, or bequest may be made to the fund at any time. Contributions to the fund are tax deductible within the provisions of the federal tax law. Cash contributions, both large and small, can be given to the endowment fund at any time. For more information about giving via life insurance, trust, or bequest, please contact Salem Lutheran.