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The Endowment Funds of Knox Church

Statement of Purpose

Knox's endowments are one of the resources that, through the grace of God, Knox has used to carry out its mission. Since its inception in 1968, our original endowment, along with four additional endowments have been built up by the gifts and bequests of "faithful stewards," to strengthen the ongoing work of the church. These donors recognized the opportunity to give a gift that keeps on giving, since investment returns magnify the impact of their original gifts. Just as annual stewardship giving is a chance to return to God a portion of our annual income, contributions to the endowments provide a means to share the accumulated gifts which God provides us as a durable support for Knox's ministry.


Options For Giving

Knox encourages its members and friends to think seriously not only about their annual support of the church, but also how they can help maintain the church's ministry in the longer term. The pastors and members of the Special Committee on Memorial and Endowment Funds are always happy to discuss the full range of giving options, including cash, securities, real estate and other personal property, bequests, life insurance policies, beneficiary designations for life insurance or retirement plans (including IRA’s) and charitable trusts. Read more about Ways to Give.


The Knox Presbyterian Church Permanent Endowment Trust can be regarded as Knox’s “rainy-day” fund. Its principal, which currently is approximately equal to two year’s annual budget, can provide funds should there be a future emergency need that would threaten the very continuation of Knox Church. A decision to use the principal however, cannot be taken lightly, since it requires a vote of 75% of the Session and 75% of the Congregation. The Permanent Endowment Trust is currently providing about 5% of the annual budget where it supports both church operations and benevolences.

The other endowment funds and their stated purposes are:

The Knox Presbyterian Church Mission Projects Endowment Trust is intended to help meet unbudgeted opportunities to expand the mission work and ministry of Knox Church to our congregation, our community, and the world.

The David Scott Mooney Fund for Troubled Youth, is intended to “focus on serving the needs of troubled youth in the Tri-State area of Ohio, Indiana and Kentucky.”

The Barbara York Fund for Christian Education, is intended to support, enrich and recognize the Sunday School teachers of Knox Church.

The Knox Preschool Endowment Fund is intended to provide ongoing support for the Knox Preschool, including scholarships.


Responsibility for Endowment Funds

Session is responsible for the use of endowment funds as part of its overall mission and budgetary responsibilities. The Special Committee on Memorial and Endowment Funds, by the terms of the Trust Agreement, is responsible for management and administration of these funds. They take their stewardship of these funds very seriously: Use of funds and investment performance are regularly reviewed. Decisions on the specific use of endowment funds in a given year are reviewed and approved.


Management of the Endowment

Knox's goal in managing its endowment funds is to conserve capital while obtaining returns that will enable the church to withdraw the funds needed to support the budget each year and still permit growth in the value of the endowment. Our five major funds, the Knox Permanent Endowment Trust, the Mission Projects Endowment Trust, the David Scott Mooney Fund, the Barbara York Fund for Christian Education and the Knox Preschool Endowment Fund are pooled into a single fund, only for investment purposes but are managed separately as individual trusts.


Funds are managed by an outside investment counselor, selected by the Special Committee on Memorial and Endowment Funds and approved by Session. This counselor is responsible for maintaining asset allocation and for individual stock and bond selection, subject to the guidance and approval of the Special Committee, consistent with the Special Committee on Memorial and Endowment Funds' responsibilities under the terms of the Trust Agreements. The funds are also subject to other restrictions based on prudent and ethical concerns.


Reporting Policy

Each year, the endowments' performance during the previous year will be reported in Knox’s Annual Reports, including beginning and ending balances, the amount of income earned, the total return, the amount of money withdrawn and the amount donated to the endowments. These results will also be reported at the Annual Meeting.


Memorial Gifts

Frequently, gifts are made to the Endowment in memory of a loved one. Learn more about Memorial Gifts.

Links

Learn about the ways to give to Knox Church

Information about making a Memorial Gift

Contacts

Financial Secretary

Make a Gift

Knox Calendar of Events